Common use of Financial Contribution Clause in Contracts

Financial Contribution. 6.1.1 The maximum financial contribution payable by the Incubator to the Incubatee during performance of the Activity amounts to: 50,000 EUR (Fifty Thousand EURO) and is hereinafter also referred to as the “Incentive Amount”. The type price of the Incentive Amount is a ceiling price. 50% of the Incentive Amount, provided by the Agency, can only be used by the Incubatee for expenses with third parties related to IPR and product development. 6.1.2 At the end of the Contract Term, the Incubatee shall deliver a cost report, detailing all costs actually incurred, with all invoices attached. If the Incubatee’s allowable costs actually incurred under the Contract are lower than the Incentive Amount identified in Article 6.1.1. above, then the Incentive Amount shall be reduced accordingly. 6.1.3 The Incubatee is not authorised to use part or the total of the Incentive Amount for reimbursement of its own manpower hours spent on the Activity. 6.1.4 The Incentive Amount does not include any taxes and duties and cannot be used to pay for taxes or duties.