Expenditure Profile definition

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Expenditure Profile means the information provided by the Borrower detailing the spend forecast for the carrying out of the Project Activities and defrayal of expenditure and which is provided at Schedule 2 (Project Eligible Expenditure and Expenditure Profile); “FOIA” means the Freedom of Information Act 2000; “ GDPR” means the General Data Protection Regulation ( Regulation ( EU) 2016 /679)

Expenditure Profile means the information to be provided by the Grant Recipient to the GMCA detailing the spend forecast for carrying out the Project Activities and defrayal of expenditure;

Examples of Expenditure Profile in a sentence

This Contract is subject to the Expenditure Profile incorporated in Clause F219.
The Applicant shall apply the Grant to the Project in accordance with the agreed Budgeted Expenditure Profile in order to complete the Project by the Scheduled Project Completion Date.
Where the Applicant has sourced funding from a third party, comprising the Applicant’s share of the Project funding, as identified in Schedule 1 Part 2 Table 1 (including without limitation funding for associated administration and staffing costs), the amount of such funding shall be included in the Budgeted Expenditure Profile, including a clear description of the sources and intended application of that funding.
No Grant shall be paid unless and until the Funder is satisfied that such payment will be applied to proper expenditure in the delivery of the Project in accordance with the Budgeted Expenditure Profile.
The Grant Recipient acknowledges that the financial consequences that flow from a departure from the Expenditure Profile in any financial year could include the loss of ERDF resources allocated for the Operational Programme (if in that year there is under-spending for the Operational Programme as a whole).
The retention will be released when DCLG pays the final Grant Claim, pursuant to clause 15.3. If in any financial year (“the relevant year”) there is a shortfall in the amount of Eligible Expenditure by reference to the amount planned in the Expenditure Profile, DCLG will be under no obligation to pay Grant for any additional Eligible Expenditure in the following year or any later financial year.
If in any financial year (the "relevant year") there is an overspend in the amount of Eligible Expenditure by reference to the amount planned in the Expenditure Profile, DCLG will be under no obligation to pay Grant in the following year or any later financial year which was overspent in any relevant year.
The Grant Recipient must notify DCLG promptly if at any time it becomes aware that it is unable to make a Grant Claim in accordance with the Expenditure Profile.
DCLG may in its absolute discretion vary the Expenditure Profile.
Forecast Expenditure Profile With effect from 2018/19 there is a [national] requirement to provide a monthly profile for the Forecast Outturn Expenditure.

More Definitions of Expenditure Profile

Expenditure Profile means the Expenditure Profile of the Project showing the programme of works to be carried out on a quarterly basis contained in Schedule Part 3 as updated from time to time by such re-forecast submitted as part of any Claim Documentation and approved by SNH;

Expenditure Profile means the programme for the carrying out of Project Activities and defrayal of Eligible Expenditure including the Start Date, the Project Activities Completion Date and the Financial Completion Date, and which in respect of ERDF is contained in Schedule 4 in respect of the Offer Letter.

Expenditure Profile means the financial projections relating to Project expenditure between the Funding Period Commencement Date and the Funding Period Expiry Date. This Expenditure Profile forms part of the Targets of the Project.

Expenditure Profile means the information provided by the Grant Recipient detailing the spend forecast for the carrying out of the Project Activities and defrayal of expenditure and which is provided at Schedule 2 (Project Eligible Expenditure and Expenditure Profile); “FOIA” means the Freedom of Information Act 2000; “Grant” means the grant payable in relation to the Project pursuant to this Agreement and as set out in Clause 3.5 (Amount of Grant payable) and the Project Specific Conditions; "Grant Claim" means a claim for the Grant (in part or in full) under the terms of this Agreement; “Grant Recipient Personnel” means all directors, officers, employees, agents, consultants and contractors of the Grant Recipient and/or of any Sub-processor engaged in the performance of its obligations under this Agreement;; “ GDPR” means the General Data Protection Regulation ( Regulation ( EU) 2016 /679) “Grant Recipient's Representative” means the representative appointed by the Grant Recipient for the purposes of this Agreement and whose details are provided at paragraph 2 of the Project Specific Conditions; “Information” has the meaning given in the FOIA; “Information Commissioner” has the meaning given in the FOIA; “Instalment Period” has the meaning given in the Project Specific Conditions; “Key Milestone Dates” means the dates for the Milestones to achieve the Project which are contained in the Project Specific Conditions; “Law” means all directors, officers, employees, agents, consultants and contractors of the Grant Recipient and/or of any Sub-processor engaged in the performance of its obligations under this Agreement;; “ LED” means the Law Enforcement Directive ( Directive ( EU) 2016/680 "LEP" means the York, North Yorkshire and East Riding Local Enterprise Partnership; "Local Growth Fund" has the meaning given to it in recital B of this Agreement; “Losses” means all damages, losses, liabilities, costs, expenses (including legal and other professional charges and expenses which have been incurred) and charges whether arising under statute, contract or at common law, or in connection with judgments, proceedings , internal costs or demands;