Payments to Parties are the exclusive tasks of the Coordinator Sample Clauses

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 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 more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted.
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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.
Sample 1
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 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 more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted. The payment schedule, which contains the transfer of pre-financing and interim payments to Parties, will be handled according to the following. The Coordinator is entitled to withhold any payments due to a Party identified by a responsible Consortium Body to be in potential breach of its obligations under this Consortium Agreement or the Grant Agreement (e.g.: a partner producing poor quality work or not providing deliverables or not implementing action tasks listed in the Grant Agreement on time etc.) or to a Beneficiary which has not yet signed this Consortium Agreement. The Coordinator is entitled to recover any payments already paid to a Defaulting Party. The Coordinator is equally entitled to withhold payments to a Party when this is suggested by or agreed with the Funding Authority.
Sample 1
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 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 more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted. Requests by the Parties to the Coordinator for their portion of payments shall be made within thirty (30) days of such request, after EU funds were received by the coordinator.
Sample 1
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 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 more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted. Each Party is responsible to ensure that the Coordinator at all times have the correct bank details and relevant references for the transfer of funds from the Funding Authority.
Sample 1

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