Common use of Final grant amount Clause in Contracts

Final grant amount. The final grant amount will be calculated by the Commission/Agency — at the end of the action (or in case of termination of the GA) —, in order to determine the balance to be paid. The final grant amount will depend on two types of criteria: − work implementation criteria, i.e. was the work carried out as described in Annex I? This is a technical analysis by the Commission/Agency of the work performed during the action, as compared with the activities set out in Annex 1 to the GA. − financial criteria, including: − the amount of eligible costs − the reimbursement rates − the maximum grant amount (see Article 5.1). Step 1 — Application of reimbursement rate(s) to eligible costs Step 2 — Limit to the maximum grant amount The grant amount following Steps 1 and 2 is the lower of the two amounts. Step 3 — Reduction due to the no-profit rule