Timeline of the various steps. The initial filling of the Contingency Buffer will take place at the receipt of the pre- financing payment for the Relevant Year. The pay-out from the Contingency Buffer to KIC LE and the Nodes for non-eligible Coordination Costs over the Relevant Year will take place once the cost report over the Relevant Year has been accepted by EIT and the final payment is made, since only at that moment the amounts of non-eligible costs of the Relevant Year that have to be paid from the Contingency Buffer are known. Pay-out is subject to approval by the SB. An overview of the non-eligible pay-out will be provided by the SB per KIC added value Coordination Task per Beneficiary. The pay-out will be registered as co-funding by the Beneficiary. The contingency buffer is released with the final balance payment. The replenishment of Contingency Buffer will be done at the same time as the pay-out in accordance with the provisions of the Internal Partner Grant Agreement for the year after the Relevant Year. Beneficiaries that leave EIT Digital during the Relevant Year will receive their Beneficiary share in the Contingency Buffer minus their contribution to the pay-out.
