Federal Award Amount Clause Samples
The Federal Award Amount clause defines the total sum of money that a federal agency commits to provide under a specific grant or cooperative agreement. This clause typically specifies the maximum funding available for the project, outlines any conditions for disbursement, and may detail whether the amount is subject to adjustment based on project needs or performance. Its core practical function is to establish clear financial boundaries and expectations for both the recipient and the awarding agency, thereby preventing misunderstandings and ensuring proper budget management throughout the life of the award.
Federal Award Amount. The USDOT hereby awards a RAISE Grant to the Recipient in the amount listed in section 1 of schedule D as the RAISE Grant Amount.
Federal Award Amount. The USDOT hereby awards a FY 2018 BUILD Transportation Discretionary Grant in the amount of $14,222,671 for the budget period. The USDOT shall not provide funding greater than this amount under this agreement. The Recipient acknowledges that USDOT is not liable for payments that exceed this amount.
b) Section 1.5 of the Grant Agreement is amended and restated in its entirety and will read as follows:
Federal Award Amount. This FHWA hereby awards a Grant to the Recipient in the amount listed in section 1 of schedule D as the Grant Amount.
Federal Award Amount. MARAD hereby awards an FY 2020 America’s Marine Highway Grant in the amount of $XXX for the budget period. MARAD shall not provide funding greater than this amount under this Agreement. The Recipient acknowledges that MARAD is not liable for payments that exceed this amount.