Examples of PPP Allowance in a sentence
Parties acknowledge that any PPP Allowance by the Stichting LSH-TKI will be allocated to the Coordinator and the Coordinator shall distribute the PPP Allowance between the Parties, if applicable, as set out in the Project Budget in Annex 2.
The Coordinator shall undertake to keep the PPP Allowance for the Project separated from its normal business accounts, its own assets and property.
The Project Committee is further entitled to terminate a Party’s participation to the Consortium Agreement in the event that it identifies a breach by a Party of its obligations under this Consortium Agreement or the PPP Allowance Agreement (e.g. improper implementation of the project).
The Parties acknowledge that the PPP Allowance Regulation applies to the PPP Allowance and Parties agree to adhere to the terms and conditions of the PPP Allowance Regulation as applicable under this Consortium Agreement.
In connection with the conditions and reporting requirements as set out in the PPP Allowance Agreement and with regard to the Foreground as referred to in Section 8.3 below, Parties shall provide the Coordinator with financial, scientific and progress reports with regard to the Project.
Pursuant to the PPP Allowance Agreement, any amendments or modifications of the text of this Consortium Agreement approved by all Parties require the prior written approval of Stichting LSH-TKI if, and to the extent that the PPP Allowance Agreement is still in effect.
Pursuant to the publication obligations set out in Section 5.12 of the PPP Allowance Agreement, the Parties must ensure open access (free of charge, online access for any user) to all scientific publications relating to its Foreground under the Project subject to the conditions hereunder.
Of the total eligible project costs, a maximum of 75% of the PPP Allowance may be used for fundamental research, a maximum of 50% for industrial research and a maximum of 25% for experimental development.
This Consortium Agreement shall be automatically terminated upon rejection of the Project Application by Stichting LSH-TKI and may be terminated by the Parties upon mutual written agreement in the event that the PPP Allowance Agreement has been terminated.
FUNDING STATEMENT This research project is financed by the PPP Allowance made available by Top Sector Life Sciences & Health to the Dutch Heart Foundation to stimulate public-private partnerships, grant number 01- 003-2021-B005, and by Philips Electronics Nederland B.V. Hanno L.