Public Subsidies Sample Clauses
The Public Subsidies clause defines how any government grants, financial aid, or public funding received in connection with the contract are to be handled by the parties. Typically, this clause outlines the obligations to disclose the receipt of such subsidies, the allocation or use of the funds, and any reporting or compliance requirements imposed by the relevant authorities. For example, it may require a party to notify the other if a subsidy is awarded or to ensure that the funds are used solely for the intended project. The core function of this clause is to ensure transparency and compliance with legal requirements regarding public funding, thereby reducing the risk of misuse or regulatory breaches.
Public Subsidies. No EMP Group Company has at any time since 1 January 2016 received or applied for any subsidies and comparable public grants under which such EMP Group Company is subject to ongoing obligations or which may become repayable in the future (collectively, the “Public Subsidies”).
Public Subsidies. To the extent that the Company received public subsidies in the past, these subsidies were granted on the basis of accurate and correct information by the Company, and they were used in accordance with the determinations, conditions and terms in the orders granting subsidies or the agreements on subsidies. Corresponding subsidies have not been granted in violation of the substantive and formal provisions under Art. 87 and 88 EU Treaty. The corresponding orders granting subsidies are, to the knowledge of the Sellers, legally valid, have not been challenged, and there are no indications that the Company is or could be required to repay subsidies which have been approved or granted for periods prior to the Closing Date for any reason (including the change of shareholders effected by this Agreement).
Public Subsidies. To Sellers’ Best Knowledge, and apart from support or funding in connection with the COVID-19 pandemic, the members of the Target Group have not received any public subsidies, in particular any state aid within the meaning of Article 87 of the EC Treaty, since its respective date of incorporation.
Public Subsidies. 20.1 No Group Company has received any public subsidies, grants or allowances that are subject to (conditional or unconditional) repayment obligations.
Public Subsidies. Schedule 8.1.16 contains a list of the public grants (Zuschüsse), allowances (Zulagen), subsidies (Subventionen) or other aids within the meaning of Article 107 of the Treaty on the Functioning of the European Union granted to any of the Group Companies by public authorities during the five (5) years preceding the Signing Date. To the Sellers` Knowledge no circumstances exist that would justify a revocation (Widerruf), reduction (Reduzierung) or withdrawal (Rücknahme) of a subsidy and no subsidy can be revoked or withdrawn as a consequence of the transactions contemplated herein. In case subsidies above EUR 100,000 (in words: one hundred thousand euros) already paid-out to the any of the Group Companies will be reclaimed by the respective authorities within twenty-one (21) months from the Closing Date, the Sellers will reimburse the respective Group Company for such amount exceeding EUR 100,000 (in words: one hundred thousand euros). For the avoidance of doubt, the preceding sentence does not constitute a Sellers Guarantee and any limitation explicitly applicable to breaches of Sellers Guarantee shall not apply, except for Clause 9.6, which shall apply mutatis mutandis.
Public Subsidies. The Group Companies are in material compliance with any public grants (Zuschüsse), allowances, aids (Beihilfen), other subsidies (Subventionen) or reliefs from charges (Befreiungsbescheide) granted by any domestic or foreign Governmental Authority (collectively, “Subsidies”) exceeding EUR 250,000 in the individual case granted to them and the relevant authorities have not terminated, revoked, withdrawn or otherwise cancelled in writing any of such Subsidies.