Common use of Stacking Limit Clause in Contracts

Stacking Limit. If the Program Guide, Schedule A or Schedule B contains any government funding stacking limitation or restriction applicable to the Project ("Stacking Limit"), then the Applicant shall comply with such Stacking Limit. If there is such a Stacking Limit, then: (a) for the purposes of monitoring the Stacking Limit, the Applicant shall disclose to Alberta Innovates all funding assistance received from any government body for the Project ("Government Funding") both before the Effective Date and throughout the Term; and (b) if the total amount of Government Funding received by the Applicant, Including the Investment, is in excess of the Stacking Limit at any time during the Term, Alberta Innovates may Elect to unilaterally reduce the Investment such that the Stacking Limit is not exceeded, or to reclaim any portions of the Investment paid in excess of the Stacking Limit. Alberta Innovates will provide prompt Notice to the Applicant of any such reduction or reclamation.