Common use of Utilization of the Contribution Clause in Contracts

Utilization of the Contribution. 1. The implementation of the responsibilities of UNDP and of the Implementing Partner pursuant to this Agreement and the Project document shall be dependent on receipt by UNDP of the Contribution in accordance with the schedule of payment as set out in Article I, paragraph 1, above. UNDP shall not start the implementation of the activities prior to receiving the Contribution or the first tranche of the Contribution (whichever is applicable). 2. If unforeseen increases in expenditures or commitments are expected or realized (whether owing to inflationary factors, fluctuation in exchange rates or unforeseen contingencies), UNDP shall submit to the Donor on a timely basis a supplementary estimate showing the further financing that will be necessary. The Donor shall use its best endeavours to make available to UNDP the additional funds required. 3. If the payments referred to in Article I, paragraph 1, above are not received in accordance with the payment schedule, or if the additional financing required in accordance with paragraph 2 above is not forthcoming from the Donor or other sources, the assistance to be provided to the Project under this Agreement may be reduced, suspended or terminated by UNDP. 4. Any interest income attributable to the Contribution shall be credited to UNDP Account, retained by UNDP and shall be utilized in accordance with established UNDP procedures.

Appears in 3 contracts

Samples: Financing Agreement, Third Party Cost Sharing Agreement, Cost Sharing Agreement

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Utilization of the Contribution. 1. The implementation of the responsibilities of UNDP and of the each designated Implementing Partner pursuant to this Agreement and the Project document shall be dependent on receipt by UNDP of the corresponding Contribution in accordance with the schedule of payment as set out in Article I, paragraph 1, above. UNDP shall not start the implementation of the relevant activities prior to receiving the Contribution or the first tranche of the Contribution (whichever is applicable). 2. If unforeseen increases in corresponding expenditures or commitments are expected or realized (whether owing to inflationary factors, fluctuation in exchange rates or unforeseen contingencies), UNDP shall submit to the Donor Contributing Partner on a timely basis a supplementary estimate showing the further financing that will be necessarynecessary in each country. The Donor Contributing Partner shall use its best endeavours endeavors to make available to UNDP the additional funds required. 3. If the payments referred to in Article I, paragraph 1, above are not received in accordance with the payment schedule, or if the additional financing required in accordance with paragraph 2 above is not forthcoming from the Donor or Contributing Partner, other sourcessources of funds could be obtained by any of the South-South Partners. Where such funds are nevertheless not received, the assistance to be provided to corresponding activities under the Project under this Agreement may be reduced, suspended or terminated by UNDP. 4. Any interest income revenue attributable to the Contribution shall be credited to UNDP Account, retained by UNDP and shall be utilized in accordance with established UNDP procedures.

Appears in 3 contracts

Samples: Multi Country/South South Cooperation Agreement, Multi Country/South South Cooperation Agreement, Multi Country/South South Cooperation Agreement

Utilization of the Contribution. 1. The implementation of the responsibilities of UNDP and of the Implementing Partner pursuant to this Agreement and the Project document shall be dependent on receipt by UNDP of the Contribution contribution in accordance with the schedule of payment payments as set out in Article I, paragraph 1, above. UNDP shall not start the implementation of the activities prior to receiving the Contribution or the first tranche of the Contribution (whichever is applicable). 2. If unforeseen increases in expenditures or commitments are expected or realized (whether owing to inflationary factors, fluctuation in exchange rates or unforeseen contingencies), UNDP shall submit to the Donor on a timely basis a supplementary estimate showing the further financing that will be necessary. The Donor shall use its best endeavours to make available to UNDP obtain the additional funds required. 3. If the payments referred to in Article I, paragraph 1, above are not received in accordance with the payment schedule, schedule upon completion and acceptance of agreed deliverables or if the additional financing required in accordance with paragraph 2 above is not forthcoming from the Donor or other sources, the assistance to be provided to the Project theProgramme under this Agreement may be reduced, suspended or terminated by UNDP. 4. Any interest income revenue attributable to the Contribution shall be credited to the UNDP Account, retained by UNDP and shall be utilized in accordance with established UNDP proceduresprocedures on the program delivery.

Appears in 2 contracts

Samples: Cost Sharing Agreement, Cost Sharing Agreement

Utilization of the Contribution. 1. The implementation of the responsibilities of UNDP and of the Implementing Partner pursuant to this Agreement and the Project document shall be dependent on receipt by UNDP of the Contribution in accordance with the schedule of payment as set out in Article I, paragraph 1, above. UNDP shall not start the implementation of the activities prior to receiving the Contribution or the first tranche of the Contribution (whichever is applicable). 2. If unforeseen increases in expenditures or commitments are expected or realized (whether owing to inflationary factors, fluctuation in exchange rates or unforeseen contingencies), UNDP shall submit to the Donor on a timely basis a supplementary estimate showing the further financing that will be necessary. The Donor shall use its best endeavours endeavors to make available to UNDP the additional funds required. All losses (including but not limited to losses as result of currency exchange fluctuations) shall be charged to the Project. 3. If the payments referred to in Article I, paragraph 1, above are not received in accordance with the payment schedule, or if the additional financing required in accordance with paragraph 2 above is not forthcoming from the Donor or other sources, the assistance to be provided to the Project under this Agreement may be reduced, suspended or terminated by UNDP. 4. Any interest income attributable to the Contribution shall be credited to UNDP Account, retained by UNDP and shall be utilized in accordance with established UNDP procedures.

Appears in 1 contract

Samples: Financing Agreement

Utilization of the Contribution. 1. The implementation of the responsibilities of UNDP and of the Implementing Partner pursuant to this Agreement and the Project document shall be dependent on receipt by UNDP of the Contribution in accordance with the schedule of payment as set out in Article I, paragraph 1, above. UNDP shall not start the implementation of the activities prior to receiving the Contribution or the first tranche of the Contribution (whichever is applicable). 2. If unforeseen increases in expenditures or commitments are expected or realized (whether owing to inflationary factors, fluctuation in exchange rates or unforeseen contingencies), UNDP shall submit to the Donor on a timely basis a supplementary estimate showing the further financing that will be necessary. The Donor shall use its best endeavours to make available approve to UNDP the additional funds required. 3. If the payments referred to in Article I, paragraph 1, above are not received in accordance with the payment schedule, or if the additional financing required in accordance with paragraph 2 above is not forthcoming from the Donor or other sources, the assistance to be provided to the Project under this Agreement may be be, if necessary, reduced, suspended or terminated by UNDP. 4. Any interest income revenue attributable to the Contribution shall be credited to UNDP Account, retained by UNDP and shall be utilized in accordance with established UNDP procedures.

Appears in 1 contract

Samples: Third Party Cost Sharing Agreement

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Utilization of the Contribution. 1. The implementation of the responsibilities of UNDP and of the Implementing Partner pursuant to this Agreement and the Project document shall be dependent on receipt by UNDP of the Contribution in accordance with the schedule of payment as set out in Article I, paragraph 1, above. UNDP shall not start the implementation of the activities prior to receiving the Contribution or the first tranche of the Contribution (whichever is applicable). 2. If unforeseen increases in expenditures or commitments are expected or realized (whether owing to inflationary factors, fluctuation in exchange rates or unforeseen contingencies), UNDP shall submit to the Donor on a timely basis a supplementary estimate showing the further financing that will be necessary. The Donor shall use its best endeavours endeavors to make available to UNDP the additional funds required. 3. If the payments referred to in Article I, paragraph 1, above are not received in accordance with the payment schedule, or if the additional financing required in accordance with paragraph 2 above is not forthcoming from the Donor or other sources, the assistance to be provided to the Project under this Agreement may be reduced, suspended or terminated by UNDP. 4. Any interest income attributable to the Contribution shall be credited to UNDP Account, retained by UNDP and shall be utilized in accordance with established UNDP procedures.

Appears in 1 contract

Samples: Cost Sharing Agreement

Utilization of the Contribution. 1. The implementation of the responsibilities of UNDP and of the Implementing Partner pursuant to this Agreement and the Project document shall be dependent on upon receipt by UNDP of the Contribution in accordance with the schedule of payment as set out in Article I, paragraph 1, above. UNDP shall not start the implementation of the activities prior to receiving the Contribution contribution or the first tranche of the Contribution (whichever is applicable). 2. If unforeseen increases in expenditures or commitments are expected or realized (whether owing to inflationary factors, fluctuation in exchange rates or unforeseen contingencies), UNDP shall submit to the Donor COMESA on a timely basis a supplementary estimate showing the further financing that will be necessary. The Donor COMESA shall use its best endeavours to make available to UNDP the additional funds required. 3. If the payments referred to in Article I, paragraph 1, above are not received in accordance with the payment schedule, or if the additional financing required in accordance with paragraph 2 above is not forthcoming from the Donor COMESA or other sources, the assistance to be provided to the Project under this Agreement may be reduced, suspended or terminated by UNDP. 4. Any interest income attributable to the Contribution shall be credited to UNDP Account, retained by UNDP and shall be utilized in accordance with established UNDP procedures. 5. The project shall be implemented for a period of 36 months after entry into force.

Appears in 1 contract

Samples: Third Party Cost Sharing Agreement

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