Common use of Cost Report and Settlement Clause in Contracts

Cost Report and Settlement. No later than ninety (90) days following the termination of this Agreement, Contractor shall submit to Agency a cost report in the form required by Agency, showing the allowable costs that have actually been incurred by Contractor under this Agreement. If said cost report shows that the allowable costs that have actually been incurred by Contractor under this Agreement exceed the payments made by Agency pursuant to Paragraph 2 (Payment Amounts) above, Agency will remit any such excess amount to Contractor, but subject to Payment Limit of this Agreement. If said cost report shows that the payments made by Agency pursuant to Paragraph 2 (Payment Amounts) above exceed the allowable costs that have actually been incurred by Contractor under this Agreement, Contractor shall remit any such excess amount to Agency.

Appears in 5 contracts

Samples: Project Agreement, Project Agreement, Project Agreement

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