Common use of Holdback/Proration Clause in Contracts

Holdback/Proration. i. In the event of a state holdback or a proration, which reduces district funding, the School's funding will be reduced proportionately. ii. If the Sponsor receives notice of an FTE funding adjustment, which is attributable to noncompliance by the School, the Sponsor shall deduct such assessed amount from the next available payment otherwise due to the School. If the Sponsor receives notice of such findings, it will provide notice to the School so that the School may challenge such findings at School’s expense, if authorized by law. iii. If the assessment is charged near the end of or after the term of the Charter, where no further payments are due to the School, the Sponsor shall provide prompt notice to the School and the School shall reimburse the full amount to the Sponsor within thirty (30) days.

Holdback/Proration. i. a) In the event of a state holdback or a proration, which reduces district funding, the School's funding will be reduced proportionately. ii. b) If the Sponsor receives notice of an FTE funding adjustment, which is attributable to noncompliance by the School, the Sponsor shall deduct such assessed amount from the next available payment otherwise due to the School. If , provided that, if the Sponsor receives notice of such audit findings, it will provide provides such notice to the School so that the School may challenge such findings at School’s expense, if authorized by law. iii. c) If the assessment is charged near the end of or after the term of the Charter, where no further payments are due to the School, the Sponsor shall provide prompt notice to the School and the School shall reimburse the full amount to the Sponsor within thirty (30) days.