Provision for the Recovery of Funding Sample Clauses
A Provision for the Recovery of Funding sets out the conditions under which funds previously provided must be repaid or reclaimed by the funding party. Typically, this clause applies if the recipient breaches the agreement, fails to meet specified milestones, or uses the funds for unauthorized purposes. Its core function is to protect the funder’s interests by ensuring that financial support can be recovered if the recipient does not fulfill their obligations, thereby mitigating the risk of misuse or non-performance.
Provision for the Recovery of Funding. The HSP will make reasonable and prudent provision for the recovery by the Funder of any Funding for which the conditions of Funding set out in section 4.5 are not met and will hold this Funding in accordance with the provisions of section 4.6 until such time as reconciliation and settlement has occurred with the Funder. Interest earned on Funding will be reported and recovered in accordance with section 4.6.
Provision for the Recovery of Funding. The HSPwillmakereasonableandprudent provision for the recovery by the LHIN of any Funding for which the conditions of Funding set out in section 4.2(a) are not met and will hold this Funding in an interest bearing account until such time as reconciliation and settlement has occurred with the LHIN.
Provision for the Recovery of Funding. The Hospital will make reasonable and prudent provision for the recovery by the LHIN of any Funding that the LHIN may recover under this Agreement and will hold this Funding in an interest bearing account until such time as reconciliation and settlement has occurred with the LHIN. Interest earned on Funding will be recoverable by the LHIN or be used for the provision of Hospital Services in accordance with this Agreement.
Provision for the Recovery of Funding. The Hospital will make reasonable and prudent provision for the recovery by the MOHLTC of any Funding that the MOHLTC may recover under this Agreement and will hold this Funding in an interest bearing account until such time as reconciliation and settlement has occurred with the MOHLTC. Interest earned on Funding will be recoverable by the MOHLTC or be used for the provision of Hospital Services in accordance with this Agreement.
Provision for the Recovery of Funding. NISA will make reasonable and prudent provision for the recovery by CMHA of any Funding for which the conditions of Funding set out in subsection 4.5 are not met and will hold this Funding in accordance with the provisions of subsection 4.6 until such time as reconciliation and settlement has occurred with CMHA. Interest earned on Funding will be reported and recovered in accordance with subsection 4.6.