Common use of Recovery of RLF Assets Clause in Contracts

Recovery of RLF Assets. 1. In case of termination for cause or convenience, the CAR shall return to EPA its fair share of the value of the RLF assets consisting of cash, receivables, personal and real property, and notes or other financial instruments developed through use of the funds. EPA's fair share is the amount computed by applying the percentage of EPA participation in the total capitalization of the RLF to the current fair market value of the assets thereof. EPA also has remedies under Remedies for Noncompliance at 2 CFR 200.338 through 200.342 and CERCLA § 104(k) when the Agency determines that the value of such assets has been reduced by improper/illegal use of cooperative agreement funding. In such instances, the CAR may be required to compensate EPA over and above the Agency’s share of the current fair market value of the assets. Nothing in this agreement limits EPA’s authorities under CERCLA to recover response costs from a potentially responsible party.

Recovery of RLF Assets. 1. In case of termination for cause or conveniencetermination, the CAR shall return to EPA its fair share of the value of the RLF assets consisting of cash, receivables, personal and real property, and notes or other financial instruments developed through use of the funds. EPA's fair share is the amount computed by applying the percentage of EPA participation in the total capitalization of the RLF to the current fair market value of the assets thereof. EPA also has remedies under Remedies for Noncompliance at 2 CFR §§ 200.338 through 200.342 and CERCLA § 104(k) when the Agency EPA determines that the value of such assets has been reduced by improper/illegal use of cooperative agreement funding. In such instances, the CAR may be required to compensate EPA over and above the AgencyEPA’s share of the current fair market value of the assets. Nothing in this agreement limits EPA’s authorities under CERCLA to recover response costs from a potentially responsible party.