PAYMENTS TO UNIVERSITY. A. In accord with paragraph II, D. 2 of the plan, the parties recognize that Foundation must reimburse University for actual expenses incurred by it which are attendant to the production of clinical income.
B. Foundation agrees to pay to University, as reimbursement for the expenses attendant to the production of clinical income, University's actual annual costs, as determined by clinical department or unit expenditures as reimbursement of direct clinic personnel expenses and other current operating expenses, in direct support of the operation of the Kentucky Clinics. Payments hereunder shall be in the following manner: The University will submit statements of actual expenditures for each month by the 15th day of the succeeding month. Foundation will reimburse the University of Kentucky by the 24th day of that month.
C. In addition to the above, Foundation agrees that it will make an unrestricted grant to the University of an amount which is not less than the plan component of income for each member as described in paragraph II, C., 2 of the plan. Said grant will be paid in monthly installments.
D. Foundation agrees that it will make an unrestricted grant to the University for non clinic expenses as reasonably submitted by the clinical departments such as other department personnel and current department operating expenses as indicated on such submissions. Payments hereunder shall be made in the following manner: University will submit statements of actual expenditures for each month by the 15th day of the succeeding month. Foundation will make a grant to the University of Kentucky by the 24th day of that month.
PAYMENTS TO UNIVERSITY. A. For performance of work hereunder, COUNTY shall pay UNIVERSITY expenses, direct and indirect costs. Direct costs shall mean costs associated with performing the activities provided in the Scope of Work (as described in Exhibits A-G). Indirect costs shall mean overhead costs which shall be 26% modified total direct costs. In no event shall the totality of all costs exceed Three Hundred and Twenty Thousand Dollars ($320,000) per AGREEMENT AGREEMENT.
B. A payment of Three Hundred and Twenty Thousand Dollars ($320,000) shall be made to the UNIVERSITY within sixty (60) days of approval and full execution of this AGREEMENT.
C. If the term of the AGREEMENT is renewed pursuant to Section 3 above, an additional annual payment of Three Hundred and Twenty Thousand Dollars ($320,000) shall be made for each year that the term is extended to UNIVERSITY, subject to the limitations described in Section 23 below (Limitation of Obligation Due to Non-Appropriation of Funds). Each annual payment for a renewal period of this AGREEMENT shall be made within sixty (60) days of the commencement of the renewal period.
D. OC PARKS may eliminate and/or delay projects based on department need or otherwise not exhaust funding for the AGREEMENT within any given AGREEMENT term in accordance with the terms of Article 8 Termination of Agreement for Convenience. In the event of any unexpended funds during any year of this AGREEMENT, the unexpended funds shall, at the DIRECTOR's discretion, be either 1) carried over as a credit to the next year's payment or 2) refunded to COUNTY.
PAYMENTS TO UNIVERSITY. The County will make a payment to the UNIVERSITY of two hundred and fifty thousand dollars ($250,000) in years one and two of the AGREEMENT and three hundred thousand dollars ($300,000) in described in Section 23 below (Limitation of Obligation Due to Non-Appropriation of Funds). years three, four and five of the AGREEMENT, starting on July 1, 2022, subject to the limitations
PAYMENTS TO UNIVERSITY. In consideration of the license and grant of rights from the University given to the Bank and more particularly described in the balance of this Agreement, Bank will make payments to the University as follows:
a. Initial Signing Bonus and Renewal Payment.
PAYMENTS TO UNIVERSITY. In consideration of the performance of the Research Project, Sponsor shall make periodic advance payments to University in the amounts listed on Exhibit B (“Sponsor Contributions”). Payments should be made in the name of “University of Massachusetts” and sent to Controller’s Office, 408 Xxxxxxx Building, University of Massachusetts, Amherst, Massachusetts. If this Agreement is terminated prior to its expiration for any reason other than a material breach by University (as described in Section 6.3.), then on the effective date of such termination, Sponsor shall pay University the entire amount of any uncancellable financial commitments that University intended to pay through Sponsor Contributions, including without limitation (i) salaries for appointed employees for the remainder of their term of appointment (e.g., postdoctoral fellows) and stipends for graduate students and (ii) University expenses previously incurred for equipment, travel, and associated indirect costs. Upon the request of Sponsor made within thirty (30) days after the expiration or termination of this Agreement, University shall furnish Sponsor with a final accounting of all expenses incurred in connection with the Research Project and all funds received from Sponsor pursuant to this Section 3.2., together with a check payable to Sponsor in the amount of any unexpended and uncommitted funds, failing which University shall retain any unexpended funds.
PAYMENTS TO UNIVERSITY. In consideration of the performance of the Research Project, Sponsor shall make periodic advance payments to University in the amounts listed on Exhibit B ("Sponsor Contributions"). Payments should be made in the name of "University of Southampton" and sent to Mr. Franx Xxxxxxxx, Xxiversity Medicine, Southampton General Hospital, Centxx Xxxxx, Xxxxxxx Xxxx, Xxxxxxxxxxx X000 0XX (Xxl: 44 1000 000000, Xxx: 44 1000 000000). Xf this Agreement is terminated prior to the expiration of the Term for any reason
