Defaulting Beneficiary definition

Defaulting Beneficiary means a Beneficiary in breach of any obligation(s) under the Grant Agreement and/or this Consortium Agreement.
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Defaulting Beneficiary has the meaning ascribed to such term as set forth in Section 4.5;
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Defaulting Beneficiary means a Beneficiary which the General Assembly has identified to be in breach of this Consortium Agreement and/or the Grant Agreement as specified in Section 4.2 of this Consortium Agreement. means the body awarding the grant for the Project. means: Access Rights are Needed if, without the grant of such Access Rights, carrying out the tasks assigned to the recipient Beneficiary would be technically or legally impossible, significantly delayed, or require significant additional financial or human resources. Access Rights are Needed if, without the grant of such Access Rights, the Exploitation of own Results would be technically or legally impossible. .
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Examples of Defaulting Beneficiary in a sentence

  • Where the IMI2 JU terminates the participation of a Defaulting Beneficiary due to his breach of any obligation under the Grant Agreement in accordance with the provisions of the Grant Agreement, subject to the continuation in force of Clauses 13.4.2 and 13.5, that Defaulting Beneficiary’s participation under, and as a Beneficiary to, this Consortium Agreement shall be deemed to have been terminated.

  • If the payment for such Offered Shares is not delivered to the Offeror by a Beneficiary (the “Defaulting Beneficiary”) on the Closing Date, then the rights and title of the Offeror in respect of such applicable Offered Shares that were to have been transferred to the Defaulting Beneficiary shall be retained by the Offeror until the relevant purchase price is paid by the Defaulting Beneficiary.

  • The Coordinator is entitled to recover any payments already paid to a Defaulting Beneficiary.

  • However, this Consortium Agreement or the participation of one or more Beneficiaries to it may be terminated (a) by a non-Defaulting Beneficiary by the mutual written consent of the Beneficiaries and subject without limitation to Sections 3.3, 4.1 and 9.9.2.1 of this Consortium Agreement; (b) for a Defaulting Beneficiary subject and without limitation to Sections 3.3, 4.2 and 9.9.2.2 of this Consortium Agreement and (c) by the mutual written consent of all of the Beneficiaries on terms to be agreed.

  • In addition, a Defaulting Beneficiary shall bear any reasonable and justifiable additional costs occurring to the other Beneficiaries in order to perform the leaving Beneficiary´s task and necessary additional efforts to fulfil them as a consequence of the Beneficiary leaving the consortium.

  • The Defaulting Beneficiary may not veto decisions relating to its participation and termination in the Consortium or the consequences of them.

  • In the event of a breach by a Beneficiary (Defaulting Beneficiary) of its obligations under this Consortium Agreement or the Grant Agreement which is irremediable or which is not remedied within thirty (30) calendar days of a written notice from the Coordinator, then the other Beneficiaries in the Consortium Council may jointly decide to terminate this Consortium Agreement with respect to the Defaulting Beneficiary following a minimum of 30 calendar days prior to written notice by the Coordinator.

  • The Coordinator is entitled to recover any payments already paid to a Defaulting Beneficiary except the lump sum shares already claimed by the Defaulting Beneficiary and accepted by the Granting Authority.

  • This will be discussed on a case by case basis with each beneficiary The Coordinator is entitled to recover any payments already paid to a Defaulting Beneficiary except the costs already claimed by the Defaulting Beneficiary and accepted by the Granting Authority.

  • Any such Default Notice shall set out the nature of the alleged default and require the Defaulting Beneficiary to remedy the default within such reasonable time as may be specified in the Default Notice.