Common use of FINAL AMOUNT OF THE GRANT Clause in Contracts

FINAL AMOUNT OF THE GRANT. Final amount If the eligible costs at the end of the project are less than the estimated eligible costs as referred to in Article 3.1, the grant shall be limited to the amount obtained by applying the percentage laid down in Article 3.2 to the eligible costs of the project approved by the MA. No profit The grant may not produce a profit for the Lead Partner and the Partners during the implementation period. Profit is defined as a surplus of the receipts over the eligible costs approved by the MA when the request for payment of the final balance is made. The receipts to be taken into account are the consolidated receipts on the date on which the payment request for the final balance is made by the Lead Partner that fall within one of the two following categories:

FINAL AMOUNT OF THE GRANT. Final amount If the eligible costs at the end of the project are less than the estimated eligible costs as referred to in Article 3.1, the grant shall be limited to the amount obtained by applying the percentage laid down in Article 3.2 to the eligible costs of the project approved by the MA. The revenue generated by the project shall be declared in the final report and shall be deducted from the final payment. No profit The grant may not produce a profit for the Lead Partner and the Partners during the implementation period. Profit is defined as a surplus of the receipts over the eligible costs approved by the MA when the request for payment of the final balance is made. The receipts to be taken into account are the consolidated receipts on the date on which the payment request for the final balance is made by the Lead Partner that fall within one of the two following categories: