Common use of REIMBURSEMENT OF FUNDS Clause in Contracts

REIMBURSEMENT OF FUNDS. In the event that University’s right to use the facilities should be terminated by Owner before the 20-year term, the state shall be reimbursed by Owner. The reimbursement to be calculated by dividing the funds provided by the State of Ohio by 20 and multiplying that sum by 20 less the number of full years the facility or equipment is used by the institution.

REIMBURSEMENT OF FUNDS. In the event that the University’s right to use the facilities should be terminated by Owner before the 20-year term, the state shall be reimbursed by Owner. The reimbursement to be calculated by dividing the funds provided by the State of Ohio by 20 and multiplying that sum by 20 less the number of full years the facility or equipment is used by the institution.