Common use of RECOVERY OF FUNDS Clause in Contracts

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. 6.1 Under the IAHIAH E, a number of circumstances could arise which could make a project "non-compliant"“noncompliant”. Examples include: (a) Construction Failures - increased construction costs, bankruptcy; (b) Environmental considerations - with the exception of those identified and record& recorded in advance of an IAH E 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 Funds are misused.

RECOVERY OF FUNDS. 6.1 Under the SIF-IAH, a number of circumstances could arise which could make a project "non-compliant"“noncompliant”. Examples include: (a) Construction Failures - increased construction costs, bankruptcy; (b) Environmental considerations - with the exception of those identified and record& recorded in advance of an SIF-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 Funds are misused.

RECOVERY OF FUNDS. 6.1 Under the IAHIAH (2014 Extension), 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 recordrecord & 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 are misused.

RECOVERY OF FUNDS. 6.1 Under the IAH, IAH – 2016 SIF 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 recordrecord & 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 are misused.

RECOVERY OF FUNDS. 6.1 Under the IAHAHF, a number of circumstances could arise which could make a project "non-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 AHP 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.