Disposition of Equipment upon Project Completion Sample Clauses

Disposition of Equipment upon Project Completion. Upon completion of the project, if the current value of purchased equipment is less than $5,000, the equipment may be retained by the recipient with no obligation to refund the SNPLMA Special Account. This guideline is based on regulations in 43 CFR, Part 12, Subpart C §12.72(e)(1). However, if the “per unit fair market value” of purchased equipment is more than $5,000 at the time of completion of the project, the CFR states that the grantor is entitled to recover it’s “ownership” share of that value. Therefore, if SNPLMA fully funds the purchase of the equipment and current value is more than $5,000, the current value of the equipment will be a deduction in the final reimbursement amount for the project. If another funding source is utilized for a portion of the equipment purchase, the deduction will be prorated based on the percentage of SNPLMA funds used for the purchase. As explained above, this policy will not apply where outright purchase of equipment resulted in a cost savings over leasing the project equipment when the lease would have been for the sole use of the project and only for the time period required by the project.
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Related to Disposition of Equipment upon Project Completion

  • Upon Substantial Completion of the Work or designated portion thereof and upon application by the Contractor and certification by the Architect, the State shall make payment, reflecting adjustment in retainage, if any, for such Work or portion thereof, as provided in the Contract Documents.

  • At Substantial Completion and Final Completion the Contractor shall provide a certification letter certifying that the Work does not contain asbestos as required by the UTUGCs.

  • Notice to Proceed - Site Improvements The Recipient shall not commence, or cause to be commenced, any site improvements or other work on the Land until the Director has issued a Notice to Proceed to the Recipient. Such Notice to Proceed will not be issued until the Director is assured that the Recipient has complied with all requirements for the approval of a grant under Revised Code Sections 164.20 through 164.27 and has completed any land acquisition required by the Project. A Notice to Proceed shall be required for all Project prime contractors or direct procurement initiated by the Recipient following execution of this Agreement.

  • Project Completion Part 1 – Material Completion

  • Project Completion Date It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant of its decision to terminate as soon as reasonably practical and shall advise the Applicant of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant for any Project Costs incurred after the effective date of termination and may require the Applicant to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

  • Selection of Subcontractors, Procurement of Materials and Leasing of Equipment The contractor shall not discriminate on the grounds of race, color, religion, sex, national origin, age or disability in the selection and retention of subcontractors, including procurement of materials and leases of equipment. The contractor shall take all necessary and reasonable steps to ensure nondiscrimination in the administration of this contract.

  • Upon completion of the Project the Recipient shall make a full and complete accounting to the OPWC of the Eligible Project Cost.

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • GOODS RE-ENTERED AFTER REPAIR OR ALTERATION 1. No Party may apply a customs duty to a good, regardless of its origin, that re-enters its territory after that good has been temporarily exported from its territory to the territory of another Party for repair or alteration, regardless of whether such repair or alteration could be performed in the territory of the Party from which the good was exported for repair or alteration.

  • Completion of the Project The Contracting Party shall complete the construction, equipping and furnishing of the Improvements in accordance with the Plans and submit to the Board a Certificate of Completion on or before November 1, 2016.

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