European Union Solidarity Fund (EUSF) Sample Clauses

European Union Solidarity Fund (EUSF). The European Union Solidarity Fund (EUSF), created in 2002, is a union-wide fund that provides financial assistance to MS following a catastrophic event. It is activated at the request of a MS or negotiating country when natural disasters occur or, since the revision of 1 April 2020, in the case of a major public health emergency. Eligibility is determined by total direct damage exceeding a country-specific threshold, distinguishing for disasters of national or regional level. The aid available in a given year is divided among qualified requests. To be activated, the EUSF must receive the full backing of the MSs and the Parliament, and it is not just an administrative decision by the Commission. The stated total budget for EUSF (2021-2027) is €4.1 billion, not including the total amounts for the Solidarity and Emergency Aid Reserve.4 Insurable damage is excluded from the compensation, even though the term ‘insurability’ lacks a formal definition. Thus, under the EUSF, all private assets (residential, businesses, agriculture, etc.) are considered insurable and are, therefore, not suitable for relief. By contrast, all non-insured publicly owned assets (e.g., 4 For more details see: xxxxx://xxxxxxxxxx.xxxxxx.xx/strategy-and-policy/eu-budget/performance-and- reporting/programme-performance-statements/european-union-solidarity-fund-performance buildings, infrastructures) are potentially eligible for aid. Prevention and preparedness investments are also excluded from the scope of the EUSF. Nonetheless, reducing existing risks by ‘building back better’ is encouraged by covering the additional funding needs from other sources (which may also include the European Regional Development Fund and EU Cohesion Fund; (European Commission, 2021)).
Sample 1
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Related to European Union Solidarity Fund (EUSF)

  • WHEREAS the Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"); and

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Definitions For purposes of this Agreement:

  • NOW, THEREFORE the parties hereto agree as follows:

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Counterparts This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

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