Approved Grant Clause Samples
The 'Approved Grant' clause defines the specific grant or award that has been formally authorized by the relevant authority or organization. This clause typically outlines the terms under which the grant is provided, such as the amount, purpose, and any conditions or restrictions attached to its use. For example, it may specify that funds are to be used solely for a designated project or within a certain timeframe. Its core practical function is to ensure clarity and mutual understanding regarding the scope and limitations of the grant, thereby preventing disputes over its use or interpretation.
Approved Grant. Grant funds are provided subject at all times to all provisions of the Entrepreneurship and Innovation Grant Program Guidelines (“Guidelines”), attached as Exhibit
▇. ▇▇▇▇▇ funds are provided for the project (“Project”) described in Grant Recipient’s Grant Application (“Application”), attached as Exhibit B, and incorporated herein by reference, and additional terms, if any, imposed on Grant Recipient (“Additional Terms”), attached as Exhibit C.
Approved Grant. 3.1. The Malta Film Commission will grant an amount of € (the Approved Grant) to the Beneficiary, solely as production support for the Project, in accordance with the following, which shall be deemed to form and construed as an integral part of this Agreement:
(i) The terms and condition of this Agreement;
(ii) The provisions of the Guidelines; and
(iii) The Beneficiary’s proposal attached hereto as Document ‘B’ (the Proposal);
(iv) All other documentation as requested by Malta Film Commission. In case of any contradiction or discrepancy between any of the above documents, their provisions shall be applied according to the above order of precedence.
3.2. The beneficiary warrants that he has obtained the remaining % of the finances necessary in terms of the requisites set forth in the Guidelines.
3.3. The amount of the Approved Grant shall be determined by the Malta Film Commission at its own discretion, which decision is taken after the Malta Film Commission has verified the veracity of all documents as submitted by the Beneficiary.
3.4. Notwithstanding the Beneficiary’s eligibility to the entitlement of the grant, the beneficiary may nonetheless not be entitled to the Approved Grant if the beneficiary, as a result of non-disclosure, fails to satify the eligibility and award criteria enshrined in the Guidelines.
3.5. Should the eligible costs actually incurred by the Beneficiary during the Project be lower than anticipated in the provisional budget, the approved grant shall reflect this decrease and final payment will be re-calculated to reflect this decrease on a pro rata basis.
3.6. Should the budget presented at application stage and on which the grant was awarded for the project be reduced, the Malta Film Commission shall reduce the grant awarded on a pro rata basis.