Examples of Provincial Contribution in a sentence
Without limiting the Province’s right to terminate the Agreement pursuant to subsection 6.3, if the amount of the appropriation is reduced or denied by the Legislative Assembly of British Columbia, the Parties will review the effects of such a Provincial Contribution shortfall on the implementation of the Agreement and may adjust, as appropriate, the Project and the Recipient’s obligations under this Agreement.
The Province shall have no liability under this Agreement, except for payments of the Provincial Contribution, in accordance with and subject to the provisions of this Agreement.
The purpose of the Provincial Contribution is to provide financial assistance to the Recipient solely for the purpose of implementing the Project in accordance with the terms and conditions set out in this Agreement.
The Province shall be responsible only for the disbursement of the Provincial Contribution pursuant to the terms and conditions of this Agreement.
The Recipient shall establish and maintain sound financial and management practices that will ensure the Provincial Contribution is expended in accordance with the terms of this Agreement.
The Recipient agrees to use the Provincial Contribution solely for this purpose.
For greater clarity, the Recipient acknowledges that it is receiving the Provincial Contribution solely as financial assistance to support the Recipient’s Project and is not providing goods or services to the Province.
The Recipient acknowledges and agrees that, at the Province’s sole discretion, the amount of the Provincial Contribution may be reduced to the extent of any additional Government financial assistance, or the Province may require the Recipient to repay the excess amount of the Provincial Contribution it received, and any such amount will be treated as an Overpayment under this Agreement and shall be recoverable by the Province pursuant to subsection 9.7.
The Recipient shall keep and maintain books of account and other records in which all receipts, disbursements, costs, technical specifications and activities in relation to the Project are recorded in a segregated fashion, and in a manner which shall demonstrate the application of the Provincial Contribution received from the Province to reimburse Eligible Costs.
Upon the request of the Recipient, at the Province’s sole discretion, the Province may agree to provide an advance payment of the Provincial Contribution, or a portion of the Provincial Contribution, to the Recipient (an “Advance Payment”).