TREATMENT OF RECEIPTS. (1) Receipts for the purposes of IPA include revenue earned by an operation, during the period of its co-financing, from sales, rentals, service enrolment/fees or other equivalent receipts with the exception of:
(a) receipts generated through the economic lifetime of the co-financed investments in the case of investments in firms;
(b) receipts generated within the framework of a financial engineering measure, including venture capital and loan funds, guarantee funds, leasing;
(c) where applicable, contributions from the private sector to the co-financing of operations, which shall be shown alongside public contribution in the financing tables of the programme.
(2) Receipts as defined in paragraph 1 above represent income which shall be deducted from the amount of eligible expenditure for the operation concerned. No later than the closure of the programme, such receipts shall be deducted from the relevant operation's eligibility expenditure in their entirety or pro-rata, depending on whether they were generated entirely or only in part by the co-financed operation.
TREATMENT OF RECEIPTS. 1. In line with the provisions of Article 35 of the IPA Implementing Regulation, revenue earned by an operation during the period of its co-financing shall be deducted from the amount of eligible expenditure under that operation. In this deduction, account shall be taken of the running costs of the operation and the need to ensure its sustainability. Proof of the deduction made shall be kept and declared to the Commission.
2. For the purpose of this article, the period of co-financing shall be counted from the date of the first payment made to the operation concerned, until three years after the final payment of Community funding to that operation, or the closure of the programme, whichever comes earlier.
3. The revenue earned includes sales, rentals, services, enrolment fees, intellectual property or other equivalent receipts.
4. Where applicable, contributions from the private sector to the co-financing of operations, as shown in the financial tables of the programme, or as taken into account for the calculation of the total cost of the operation shall not be considered as revenues earned by the operation and are excluded therefore from the application of this article.
TREATMENT OF RECEIPTS. The Buyer must treat an amount that it receives from a debtor or on account of a debtor of the Business:
(i) as a payment of a specific Receivable, if it is readily identified with that Receivable;
(ii) as a payment of a specific debt to the Buyer, if it is readily identified with that debt;
(iii) if the amount is not readily identified with a Receivable or a debt to the Buyer and is received within 30 days after the Buyer sends an invoice to the debtor and such debtor is not more than 30 days late (60 days after invoice) with its payments, then as payment of the oldest Receivable; or
(iv) if the amount is not readily identified with a Receivable or a debt to the Buyer and such debtor is more than 30 days late (60 days after invoice) in its payments, as payment of both Receivables and debt owing to the Buyer in the proportion determined in accordance with the ratio of the total amount of Receivables outstanding to the total amount of debt owing to the Buyer as at the date that the payment is received.
TREATMENT OF RECEIPTS. 1. In line with the provisions of Article 35 of the IPA Implemen- ting Regulation, revenue earned by an operation during the period
TREATMENT OF RECEIPTS. 1. In line with the provisions of Article 35 of the IPA Implementing Regulation, revenue earned by an operation during the period of its co-financing shall be deducted from the amount of eligible expenditure under that operation. In this deduction, account shall be taken of the running costs of the operation and the need to ensure its sustainability. Proof of the deduction made shall be kept and declared to the Commission.
2. For the purpose of this article, the period of co-financing shall be counted from the date of the first payment made to the operation concerned, until three years after the final payment of Community funding to that operation, or the closure of the programme, whichever comes earlier.
3. The revenue earned includes sales, rentals, services, enrolment fees, intellectual property or other equivalent receipts.
4. The following revenues shall not be considered as revenues earned by the operation and are excluded therefore from the application of this article:
a.) Receipts generated through the economic life of the co-financed investments in the case of investments in firms;
b.) Receipts generated within the framework of a financial engineering operation, including venture capital and loan funds, guarantee funds, leasing;
c.) Where applicable, contributions from the private sector to the co-financing of operations, as shown in the financial tables of the programme, or as taken into account for the calculation of the total cost of the operation.
d.) Revenue generated by infrastructure, which is taken into account in accordance with Article 19 of this Agreement.
TREATMENT OF RECEIPTS. All funds re-
