Common use of Xxxxx or Failure to Return Funds Clause in Contracts

Xxxxx or Failure to Return Funds. Should the Subrecipient fail to reimburse the City for any Payment in Error or Federal Disallowance within the time designated, the City may respond with any number of the following actions: 1. Charge an interest rate as determined by the State of Florida, Chief Financial Officer, pursuant to Chapter 55, Florida Statutes, on the amount of the overpayment or outstanding balance thereof. Interest shall accrue from the date of the Subrecipient’s initial receipt of overpayment funds up to the date of reimbursement of said overpayment funds to the City; 2. Withhold any or all future payments until the amount of such overpayment has been recovered by the City; 3. Terminate this Agreement; 4. Bar the Subrecipient from being considered when issuing future Awards or other City agreements; and 5. Pursue any other remedies permitted by law.