Common use of Restrictions on the Use of Program Income Clause in Contracts

Restrictions on the Use of Program Income. (a) The Recipient shall not use any Program Income in a manner other than as authorized under this Assistance Agreement, as described in Section 3.8, unless the Recipient consults with and obtains the prior written approval of the CDFI Fund. (b) The Recipient shall not use any Program Income earned hereunder to pay any person to influence or attempt to influence any agency, elected official, officer or employee of a State or local government in connection with the making, award, extension, continuation, renewal, amendment, or modification of any State or local government contract, grant, loan or cooperative agreement as such terms are defined in 31 U.S.C. § 1352. (c) The Recipient shall not use any Program Income to pay any costs incurred in connection with (i) any defense against any claim or appeal of the United States Government, any agency or instrumentality thereof (including the CDFI Fund), against the Recipient, or (ii) any prosecution of any claim or appeal against the United States Government, any agency or instrumentality thereof (including the CDFI Fund), which the Recipient instituted or in which the Recipient has joined as a claimant. (d) The Recipient shall not use any Program Income for Indirect Costs, as defined in the Uniform Administrative Requirements. (e) In no event shall the Recipient use any Program Income for Economic Development Activities during the Investment Period, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Economic Development Activities, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is used for Economic Development Activities, the total amount of CMF Award and Program Income used for Economic Development Activities may not exceed thirty percent (30%) of the CMF Award amount (i.e. the amount of the CMF award listed on the signature page of this Assistance Agreement times 30%). (f) In no event shall the Recipient use any Program Income for Direct Administrative Expenses during the Investment Period, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Direct Administrative Expenses, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is used for Direct Administrative Expenses, the total amount of CMF Award and Program Income used for Direct Administrative Expenses may not exceed five percent (5%) of the CMF Award amount (i.e. the amount of the CMF award listed on the signature page of this Assistance Agreement times 5%). (g) The Recipient may use Program Income earned in the form of principal and equity repayments on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreement. However, such Program Income earned in the form of principal and equity repayments cannot be counted in the Eligible Project Costs calculation on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreement.

Restrictions on the Use of Program Income. (a) The Recipient shall not use any Program Income in a manner other than as authorized under this Assistance Agreement, as described in Section 3.8, unless the Recipient consults with and obtains the prior written approval of the CDFI Fund. (b) The Recipient shall not use any Program Income earned hereunder to pay any person to influence or attempt to influence any agency, elected official, officer or employee of a State or local government in connection with the making, award, extension, continuation, renewal, amendment, or modification of any State or local government contract, grant, loan or cooperative agreement as such terms are defined in 31 U.S.C. § 1352. (c) The Recipient shall not use any Program Income to pay any costs incurred in connection with (i) any defense against any claim or appeal of the United States Government, any agency or instrumentality thereof (including the CDFI Fund), against the Recipient, or (ii) any prosecution of any claim or appeal against the United States Government, any agency or instrumentality thereof (including the CDFI Fund), which the Recipient instituted or in which the Recipient has joined as a claimant. (d) The Recipient shall not use any Program Income for Indirect Costs, as defined in the Uniform Administrative RequirementsRequirements at 2 C.F.R. § 200.56. (e) In no event shall the Recipient use any Program Income for Economic Development Activities during the Investment PeriodActivities, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Economic Development Activities, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is To the extent that the Recipient has already used for Economic Development Activities, the total amount thirty percent (30%) of its CMF Award and Program Income used for Economic Development Activities may not exceed (i.e., disbursed thirty percent (30%) of the CMF Award amount (i.e. the amount of the CMF award listed on that is stated in the signature page of this Assistance Agreement times 30%Agreement), the Recipient shall not use any Program Income for any Economic Development Activity. (f) In no event shall the Recipient use any Program Income for Direct Administrative Expenses during the Investment PeriodExpenses, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Direct Administrative Expenses, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is To the extent that the Recipient has already used for Direct Administrative Expenses, the total amount five percent (5%) of its CMF Award and Program Income used for Direct Administrative Expenses may not exceed (i.e., disbursed five percent (5%) of the CMF Award amount (i.e. the amount of the CMF award listed on that is stated in the signature page of this Assistance Agreement times 5%Agreement). (g) The , the Recipient may shall not use any Program Income earned in the form of principal and equity repayments on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreement. However, such Program Income earned in the form of principal and equity repayments cannot be counted in the Eligible Project Costs calculation on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreementfor any Direct Administrative Expenses.

Restrictions on the Use of Program Income. (a) The Recipient shall not use any Program Income in a manner other than as authorized under this Assistance Agreement, as described in Section 3.8, unless the Recipient consults with and obtains the prior written approval of the CDFI Fund. (b) The Recipient shall not use any Program Income earned hereunder to pay any person to influence or attempt to influence any agency, elected official, officer or employee of a State or local government in connection with the making, award, extension, continuation, renewal, amendment, or modification of any State or local government contract, grant, loan or cooperative agreement as such terms are defined in 31 U.S.C. § 1352. (c) The Recipient shall not use any Program Income to pay any costs incurred in connection with (i) any defense against any claim or appeal of the United States Government, any agency or instrumentality thereof (including the CDFI Fund), against the Recipient, or (ii) any prosecution of any claim or appeal against the United States Government, any agency or instrumentality thereof (including the CDFI Fund), which the Recipient instituted or in which the Recipient has joined as a claimant. (d) The Recipient shall not use any Program Income for Indirect Costs, as defined in the Uniform Administrative RequirementsRequirements at 2 C.F.R. § 200.56. (e) In no event shall the Recipient use any Program Income for Economic Development Activities during the Investment Period, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Economic Development Activities, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is used for Economic Development Activities, the total amount of CMF Award and Program Income used for Economic Development Activities may not exceed thirty percent (30%) of the CMF Award amount (i.e. the amount of the CMF award listed on the signature page of this Assistance Agreement times 30%). (f) In no event shall the Recipient use any Program Income for Direct Administrative Expenses during the Investment Period, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Direct Administrative Expenses, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is used for Direct Administrative Expenses, the total amount of CMF Award and Program Income used for Direct Administrative Expenses may not exceed five percent (5%) of the CMF Award amount (i.e. the amount of the CMF award listed on the signature page of this Assistance Agreement times 5%). (g) The Recipient may use Program Income earned in the form of principal and equity repayments on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreement. However, such Program Income earned in the form of principal and equity repayments cannot be counted in the Eligible Project Costs calculation on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreement.

Restrictions on the Use of Program Income. (a) The Recipient shall not use any Program Income in a manner other than as authorized under this Assistance Agreement, as described in Section 3.8, unless the Recipient consults with and obtains the prior written approval of the CDFI Fund. (b) The Recipient shall not use any Program Income earned hereunder to pay any person to influence or attempt to influence any agency, elected official, officer or employee of a State or local government in connection with the making, award, extension, continuation, renewal, amendment, or modification of any State or local government contract, grant, loan or cooperative agreement as such terms are defined in 31 U.S.C. § 1352. (c) The Recipient shall not use any Program Income to pay any costs incurred in connection with (i) any defense against any claim or appeal of the United States Government, any agency or instrumentality thereof (including the CDFI Fund), against the Recipient, or (ii) any prosecution of any claim or appeal against the United States Government, any agency or instrumentality thereof (including the CDFI Fund), which the Recipient instituted or in which the Recipient has joined as a claimant. (d) The Recipient shall not use any Program Income for Indirect Costs, as defined in the Uniform Administrative RequirementsRequirements at 2 C.F.R. § 200.56. (e) In no event shall the Recipient use any Program Income for Economic Development Activities during the Investment Period, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Economic Development Activities, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is used for Economic Development Activities, the total amount of CMF Award and Program Income used for Economic Development Activities may not exceed thirty percent (30%) of the CMF Award amount (i.e. the amount of the CMF award listed on the signature page of this Assistance Agreement times 30%). (f) In no event shall the Recipient use any Program Income for Direct Administrative Expenses during the Investment Period, unless the Recipient has been authorized by the CDFI Fund to use its CMF Award for Direct Administrative Expenses, as so indicated in Schedule 1 of this Assistance Agreement. Furthermore, if Program Income is used for Direct Administrative Expenses, the total amount of CMF Award and Program Income used for Direct Administrative Expenses may not exceed five percent (5%) of the CMF Award amount (i.e. the amount of the CMF award listed on the signature page of this Assistance Agreement times 5%). (g) The Recipient may use Program Income earned in the form of principal and equity repayments on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreement. However, such Program Income earned in the form of principal and equity repayments cannot be counted in the Eligible Project Costs calculation on a Project that was supported and/or received prior funding from the CMF Award issued under this Assistance Agreement or another CMF Award issued under a different Assistance Agreement.