THE EXPENDITURE PROFILE. 6.1 If in any Financial Year (the “relevant year”) there is a shortfall in the amount of Eligible Expenditure by reference to the amount planned in the Expenditure Profile, the Secretary of State will be under no obligation to pay Grant for any additional Eligible Expenditure in the following year or any later Financial Year. 6.2 If in any Financial Year (the "relevant year") there is an overspend in the amount of Eligible Expenditure by reference to the amount planned in the Expenditure Profile, the Secretary of State will be under no obligation to pay Grant in the following year or any later Financial Year which was overspent in any relevant year.
Appears in 5 contracts
Samples: European Regional Development Fund Revenue Funding Agreement, European Regional Development Fund Revenue Funding Agreement, Funding Agreement
THE EXPENDITURE PROFILE. 6.1 If in any Financial Year (“the “relevant year”) there is a shortfall in the amount of Eligible Expenditure by reference to the amount planned in the Expenditure Profile, the Secretary of State will be under no obligation to pay Grant for any additional Eligible Expenditure in the following year or any later Financial Year.
6.2 If in any Financial Year (the "relevant year") there is an overspend in the amount of Eligible Expenditure by reference to the amount planned in the Expenditure Profile, the Secretary of State will be under no obligation to pay Grant in the following year or any later Financial Year which was overspent in any relevant year.
Appears in 4 contracts
Samples: European Regional Development Fund Capital Funding Agreement, European Regional Development Fund Capital Funding Agreement, Capital Funding Agreement
