Financial Contribution Scheme Sample Clauses

Financial Contribution Scheme. 6.1 The operating annual budget for each calendar year shall be financed through assessed annual contributions based upon the Financial Contribution Scheme as regulated to in Article 6 of the Agreement. 6.2 The financial resources of the Secretariat may also include voluntary contributions from NDPC Partners, as well as grants or payments of any kind from international and national organizations, or other sources for the purpose of furthering the mandate and the functions of the Secretariat. 6.3 The Parties to the Agreement shall annually in advance, and not later than 31 March, approve the budget pertaining to the Secretariat for the subsequent calendar year. Financial contributions from the Parties to the Agreement should arrive to the account of the Secretariat not later than 1 May for each calendar year. 6.4 The financial contributions, as mentioned above, are to be considered as resources of the Secretariat and shall cover only the needs and operations of the Secretariat. Any programme or project activities to be managed or supervised by the Secretariat shall be financed from sources outside the budget of the Secretariat. 6.5 For financing projects of the NDPC the Parties to the Agreement may establish a special fund. The means of this special fund or other resources (such as private contributions or grants) for projects shall be placed in a separate bank account. 6.6 Any contribution of additional resources has to be approved by the Steering Committee. 6.7 Interest earned on contributions under the Financial Contribution Scheme shall be added to the Secretariat bank account. Interest earned on any other resources, possessed by the NDPC, and as described in Paragraph 6.4 above, pertaining for projects and activities shall also be managed by the Secretariat, but on a separate account. 6.8 The Head of Secretariat shall be responsible for administering the separate Secretariat bank accounts.
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Financial Contribution Scheme. The Secretariat of the Northern Dimension Partnership on Culture established according to the Agreement on the Establishment of the Secretariat of the Northern Dimension Partnership on Culture (Agreement) shall have an operating budget for each calendar year. The Parties to the Agreement shall finance the budget through assessed annual contributions based upon the Financial Contribution Scheme set out in this Addendum No. 2 to the Agreement. According to the Agreement the financial contributions in aggregate should amount to at least EUR 110 000 annually in order to enable establishing the Secretariat. Minimum annual contribution payable by a Party shall be EUR 10.000. According to Article 6.4 of the Agreement the Financial Contribution Scheme shall be reviewed every third year and any changes to the Financial Contribution Scheme are to be decided upon by the Parties to the Agreement meeting within the Steering Committee. The annual financial contributions for the period of 2016 -2018 shall be divided according to the following distribution: THE GOVERNMENT OF THE REPUBLIC OF FINLAND (EUR 20 000) THE GOVERNMENT OF THE REPUBLIC OF LATVIA (EUR10 000) THE GOVERNMENT OF THE KINGDOM OF NORWAY (EUR 20 000) THE GOVERNMENT OF THE REPUBLIC OF POLAND (EUR 20 000) THE GOVERNMENT OF THE RUSSIAN FEDERATION (EUR 20 000) THE GOVERNMENT OF THE KINGDOM OF SWEDEN (EUR ▇▇ ▇▇▇) ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇.▇▇▇▇▇▇▇▇ ▇▇▇▇: Valsts sekretārs ▇.▇▇▇▇▇▇▇ 18.12.2015. 10:10 3375
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Related to Financial Contribution Scheme

  • Financial contribution 7.1.1 The total financial contribution to the Activity amounts up to: 50.000 EUR (Fifty Thousand EURO) for IPR & product development 7.1.2 For the purpose of this Contract the above mentioned total financial contribution is stated to be a ceiling which amount shall not be exceeded and for which the Incubatee shall perform the Activity in full. 7.1.2.1 At the end of the Contract Term the Incubatee shall deliver a cost report, detailing all costs incurred, with all invoices attached. 7.1.2.2 The Incubatee shall prove all expenses from the funding solely with third parties’ invoices used for IPR and product development following the provisions on Article 4 here above. The Incubatee is not authorized to use the above stated funding for reimbursement of his own hours spent in the project. 7.1.3 The above amount does not include any taxes and duties.

  • FINANCIAL CONTRIBUTIONS (§5.d): Owner shall use reasonable efforts to seek contributions and grants from Capital Metro Transit Authority (CMTA) and ▇▇▇▇▇▇ County.

  • Distribution of Financial Contribution The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • Defined Contribution Plan A plan under which Employee accounts are maintained for each Participant to which all contributions, forfeitures, investment income and gains or losses, and expenses are credited or deducted. A Participant’s benefit under such plan is based solely on the fair market value of his or her account balance.