The Grant payment Clause Samples
The Grant payment clause defines the terms under which a grantor provides funds to a grantee, specifying the amount, timing, and conditions for payment. Typically, this clause outlines when payments will be made—such as upon reaching certain milestones or submitting required documentation—and may detail acceptable methods of payment or reporting requirements. Its core practical function is to ensure both parties have a clear understanding of the financial arrangements, reducing the risk of disputes over payment timing or obligations.
The Grant payment. 4.1 Prior to receiving any payment of the Grant, the Recipient must meet the Conditions as listed in Schedule 3 of this Agreement.
4.2 The Grant shall be paid by the Funder to the Recipient in instalments in accordance with the Project Plan at Schedule 2 of this Agreement. The Recipient must submit a Claim in the format prescribed by the Funder in order to receive payment of an instalment. Payment of the Grant can be claimed in a maximum of three instalments and no instalment can exceed £35,000, unless otherwise agreed by the Funder. No more than one instalment can be claimed in any calendar month.
4.3 Payment of the Grant instalments shall be made within 21 calendar days of receipt by the Funder from the Recipient of a Claim confirming that the Eligible Costs relating to item(s) in the Project Plan have been accrued by the Recipient, and that all Eligible Costs funded by previous Grant instalments have been defrayed.
The Grant payment. 3.1 The Grant shall be paid by the Funder to the Recipient in one single instalment which can be claimed by the Recipient on signature of this Agreement. The Recipient must submit a claim in the format prescribed by the Funder in order to receive payment of the Grant.
3.2 Payment of the Grant shall be made within 21 calendar days of receipt by the Funder from the Recipient of a validly submitted claim.
The Grant payment. 4.1 Prior to receiving any payment of the Grant, the Recipient must meet the Conditions as listed in Schedule 3 of this Agreement.
4.2 The Grant shall be paid by the Funder to the Recipient in two equal instalments. The first instalment can be claimed by the Recipient on signature of this Agreement and satisfaction of the conditions listed in Schedule 3 of this Agreement. The second instalment can be claimed on completion of the Project and subject to the submission by the Recipient to the Funder of a satisfactory closure report. The Recipient must submit a Claim in the format prescribed by the Funder in order to receive payment of an instalment.
4.3 Payment of the Grant instalments shall be made within 21 calendar days of receipt by the Funder from the Recipient of a validly submitted Claim. In relation to the second instalment, this must include evidence that all Eligible Costs that are being funded by the Grant have been defrayed.
The Grant payment. 4.1 Prior to receiving any payment of the Grant, the Recipient must meet the Conditions as listed in Schedule 1 of this Agreement.
4.2 The Grant shall be paid by the Funder to the Recipient in two instalments. The first instalment comprising of 50% of the Grant can be claimed by the Recipient on signature of this Agreement and satisfaction of the conditions listed in Schedule 1 of this Agreement. The second instalment comprising of the remaining balance of the Grant (or if lower the balance of the Eligible Costs not covered by the first instalment) can be claimed on completion of the Project and subject to the submission by the Recipient to the Funder of a satisfactory closure report. The Recipient must submit a Claim in the format prescribed by the Funder in order to receive payment of an instalment.
4.3 Payment of the Grant instalments shall be made within 21 calendar days of receipt by the Funder from the Recipient of a validly submitted Claim. In relation to the second instalment, this must include evidence that all Eligible Costs that are being funded by the Grant have been defrayed.