Common use of Project Financing Clause in Contracts

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 30% of the funding specified in §1 item 1 hereinabove. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 4. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit on its bank account in the subsequent budget year. 5. The subsequent instalment of the advance payment may be paid provided that the Unit has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 6. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the Unit. 7. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the Unit, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 8. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 9. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 10. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 11. The funds for the Project shall be transferred to the interest-bearing account of the Unit, account No.: ………………………….. . 12. The Unit is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 13. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of HOMING/POWROTY Programme on the bank account of the Foundation. 14. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 15. The Project Manager is authorised to dispose of the granted funding. The Unit may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 16. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 17. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 18. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 19. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 30% of the funding specified in §1 item 1 hereinabove. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 4. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit Enterprise on its bank account in the subsequent budget year. 5. The subsequent instalment of the advance payment may be paid provided that the Unit Enterprise has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 6. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise. 7. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit Enterprise is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 8. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 9. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 10. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 11. The funds for the Project shall be transferred to the interest-bearing account of the UnitEnterprise, account No.: ………………………….. . 12. The Unit Enterprise is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit Enterprise by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 13. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of the HOMING/POWROTY Programme on the bank account of the Foundation. 14. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit Enterprise hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 15. The Project Manager is authorised to dispose of the granted funding. The Unit Enterprise may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 16. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 17. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 18. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 19. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 3020% of the funding specified in §1 item 1 hereinabove. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 4. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit Enterprise on its bank account in the subsequent budget year. 5. The subsequent instalment of the advance payment may be paid provided that the Unit Enterprise has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 6. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise. 7. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit Enterprise is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 8. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 9. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 10. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 11. The funds for the Project shall be transferred to the interest-bearing account of the UnitEnterprise, account No.: ………………………….. . 12. The Unit Enterprise is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit Enterprise by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 13. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of HOMING/POWROTY TEAM Programme on the bank account of the Foundation. 14. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit Enterprise hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 15. The Project Manager is authorised to dispose of the granted funding. The Unit Enterprise may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 16. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 17. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 18. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 19. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 3020% of the funding specified in §1 item 1 hereinabove. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 4. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit on its bank account in the subsequent budget year. 5. The subsequent instalment of the advance payment may be paid provided that the Unit has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 6. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the Unit. 7. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the Unit, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 8. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 9. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 10. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 11. The funds for the Project shall be transferred to the interest-bearing account of the Unit, account No.: ………………………….. . 12. The Unit is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 13. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of the HOMING/POWROTY Programme on the bank account of the Foundation. 14. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 15. The Project Manager is authorised to dispose of the granted funding. The Unit may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 16. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 17. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 18. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 19. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 3020% of the funding specified in §1 item 1 hereinabove. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 4. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit Enterprise on its bank account in the subsequent budget year. 5. The subsequent instalment of the advance payment may be paid provided that the Unit Enterprise has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 6. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise. 7. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit Enterprise is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 8. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 9. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 10. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 11. The funds for the Project shall be transferred to the interest-bearing account of the UnitEnterprise, account No.: ………………………….. . 12. The Unit Enterprise is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit Enterprise by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 13. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of the HOMING/POWROTY Programme on the bank account of the Foundation. 14. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit Enterprise hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 15. The Project Manager is authorised to dispose of the granted funding. The Unit Enterprise may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 16. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 17. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 18. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 19. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 3020% of the funding specified in §1 item 1 hereinabove. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 4. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit on its bank account in the subsequent budget year. 5. The subsequent instalment of the advance payment may be paid provided that the Unit has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 6. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the Unit. 7. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the Unit, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 8. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 9. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 10. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 11. The funds for the Project shall be transferred to the interest-bearing account of the Unit, account No.: ………………………….. . 12. The Unit is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 13. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of HOMING/POWROTY TEAM TECH Programme on the bank account of the Foundation. 14. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 15. The Project Manager is authorised to dispose of the granted funding. The Unit may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 16. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 17. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 18. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 19. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 3020% of the funding specified in §1 item 1 hereinabove. 4. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 45. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit on its bank account in the subsequent budget year. 56. The subsequent instalment of the advance payment may be paid provided that the Unit has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 67. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the Unit. 78. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the Unit, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 89. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 910. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 1011. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 1112. The funds for the Project shall be transferred to the interest-bearing account of the Unit, account No.: ………………………….. . 1213. The Unit is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 1314. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of HOMING/POWROTY TEAM Programme on the bank account of the Foundation. 1415. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 1516. The Project Manager is authorised to dispose of the granted funding. The Unit may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 1617. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 1718. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 1819. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 1920. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.

Project Financing. 1. The allocation of funds for Project realisation is specified in the Project Budget, hereinafter referred to as the “Budget”, constituting Appendix No. 1 hereto. 2. Funds for the realisation of the Project (excluding stipends) shall be transferred in form of advance payments pursuant to the instalment payment schedule constituting Appendix No. 3 hereto. The first instalment shall be transferred within 14 days from the date of receipt of correctly filled out and signed Agreement by the Foundation, however , not earlier than on the commencement day of the period specified in §2 item 1. Subsequent instalments shall be transferred immediately upon approval of periodical financial reports by the Foundation. 3. The highest amount of the instalment of advance payment under the Project cannot exceed 3020% of the funding specified in §1 item 1 hereinabove. The advance payment shall be settled by means of listing the eligible expenditures settling the instalment in the financial report or by reimbursing the unused funds from the advance payment. 4. The co-financing amount in form of advance payment from the funds of the European Regional Development Fund that remains unused at the end of the budget year shall remain at the disposal of the Unit Enterprise on its bank account in the subsequent budget year. 5. The subsequent instalment of the advance payment may be paid provided that the Unit Enterprise has settled at least 70% of all advance payments received so far and has demonstrated that the incurred expenditures are eligible for co-financing. 6. The Grantee is obliged to settle the total instalment of the given advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise. 7. If it fails to settle the instalment of advance payment within 365 days from the date of transfer to the bank account of the UnitEnterprise, interest shall be charged on the outstanding funds transferred within the said advance payment, at the rates applied to tax arrears, starting from the date of transfer of funds to the date of reimbursement of the unsettled instalment or to the date of submitting the financial report settling the given instalment. The unit Enterprise is obliged to return the unsettled part of the advance payment together with accrued interest on funding in form of advance payment transferred to the bank account without being summoned. 8. The co-financing amount specified in §1 item 1 shall be deducted by the amount subject to reimbursement due to deficiencies. 9. Expenditures exceeding the total amount of eligible costs specified in §1 item 1, including expenditures resulting from the increase in the total cost of Project realisation, shall be borne by the Grantee and deemed as ineligible costs. 10. The Grantee is obliged to ensure the financing of ineligible costs necessary for the realisation of the Project on its own. 11. The funds for the Project shall be transferred to the interest-bearing account of the UnitEnterprise, account No.: ………………………….. . 12. The Unit Enterprise is obliged to reimburse the bank interest accrued on funding transferred in form of advance payment to the bank account of the Unit Enterprise by the 31st of January of the subsequent year, after the advance payment has been made, by a separate bank transfer to the bank account specified by the Foundation. 13. Funds for the realisation of the Project shall be paid by the Foundation subject to the availability of funds transferred by the Intermediary Authority for the realisation of HOMING/POWROTY TEAM TECH Programme on the bank account of the Foundation. 14. The principles of receiving and payment of registered stipends for students and doctoral students shall be governed by separate agreements concluded on request of the Project Manager between the Foundation, the Project Manager and the student or doctoral student in question. The Unit Enterprise hereby declares that the fact that students listed in the Project Budget receive registered research stipends shall not affect their previously acquired rights to stipends and shall not result in decreasing their remunerations. The Grantee hereby declares that stipend beneficiaries shall not receive remuneration from the Project funds during the period of the stipend. 15. The Project Manager is authorised to dispose of the granted funding. The Unit Enterprise may spend the funds transferred by the Foundation for the Project part only upon approval of the Project Manager. 16. Employees of the competent finance department of the Unit may refuse to approve the decision of the Project Manager concerning the expenditure of funds under the Project part if such decision is non-compliant with the law or with the provisions of this Agreement. 17. The Unit is obliged to maintain separate accounting records pertaining to the realisation of the Project, pursuant to the transparency principle stipulated in the Act of September 29, 1994 on Accountancy (consolidated text: Journal of Laws 2013.330 of March 11, 2013, with further amendments), in a manner enabling identification of specific accounting operations connected with the Project. However, the above rule shall not apply to indirect costs settled on a lump sum basis. 18. If the Project Manager or the Unit incurs eligible costs in the amount exceeding that specified in §1 item 1 this shall not constitute a basis for increasing the granted amount of funding. 19. The Foundation may withhold the payment of an instalment in order to clarify any doubts and obtain information in the event if justified suspicions occur that the realisation of the Project is not compliant with the Agreement, in particular in the following events: a. if discrepancies are found between the realisation of the Project and the Project description contained in the Application, b. if the Unit and Project Manager fail to provide the information and clarification specified in §7 item 13, c. if there is no progress in the Project realisation in relation to the dates specified in the Application.