Common use of Special Security with Respect to Grant Assets Clause in Contracts

Special Security with Respect to Grant Assets. (a) Given the significant Grant to the Project, the government must be provided an exclusive first lien on all Grant assets during the Service Obligation of the Award, as defined in Section 5.10, which shall not be shared pari passu with any other entity. Thereafter, any sale or disposition of grant assets must comply with the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, codified in 2 C.F.R. part 200. Awardee acknowledges that this part will apply to all grant funds of Awardee, regardless of Awardee’s entity status or type of organization.

Special Security with Respect to Grant Assets. (a) Given the significant Grant to the Project, the government must be provided an exclusive first lien on all Grant assets during the Service Obligation of the Award, as defined in Section 5.10, which shall not be shared pari passu with any other entity. Thereafter, any sale or disposition of grant assets must comply with the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, codified in 2 C.F.R. part 200. The Awardee acknowledges that this part will apply to all grant funds of the Awardee, regardless of Awardee’s entity status or type of organization.

Special Security with Respect to Grant Assets. (a) Given the significant Grant grant to the Project, the government must be provided an exclusive first lien on all Grant grant assets during the Service Obligation of the Award, as defined in Section 5.105.7, which shall not be shared pari passu with any other entity. Thereafter, any sale or disposition of grant assets must comply with the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, codified in 2 C.F.R. part 200. Awardee acknowledges that this part will apply to all grant funds of Awardee, regardless of Awardee’s entity status or type of organization.