Fiscal Agent Status. All sub-agreements shall indicate that: (i) the Fiscal Agent acts solely as a fiscal agent for the Chancellor’s Office; (ii) the Fiscal Agent is not responsible for the performance of obligations of third-parties or the Chancellor’s Office under a sub-agreement or for enforcement of the terms of a sub-agreement; and (iii) the Fiscal Agent’s obligations to third parties are limited to those expressly stated in the terms of a sub-agreement. The Chancellor’s Office shall deliver a copy of each proposed sub-agreement to the Fiscal Agent for review and acceptance. The Fiscal Agent may decline to enter a sub-agreement as fiscal agent for the Chancellor’s Office if these provisions are absent, or if the Funds are insufficient to pay the Chancellor’s Office financial obligations under the sub-agreement.
Appears in 4 contracts
Samples: Grant Agreement, Grant Agreement, Standard Agreement
