CLOSEOUT AGREEMENT Clause Samples

CLOSEOUT AGREEMENT. If required by the Grant Agreement, Subgrantee shall enter into and comply with the terms of a Closeout Agreement.

CLOSEOUT AGREEMENT. If required by the Grant Agreement, Borrower shall enter into and comply with the terms of a Closeout Agreement.

CLOSEOUT AGREEMENT. At the completion of the Project, Subgrantee shall enter into and comply with the terms of a Closeout Agreement.

CLOSEOUT AGREEMENT. Any obliga- tions remaining as of the date of the closeout must be covered by the terms of a closeout agreement. The agree- ment will be prepared by HUD in con- sultation with the recipient. The agree- ment must identify the grant being closed out, and include provisions with respect to the following: (1) Identification of any closeout costs or contingent liabilities subject to payment with Continuum of Care program funds after the closeout agree- ment is signed; (2) Identification of any unused grant funds to be deobligated by HUD; (3) Identification of any program in- come on deposit in financial institu- tions at the time the closeout agree- ment is signed; (4) Description of the recipient’s re- sponsibility after closeout for: (i) Compliance with all program re- quirements in using program income on deposit at the time the closeout agreement is signed and in using any other remaining Continuum of Care program funds available for closeout costs and contingent liabilities; (ii) Use of real property assisted with Continuum of Care program funds in accordance with the terms of commit- ment and principles; (iii) Use of personal property pur- chased with Continuum of Care pro- gram funds; and (iv) Compliance with requirements governing program income received subsequent to grant closeout. (5) Other provisions appropriate to any special circumstances of the grant closeout, in modification of or in addi- tion to the obligations in paragraphs (c)(1) through (4) of this section. Sec. 581.1 Definitions. 581.2 Applicability. 581.3 Collecting the information. 581.4 Suitability determination. 581.5 Real property reported excess to GSA. 581.6 Suitability criteria. 581.7 Determination of availability. 581.8 Public notice of determination. 581.9 Application process. 581.10 Action on approved applications. 581.11 Unsuitable properties. 581.12 No applications approved. 581.13 Waivers. AUTHORITY: 42 U.S.C. 11411 note; 42 U.S.C. 3535(d). SOURCE: 56 FR 23794, 23795, May 24, 1991, un- less otherwise noted.

CLOSEOUT AGREEMENT. ‌ As provided at 2 CFR 200.307(c) and 2 CFR 1500.8(d), after the end of the Period of Performance of the Assistance Agreement, the Recipient may keep and use Program Income remaining at the end of the Assistance Agreement and use Post-Closeout Program Income in accordance with this term and condition. The Closeout Agreement goes into effect for this Assistance Agreement the earlier of 1) the day after the Assistance Agreement Period of Performance ends, 2) the first date when all required work of the Federal award has been completed in accordance with 2 CFR 200.344 and the Recipient has met the requirements for closeout (including but not limited to submitting the final report as specified in the Performance Reporting Programmatic Term and Condition) or 3) an alternative date that is mutually agreed by the Recipient and the EPA Grants Management Officer or Award Official. In accordance with 2 CFR 200.344, EPA will proceed to closeout the Award Agreement and enter the Closeout Period even if the Recipient has not met the requirements for closeout (including but not limited to submitting the final report as specified in the Performance Reporting Programmatic Term and Condition). As provided in 2 CFR 200.344: “When the recipient or subrecipient fails to complete the necessary administrative actions or the required work for an award, the Federal agency or pass-through entity must proceed with closeout based on the information available.” This Closeout Agreement is therefore self-executing. This term and condition is the entire Closeout Agreement between the EPA and the Recipient. If any provisions of this Closeout Agreement are invalidated by a court of law, the parties shall remain bound to comply with the provisions of this Closeout Agreement that have not been invalidated. The Closeout Agreement will be interpreted and, if necessary, enforced under Federal law and regulations. The Recipient shall comply with the requirements specified below as part of the Closeout Agreement. Definitions within 2 CFR 200.1, including as supplemented through I. Definitions of this award agreement, apply identically to how they do under the Period of Performance, unless otherwise noted. As specified in the Flow-Down Requirements Programmatic Term and Condition, the Closeout Agreement Programmatic Term and Condition flows down to Subrecipients such that the Recipient must enter into a corresponding Closeout Agreement with any Subrecipient that has Program Income or anticipates ...

CLOSEOUT AGREEMENT. At such time as the funds have been disbursed, but no later than October 31, 2025, the Subrecipient will file a cumulative report. If any unexpended funds held by the Subrecipient are discovered by the County or the Subrecipient, those funds will DocuSign Envelope ID: 61E8ED7B-788D-4CA1-AEC8-2D5DEEDFEF89 DocuSign Envelope ID: 8306BA73-CBBB-44EF-A789-54E8C8A33D1A be refunded to the Board when discovered or no later than November 30, 2025. Notwithstanding the reporting requirements outlined above, once the funds are returned, no additional reports will be required, except as stated below.