Conditions; Authority Obligations Clause Samples

Conditions; Authority Obligations. The RLF shall be administered in accordance with the Specific Award Conditions issued by the Department of Commerce and attached hereto as Exhibit A (the “Conditions”) Further, the RLF shall be administered in accordance with the Authority’s modified “Revolving Loan Fund Plan” attached hereto as Exhibit B provided such plan is consistent with the Conditions. If the Authority determines that it needs to makes substantive changes to the Revolving Loan Fund Plan with respect to the RLF, such changes shall require the consent of the City Manager of the City of Norfolk. Any RLF transferred to the Authority but not disbursed to loan recipients or otherwise used in accordance with this Cooperation Agreement on or prior to July 30, 2022 shall be returned to the City immediately. The Authority will be responsible for administering all COVID-19 response activities on its own behalf and in a manner satisfactory to the City and consistent with the Conditions and any other standards required as a condition of providing these funds. Allowable activities must be directly tied to response and recovery activities related to COVID-19 and must be allowable pursuant to the Coronavirus Relief Fund requirements. Costs that are determined unallowable pursuant to a federal audit are subject to repayment by the Authority.