Sanctioned Amount Clause Samples

Sanctioned Amount. SECOND PARTY has submitted the approved rate of IA to the FIRST PARTY for its approval and FIRST PARTY has accorded sanction to the SECOND PARTY equivalent to the approved rate (as submitted by the SECOND PARTY or finalized after deliberations between the FIRST PARTY, IA and the SECOND PARTY) plus preparatory expenses (administrative expenses including cost of monitoring and verification) as defined in the IGEA approved earlier. The final sanctioned amount shall be lower of: a. Rs. 25 Lakhs b. Cost of implementation of the recommendations as per IGEA including administrative expenses as defined in the Scheme Document subject to a maximum of 10% of the total cost of implementation. c. Final negotiated amount to be paid to Implementing Agency plus administrative expenses such that administrative expenses are not more than 10% of the total amount.