Examples of Designated Payee in a sentence
Likewise, each Co-Sponsor shall remain jointly and severally liable to the Department for performance under this Standard Agreement and compliance with all Program Requirements regardless of any Department-approved transfer or assignment of interest; any designation of a third party for the undertaking of all or any part of the Scope of Work; or the Co-Sponsors’ identification of a Designated Payee.
The Designated Payee, and each of the other Co-Sponsors, hereby acknowledge that loaning Program grant funds awarded pursuant to this Agreement, including, without limitation, loaning said Program Grant funds to another Co-Sponsor, does not constitute an Eligible Use of the Program Grant funds.