Common use of Amount to be reduced — Calculation Clause in Contracts

Amount to be reduced — Calculation. Procedure The amount of the reduction will be proportionate to the seriousness of the errors, irregularities or fraud or breach of obligations. Before reduction of the grant, the Agency will formally notify a ‘pre-information letter’ to the beneficiary: - informing it of its intention to reduce the grant, the amount it intends to reduce and the reasons why and - inviting it to submit observations within 30 days of receiving notification. If the Agency does not receive any observations or decides to pursue reduction despite the observations it has received, it will formally notify confirmation of the reduction (if applicable, together with the notification of amounts due; see Article 21).

Amount to be reduced — Calculation. Procedure The amount of the reduction will be proportionate to the improper implementation of the action or to the seriousness of the errors, irregularities or fraud or breach of obligationsbreach. Before reduction of the grant, the [Commission][Agency] Agency will formally notify a ‘pre-information letter’ to the beneficiary: - informing it of its intention to reduce the grant, the amount it intends to reduce and the reasons why and - inviting it to submit observations within 30 days of receiving notification. If the [Commission][Agency] Agency does not receive any observations or decides to pursue reduction despite the observations it has received, it will formally notify confirmation of the reduction (if applicable, together with the notification of amounts due; see Article 21).

Amount to be reduced — Calculation. Procedure The amount of the reduction will be proportionate to the seriousness of the errors, irregularities or fraud or breach of obligations. Before reduction of the grant, the Agency will formally notify a ‘pre-information letter’ to the beneficiarycoordinator or beneficiary concerned: - informing it of its intention to reduce the grant, the amount it intends to reduce and the reasons why and - inviting it to submit observations within 30 days of receiving notification. If the Agency does not receive any observations or decides to pursue reduction despite the observations it has received, it will formally notify confirmation of the reduction (if applicable, together with the notification of amounts due; see Article 21).