Use and Flow of Funds Sample Clauses

Use and Flow of Funds. 7.2.1 Funds shall be used solely by Eligible Recipients to pay for the Eligible Costs of Eligible Projects. 7.2.2 Saskatchewan agrees to enter into a Funding Agreement with each Eligible Recipient prior to providing the Eligible Recipient with Funds under this Agreement, and to ensure that all requirements of this Agreement are met. 7.2.3 Saskatchewan agrees to include, in all Funding Agreements, the Eligible Recipient Requirements identified in Schedule C, and agrees to enforce all terms and conditions of the Funding Agreements, including the Eligible Recipient Requirements. 7.2.4 Saskatchewan agrees to pay to an Eligible Recipient its Fund allocation, established pursuant to this Agreement, within sixty days from the date a Funding Agreement is signed by Saskatchewan and the Eligible Recipient. 7.2.5 An Eligible Recipient shall repay any portion of Funds allocated to that Eligible Recipient under Section 7.1.1 of this Agreement and for which the Eligible Recipient has not, by March 31, 2010, submitted evidence satisfactory to Saskatchewan of having incurred Eligible Costs for Eligible Projects. Ministers may, after receiving the Committee’s advice, redirect these Funds to an alternative use consistent with the terms of this Agreement; otherwise, such Funds shall be deemed to constitute a debt to Canada and shall be paid back to Canada upon request. 7.2.6 Any Funds held by Saskatchewan which have not been provided to an Eligible Recipient by March 31, 2010, may be redirected by Ministers, after receiving the Committee’s advice, to an alternative use consistent with the terms of this Agreement; otherwise, such Funds shall be deemed to be a debt to Canada and shall be paid back to Canada upon request.
Sample 1
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