Common use of - FINANCIAL PENALTIES Clause in Contracts

- FINANCIAL PENALTIES. Any beneficiary declared to be in grave breach of his obligations shall be liable to financial penalties of between 2% and 10% of the value of the grant in question, with due regard for the principle of proportionality.

Appears in 6 contracts

Samples: Grant Agreement, Grant Agreement, Grant Agreement

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- FINANCIAL PENALTIES. Any beneficiary Beneficiary declared to be in grave breach of his obligations shall be liable to financial penalties of between 2% and 10% of the value of the grant in question, with due regard for the principle of proportionality.

Appears in 1 contract

Samples: Grant Agreement

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