Step 3 — Reduction due to the. no-profit rule (a) income generated by the action; if the income is generated from selling equipment or other assets purchased under the Agreement, the receipt is up to the amount declared as eligible under the Agreement; (b) financial contributions given by third parties to the beneficiary [or to a linked third party] specifically to be used for the action, and (c) in-kind contributions provided by third parties free of charge and specifically to be used for the action, if they have been declared as eligible costs. The following are however not considered receipts: (a) income generated by exploiting the action’s results (see Article 28); (b) financial contributions by third parties, if they may be used to cover costs other than the eligible costs (see Article 6); (c) financial contributions by third parties with no obligation to repay any amount unused at the end of the period set out in Article 3. If there is a profit, it will be deducted from the amount obtained following Steps 1 and 2.
Appears in 9 contracts
Samples: Grant Agreement, Grant Agreement, Model Grant Agreement
