Payments to Parties Sample Clauses

Payments to Parties are the exclusive task of the Coordinator

Payments to Parties are the exclusive tasks of the Project Promoter In particular, the Project Promoter shall: - transfer the amounts to parties according to the payment schedule (point 7.3.2); - perform diligently its tasks in the proper administration of any funds; - undertake to keep the Programme Operator financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Project Promoter is a Public Body or is not entitled to do so due to statutory legislation.

Payments to Parties are the exclusive tasks of the Project Promoter

Payments to Parties are the exclusive tasks of the Coordinator. In particular, the Coordinator shall: - notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references - perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts - undertake to keep the Community financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation. - After approval of the periodic reports interim payments will follow and will be calculated on the basis of the accepted eligible costs and the corresponding reimbursement rates. The amounts paid for interim payments will correspond to the accepted EU contribution. With reference to Articles 21.2 and 21.3.2 of the Grant Agreement,, the total amount of interim payments + pre-financing will be limited to 90% of each beneficiary’s maximum EU contribution. In accordance with the Grant Agreement project end means the day when the payment of the balance is done by the Funding Authority. It will normally be paid within 90 days from receiving the final report.

Payments to Parties are the exclusive tasks of the Promoter

Payments to Parties are the exclusive tasks of the Coordinator.

Payments to Parties. Payments to Parties are the exclusive tasks of the Coordinator. ln particular, the Coordinator shall: • Notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references, • Perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts, • Undertake to keep the Community financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to national legislation. ,, Payment schedule

Payments to Parties are the exclusive task of the Coordinator It is the duty of each Party to provide the Coordinator with up-to-date bank details for the transfer of funding. In particular, the Coordinator shall: − notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references − perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts − undertake to keep the Granting Authority’s financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation. With reference to Article 22 of the Grant Agreement, no Party shall before the end of the Project receive more than its allocated share of the maximum grant amount less the amounts retained by the Granting Authority for the Mutual Insurance Mechanism and for the final payment. After approval of the periodic reports interim payments will follow and will be calculated on the basis of the accepted eligible costs and the corresponding reimbursement rates. The amounts paid for interim payments will correspond to the accepted EU contribution. With reference to Article 22 of the Grant Agreement, the total amount of interim payments + pre-financing will be limited to 90 % of each beneficiary’s maximum EU contribution (85 % taking into account 5 % MIM contribution). In accordance with the Grant Agreement, project end means the day when the payment of the balance is done by the Granting Authority.

Payments to Parties. (a) Upon termination of this Agreement in accordance with its terms (by an Event of Default, consummation of the Purchase Agreement, or expiration of the Term of this Agreement), Broker shall, within ten (10) days of such termination, pay to Licensee all monies due Licensee. (b) Notwithstanding any other provision in this Agreement, in the event that either party terminates this Agreement without consummation of the Purchase Agreement, Licensee shall have the option of (i) having assigned to it as of the date of termination all of the LMA Accounts Receivable generated during the Term of this Agreement along with the obligation to pay any and all outstanding obligations of Licensee or Broker under this Agreement or (ii) accepting an assignment of the LMA Accounts Receivable generated under this Agreement, to and including the date of termination, for a period of one hundred twenty (120) days (with all monies collected to be distributed to Broker after each 30-day period within the aforementioned 120-day collection period and a return of all uncollected LMA Accounts Receivable to Broker upon expiration of that 120-day collection period), with Broker retaining sole responsibility for making any and all payments for expenses incurred under this Agreement prior to the date of termination. Licensee shall advise Broker of its election simultaneously with the provision of notice of termination.

Payments to Parties. Payments to the Parties from the financial contribution of the Funding Authority are the exclusive tasks of the Coordinator. In particular, the Coordinator shall: notify the Parties concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts undertake to keep the Funding Authority’s financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation. With reference to Articles 21.2 and 21.3.2 of the Grant Agreement, no Party shall before the end of the Project receive all of its allocated share of the maximum grant amount. Any bank fees resulting from the transfer of funds to the Parties from the financial contribution of the Funding Authority shall be borne by the parties which receive these funds, and not by the coordinator.