Common use of Termination Report Clause in Contracts

Termination Report. The Recipient must – within 60 days from when termination takes effect – submit a termination report, for the open reporting period under the KAVA(s) until termination, containing an overview of the progress of the work, the financial statement, the explanation on the use of resources, and if applicable, the certificate on the financial statement to the KIC LE. The KIC LE will calculate the amount that might be due to the Recipient on the basis of the report submitted and taking into account the costs incurred and contributions for KAVAs implemented before the end of work date (see Article 7 of this Agreement). Costs relating to contracts due for execution only after the end of work are not eligible. If the KIC LE does not receive the termination report within the deadline, only costs and contributions which are included in an approved [periodic report] will be taken into account (no costs/contributions if no periodic report was ever approved). For the avoidance of doubt, after termination the Recipient shall also be obliged to provide further information, records and supporting documents in the context of checks, reviews, audits or investigations. .

Termination Report. The Recipient must – within 60 days the next cost reporting cycle from when termination takes effect – submit a termination report, for the open reporting period under the KAVA(sProject(s) until termination, containing an overview of the progress of the work, the financial statement, the explanation on the use of resources, and if applicable, the certificate on the financial statement to the KIC LE. The KIC LE will calculate the amount that might be due to the Recipient on the basis of the report submitted and taking into account the costs incurred and contributions for KAVAs implemented before the end of work date (see Article 7 of this Agreement). Costs relating to contracts due for execution only after the end of work are not eligible. If the KIC LE does not receive the termination report within the deadline, only costs and contributions which are included in an approved [periodic report] will be taken into account (no costs/contributions if no periodic report was ever approved). For the avoidance of doubt, after termination the Recipient shall also be obliged to provide further information, records and supporting documents in the context of checks, reviews, audits or investigations. .

Termination Report. The Recipient must – within 60 days from when termination takes effect – submit a termination report, for the open reporting period under the KAVA(sProject(s) until termination, containing an overview of the progress of the work, the financial statement, the explanation on the use of resources, and if applicable, the certificate on the financial statement to the KIC LE. The KIC LE will calculate the amount that might be due to the Recipient on the basis of the report submitted and taking into account the costs incurred and contributions for KAVAs implemented before the end of work date (see Article 7 of this Agreement). Costs relating to contracts due for execution only after the end of work are not eligible. If the KIC LE does not receive the termination report within the deadline, only costs and contributions which are included in an approved [periodic report] will be taken into account (no costs/contributions if no periodic report was ever approved). For the avoidance of doubt, after termination the Recipient shall also be obliged to provide further information, records and supporting documents in the context of checks, reviews, audits or investigations. .