Common use of Remaining Balance Clause in Contracts

Remaining Balance. In the event the Funding Recipient does not submit invoices requesting all of the funds encumbered under this Funding Agreement, any remaining funds revert to the State. The State will notify the Funding Recipient stating that the Project file is closed, and any remaining balance will be disencumbered and unavailable for further use under this Funding Agreement.

Remaining Balance. In the event the Funding Recipient does not submit invoices requesting all of the funds encumbered under this Funding Grant Agreement, any remaining funds revert to the State. The State will notify the Funding Recipient stating that the Project file is closed, closed and any remaining balance will be disencumbered and unavailable for further use under this Funding Agreement.

Remaining Balance. In the event the Funding Recipient does not submit invoices requesting all of the funds encumbered under this Funding Agreement, any remaining funds revert to the State. The State will notify the Funding Recipient stating that the Project file is closed, closed and any remaining balance will be disencumbered and unavailable for further use under this Funding Grant Agreement.