Examples of Award Amount in a sentence
If the verified nutrient reduction achieved by the Project during any Commission Fiscal Year is less than the amount of the maximum reduction set forth in Exhibit B to this Contract, the Commission shall disburse Award Amount funds in an amount proportionate to the verified nutrient reduction achieved during such Commission Fiscal Year based on the price per pound of reduction set forth in Exhibit B to this Contract.
If the verified nutrient reductions achieved by the Project during any Commission Fiscal Year exceeds the amount of the maximum reduction set forth in Exhibit B to this Contract, the Commission, in its discretion, may disburse Award Amount funds for the excess amounts from the allocation for future years provided the total payout does not exceed the maximum amount set forth in this Contract.
The Commission will disburse to Contractor proceeds of the Award Amount for the reduction of nutrients in accordance with the schedule set forth in Exhibit B, entitled “Annual Reductions and Award Payment Schedule,” attached hereto and made a part hereof (hereinafter “Exhibit B”).
Neither this Contract nor the Award Amount may be assigned by the Contractor for any reason without the prior written consent of the Commission.
No event has occurred and no condition exists that, upon execution of this Contract or receipt of the Award Amount, would constitute a Default hereunder.