Common use of Priority of Funds Clause in Contracts

Priority of Funds. The Subrecipient agrees to utilize funds available under this Agreement to supplement rather than supplant funds otherwise available. To the extent available, the Subrecipient must disburse funds available from program income, rebates, refunds, contract settlements, audit recoveries, and interest earned on such funds before requesting additional cash payments. Such payments or reimbursements shall constitute full and complete payment by the City under this Agreement.

Priority of Funds. The Subrecipient agrees to utilize funds available under this Agreement to supplement rather than supplant funds otherwise available. To the extent available, the Subrecipient must disburse funds available from program income, rebates, refunds, contract settlements, audit recoveries, and interest earned on such funds before requesting additional cash payments. Such payments or reimbursements shall constitute full and complete payment by the City under this Agreement. In no event shall the City's obligation to make payment to the Subrecipient hereunder exceed [WRITTEN AMOUNT] ($XXX,XXX).

Priority of Funds. The Subrecipient agrees to utilize Grant funds available under this Agreement to supplement rather than supplant funds otherwise available. To the extent available, the Subrecipient must disburse funds available from program income, rebates, refunds, contract settlements, audit recoveries, and interest earned on such funds before requesting additional cash paymentspayments of Grant funds. Such payments or reimbursements shall constitute full and complete payment by the City under this Agreement.