Disbursement and Reporting. Provisions no later than 60 days after the end of the performance period. If Grantee does not use the Grant Funds for Allowable Project Costs Agency may exercise the remedies provided in Section 17 of this Grant, including without limitation deducting amounts from future disbursements of Grant Funds. Any Grant Funds allocated for GY1 that are not remain unused by the Grantee by September 30, 2024 of each grant year, must be returned to Agency for deposit in the Student Investment Account. Any Grant Funds allocated for GY2 that remain unused by the Grantee by June 30, 2025, must be returned to Agency for deposit in the Student Investment Account. Any Grant Funds allocated for GY3Q1 that remain unused by the Grantee by June 30, 2027, must be returned to Agency for deposit in the Student Investment Account.
Disbursement and Reporting. The Contribution will be administered by the Partner and will be subject to the following conditions: The Contribution will be used by Partner for the provision of services as specified in the Project Document (Project proposal), attached hereto as Annex 5. The Partner will make every effort to ensure timely and full implementation of the Project. The value of the Contribution, if made in a currency other than in USD, will be determined by applying the bank rate of exchange in effect on the date of payment of each instalment. The net exchange gains and net exchange losses related to the value of the Contributions as well as Project-related transactions will be treated as other revenues receipts and expenditures, respectively to the Project.
