Share Budget Sample Clauses
The Share Budget clause defines how a specified budget is allocated and managed among multiple parties involved in a project or agreement. Typically, it outlines the total available funds, the method for dividing the budget, and any rules for adjusting allocations if circumstances change. This clause ensures transparency and fairness in financial contributions and spending, helping to prevent disputes over resource distribution and clarifying each party's financial responsibilities.
Share Budget. A Participant that spends less than its allocated share of the Budget will receive any payment only in accordance with its actual duly justified eligible costs only. In any case of a Participant having received excess payments, the Participant has to return the relevant amount to the Project Coordinator without undue delay. A Participant that spends more than its allocated share of the Budget shall be responsible for the additional cost and will not receive an additional payments, unless expressly agreed otherwise between the Participants.