Examples of Granting authority in a sentence
In accordance with its own usual accounting and management principles and practices, each Beneficiary shall be solely responsible for justifying its costs (and those of its Affiliated Entities, if any) with respect to the Project towards the Granting Authority.
As such, the funds transferred by the Granting Authority to the Coordinator's bank account shall constitute an upper limit to the accumulated amounts that may be disbursed within the Consortium.
Neither the Coordinator nor any of the other Beneficiaries shall be in any way liable or responsible for such justification of costs towards the Granting Authority.
Distribution of Financial Contribution The financial contribution of the Granting Authority to the Project shall be distributed by the Coordinator according to: the Consortium Plan the approval of reports by the Granting Authority, and the provisions of payment in Section 7.2. A Beneficiary shall be funded only for its tasks carried out in accordance with the Consortium Plan.
With reference to Article 22 of the Grant Agreement, no Beneficiary shall before the end of the Project receive more than its allocated share of the maximum grant amount less the amounts retained by the Granting Authority for the Mutual Insurance Mechanism and for the final payment.