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Common use of REVENUE Clause in Contracts

REVENUE. In case a Party earns any revenue that is deductible from the total funding as set out in the Consortium Plan, the deduction is only directed toward the Party earning such revenue. The other Parties’ financial share of the budget shall not be affected by one Party’s revenue. In case the relevant revenue is more than the allocated share of the Party as set out in the Consortium Plan, the Party shall reimburse the funding reduction suffered by other Parties.

Appears in 16 contracts

Samples: Consortium Agreement, Consortium Agreement, Consortium Agreement

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REVENUE. In case a Party earns any revenue that is deductible from the total funding as set out in the Consortium Plan, the deduction is only directed toward the Party earning such revenue. The other Parties’ financial share of the budget shall not be affected by one Party’s revenue. In case the relevant revenue is more than the allocated share of the Party as set out in the Consortium Plan, the Party shall reimburse the funding reduction suffered by other Parties. Only for-profit legal entities can generate revenues according to Article 22.3.4 MGA.

Appears in 3 contracts

Samples: Consortium Agreement, Consortium Agreement, Consortium Agreement

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REVENUE. In case a Party earns any revenue that is deductible from the total funding Funding as set out in the Consortium Project Plan, the deduction is only directed toward the Party earning such revenue. The other Parties’ financial share of the budget shall not be affected by one Party’s revenue. In case the relevant revenue is more than the allocated share of the Party as set out in the Consortium Project Plan, the Party shall reimburse the funding reduction suffered by other Parties.

Appears in 1 contract

Samples: Consortium Agreement

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