Common use of by drawing on the Guarantee Fund Clause in Contracts

by drawing on the Guarantee Fund. The [Commission][Agency] will formally notify the beneficiary the debit note on behalf of the Guarantee Fund and recover the amount: (i) [OPTION if Article 14 applies and joint and several liability has been requested by the [Commission][Agency]: if a linked third party has accepted joint and several liability (see Article 14), by holding the third party liable up to the maximum EU contribution indicated, for the linked third party, in the estimated budget (see Annex 2) and/or][OPTION: not applicable] (ii) by taking legal action or by adopting an enforceable decision under Article 299 of the Treaty on the Functioning of the EU (TFEU) [and Article 106a of the Euratom Treaty] (see Article 57). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 21.11, from the day following the payment date in the debit note, up to and including the date the [Commission][Agency] receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the beneficiary, unless Directive 2007/64/EC applies.

by drawing on the Guarantee Fund. The [Commission][Agency] Agency will formally notify the beneficiary the debit note on behalf of the Guarantee Fund and recover the amount: (i) [OPTION if Article 14 applies and joint and several liability has been requested by the [Commission][Agency]Agency: if a linked third party has accepted joint and several liability (see Article 14), by holding the third party liable up to the maximum EU contribution indicated, for the linked third party, in the estimated budget (see Annex 2) and/or][OPTIONand/or] [OPTION: not applicable] (ii) by taking legal action or by adopting an enforceable decision under Article 299 of the Treaty on the Functioning of the EU (TFEU) [and Article 106a of the Euratom Treaty] (see Article 57). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 21.11, from the day following the date for payment date in the debit note, up to and including the date the [Commission][Agency] Agency receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the beneficiary, unless Directive 2007/64/EC applies.

by drawing on the Guarantee Fund. The [Commission][Agency] will formally notify the beneficiary concerned the debit note on behalf of the Guarantee Fund and recover the amount: (i) [OPTION if Article 14 applies and joint and several liability has been requested by the [Commission][Agency]: if a linked third party has accepted joint and several liability (see Article 14), by holding the third party liable up to the maximum EU contribution indicated, for the linked third party, in the estimated budget (see Annex 2) and/or][OPTIONand/or] [OPTION: not applicable] (ii) by taking legal action or by adopting an enforceable decision under Article 299 of the Treaty on the Functioning of the EU (TFEU) [and Article 106a of the Euratom Treaty] (see Article 57). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 21.11, from the day following the date for payment date in the debit note, up to and including the date the [Commission][Agency] receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the beneficiary, unless Directive 2007/64/EC applies.

by drawing on the Guarantee Fund. The [Commission][Agency] Agency will formally notify the beneficiary the debit note on behalf of the Guarantee Fund and recover the amount: (i) [OPTION if Article 14 applies and joint and several liability has been requested by the [Commission][Agency]Agency: if a linked third party has accepted joint and several liability (see Article 14), by holding the third party liable up to the maximum EU contribution indicated, for the linked third party, in the estimated budget (see Annex 2) and/or][OPTION: not applicable] (ii) by taking legal action or by adopting an enforceable decision under Article 299 of the Treaty on the Functioning of the EU (TFEU) [and Article 106a of the Euratom Treaty] (see Article 57). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 21.11, from the day following the payment date in the debit note, up to and including the date the [Commission][Agency] Agency receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the beneficiary, unless Directive 2007/64/EC applies. 44.1.3 Recovery of amounts after payment of the balance

by drawing on the Guarantee Fund. The [Commission][Agency] will formally notify the beneficiary the debit note on behalf of the Guarantee Fund and recover the amount: (i) [OPTION if Article 14 applies and joint and several liability has been requested by the [Commission][Agency]: if a linked third party has accepted joint and several liability (see Article 14), by holding the third party liable up to the maximum EU contribution indicated, for the linked third party, in the estimated budget (see Annex 2) and/or][OPTIONand/or] [OPTION: not applicable] (ii) by taking legal action or by adopting an enforceable decision under Article 299 of the Treaty on the Functioning of the EU (TFEU) [and Article 106a of the Euratom Treaty] (see Article 57). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 21.11, from the day following the date for payment date in the debit note, up to and including the date the [Commission][Agency] receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the beneficiary, unless Directive 2007/64/EC applies.

by drawing on the Guarantee Fund. The [Commission][Agency] will formally notify the beneficiary concerned the debit note on behalf of the Guarantee Fund and recover the amount: (i) [OPTION if Article 14 applies and joint and several liability has been requested by the [Commission][Agency]: if a linked third party has accepted joint and several liability (see Article 14), by holding the third party liable up to the maximum EU contribution indicated, for the linked third party, in the estimated budget (see Annex 2) and/or][OPTION: not applicable] (ii) by taking legal action or by adopting an enforceable decision under Article 299 of the Treaty on the Functioning of the EU (TFEU) [and Article 106a of the Euratom Treaty] (see Article 57). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 21.11, from the day following the payment date in the debit note, up to and including the date the [Commission][Agency] receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the beneficiary, unless Directive 2007/64/EC applies.