Consortium Plan definition
Consortium Plan. Consortium Plan means the description of the Action and the related agreed budget as first defined in the Grant Agreement and which may be updated by the General Assembly.
Consortium Plan means the description of the work and the related agreed Consortium Budget, including the payment schedule, as updated and approved by the General Assembly.
Consortium Plan has the meaning set forth in Section 2.01.
Examples of Consortium Plan in a sentence
The budget set out in the Consortium Plan shall be valued in accordance with the usual accounting and management principles and practices of the respective Parties.
The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.
Each Party shall implement its tasks in accordance with the Consortium Plan and shall bear sole responsibility for ensuring that its acts within the Project do not knowingly infringe third party property rights.
More Definitions of Consortium Plan
Consortium Plan. Consortium Plan means the description of the Action and the related agreed budget as first defined in the Grant Agreement and which may be updated by the General Assembly. Article 5.5 of the MGA states that the estimated budget may be adjusted by transfers of amounts between Parties or between budget categories (or both) without an amendment of the Grant Agreement. As minor modifications to the original description of the Action and estimated budget quite frequently are necessary during the project and do not have to result in changes of the Grant Agreement, this part of the Grant Agreement therefore can become outdated, but the consortium still needs to have a binding agreement on who has to perform which tasks for which budget: the Consortium Plan. As the project progresses and minor budget shifts become necessary, the Consortium Plan is dynamic and will be updated when needed or on a regular basis. As such it is not a formal annex to the Grant Agreement. The starting point for the Consortium Plan will be the “description of the Action” as laid down in Annex 1 and the related estimated budget in Annex 2 of the Grant Agreement. It is strongly advised to inform the Granting Authority of any changes accordingly in the periodic reports to the Granting Authority. If the discrepancy becomes too big, and in consultation with the Granting Authority, an updated version of the Grant Agreement Annex 1 could be generated, as an amendment to the Grant Agreement. The Consortium Plan is the formal outcome of the regular process of decision-making inside the Consortium as laid down in this Consortium Agreement.
Consortium Plan. Consortium Plan means the description of the work and the related agreed Consortium Budget, including the payment schedule, as updated and approved by the General Assembly. Art. 5, Core EC-GA, states that “Beneficiaries [Parties] are allowed to transfer budget between different activities and between themselves in so far as the work is carried out as foreseen in Annex I.” As minor modifications quite frequently are necessary during the project and do not have to result in changes of Annex I, Annex I therefore can become outdated, but the consortium still needs to have a binding agreement on who has to perform which tasks for which budget: the Consortium Plan. As the project progresses and minor budget shifts become necessary, the Consortium Plan is dynamic and will be updated when needed or on a regular basis. As such it is not a formal annex to the Grant Agreement The starting point for the Consortium Plan will be the Description of Work (DoW) as laid down in Annex I of the EC-GA. It is strongly advised to inform the European Commission of any changes accordingly in the periodic reports to the European Commission. If the discrepancy becomes too big and in consultation with the European Commission an updated version of the Annex I could be generated, as an amendment to the Grant Agreement. The Consortium Plan is the formal outcome of the regular process of decision making inside the Consortium as laid down in this Consortium Agreement.
Consortium Plan. [Actual Cost Grant] Consortium Plan means the Description of the Action and the related agreed budget as first defined in the Grant Agreement and which may be updated by the General Assembly. [Lump Sum Grant] Consortium Plan means the Description of the Action (Annex 1 of the Grant Agreement) and estimated budget (Annex 2 of the Grant Agreement) as defined and reallocated according to the amendments to the Grant Agreement.
Consortium Plan means the description of the Project and the related agreed budget as first defined in the Grant Agreement and which may be updated as appropriate by the General Assembly.
Consortium Plan. Consortium Plan means the description of the action and the related agreed budget as first defined in the Grant Agreement and which may be updated by the Supervisory Board. “Data” Data means personal data which is either owned/stored by a Party before the commencement of the Project or which is generated under the Project, that shall be subject to terms and conditions specified in Article 11 of the Consortium Agreement.
Consortium Plan means the description of the work and the related agreed Consortium Budget, including the payment schedule, as updated and approved by the GRA ITD Steering Committee the initial version of which is included as [Attachment 8] to this Agreement.
Consortium Plan means the EC-GA Annex I description of the work and the related agreed Consortium Budget.