Promptly upon receipt of an application, the Efficiency in Education Foundation will notify the qualifying organization of such receipt, and will provide the qualifying organization with formal notification of an award, or a denial due to organization ineligibility or a lack of funds within the Foundation.
If a grant is awarded, the receiving organization shall have thirty (30) calendar days to sign the applicable “Proposal” with Yellow Folder, LLC in order to claim the grant. A failure to sign a “Proposal” in this time frame will automatically result in a forfeiture of the grant. The receiving organization will be required to reapply for a replacement grant, subject to the Eligibility rules, listed above.
The Foundation will provide all claimed grant awards directly to Yellow Folder, LLC as partial satisfaction of the receiving organization’s obligations pursuant to the applicable Yellow Folder, LLC “Proposal”.
If the receiving organization or Yellow Folder, LLC subsequently terminates or cancels the applicable “Proposal” for any reason whatsoever, the grant described herein shall automatically terminate and the receiving organization shall have not right to the funds. Yellow Folder, LLC will immediately return all applicable funds to the Foundation for redistribution via other awards. The qualifying organization will be required to reapply for a replacement grant, subject to the Eligibility rules, listed above.