Common use of Liability of the Commission Clause in Contracts

Liability of the Commission. 7.4.1 In its role as Manager or Accounting Officer of the Trust Fund, the Commission shall exercise the same level of care under the Constitutive Agreement as it exercises in the management of the budgets for which management responsibility is conferred on it under the Treaties. It shall assume its managerial and fiduciary responsibility as part of the discharge, in accordance with Article 187(10) of the Financial Regulation, applicable by virtue of Article 42 of the Financial Regulation of the 11th EDF. 7.4.2 The obligations of the Commission in respect of the Trust Fund and the donors shall be limited to those expressly provided for in the Constitutive Agreement. Article 8 Financial management of the Trust Fund

Liability of the Commission. 7.4.1 In its role as Manager or Accounting Officer of the Trust Fund, the Commission shall exercise the same level of care under the Constitutive Agreement as it exercises in the management of the budgets for which management responsibility is conferred on it under the Treaties. It shall assume its managerial and fiduciary responsibility as part of the discharge, in accordance with Article 187(10) of the Financial Regulation, applicable by virtue of Article 42 of the Financial Regulation of the 11th EDF. 7.4.2 The obligations of the Commission in respect of the Trust Fund and the donors shall be limited to those expressly provided for in the Constitutive Agreement. Article 8 Financial management of the Trust Fund

Liability of the Commission. 7.4.1 In its role as Manager or Accounting Officer of the Trust Fund, Fund the Commission shall exercise the same level of care under the Constitutive Agreement as it exercises in the management of the budgets for which management responsibility is conferred on it under the Treaties. It shall assume its managerial and fiduciary responsibility as part of the discharge, in accordance with Article 187(10) of the Financial Regulation, applicable by virtue of Article 42 of the Financial Regulation of the 11th EDF. 7.4.2 The obligations of the Commission in respect of the Trust Fund and the donors shall be limited to those expressly provided for in the Constitutive Agreement. Article 8 Financial management of the Trust Fund