Common use of Financial Contribution Clause in Contracts

Financial Contribution. 7.1.1 The total financial contribution to the Activity amounts up to: £43,103 (Forty-three thousand one hundred and three pounds) for IPR & product development (funded by ESA and STFC) 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. At the end of the Contract Term the ceiling amount shall be converted into a firm fixed amount by means of a Conversion Proposal, detailing all costs incurred with all invoices attached, to be submitted by the Incubatee to the SIL. 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 authorised 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 Contribution. 7.1.1 The total financial contribution to the Activity amounts up to: £43,103 (Forty-three thousand one hundred and three pounds) for IPR & product development (funded by ESA and STFC) 7.1.2 For the purpose of this Contract the above mentioned abovementioned 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. At the end of the Contract Term the ceiling amount shall be converted into a firm fixed amount by means of a Conversion Proposal, detailing all costs incurred with all invoices attached, to be submitted by the Incubatee to the SIL. 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 authorised 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 Contribution. 7.1.1 The total financial contribution to the Activity amounts up to: £43,103 (Forty-three thousand one hundred and three pounds) for IPR & product development (funded by ESA the Agency and STFCUoL) 7.1.2 For the purpose of this Contract the above mentioned abovementioned 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. At the end of the Contract Term the ceiling amount shall be converted into a firm fixed amount by means of a Conversion Proposal, detailing all costs incurred with all invoices attached, to be submitted by the Incubatee to the SIL. UoL. 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 authorised 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 Contribution. 7.1.1 The total financial contribution to the Activity amounts up to: £43,103 (Forty-three thousand one hundred and three pounds) for IPR & product development (funded by ESA the Agency and STFCUoL) 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. At the end of the Contract Term the ceiling amount shall be converted into a firm fixed amount by means of a Conversion Proposal, detailing all costs incurred with all invoices attached, to be submitted by the Incubatee to the SIL. UoL. 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 authorised 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.