Re-adjustment of Forgiveness Rates Sample Clauses

Re-adjustment of Forgiveness Rates. Upon the completion of the fiscal period of Consultant following a Forgiveness Year, Consultant may submit to the Contract Administrator, no later than six (6) months after the end of the applicable Forgiveness Year, the following: (a) FAR audit for such period; and (b) Revised Exhibit B, Salary Costs (“Adjusted Exhibit B”), reflecting updated overhead and fringe benefit rates that are no higher than such rates in the FAR audit for such period. If the Adjusted Exhibit B and supporting documentation are approved in writing by the Contract Administrator, the rates set forth in Adjusted Exhibit B shall be the applicable rates for any work performed by Consultant after approval by the Contract Administrator of Adjusted Exhibit B.
Sample 1Sample 2
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Re-adjustment of Forgiveness Rates. Upon the completion of the fiscal period following the Forgiveness Year, Consultant may submit to the Contract Administrator, no later than six (6) months after the end of the Forgiveness Year, the following: (a) FAR audit for such period. (b) Revised Exhibit B, Salary Costs ("Adjusted Exhibit B"), reflecting updated overhead and fringe benefit rates that are no higher than such rates in the FAR audit for such period. Following written approval by the Contract Administrator, in its sole discretion, Adjusted Exhibit B shall be effective and apply to any Work Authorization issued thereafter.
Sample 1Sample 2
Re-adjustment of Forgiveness Rates. Upon the completion of the fiscal period following the Forgiveness Year, Consultant may submit to the Contract Administrator, no later than six months after the end of the Forgiveness Year, the following: (a) FAR audit for such period. (b) Revised Exhibit A, Salary Costs (“Adjusted Exhibit A”), reflecting updated overhead and fringe benefit rates that are no higher than such rates in the FAR audit for such period. Upon receipt by the Contract Administrator of an Adjusted Exhibit A supported by an accurate and complete FAR audit for such period, the rates shown in Exhibit A shall be appropriately adjusted to reflect the rates of the Consultant without regard to any forgiveness of PPP funds.
Sample 1

Related to Re-adjustment of Forgiveness Rates

  • Equitable Adjustments (1) If the Contracting Officer confirms that Government conduct effected a change as alleged by the Contractor, and the conduct causes an increase or decrease in the Contractor's cost of, or the time required for, performance of any part of the work under this contract, whether changed or not changed by such conduct, an equitable adjustment shall be made-- (i) In the contract price or delivery schedule or both; and (ii) In such other provisions of the contract as may be affected. (2) The contract shall be modified in writing accordingly. In the case of drawings, designs or specifications which are defective and for which the Government is responsible, the equitable adjustment shall include the cost and time extension for delay reasonably incurred by the Contractor in attempting to comply with the defective drawings, designs or specifications before the Contractor identified, or reasonably should have identified, such defect. When the cost of property made obsolete or excess as a result of a change confirmed by the Contracting Officer under this clause is included in the equitable adjustment, the Contracting Officer shall have the right to prescribe the manner of disposition of the property. The equitable adjustment shall not include increased costs or time extensions for delay resulting from the Contractor's failure to provide notice or to continue performance as provided, respectively, in (b) and (c) above.

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