Pre-financing payments Sample Clauses

Pre-financing payments. The aim of the pre-financing is to provide the beneficiary with a float. The pre-financing remains the property of the European Union (‘the Union’) until it is cleared against interim payments or, if it is not cleared against interim payments, until the payment of the balance.
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Pre-financing payments. The SJU shall, if the Consortium so requests, make a pre-financing payment to the Consortium within forty (40) calendar days from the date of receipt of request of pre- financing by the SJU. The SJU may request a bank guarantee in accordance with Article 13.3 (“Bank guarantee”) below. Pre-Financing is an advance on future payments whose main objective is to provide a portion of the initial financial resources required in the start-up phase of the Project. Any Pre- Financing shall remain the property of the SJU until approval of the Final Report. It shall in no way be construed as a payment of costs or expenses incurred by the Consortium before the Effective Date. The SJU may recover all or part of the Pre-Financing payment in accordance with Article 13.2 (“Final Payment”) below. The first pre-financing payment shall not exceed 30% of the maximum contribution of the SJU under this Agreement in accordance with Article 4 above. In accordance with Schedule 3, the second request for pre-financing payment shall be sent by the Consortium to the SJU [... month] 2013. Within forty (40) calendar days after the SJU receives the request for payment of this second pre-financing, a pre-financing payment of EUR […] shall be made to the Consortium, equivalent to 30% of the maximum amount of SJU Co-financing specified in Article 4. The SJU may refuse the second pre-financing request or reduce its percentage if the quarterly reports submitted by the Consortium demonstrate the existence of a delayed implementation. Interest accrued on Pre-Financing payments shall be auditable and deducted from the subsequent Final payment. Such interest shall be reported in the final cost statement, communicated to the SJU in the Final Report. The bank account mentioned in Article 5 above shall make it possible to identify the Pre- Financing and related interest. Otherwise, the accounting methods of the Consortium must make it possible to identify the Pre-Financing and the interest.
Sample 1
Pre-financing payments. The SJU shall, if the Consortium so requests, make a pre-financing payment to the Consortium within thirty
Sample 1
Pre-financing payments. The aim of the pre-financing is to provide the beneficiaries with a float. The pre-financing remains the property of the NA until the payment of the balance. Two pre-financing payments, with interim reports The NA must make a first pre-financing payment of EUR [insert amount] to the beneficiary within 30 calendar days following the entry into force of the Agreement corresponding to 80% of the maximum grant amount specified in Article I.3.1, except if Article II.24. applies. The NA must make a second pre-financing payment of EUR [insert amount] to the beneficiary within 60 calendar days from when the NA receives the request for second pre- financing payment referred to in Article I.4.3 except if Article II.24.1 or II.24.2 apply.
Sample 1

Related to Pre-financing payments

  • Making Payments You are responsible for paying back all the money we loan to you on the account. If this is a joint account, you are each responsible for the entire amount owed. • You promise to pay all amounts due on your account including interest and fees. • You may pay all or part of your account balance at any time. You must at least pay the minimum payment shown on each statement by its due date. • The minimum payment listed on each statement will be calculated as listed in the Schedule. • Payments must be made in U.S. dollars and through a U.S. bank. You agree to follow the payment requirements listed on each statement (for example, the time by when we need to receive payment and where your payment needs to be sent). If we accept a payment that is not in U.S. dollars or not through a U.S. bank, you agree to pay any extra fees or costs. We may accept payments that are marked “payment in full” or with similar markings without losing our right to receive payment in full. Partial payments offered in full satisfaction of a disputed amount must be sent to the address listed on your statement for notifying us of billing errors. • Each payment you make will be generally applied to your account as follows: (a) the minimum payment amount will be applied to balances with the lowest APRs before balances with higher APRs; and (b) any amount you pay in excess of the minimum payment will be applied to balances with the highest APRs before balances with lower APRs. Until a payment clears, you may not be able to access the full amount of your credit limit. • We will promptly apply other credits to your account. For example, such credits may include a credit for return of merchandise. These other credits will be applied to the Balance Category we select. 8 Interest rates (APRs) and how we calculate them. Where to find them. The APRs (and their daily periodic rates) in effect on your account are listed in the Schedule. How we calculate variable APRs. Each variable APR is determined by adding the margin to the Index as listed in the Schedule. An increase in the Index will increase a variable APR (and its daily periodic rate). An increase in a variable APR may increase the minimum payment due and interest charged on your account. How we calculate daily periodic rates. To determine the daily periodic rate for an APR, we divide the APR by 365 (366 in leap years). Penalty rates. We will not charge penalty rates or penalty APRs on your account. For example, if you make a late payment, your APR will not increase because you paid late.

  • Pre-financing Pre-financing is intended to provide the beneficiary with a float. Where required by the provisions of Article I.4 on pre-financing, the beneficiary shall furnish a financial guarantee from a bank or an approved financial institution established in one of the Member States of the European Union. The guarantor shall stand as first call guarantor and shall not require the Commission to have recourse against the principal debtor (the beneficiary). The financial guarantee shall remain in force until final payments by the Commission match the proportion of the total grant accounted for by pre-financing. The Commission undertakes to release the guarantee within 30 days following that date.

  • Loan Payments (a) The Loan shall bear interest at a fixed rate per annum equal to the Note Rate. Interest shall be computed based on the daily rate produced assuming a three hundred sixty (360) day year, multiplied by the actual number of days elapsed. Except as otherwise set forth in this Agreement, interest shall be paid in arrears.

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

  • Interim payments Interim payments may be made by Department, at its discretion, if the completion of deliverables to date have first been accepted in writing by Department's Grant Manager.

  • Additional Payments Any sums expended by Agent or any Lender due to any Borrower’s failure to perform or comply with its obligations under this Agreement or any Other Document including any Borrower’s obligations under Sections 4.2, 4.4, 4.12, 4.13, 4.14 and 6.1 hereof, may be charged to Borrowers’ Account as a Revolving Advance and added to the Obligations.

  • Rental Fees The Employer agrees to enter into a tool rental agreement with mechanics wherein the Employer shall pay a fee for the employee’s use of such tools in the service of the Employer. The agreement shall be of legal form and shall contain as minimum provisions the following:

  • Special Payments Any payroll adjustment due an employee in the bargaining unit as a result of working out of class, re-computation of hours, or other reasons other than procedural errors shall be made and a supplemental check issued not later than fifteen (15) working days following notice to the payroll department.

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