Common use of Return of Funding Clause in Contracts

Return of Funding. 1. In the event of dissolution of the Agreement for the reasons specified in Article 12.1 or 12.3, the Enterprise shall return, at the Foundation’s request, in full the financing provided under the Agreement within 14 days of the date of the call plus the interest in the amount specified as for overdue tax liabilities, to be computed from the day the funding is provided to the4 Enterprise until the day of its return5 to the bank account designated by the Foundation plus the interest accrued in the Enterprise’s bank account on the funding provided by the Foundation in the form of an advance payment. The Enterprise shall transfer the equivalent of the financing provided under the agreements referred to in Article 6.5 to the Foundation on the principles mentioned in the preceding sentence, with the interest accrued from the date of payment of the stipends to the individual young scientists. In the especially justified cases, at the Grantee’s written request, the Foundation may refrain from demanding return of the settled financing or/and payment of the interest in the amount specified as for overdue tax liabilities while taking into consideration, in particular, the manner of performance of the Agreement by the Grantee.

Return of Funding. 1. In the event of dissolution of the Agreement for the reasons specified in Article 12.1 or 12.3, the Enterprise Unit shall return, at the Foundation’s request, in full the financing provided under the Agreement within 14 days of the date of the call plus the interest in the amount specified as for overdue tax liabilities, to be computed from the day the funding is provided to the4 Enterprise Unit until the day of its return5 to the bank account designated by the Foundation plus the interest accrued in the EnterpriseUnit’s bank account on the funding provided by the Foundation in the form of an advance payment. The Enterprise Unit shall transfer the equivalent of the financing provided under the agreements referred to in Article 6.5 to the Foundation on the principles mentioned in the preceding sentence, with the interest accrued from the date of payment of the stipends to the individual young scientists. In the especially justified cases, at the Grantee’s written request, the Foundation may refrain from demanding return of the settled financing or/and payment of the interest in the amount specified as for overdue tax liabilities while taking into consideration, in particular, the manner of performance of the Agreement by the Grantee.