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 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 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 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.

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 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.