Article II. 14 Who Mandatory for all beneficiaries based on conditions set up in the GA Optional and foreseen for multiple beneficiaries based on criteria to be defined by the Commission (see above). Mandatory for beneficiaries which will use average personnel costs unless a certificate on the Methodology is provided. In this case, the certificate on the Methodology replaces the certificate on average personnel costs If total contribution < €,375,000 no certificate For beneficiaries with multiple participations The method has to be consistent with the management principles and usual accounting practices of Condition For projects > 2 years: Interim and/or final payment Each time that the cumulated EC contribution is not yet certified > €375.000 For projects ≤ 2 years: If total contribution > €375,000 Only one CFS at the final payment. Exception: When Certificate on the Methodology is accepted by the Commission, CFS not required for interim payment. the beneficiary The average costs cannot differ significantly from actual personnel costs. Scope The project and reporting periods concerned. It covers all eligible costs not yet certified By default, all the beneficiary's projects throughout FP7 By default, all the beneficiary's projects throughout FP7 Timing For projects ≤ 2 years: at the final payment For projects > 2 years: When criteria are met At any time of the implementation of FP7 but at the earliest on the start date of the first GA signed by the beneficiary under FP7 At any time of the implementation of FP7 but at the earliest on the start date of the first GA signed by the beneficiary under FP7 Form Detailed description verified as factual by external auditor or competent public officer Independent report on factual findings (Annex VII Form D) Independent report on factual findings (Annex VII Form E) Independent report on factual findings (relevant part of Form E) Advantage s Applying the CFS will increase the certainty on the eligibility of costs for the beneficiary When a Certificate on the Methodology is accepted by the Commission, no CFS required for interim payments If the Methodology is accepted, no risk of rectification after audit if the method is applied correctly If the Methodology is accepted, the average costs are deemed not to differ significantly from actual costs. If the Methodology is accepted, no risk of rectification after audit if the method is correctly applied.
Article II. The seller stipulates that the seller is the sole owner of the tract of land named above and has the full right and power to dispose of the timber specified in this agreement (3) Make certain that the timber you sell is, in fact, yours to sell. If you have any questions about title, liens or other encumbrances, see your lawyer.
Article II. A. By execution of this Participation Agreement, REC acknowledges its obligation to participate in the three (3) xxxxx described in Exhibit “E” (the “Xxxxx”) and the rig mobilization/demobilization to the Main Pass “A” Platform (the “Platform”). Concurrently with execution hereof, REC will execute and return to W&T each Authority for Expenditure (“AFE”) attached hereto as Exhibits “E-1, E-2, E-3 and E-4”, each AFE describing the drilling and evaluation of three (3) Test Xxxxx and the cost associated the mobilization and demobilization of the H&P Rig No. 206 to the Platform as listed below: AFE #D07021: Main Pass 283 – OCS-G 13662 Well X-0 XX-0 XXX #X00000: Xxxx Xxxx 000 - XXX-X 26168 Well X-0 XX-0 XXX #X00000: Xxxx Xxxx 000 - XXX-X 26168 Well A-5 ST-1 AFE #D07018: Rig Mobilization/Demobilization
Article II. A. Nondiscrimination
Article II. Subject of the Agreement" pár.2 of the Agreement is amended and reads: "The Contractor shall personalise the blank driving licences in the amount specified in the Client's order. The amount of the personalised blank driving licences shall not exceed 5,000 pieces a week, unless otherwise agreed by the parties."
Article II. Section 2.1. Transfer of the Shares........................................ 4 Section 2.2. Adjustments................................................... 5 ARTICLE III. Section 3.1.
Article II. The Credits -----------
Article II. 1. The Borrower agrees that the said Facilities together with interest, compound interest, additional interest, liquidated damages, costs, charges, expenses and other moneys; payable in respect thereof will be secured in favour of the said Banks by a First Pari Passu Charge by way of hypothecation and / or pledge of the borrower’s Current Assets, namely, Stocks of Raw Materials, Semi-Finished and Finished Goods, Stores and Spares, Packing material including those relating to plant and machinery, Consumable Stores & Spares, Bills Receivable, Book Debts, Subsidy Receivables and all other movables and immovable fixed assets of the Borrower (excluding Plant & Machineries and other fixed assets created/being created out of the term loan sanctioned by Canara Bank and Bank of Baroda), both present and future excluding such assets as may be permitted by the said Banks from time to time.
Article II. Article II of the Credit Agreement is amended by deleting Section 2.20(f) in its entirety and by substituting the following in its stead:
Article II. CREDIT ENHANCEMENT FEE; SERIES SUPPLEMENTS; THE COLLATERAL Section 2.01. Credit Enhancement Fee........................................................... 9 Section 2.02. Series Supplements............................................................... 9 Section 2.03. Grant of Security Interest by the Transferor..................................... 10 Section 2.04. Priority......................................................................... 10 Section 2.05. Transferor Remains Liable........................................................ 11 Section 2.06. Maintenance of Collateral........................................................ 11 Section 2.07. Termination and Release of Rights................................................ 12 Section 2.08. Non-Recourse Obligations of Transferor........................................... 13 ARTICLE III. SPREAD ACCOUNTS Section 3.01. Establishment of Spread Accounts; Initial Deposits into Spread Accounts............................................................... 13 Section 3.02. Investments...................................................................... 14 Section 3.03. Distributions; Priority of Payments.............................................. 15 Section 3.04. General Provisions Regarding Spread Accounts..................................... 17 Section 3.05. Reports by the Collateral Agent.................................................. 18 ARTICLE IV.
