Common use of Financial collective responsibility Clause in Contracts

Financial collective responsibility. II.16.1. Should a specific agreement be terminated or the participation of a partner be terminated in accordance with Article II.12, and a partner does not honour the reimbursement of the amount due by that partner, the consortium will reimburse the amount due to the Agency.

Financial collective responsibility. II.16.1. Should a specific agreement be terminated or the participation of a partner be terminated in accordance with Article II.12, and a any partner does not honour the reimbursement of the amount due by that partner, the consortium will reimburse the amount due to the Agency.