Payment Advance and Provisions Sample Clauses

Payment Advance and Provisions. Grantee will be able to receive twenty-five (25) percent of the award allotment for Payment Year 1 at the time of contract execution. In Payment Year 1, Grantee must submit their first Semi-Annual Review as described in Section E.1 along with the certification described in Section E.5. In the first Semi-Annual review as described in Section E.1, Grantee will report to PHC how the first twenty-five (25) percent of the award allotment was used. Additionally, Grantee will also report expenses up to the amount of the second payment which will be the second twenty-five (25) percent of the award allotment for Payment Year 1. This shifts the payment model to a reimbursement model, in which Grantee will spend its own funds during the reporting period and then request reimbursement for the amount of the next eligible payment in the Semi-Annual or Annual Report.