Financial Consequences of the termination of the participation of a Party Sample Clauses

Financial Consequences of the termination of the participation of a Party. A Party leaving the consortium shall refund all payments it has received except the amount of contribution accepted by the Funding Authority or another contributor. Furthermore a Defaulting Party shall, within the limits specified in Section 5.2 of this Consortium Agreement, bear any reasonable and justifiable additional costs occurring to the other Parties in order to perform its and their tasks.
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Financial Consequences of the termination of the participation of a Party. A Party leaving the consortium shall refund to the Coordinator any payments it has received except the amount of contribution accepted by the Granting Authority or another contributor. In addition, a Defaulting Party shall, within the limits specified in Section 5.2 of this Consortium Agreement, bear any reasonable and justifiable additional costs occurring to the other Parties in order to perform the leaving Party´s task and necessary additional efforts to fulfil them as a consequence of the Party leaving the consortium. The Project Management Board (PMB) should agree on a procedure regarding additional costs which are not covered by the Defaulting Party or the Mutual Insurance Mechanism. For the avoidance of doubt, this section is applicable to the Associated Partners too.
Sample 1
Financial Consequences of the termination of the participation of a Party. A Party leaving the Consortium shall refund to the Coordinator all payments it has received except the amount of actual eligible costs accepted by the European Commission in a period no longer that 30 days after the effective date of the termination of its participation. Furthermore a Defaulting Party shall, within the limits specified in Article 5.2 of this Consortium Agreement, bear any reasonable and justifiable additional costs occurring to the other Parties in order to perform its and their tasks.
Sample 1

Related to Financial Consequences of the termination of the participation of a Party

  • TERMINATION AND CONSEQUENCES OF TERMINATION 14.1 On termination of any Service Schedule for whatever reason the Client will cease to have the Services provided thereunder.

  • Consequences of Termination Upon the termination of this Agreement:

  • Consequences of Termination on Notice by the Province If the Province terminates the Agreement pursuant to section A11.1, the Province may take one or more of the following actions:

  • CONSEQUENCES OF TERMINATION AND EXPIRY 28.1 Notwithstanding the service of a notice to terminate this Framework Agreement, the Supplier shall continue to fulfil its obligations under this Framework Agreement until the date of expiry or termination of this Framework Agreement or such other date as required under this Clause 28 (Consequences of Termination and Expiry).

  • Termination of Participation If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals hereunder.

  • Consequences of termination or expiry 27.1 Notwithstanding the provisions of Clause 23, wherever the Authority chooses to put out to tender for a replacement service provider some or all of the Services, the Service Provider shall disclose to tenderers such information concerning the Services as the Authority may require for the purposes of such tender. The Service Provider may impose upon any recipient of such information such obligations of confidentiality as it may require.

  • Consequences of Expiry or Termination 50.1. Where the Authority terminates the Contractor’s interest in the Framework Agreement under clause 42 (Termination Rights) and makes other arrangements for the supply of Services, the Contractor indemnifies the Authority against all costs incurred in making those arrangements.

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