Common use of RECOVERY OF FUNDS Clause in Contracts

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. If the Department Agency 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 DepartmentAgency. The Department Agency 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.