OBLIGATION OF FUNDS. (1) In the event that actual expenditure rates deviate from SUBRECIPIENT’s provision of a corresponding level of performance, as specified in Exhibit A, CITY hereby reserves the right to re-appropriate or recapture any such under expended funds. (2) If CITY finds that SUBRECIPIENT is unwilling and/or unable to comply with any of the terms of this Agreement, CITY may require a refund of any and all money expended pursuant to this Agreement by SUBRECIPIENT, as well as any remaining unexpended funds which shall be refunded to CITY within ten working days of a written notice to SUBRECIPIENT to revert these financial assets.
Appears in 3 contracts
Samples: Funding Agreement, Agreement for the Payment and Use of American Rescue Plan Act Funding, Agreement for the Payment and Use of American Rescue Plan Act Funding
OBLIGATION OF FUNDS. (1) In the event that actual expenditure rates deviate from SUBRECIPIENTRECIPIENT’s provision of a corresponding level of performance, as specified in Exhibit A, CITY hereby reserves the right to re-appropriate reappropriate or recapture any such under expended funds.
(2) If CITY finds that SUBRECIPIENT RECIPIENT is unwilling and/or unable to comply with any of the terms of this Agreement, CITY may require a refund of any and all money expended pursuant to this Agreement by SUBRECIPIENTRECIPIENT, as well as any remaining unexpended funds which shall be refunded to CITY within ten working days of a written notice to SUBRECIPIENT RECIPIENT to revert these financial assets.
Appears in 3 contracts
Samples: Emergency Solutions Grant Service Agreement, Emergency Solutions Grant Service Agreement, Service Agreement
