Common use of Approval of Actions Clause in Contracts

Approval of Actions. 6.6.1 Actions to be financed by the Trust Fund must receive the prior approval of the Operational Committee. However, actions below EUR 10 million may be approved by the Manager alone, within the limits of the uncommitted resources available to the Trust Fund. The Manager must inform the Operational Committee immediately of any decision made under this delegated authority.

Approval of Actions. 6.6.1 6.5.1 Actions to be financed by the Trust Fund must receive the prior approval of the Operational Committee. However, the Operational Committee may set an amount below which actions below EUR 10 million may be approved by that fulfil the Manager aloneobjectives of the Trust Fund as set out in Article 2 and the eligibility criteria in Article 9.1 may, within the limits of the uncommitted resources available to the Trust Fund, be approved by the Manager alone. The Manager must inform the Operational Committee immediately of any decision made under this delegated authorityimmediately.