Expendable Personal Property. Expendable personal property shall vest in Grantee upon acquisition. If there is a residual inventory of such property exceeding $5,000.00 in total aggregate fair market value upon completion of the Grant Project, Grantee may retain the property for other activities, or sell it, but must in either case compensate Grantor for its share. The amount of compensation shall be computed in the same manner as Non- Expendable Personal Property. If Grantee has no further need for and is unable to sell the property, Grantee shall request disposition instructions from Grantor.
Appears in 3 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Expendable Personal Property. Expendable personal property shall vest in Grantee upon acquisition. If there is a residual inventory of such property exceeding $5,000.00 in total aggregate fair market value upon completion of the Grant Project, Grantee may retain the property for other activities, or sell it, but must in either case compensate Grantor for its share. The amount of compensation shall be computed in the same manner as Non- Non-Expendable Personal Property. If Grantee has no further need for and is unable to sell the property, Grantee shall request disposition instructions from Grantor.
Appears in 1 contract
Samples: Grant Agreement
