Common use of Financial Consequences for a leaving Party Clause in Contracts

Financial Consequences for a leaving Party. A Party leaving the Consortium shall refund all advances paid to it except the amount of expended eligible costs accepted by the European Commission. Furthermore a Defaulting Party shall, within the limits specified in Article 7.1.2 (c) of this Consortium Agreement, bear any additional costs occurring to the other Parties in order to perform its and their tasks.

Financial Consequences for a leaving Party. A Party leaving the Consortium shall refund all advances paid to it except the amount of expended eligible costs accepted by the European Commission. Furthermore a Defaulting Party shall, within the limits specified in Article 7.1.2 (c) 5.2 of this Consortium Agreement, bear any additional costs occurring to the other Parties in order to perform its and their tasksas result of the default.

Financial Consequences for a leaving Party. A Party leaving the Consortium shall refund all advances paid to it except the amount of expended eligible costs accepted by the European Commission. Furthermore a Defaulting Party shall, within the limits specified in Article 7.1.2 (c) 5.2 of this Consortium Agreement, bear any additional reasonable costs occurring to the other Parties in order to perform its and their tasks.

Financial Consequences for a leaving Party. A Party leaving the Consortium shall refund all advances paid to it except the amount of expended eligible costs accepted by the European Commission. Furthermore a Defaulting Party shall, within the limits specified in Article 7.1.2 (c) 5.2 of this Consortium Agreement, bear any additional costs occurring to the other Parties in order to perform its and their tasks.

Financial Consequences for a leaving Party. A Party leaving the Consortium shall refund all advances paid to it except the amount of expended eligible costs accepted by the European Commission. Furthermore a Defaulting Party shall, within the limits specified in Article 7.1.2 (c) 5.2 of this Consortium Agreement, bear any additional costs occurring to the other Parties in order to perform its and their taskstasks and/or for remedying or preventing any other contingent expenses deriving from the non-fulfilment of the Defaulting Party’s obligations.