Common use of Payment modalities Clause in Contracts

Payment modalities. 1. The Commission shall make the following payments: – pre-financing in accordance with Article 6; – interim payments of the financial contribution of the Union corresponding to the amount accepted for a reporting period in accordance with Article 6; – a final payment corresponding to the amount accepted for the last reporting period, or, if the consortium has received only pre-financing, to the amount accepted for the project, plus any adjustment needed. Where the amount of the financial contribution of the Union is less than the amount already paid to the consortium, the Commission shall recover the difference. Where the amount of the financial contribution of the Union is more than the amount already paid to the consortium, the Commission shall pay the difference as the final payment up to the limits defined in Article 5(1).

Payment modalities. 1. The Commission shall make the following payments: – pre-financing in accordance with Article 6; – interim payments of the Community financial contribution of the Union corresponding to the amount accepted for a reporting period in accordance with Article 6; – a final payment corresponding to the amount accepted for the last reporting period, or, if the consortium has received only pre-financing, to the amount accepted for the project, plus any adjustment needed. Where the amount of the Community financial contribution of the Union is less than the amount already paid to the consortium, the Commission shall recover the difference. Where the amount of the Community financial contribution of the Union is more than the amount already paid to the consortium, the Commission shall pay the difference as the final payment up to the limits defined in Article 5(1).

Payment modalities. 1. The Commission shall make the following payments: – − pre-financing in accordance with Article 6; – − interim payments of the financial contribution of the Union corresponding to the amount accepted for a reporting period in accordance with Article 6; – − a final payment corresponding to the amount accepted for the last reporting period, or, if the consortium has received only pre-financing, to the amount accepted for the project, plus any adjustment needed. Where the amount of the financial contribution of the Union is less than the amount already paid to the consortium, the Commission shall recover the difference. Where the amount of the financial contribution of the Union is more than the amount already paid to the consortium, the Commission shall pay the difference as the final payment up to the limits defined in Article 5(1).

Payment modalities. 1. The Commission shall make the following payments: – pre-financing pre­financing in accordance with Article 6; – interim payments of the Community financial contribution of the Union corresponding to the amount accepted for a reporting period in accordance with Article 6; – a final payment corresponding to the amount accepted for the last reporting period, or, if the consortium has received only pre-financingpre­financing, to the amount accepted for the project, plus any adjustment needed. Where the amount of the Community financial contribution of the Union is less than the amount already paid to the consortium, the Commission shall recover the difference. Where the amount of the Community financial contribution of the Union is more than the amount already paid to the consortium, the Commission shall pay the difference as the final payment up to the limits defined in Article 5(1).