Common use of REIMBURSEMENT LIMITATIONS Clause in Contracts

REIMBURSEMENT LIMITATIONS. Under no circumstances shall the Grantee seek reimbursement pursuant to this Agreement for a cost or activity that has been or will be paid for through another grant funding source. The Grantee shall not seek reimbursement for any costs used to meet cost sharing or matching requirements. All costs charged against the Agreement shall be net of all applicable credits. The term “applicable credits” refers to those receipts or reductions of expenditures that operate to offset or reduce expense items that are reimbursable under this Agreement. Applicable credits may include, but are not necessarily limited to, rebates or allowances, discounts, credits toward subsequent purchases, and refunds. Grantee shall deduct the amount of the credit from the amount billed as reimbursement for the cost, or deduct the amount of the credit from the total billed under a future invoice.