Partnership Budget definition
Examples of Partnership Budget in a sentence
The financial contribution of the Programme Operator to the Project shall be distributed by the Project Promoter according to: - the Partnership Budget as included in the Partnership Plan - the approval of reports by the Programme Operator, and - the provisions of payment in Article 9.3. A Party shall be funded only for its tasks carried out in accordance with the Partnership Plan.
A Party that spends more than its allocated share of the Partnership Budget will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share.
A Party which spends less than its allocated share of the Partnership Budget will be funded in accordance with its actual duly justified eligible costs only.
The Partnership Budget shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties.