ACTIVITIES AND FUNDING Sample Clauses

ACTIVITIES AND FUNDING. PAYMENT OF FUNDS The Commonwealth must pay to DA Dairy Service Payments and Commonwealth Matching Payments by a method agreed by both parties. The Commonwealth must pay the Dairy Service Payments amounts to DA as soon as reasonably practicable after the Commonwealth receives the Dairy Service Payments in cleared funds. Payments to DA must be made as soon as reasonably practicable after the 15th day and the final Business Day of each month. Any Unmatched Research & Development Excess will be rolled over into the following financial years in accordance with section 6 of the Act. The Commonwealth must give DA, a non-binding estimate of the amount of costs incurred by the Commonwealth in relation to the collection, recovery and administration of the Levy. DA must provide a non-binding estimate of the amount of the dairy service levy and matching payment payable to DA for the current and forward financial years upon request by the Commonwealth. Subject to applicable limits under the Act, the Commonwealth must use its reasonable endeavours to pay the Commonwealth Matching Funds to DA as soon as practicable after receiving from DA: a valid claim for payment; and evidence satisfactory to the Commonwealth that DA has spent the amount that forms the basis of the claim on Research and Development Activities. For the purposes of clause 24.6 (b) certificate signed by the Chief Executive Officer (or equivalent), the Chief Financial Officer or the Secretary of DA, certifying that DA has spent a particular amount on Research and Development, is satisfactory evidence in the absence of any evidence to the contrary. The final claim for a Financial Year must be supported by an independent audit report which confirms: the total amount of R&D Expenditure for the relevant Financial Year; and that claims for Commonwealth Matching Payments under clause 24.6 and the declared R&D Expenditure for that Financial Year are accurate and in accordance with the Act and this Agreement. MANAGEMENT OF THE FUNDS DA must establish and maintain accounting systems, processes and controls to ensure: Funds are spent only in accordance with this Agreement and the Act; all dealings with the Funds are properly authorised, conducted and accounted for; and an auditor is able to readily verify that the Funds have been used only in accordance with this Agreement and the Act. DA must notify the Commonwealth of the details of the systems, procedures and controls established in accordance with clause 25.1 on...