Common use of Interim payments — Amount — Calculation Clause in Contracts

Interim payments — Amount — Calculation. Interim payments reimburse the eligible costs incurred for the implementation of the specific action during the corresponding reporting periods. The [Commission][Agency] will pay to the partner the amount due as interim payment within 90 days from receiving the periodic report (see Article 16), except if Articles 53 or 54 FPA apply. Payment is subject to the approval of the periodic report. Its approval does not imply recognition of the compliance, authenticity, completeness or correctness of its content. The amount due as interim payment is calculated by the [Commission][Agency] in the following steps: Step 1 — Application of the reimbursement rates Step 2 — Limit to 90% of the maximum grant amount 17.3.1 Step 1 — Application of the reimbursement rates 17.3.2 Step 2 — Limit to 90% of the maximum grant amount