Examples of Consortium Plan in a sentence
The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.
Each party shall individually bear any additional costs not covered by the received funding necessary to perform their tasks in accordance with the Consortium Plan.
Notwithstanding paragraph 7.1.2 below and the Consortium Plan, each Party shall ensure that it has at all times the necessary funds available to fulfil its obligations under the Grant Agreement and this Consortium Agreement.
A Party that spends more than its allocated share of the budget as set out in the Consortium Plan will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share.
The budget set out in the Consortium Plan shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties.