Common use of RELEASE OF GRANT FUNDS Clause in Contracts

RELEASE OF GRANT FUNDS. A. Upon the execution of the Agreement by the parties and the receipt of an OSHE approved budget from the Grantee, payment of grant funds awarded under this Agreement shall be made by OSHE to the Grantee according to the schedule below: a. FY23 Article III 2023 Summer Program Advance (100% of allocation) b. FY24 Article III 2023 Summer Program* (Balance of allocation) c. FY23 Article IV 2023 Summer Program Funding (100% of allocation) d. FY24 Article IV Program Support* (75% of allocation pending institutional match) e. FY24 Article III Academic Year Undergraduate Advance (75% of half of allocation. Additional payments will be made based on the appropriate program roster after the final roster processing date at the end of each term.) f. FY24 Article III Academic Year Graduate Advance (100% of initial enrollment requests submitted) * = A second payment of the balance the funds awarded under this Agreement shall be made by OSHE to the Grantee no later than June 30, 2024, but only subsequent to the review and approval of the appropriate program roster or expenditure reports submitted to OSHE.

RELEASE OF GRANT FUNDS. A. Upon the execution of the Agreement by the parties and the receipt of an OSHE approved budget from the Grantee, payment of grant funds awarded under this Agreement shall be made by OSHE to the Grantee according to the schedule below: a. FY23 FY24 Article III 2023 2024 Summer Program Advance (100% of allocation) b. FY24 FY25 Article III 2023 2024 Summer Program* (Balance of allocation) c. FY23 FY24 Article IV 2023 2024 Summer Program Funding (100% of allocation) d. FY24 FY25 Article IV Program Support* (75% of allocation pending institutional match) e. FY24 FY25 Article III Academic Year Undergraduate Advance (75% of half of allocation. Additional payments will be made based on the appropriate program roster after the final roster processing date at the end of each term.) f. FY24 FY25 Article III Academic Year Graduate Advance (100% of initial enrollment requests submitted) * = A second payment of the balance the funds awarded under this Agreement shall be made by OSHE to the Grantee no later than June 30, 20242025, but only subsequent to the review and approval of the appropriate program roster or expenditure reports submitted to OSHE.