PAYMENT OF GRANT FUNDS BY THE IEDC. The payment of this grant by the IEDC to the Grantee shall be made in accordance with the following schedule and conditions:
PAYMENT OF GRANT FUNDS BY THE IEDC. The payment of this grant by the IEDC to the Grantee shall be made in accordance with the following schedule and conditions:
A. The IEDC will reimburse the Grantee fifty percent (50%) of eligible training costs, subject to the conditions and limitations set forth in this Agreement and provided that the funds available under this Agreement are expressly limited to the lesser of (i) the Pro-Rata Distribution Amount (as defined in Paragraph 4D below) and (ii) the Maximum Grant Amount (as defined at Exhibit A), notwithstanding any other provision of this Agreement to the contrary. The IEDC may deobligate any grant funds for which a final claim and final paperwork has not been submitted by sixty (60) days after the Expiration Date.
B. Prior to a payment disbursement, this Agreement must be fully executed, and all the evidentiary materials required by this Agreement must be submitted to and approved by the IEDC. Further, any other grant conditions specified in this Agreement must also be fulfilled to the IEDC's satisfaction.
C. Requests for disbursement of the payment to the Grantee will be made by the IEDC, after approval of the claim and in accordance with State fiscal policies and procedures. The Grantee agrees to comply with requests for information so the IEDC can make payment requests. The Grantee will submit claims detailing expenditures eligible for reimbursement towards the Total Training Budget Commitment and the data to meet the Company Economic Impact Goals. If requested by the IEDC, the Grantee shall further list expenditures by line items as specified by the IEDC. In accordance with State fiscal policies and procedures and as required by Indiana Code § 4–13–2–14.8, and notwithstanding any law, rule, or custom to the contrary, payments will be made by electronic funds transfer to the financial institution designated in writing by the Grantee, unless a specific waiver has been obtained from the Auditor of the State. The written authorization for the electronic funds transfer must designate a financial institution and an account number to which all payments are to be credited. For forms and additional information, the Grantee should see the Auditor of State’s website (xxx.xx.xxx/xxxxxxx). No payments will be made in advance of receipt of the goods or services that are the subject of this Agreement, except as permitted by Indiana Code § 4–13–2–20 or by Indiana Code § 5–28–25.
D. In order to receive a payment, the Grantee shall provide the IEDC satisfac...
PAYMENT OF GRANT FUNDS BY THE IEDC. The payment of this grant by the IEDC to the Grantee shall be made in accordance with the following schedule and conditions:
(A) This Agreement must be fully executed.
(B) Prior to making a payment under this Agreement, all of the evidentiary materials required by this Agreement must be submitted to and approved by the IEDC. Further, any other grant conditions specified in this Agreement must also be fulfilled to the IEDC’s satisfaction.
(C) Disbursements of funds under this Paragraph 4 shall be made upon receipt of all documentation required for payment under this Agreement, including invoices in substantially the same form as set forth in Exhibit B (“Summary Billing”). The Maximum Grant Amount shall be drawn down on a monthly basis pursuant to the following schedule:
(1) Year 1 of the Agreement (July 1, 2018 to June 30, 2019): Not to exceed $450,000.00; and
(2) Year 2 of the Agreement (July 1, 2019 to June 30, 2020): Not to exceed $450,000.00.
(D) Notwithstanding Paragraph 4(C), the Grantee may be required to further provide the IEDC, upon request, an aggregation of more detailed and segregated expenses than those set forth in the Summary Billing. This aggregation should be in a form as to clarify the entities, nature, and purpose relating to each expense and shall be sent to the IEDC in electronic format. Any invoices provided to the IEDC shall not list acronyms or coding (coding procedures), unless otherwise agreed to by the IEDC. The IEDC reserves the right to receive additional clarifying details and information from the Grantee as to invoices from the Grantee, and the Grantee shall promptly provide such information.
(E) All payments will be made in arrears on a reimbursement basis and only upon approval of signed invoices in substantially the same form as found in Exhibit B.
(F) Invoices shall be sent to the IEDC at xxxxxxxxxx@xxxx.xx.xxx.
(G) Prior to making a payment under this Agreement, the IEDC may require the Grantee to produce satisfactory evidence, in the sole opinion of the IEDC, that substantial progress has been made toward completion of the Project and that the conditions set forth or referenced in this Paragraph 4 have been met, including the timely submission of Quarterly Progress Reports (Paragraph 9).
(H) Notwithstanding any other provision of this Agreement, the Grantee expressly agrees that the monies provided herein by the IEDC are limited to the Maximum Grant Amount. The IEDC may de-obligate any grant funds that have not been exp...
