PROJECT GRANT. 3.1 In consideration of USM performing the Project and all the obligations contained herein, AAA shall finance the Project in the total sum of Ringgit Malaysia *** (RM***) only (hereinafter referred to as “the Grant”) for all the works under the scope of the Project as stipulated in Article 1.2 above. 3.2 The Grant shall be disbursed to USM in the following manner: 10% to be paid upon the signing of this Agreement; ***% to be paid within ***; ***% to be paid within ***. 3.3 The Grant shall only be used by USM for the purpose of the Project. 3.4 The Grant shall not be used for any other purposes without AAA’s prior written consent and if the Project is finally due and/or discontinued for any reason whatsoever, the balance of the Grant, if any, shall be transferred to USM’s Endowment Fund.
Appears in 4 contracts
Samples: Research Grant Agreement, Research Grant Agreement, Research Grant Agreement
