Retention of Grant Sample Clauses

Retention of Grant. Without prejudice to any other provision of this Funding Agreement the Secretary of State will retain [10 ]% of the Grant which shall not be released unless and until the following events have occurred:- (a) Completion of the Project Activities; (b) the Secretary of State has received, and is satisfied with, the final monitoring report following the final monitoring visit; (c) all audit issues outstanding are resolved; and provided always that the release of the retention shall not operate as an acknowledgement or waiver and shall not preclude the Secretary of State from exercising any of its rights under this Funding Agreement.
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Retention of Grant. Without prejudice to any other provision of this Funding Agreement the Secretary of State will retain 10% of the Grant which shall not be authorised for release by the GLA unless and until the following events have occurred:- (a) completion of the Project Activities; (b) the GLA has received, and is satisfied with, the final monitoring report following the final monitoring visit; (c) all outstanding audit issues are resolved; and that the release of the retention shall not operate as an acknowledgement or waiver and shall not preclude the GLA from exercising any of its rights under this Funding Agreement.
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Related to Retention of Grant

  • Payment of Grant 4.1. Subject to the other terms of this Grant Agreement, DWP shall pay the Grant Recipient an amount not exceeding the Maximum Sum per Participant. The actual amount of the Grant to be paid to the Grant Recipient will be determined by the Eligible Expenditure incurred by the Grant Recipient during the Funding Period. 4.2. The Grant is a contribution only. The Grant Recipient is responsible for sourcing or providing the resources required for the Funded Activities. The Maximum Sum per Participant will not be increased in the event of any overspend by the Grant Recipient in its delivery of the Funded Activities. 4.3. DWP will only pay the Grant to the Grant Recipient in respect of Eligible Expenditure incurred by the Grant Recipient to deliver the Funded Activities. DWP will not make any Grant payment until it is satisfied that the Grant Recipient has paid for and delivered the Funded Activities or provided sufficient assurance that the Grant will be used for Eligible Expenditure only. 4.4. The Grant Recipient may request payment of the first Grant instalment once the Participant has commenced their employment with the Grant Recipient (see note 5 of Annex 3 for more detail on what this means). The Grant Recipient must not request payment of the first Grant instalment before the Participant has commenced employment with the Grant Recipient. The Grant Recipient will provide any information or documentation prescribed by DWP from time to time to evidence that the Participant has started and continues in work with the Grant Recipient as part of the Kickstart Scheme. Payment of the first Grant instalment will be made following receipt by DWP of a request for payment and confirmation to DWP’s satisfaction that the Participant has started employment with the Grant Recipient. 4.5. Following the first Grant instalment, DWP will provide subsequent instalments of the Grant in accordance with the payment schedule in Annex 3. 4.6. Without prejudice to DWP's other rights, DWP may at any time suspend payment of the Grant and/or terminate this Grant Agreement by written notice to the Grant Recipient in circumstances where DWP is for any reason unable or not permitted to provide the funds. 4.7. DWP will have no liability to the Grant Recipient for any Losses caused by a delay in the payment of the Grant howsoever arising. 4.8. The Grant Recipient will provide DWP with any evidence requested by DWP of the costs/payments classified as Eligible Expenditure in clause 5.2. 4.9. The Grant Recipient agrees that: 4.9.1. it will not apply for or obtain Duplicate Funding in respect of any part of the Funded Activities which have been paid for in full using the Grant; and 4.9.2. DWP may exercise its rights under clause 22.3 and/or refer the Grant Recipient to the police should it dishonestly and intentionally obtain Duplicate Funding for the Funded Activities. 4.10. The Grant Recipient shall promptly notify and repay immediately to DWP any money incorrectly paid to it either as a result of an administrative error or otherwise. This includes situations where the Grant Recipient is paid in error before it has complied with its obligations under this Grant Agreement. If the Grant Recipient fails to repay the due sum immediately or within any other timeframe specified by DWP, the sum may be recoverable as a debt. 4.11. The Grant Recipient will be the sole recipient of the Grant. The Grant Recipient shall be responsible for managing the Grant as between itself and any Third Parties involved in performing the Funded Activities. This includes securing the re-payment of the Grant if requested by DWP in accordance with this Grant Agreement. 4.12. As explained in section 4.3 of the Grant Offer Letter, Participants must work under the day-to- day direction and control of the Grant Recipient and not a Third Party, unless otherwise agreed by DWP in writing. If any Participant does work for a Third Party, then the Grant Recipient must ensure that Third Party complies with the terms and conditions of this Grant Agreement as if it was the Grant Recipient. 4.13. Wherever under this Grant Agreement any sum of money is recoverable from or payable by the Grant Recipient, DWP may unilaterally deduct that sum from any sum then due, or which at any later time may become due, to the Grant Recipient under this Grant Agreement or under any other agreement or contract with DWP.

  • Use of Grant 4.1 The Grant shall be used by the Recipient for the delivery of the Project in accordance with the agreed budget set out in Schedule 3. For the avoidance of doubt, the amount of the Grant that the Recipient may spend on any item of expenditure listed in column 1 of Schedule 3 shall not exceed the corresponding sum of money listed in column 2 without the prior written agreement of the Funder. 4.2 Where the Recipient has obtained funding from a third party in relation to its delivery of the Project (including without limitation funding for associated administration and staffing costs), the amount of such funding shall be included in the budget in Schedule 3 together with a clear description of what that funding shall be used for. 4.3 The Recipient shall not use the Grant to: (a) make any payment to members of its Governing Body; (b) purchase buildings or land; or (c) pay for any expenditure commitments of the Recipient entered into before the Commencement Date, unless this has been approved in writing by the Funder. 4.4 The Recipient shall not spend any part of the Grant on the delivery of the Project after the Grant Period. 4.5 Should any part of the Grant remain unspent at the end of the Grant Period, the Recipient shall ensure that any unspent monies are returned to the Funder or, if agreed in writing by the Funder, shall be entitled to retain the unspent monies to use for charitable purposes as agreed between the parties. 4.6 Any liabilities arising at the end of the Project including any redundancy liabilities for staff employed by the Recipient to deliver the Project must be managed and paid for by the Recipient using the Grant or other resources of the Recipient. There will be no additional funding available from the Funder for this purpose.