Common use of MC Budget Consideration Clause in Contracts

MC Budget Consideration. Once a project has been approved by the ASC for support under the Fund, the MC shall review the funding requirements of the project. For purposes of the Fund, the budget approved by the ASC for a project shall be regarded as an indicative budget. The MC may streamline the budget or scale it down, provided that it cannot approve a funding commitment higher than the indicative budget approved by the ASC. The MC shall consult closely with the project proponent(s) in the process of reviewing the financial requirements of the project. The MC shall establish its own rules of procedure to ensure expeditious action on funding requests put forward before it.

MC Budget Consideration. 7. Once a project has been approved by the ASC for support under the Fund, the MC shall review the funding requirements of the project. For purposes of the Fund, the budget approved by the ASC for a project shall be regarded as an indicative budget. The MC may streamline the budget or scale it down, provided that it cannot approve a funding commitment higher than the indicative budget approved by the ASC. 8. The MC shall consult closely with the project proponent(s) in the process of reviewing the financial requirements of the project. 9. The MC shall establish its own rules of procedure to ensure expeditious action on funding requests put forward before it.

MC Budget Consideration. ‌ 7. Once a project has been approved by the ASC for support under the Fund, the MC shall review the funding requirements of the project. For purposes of the Fund, the budget approved by the ASC for a project shall be regarded as an indicative budget. The MC may streamline the budget or scale it down, provided that it cannot approve a funding commitment higher than the indicative budget approved by the ASC. 8. The MC shall consult closely with the project proponent(s) in the process of reviewing the financial requirements of the project. 9. The MC shall establish its own rules of procedure to ensure expeditious action on funding requests put forward before it.