Common use of Monitoring Process Clause in Contracts

Monitoring Process. In case of overdue payables, the Management Control Commission (MCC) will initiate a monitoring process against a Club in the following cases: • At the request of a Player: ▪ in the case that the Player’s remuneration has been overdue for more than 15 days; or ▪ if the Club has failed to pay the Player’s total gross remuneration by 15 July; or • Automatically, ▪ if the Club’s declarations of quarterly remuneration payment to be sent to the MCC (on 15 October, 15 January, 15 April and 15 July) reveal that the Player’s remuneration has been overdue for more than 15 days; or ▪ if a Club fails to report its declarations of quarterly remuneration payment on the abovementioned dates. The MCC will initiate a period of up to 30 days (non-extendable deadline), depending on the time elapsed from the moment the payment of the remuneration became overdue, to monitor the claim for overdue payables. The cases in which the Club’s declarations of quarterly remuneration payment show that the payment of the remuneration has been overdue for at least 45 days or the cases in which the payment of the remuneration become overdue for 45 days during the MCC monitoring process will be referred to the Finance Panel (“Finance Panel”) without delay. For training agreements, each of the aforementioned overdue periods will be reduced to 10 days. If a Player reports an overdue payment after 20 July, the monitoring process will start no earlier than 15 September. The monitoring process by the MCC will automatically stop from the moment that a legal claim has been brought or contested to the competent authority to deal with the club- player contract. If the MCC considers that this claim or contestation has been brought or the relevant proceedings have been opened for the sole purpose of avoiding the deadlines set out in the EuroLeague Financial Stability and Fair Play Regulations (i.e. in order to buy time) and/or that this claim or contestation is unfounded, the relevant amount will still be considered as an overdue payable.