Common use of Transfer of contributions Clause in Contracts

Transfer of contributions. 1. The Contracting Parties jointly commit to irrevocably transfer to the Fund the contributions that they raise from the institutions authorised in each of their territories by virtue of Articles 70 and 71 of the SRM Regulation, and in accordance with the criteria laid down therein and in the delegated and implementing acts to which they refer. The transfer of contributions shall take place in accordance with the conditions laid down under Articles 4 to 10 of this Agreement. 2. The Contracting Parties shall transfer the ex ante contributions corresponding to every year by 30 June of that year at the latest. The initial transfer of ex ante contributions to the Fund will take place by 30 June 2016 at the latest or, if the Agreement has not entered into force by that date, six months after its date of entry into force at the latest. 3. Contributions raised by the Contracting Parties in accordance with Articles 103 and 104 of the BRR Directive before the date of application of this Agreement shall be transferred to the Fund by 31 January 2016 at the latest or, if the Agreement has not entered into force by that date, one month after its date of entry into force at the latest. 4. Any amount disbursed by the resolution financing arrangement of a Contracting Party before the date of application of this Agreement in respect of resolution actions within its territory shall be deducted from those contributions to be transferred by that Contracting Party towards the Fund referred to in paragraph 3. In such a case, the Contracting Party in question shall remain bound to transfer towards the Fund an amount equivalent to that which would have been necessary to achieve the target level of its resolution financing arrangement, in accordance with Article 102 of the BRR Directive and within the deadlines therein provided. 5. The Contracting Parties shall transfer ex post contributions immediately after their collection.

Transfer of contributions. 1. The Contracting Parties jointly commit to irrevocably transfer to the Fund the contributions that they raise from the institutions authorised in each of their territories by virtue of Articles 69 and 70 and 71 of the SRM Regulation, and in accordance with the criteria laid down therein and in the delegated and implementing acts to which they refer. The transfer of contributions shall take place in accordance with the conditions laid down under Articles 4 to 10 of this Agreement. 2. The Contracting Parties shall transfer the ex ante contributions corresponding to every year by 30 June of that year at the latest. The initial transfer of ex ante contributions to the Fund will take place by 30 June 2016 at the latest or, if the Agreement has not entered into force by that date, six months after its date of entry into force at the latest. 3. Contributions raised by the Contracting Parties in accordance with Articles 103 and 104 of the BRR Directive before the date of application of this Agreement shall be transferred to the Fund by 31 January 2016 at the latest or, if the Agreement has not entered into force by that date, one month after its date of entry into force at the latest. 4. Any amount disbursed by the resolution financing arrangement of a Contracting Party before the date of application of this Agreement in respect of resolution actions within its territory shall be deducted from those contributions to be transferred by that Contracting Party towards the Fund referred to in paragraph 3. In such a case, the Contracting Party in question shall remain bound to transfer towards the Fund an amount equivalent to that which would have been necessary to achieve the target level of its resolution financing arrangement, in accordance with Article 102 of the BRR Directive and within the deadlines therein provided. 5. The Contracting Parties shall transfer ex post contributions immediately after their collection.

Transfer of contributions. 1. The Contracting Parties jointly commit to irrevocably transfer to the Fund the contributions that they raise from the institutions authorised in each of their territories by virtue of Articles 70 66 and 71 67 of the SRM Regulation, and in accordance with the criteria laid down therein and in the delegated and implementing acts to which they refer. The transfer of contributions shall take place in accordance with the conditions laid down under Articles 4 to 10 of this Agreement. 2. The Contracting Parties shall transfer the ex ante contributions corresponding to every year by 30 June of that year at the latest. The initial transfer of ex ante contributions to the Fund will take place by 30 June 2016 at the latest or, if the Agreement has not entered into force by that date, six months after its date of entry into force at the latest. 3. Contributions raised by the Contracting Parties in accordance with Articles Article 103 and 104 of the BRR Directive before the date of application of this Agreement shall be transferred to the Fund by 31 January 2016 at the latest or, if the Agreement has not entered into force by that date, one month after its date of entry into force at the latest. 4. Any amount disbursed by the resolution financing arrangement of a Contracting Party before the date of application of this Agreement in respect of resolution actions within its territory shall be deducted from those contributions to be transferred by that Contracting Party towards the Fund referred to in paragraph 3. In such a case, the Contracting Party in question shall remain bound to transfer towards the Fund an amount equivalent to that which would have been necessary to achieve the target level of its resolution financing arrangement, in accordance with Article 102 of the BRR Directive and within the deadlines therein provided. 5. The Contracting Parties shall transfer ex post contributions raised in accordance with the criteria laid down in Article 67 of the SRM Regulation immediately after their collection.