Examples of Granting Authority in a sentence
If - the Grant Agreement is not signed by the Granting Authority or a Party, or - the Grant Agreement is terminated, or - a Party's participation in the Grant Agreement is terminated, this Consortium Agreement shall automatically terminate in respect of the affected Party/ies, subject to the provisions surviving the expiration or termination under Section 3.3 of this Consortium Agreement.
In accordance with its own usual accounting and management principles and practices, each Party shall be solely responsible for justifying its costs (and those of its Affiliated Entities, if any) with respect to the Project towards the Granting Authority.
Neither the Coordinator nor any of the other Parties shall be in any way liable or responsible for such justification of costs towards the Granting Authority.
Each Party undertakes to promptly notify the Granting Authority and the other Parties, in accordance with the governance structure of the Project, of any significant information, fact, problem or delay likely to affect the Project.
The financial contribution of the Granting Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Granting Authority, and - the provisions of payment in Section 7.2. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.