Recapture of Funds definition

Recapture of Funds. COUNTY reserves the right to recapture SLFRF Grant Funds provided to SUBRECIPIENT under the following circumstances:
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Recapture of Funds refers to CHFA’s right to take back grant funds already disbursed to a Sub-Grantee for reasons such as underperformance, non-compliance, end of grant period, and/or fraud.
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Examples of Recapture of Funds in a sentence

  • Recapture of Funds The discretionary right of DFA to terminate for convenience under Section 1.13 notwithstanding, DFA shall have the right to terminate the Grant Agreement and to recapture, and be reimbursed for any payments made by DFA: (i) that are not allowed under applicable laws, rules, and regulations; or (ii) that are otherwise inconsistent with this Grant Agreement, including any unapproved expenditures.

Related to Recapture of Funds

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Contract Funds means the funds that have been appropriated, designated, encumbered, or otherwise made available for payment by the State under this Contract.

  • Security Deposit means the deposit to be held by the owner as security for the due performance of the contractual obligations.

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.