Eligible Costs II.14.1 Eligible costs of the action are costs actually incurred by a beneficiary, which meet the following criteria: – they are incurred during the duration of the action as specified in Article I.2.2 of the agreement, with the exception of costs relating to final reports and certificates on the action’s financial statements and underlying accounts; – they are connected with the subject of the agreement and they are indicated in the estimated overall budget of the action; – they are necessary for the implementation of the action which is the subject of the grant; – they are identifiable and verifiable, in particular being recorded in the accounting records of a beneficiary and determined according to the applicable accounting standards of the country where the beneficiary is established and according to the usual cost-accounting practices of the beneficiary; – they comply with the requirements of applicable tax and social legislation; – they are reasonable, justified, and comply with the requirements of sound financial management, in particular regarding economy and efficiency. The beneficiaries’ accounting and internal auditing procedures must permit direct reconciliation of the costs and revenue declared in respect of the action with the corresponding accounting statements and supporting documents.
Calculation Any figure or percentage referred to in this Agreement shall be carried to seven decimal places.
SALES PRICE A. Cash portion of Sales Price payable by Buyer at closing $
Payments from the Gross Settlement Amount The Administrator will make and deduct the following payments from the Gross Settlement Amount, in the amounts specified by the Court in the Final Approval:
Gross Revenue 16.1.1 For the purposes of this PPP Agreement and its Schedules, Gross Revenue shall be defined as:
