Common use of Reimbursement of Funding Clause in Contracts

Reimbursement of Funding. 1. If the Agreement is terminated in the manners specified in § 11 item 3, the Unit, on request of the Foundation, shall reimburse the total amount of funding received pursuant to the Agreement, within 14 days from the receipt of notification, together with interest at the rate applied to tax arrears, charged for the period from the date of transferring the funds to the Unit to the date of reimbursement to the bank account specified by the Foundation. The equivalent of the funding transferred pursuant to agreements specified in §3 item 14 shall be transferred by the Unit to the Foundation on the conditions specified in the previous sentence, provided that interest shall be charged from the date of payment of the stipend to individual young scientists.

Reimbursement of Funding. 1. If the Agreement is terminated in the manners specified in § 11 item 3, the UnitEnterprise, on request of the Foundation, shall reimburse the total amount of funding received pursuant to the Agreement, within 14 days from the receipt of notification, together with interest at the rate applied to tax arrears, charged for the period from the date of transferring the funds to the Unit Enterprise to the date of reimbursement to the bank account specified by the Foundation. The equivalent of the funding transferred pursuant to agreements specified in §3 item 14 shall be transferred by the Unit Enterprise to the Foundation on the conditions specified in the previous sentence, provided that interest shall be charged from the date of payment of the stipend to individual young scientists.