Common use of Bank interests Clause in Contracts

Bank interests. The Humanitarian Organisation shall inform the Commission of the amount of any interest or equivalent benefits yielded by the pre-financing payment received from the Commission. Interest earned by the Organisation shall be identified as such and reflected in reports to the Commission. If the interests in question represent a significant amount, they shall be reimbursed to the Commission once a year. The interests shall not be treated as a receipt for the Operation.

Appears in 5 contracts

Samples: Grant Agreement, Grant Agreement, Grant Agreement

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.