Eligible Supported Costs definition
Eligible Supported Costs means any Eligible Costs, excluding Eligible Not-Supported Costs.
Eligible Supported Costs means the costs associated with work performed in Canada, or outside of Canada to the extent explicitly permitted in this Agreement that are incurred and paid by the Recipient in respect of the Project, excluding any costs prohibited or deemed ineligible elsewhere in this Agreement. “Event of Default” means the events of default listed in Subsection 13.1. “Execution Date” means the date of the last signature to this Agreement such that the Agreement is signed and dated by all Parties. “Fair Market Value” means the price that would be agreed to in an open and unrestricted market between knowledgeable and willing parties dealing at arm’s length, who are fully informed and not under any compulsion to transact. “Force Majeure” means event or effect that cannot be reasonably anticipated or controlled and is not due to the negligence or willful misconduct of the affected Party. Force Majeure includes, but is not limited to, acts of God, acts of war, acts of public enemies, terrorism, strikes, fires, explosions, pandemic, actions of the elements, floods, or other similar causes beyond the control of the Parties in the performance of the Agreement where non-performance, by exercise of reasonable diligence, cannot be prevented. “FTE” or “Full Time Equivalent” means the equivalent to a full-time employee who would be responsible to work at least 2,000 hours for the Recipient when calculated on an annual basis. Each equivalent to a full-time employee is calculated by dividing (a) by (b) where (a) = the aggregate of all hours worked by each employee who works for the Recipient including hours taken by them as paid vacation, sick leave, and for other similar reasons, calculated on an annual basis, and (b) = 2,000 hours. “FTE Rate” means the average salary per hour for an employee in BC for the calendar year 2032. “Government Fiscal Year” means the period from April 1 of one year to March 31 of the following year. “Gross Business Revenues” or “GBR” means revenue in the currency reported in the audited consolidated financial statements of the Recipient, as determined in accordance with generally accepted accounting principles as applied by the Recipient on a consistent basis.
Eligible Supported Costs means any Eligible Costs, excluding Eligible Not-Supported Costs. "Event of Default" means the events of default listed in Subsection 14.1 of this Agreement. "Execution Date" means the date of the last signature to this Agreement such that the Agreement is signed and dated by all Parties. "Fair Market Value" means the price that would be agreed to in an open and unrestricted market between knowledgeable and willing parties dealing at arm's length, who are fully informed and not under any compulsion to transact. "Force Majeure" means any cause which is unavoidable or beyond the reasonable control of the Recipient, including war, riot, insurrection, strikes, or any act of God or other similar circumstance and which could not have been reasonably circumvented by the Recipient without incurring unreasonable cost. "FTE" or "Full Time Equivalent" means the equivalent to a full-time employee who would be responsible to work at least 2,000 hours for the Recipient when calculated on an annual basis. Each equivalent to a full-time employee is calculated by dividing (a) by (b) where (a)= the aggregate of all hours worked by each employee who works for the Recipient including hours taken by them as paid vacation, sick leave, and for other similar reasons, calculated on an annual basis, and (b) = 2,000 hours. "Government Fiscal Year" means the period from April 1 of one year to March 31 of the following year. "Highly Skilled" means an employee that requires specialized training in order to operate, manage or participate in the Project. This may include scientists, engineers, managers and specialized trades. "Intellectual Property" means all inventions, whether or not patented or patentable, all commercial and technical information, whether or not constituting trade secrets, and all 5 Certain information in this document has been omitted from this exhibit because it is (i) not material (ii) would be competitively harmful if publicly disclosed and (iii) private or confidential.
Examples of Eligible Supported Costs in a sentence
The Minister will not contribute to any Eligible Supported Costs incurred by the Recipient prior to the Eligibility Date or after the Project Completion Date.
Subject to the maximum Contribution amounts set forth in Subsection 4.1 and all other conditions contained in this Agreement, the Minister shall pay to the Recipient a percentage of the Eligible Supported Costs set forth in the Recipient’s claim based on the sharing ratio identified in paragraph 4.1 (a), in accordance with the Minister’s customary practices.
In no event will Eligible Supported Costs incurred prior to the Execution Date exceed twenty percent (20%) of the “Total Estimated Eligible Supported Costs” set out in Form C2 - ESTIMATED COST BREAKDOWN BY FISCAL YEAR of Schedule 1 - Statement of Work.
More Definitions of Eligible Supported Costs
Eligible Supported Costs means any Eligible Costs, excluding Eligible Not-Supported Costs. “Event of Default” means the events of default listed in Subsection 14.1 of this Agreement.