Common use of Research Funds Clause in Contracts

Research Funds. (a) During the Term GRDC must provide to the Lead Research Organisation the Research Funds by way of payments in accordance with this clause 2. (b) The Research Organisations must use the Research Funds for the sole purpose of carrying out the Project in accordance with this Contract. (c) A Research Organisation must not use Research Funds to acquire a Capital Item unless the details of the need for, and costs of, the Capital Item are included in Item 15 of Schedule 1, or unless it has obtained GRDC’s prior written approval.

Research Funds. (a) During the Term GRDC must provide to the Lead Research Organisation the Research Funds by way of payments in accordance with this clause 2. (b) The Research Organisations Organisation must use the Research Funds for the sole purpose of carrying out the Project in accordance with this Contract. (c) A The Research Organisation must not use Research Funds to acquire a Capital Item unless a description of, the details of the need for, and costs of, the Capital Item are included in Item 15 14 of Schedule 1, or unless it has obtained GRDC’s prior written approvalapproval and Item 14 of Schedule 1 has been updated accordingly.