RECOVERY OF FUNDS. The right of the RECIPIENT to retain monies received as reimbursement payments is contingent upon satisfactory performance of this Agreement and completion of the work described in the Scope of Work. All payments to the RECIPIENT are subject to approval and audit by ECOLOGY, and any unauthorized expenditure(s) or unallowable cost charged to this Agreement shall be refunded to ECOLOGY by the RECIPIENT. RECIPIENT shall refund to ECOLOGY the full amount of any erroneous payment or overpayment under this Agreement. RECIPIENT shall refund by check payable to ECOLOGY the amount of any such reduction of payments or repayments within thirty (30) days of a written notice. Interest will accrue at the rate of twelve percent (12%) per year from the time ECOLOGY demands repayment of funds. Any property acquired under this Agreement, at the option of ECOLOGY, may become ECOLOGY's property and the RECIPIENT's liability to repay monies will be reduced by an amount reflecting the fair value of such property.
RECOVERY OF FUNDS. In the event that this Contract is terminated, the Board shall be entitled to recover all funds advanced to Contractor for which Contractor has not yet performed services. Such recovery shall be made on a pro rata basis based on the length of the term of this Contract and the length of time services were performed by Contractor. This recovery by the Board shall not be affected by whether Contractor has already spent the funds advanced by the Board. The decision of the Board shall be final.
RECOVERY OF FUNDS. The Department reserves the right to recover funds that are owed by reducing future disbursements to the Contractor by an amount equal to what is owed. The Department may adjust subsequent claims for reimbursement by any audit exception or non-compliance exception up to the amount of the exception. The Parties shall attempt to negotiate the timing and payment schedule of any adjustments under this section.
RECOVERY OF FUNDS. Expenditures of the Contractor may be charged to this contract only if they (1) are in payment of services performed under this contract, (2) conform to applicable state and federal regulations and statutes, and (3) are in payment of an obligation incurred during the contract period. Any County funds spent for purposes not authorized by this contract and payments by the County in excess of authorized expenditures shall be deducted from future payments or refunded to the County no later than thirty (30) days after notice of unauthorized expenditure or notice of excess payment. Contractor shall be responsible to repay for prior contract period excess payments and un-recovered advanced payments provided by the County. Repayment of prior period obligations shall be made to the County in a manner agreed on.
RECOVERY OF FUNDS. If there is evidence of improper use of funds as determined after an investigation, each Participant concerned will use its best efforts, consistent with its regulations, rules, policies and procedures to recover any funds misused. With respect to any funds recovered, the relevant Participant will consult with the Steering Committee, the Administrative Agent and the donor(s). The donor(s) may request that such funds be returned to them in proportion to their contribution to the Programme, in which case the Participant would credit that portion of the funds so recovered to the Programme Account and the Administrative Agent would return that portion of such funds to the donor(s). For any such funds the donor(s) do not request to be returned to them, such funds will either be credited to the Programme Account or used by the Participant for a purpose mutually agreed upon.
RECOVERY OF FUNDS. In the event that this Agreement is terminated, the Board shall be entitled to recover all funds advanced to MATC for which MATC has not yet performed services. Such recovery shall be made on a pro rata basis based on the length of the term of this Agreement and the length of time services were performed by MATC. This recovery by the Board shall not be affected by whether MATC has already spent the funds advanced by the Board. The decision of the Board shall be final.
RECOVERY OF FUNDS. 1. If the co-financing has been paid for ineligible expenditures, irregular expenditures or the agreement has been violated, or the funds were unduly paid or overpaid, the Managing Authority issues a call for payment of funds, and the Lead Partner returns the wrongly paid co-financing as applicable. This also applies to expenditures incurred before the signing of the agreement.
2. The Managing Authority, in connection with Art. 122(2) of the General Regulation, may waive the recovery of the co-financing if the principal amount due does not exceed 250 EUR in the project.
3. The Lead Partner returns the funds in accordance with the call for payment of funds issued by the Managing Authority. The call for payment contains the amount to be reimbursed and the justification, the deadline for reimbursement and bank account number to which the funds should be reimbursed. In justified cases, the Managing Authority may extend the deadline for reimbursement of funds.
4. If within the specified period the Lead Partner does not make the reimbursement based on the call for payment referred to in section 1, the Managing Authority reduces the amount of due co- financing from the subsequent Project Progress Report by the amount payable for reimbursement together with the interest referred to in section 8, subject to section 7. If the amount due exceeds the amount of the due co-financing on accounts of the subsequent Project Progress Reports, the Managing Authority may take further actions against the Lead Partner to recover the missing funds, subject to section 7.
5. If the recovery of the co-financing on accounts of the expenditures referred to in section 1 is necessary, the Managing Authority indicates in the call for payment of funds, as referred to in section 1, the Partner, from whom the Lead Partner should recover the funds.
6. If the Lead Partner fails to recover the funds from the partner until the deadline specified in the call for payment, it shall inform the Managing Authority electronically or in writing and re-issue the call for payment to the partner. The due date set in total for both call for payments of funds submitted to the partner, counting from the date of receipt of the call for payment from the Lead Partner, shall not be shorter than 20 days. If the Lead Partner fails to recover the funds from the partner after the due date specified in the second call for payment, the Lead Partner shall notify the Managing Authority of this fact electronically or in ...
RECOVERY OF FUNDS. 6.1 Under the IAH, a number of circumstances could arise which could make a project "non-compliant". Examples include:
(a) Construction Failures - increased construction costs, bankruptcy;
(b) Environmental considerations - with the exception of those identified and record& in advance of an IAH funding commitment;
(c) Program compliance violations - project fails to remain affordable or does not maintain its affordability target for the full 20 years, or funds arc misused.
RECOVERY OF FUNDS. If the Department or any state or federal agency determines that the Contractor has been reimbursed for any cost that is unallowable, unallocable, or unreasonable under this contract, the Contractor shall repay those funds within thirty (30) business days of receiving written notice from the Department. The Department may additionally withhold any payment under this contract if the Contractor fails to repay those funds by the established deadline. The Contractor’s obligation to repay funds survives the termination of this contract.
RECOVERY OF FUNDS. In the event of a default or violation of the terms of the Grant Agreement by the Grantee, the Authority may institute actions to recover all or part of the project funds paid to the Grantee. Repayment by the Grantee of grant funds under this recovery provision shall occur within thirty (30) days of demand. All remedies conferred on the Authority by this agreement or any other instrument or agreement are cumulative, not exclusive, and may be exercised concurrently or consecutively at the Authority’s option.
