Common use of - FINANCIAL PENALTIES Clause in Contracts

- FINANCIAL PENALTIES. ‌ 1. A beneficiary that has been guilty of making false declarations or has been found to have seriously failed to meet its obligations under this grant agreement shall be liable to financial penalties of between 2% and 10% of the value of the financial contribution of [the Union] [Euratom] received by that beneficiary. The rate may be increased to between 4% and 20% in the event of a repeated offence within five years following the first infringement. 2. In the cases of paragraph 1, beneficiaries shall be excluded from all Union and Euratom grants for a maximum of two years from the date the infringement has been established. 3. The provisions in this Article shall be without prejudice to any administrative or financial sanction that may be imposed on any defaulting beneficiary in accordance with the Financial Regulation or to any other civil remedy to which [the Union] [Euratom] or any other beneficiary may be entitled. Furthermore, these provisions shall not preclude any criminal proceedings which may be initiated by the Member States' authorities. Part C INTELLECTUAL PROPERTY RIGHTS, USE AND‌ SECTION 1 – FOREGROUND‌

- FINANCIAL PENALTIES. ‌ 1. A beneficiary Beneficiary that has been guilty of making false declarations or has been found to have seriously failed to meet its obligations under this grant agreement Grant Agreement shall be liable to financial penalties of between 2% and 10% of the value of the financial contribution of [the Union] [Euratom] BONUS EEIG received by that beneficiaryBeneficiary. The rate may be increased to between 4% and 20% in the event of a repeated offence within five years following the first infringement. 2. In the cases of paragraph 1, beneficiaries Beneficiaries shall be excluded from all BONUS and European Union and Euratom grants for a maximum of two five years from the date the infringement has been established. 3. The provisions in this Article shall be without prejudice to any administrative or financial sanction that may be imposed on any defaulting beneficiary Beneficiary in accordance with the Financial Regulation Regulation8 or to any other civil remedy to which [the BONUS EEIG, the European Union] [Euratom] , National Funding Institutions or any other beneficiary Beneficiary may be entitled. Furthermore, these provisions shall not preclude any criminal proceedings which may be initiated by the Member States' authorities. Part C INTELLECTUAL PROPERTY RIGHTS8 Council Regulation (EC, USE AND‌ SECTION 1 – FOREGROUND‌Euratom) No 1605/2002 of 25 June 2002 OJ L 248, 16.9.2002, p. 1.

- FINANCIAL PENALTIES. ‌ 1. A beneficiary that has been guilty of making false declarations or has been found to have seriously failed to meet its obligations under this grant agreement shall be liable to financial penalties of between 2% and 10% of the value of the financial contribution of [the Union] [Euratom] received by that beneficiary. The rate may be increased to between 4% and 20% in the event of a repeated offence within five years following the first infringement. 2. In the cases of paragraph 1, beneficiaries shall be excluded from all Union and Euratom grants for a maximum of two years from the date the infringement has been established. 3. The provisions in this Article shall be without prejudice to any administrative or financial sanction that may be imposed on any defaulting beneficiary in accordance with the Financial Regulation or to any other civil remedy to which [the Union] [Euratom] or any other beneficiary may be entitled. Furthermore, these provisions shall not preclude any criminal proceedings which may be initiated by the Member States' authorities. Part C INTELLECTUAL PROPERTY RIGHTS, USE AND‌ SECTION 1 – FOREGROUND‌AND

- FINANCIAL PENALTIES. ‌ 1. A beneficiary Beneficiary that has been guilty of making false declarations or has been found to have seriously failed to meet its obligations under this grant agreement Grant Agreement shall be liable to financial penalties of between 2% and 10% of the value of the financial contribution of [the Union] [Euratom] BONUS EEIG received by that beneficiaryBeneficiary. The rate may be increased to between 4% and 20% in the event of a repeated offence within five years following the first infringement. 2. In the cases of paragraph 1, beneficiaries Beneficiaries shall be excluded from all BONUS and European Union and Euratom grants for a maximum of two five years from the date the infringement has been established. 3. The provisions in this Article shall be without prejudice to any administrative or financial sanction that may be imposed on any defaulting beneficiary Beneficiary in accordance with the Financial Regulation Regulation8 or to any other civil remedy to which [the BONUS EEIG, the European Union] [Euratom] , National Funding Institutions or any other beneficiary Beneficiary may be entitled. Furthermore, these provisions shall not preclude any criminal proceedings which may be initiated by the Member States' authorities. Part C INTELLECTUAL PROPERTY RIGHTS8 Council Regulation (EC, USE AND‌Euratom) No 1605/2002 of 25 June 2002 OJ L 248, 16.9.2002, p. 1. SECTION 1 – FOREGROUND‌FOREGROUND