Common use of Funding Principles Clause in Contracts

Funding Principles. A Party which spends less than its allocated share of the Consortium Budget will be funded in accordance with its actual duly justified eligible costs only. A Party that spends more than its allocated share of the Consortium Budget will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share.

Funding Principles. A Party which spends less than its allocated share of the Consortium Budget will be funded in accordance with its actual duly justified eligible costs only. A Party that spends more than its allocated share of the Consortium Budget will be funded only in respect of duly justified eligible costs up to an amount not exceeding that share. For the avoidance of doubt, budget monies cannot be transferred between budget categories. In case a Party needs more money, it may ask for a supplement. Such request shall be addressed to the Supervisory Board in accordance with Article 6.3.6.