Common use of Recovery of Funds Clause in Contracts

Recovery of Funds. 1. If the co-financing has been paid for ineligible expenditures, irregular expenditures or the agreement has been violated, or the funds were unduly paid or overpaid, the Managing Authority issues a call for payment of funds, and the Lead Partner returns the wrongly paid co-financing as applicable. This also applies to expenditures incurred before the signing of the agreement.

Recovery of Funds. 1. If the co-financing has been paid for ineligible expenditures, irregular expenditures or the agreement has been violated, or the funds were unduly paid or overpaid, the Managing Authority issues produces a call for payment notice to return of funds, and the Lead Partner returns the wrongly paid co-financing as applicable. This also applies to expenditures expenses incurred before the signing signature of the agreement.