Common use of For Multi-Year Projects Clause in Contracts

For Multi-Year Projects. First payments 5.2.1 for the first fiscal year, a first payment representing half (50%) of Canada’s financial contribution for the fiscal year in question shall be made following approval of the project by Canada and the environmental assessment, if applicable, or the document indicating that an environmental assessment is not required; 5.2.2 for subsequent fiscal years, a first payment representing half (50%) of Canada’s financial contribution shall be made following the production, if necessary, of an update on the project and provided that the requirements for previous payments have been met; 5.2.3 for the first fiscal year, a second and final payment, not exceeding the balance of Canada’s financial contribution for that fiscal year, shall be made following the production of: 5.2.3.1 an interim financial statement for the fiscal year in question; and 5.2.3.2 a work progress report for the fiscal year in question; 5.2.4 for each subsequent fiscal year excluding the final fiscal year, a second and final payment, not exceeding the balance of Canada’s financial contribution for that fiscal year, shall be made following the production of: 5.2.4.1 a final financial statement for the previous fiscal year; 5.2.4.2 an interim financial statement for the fiscal year in question; and 5.2.4.3 a work progress report for the fiscal year in question; 5.2.5 for the final fiscal year, a second payment representing thirty percent (30%) of Canada’s financial contribution for the fiscal year in question shall be made following the production of: 5.2.5.1 a final financial statement for the previous fiscal year; 5.2.5.2 an interim financial statement for the fiscal year in question; and 5.2.5.3 a work progress report for the fiscal year in question; Third and final payment (final fiscal year) 5.2.6 for the final fiscal year, a third and final payment, not exceeding the balance of Canada’s financial contribution, shall be made following the production of: 5.2.6.1 a final activity report for the fiscal year in question; 5.2.6.2 a final financial statement for the fiscal year in question; and 5.2.6.3 where applicable, confirmation of environmental mitigation measures.

For Multi-Year Projects. First payments 5.2.1 for the first fiscal year, a first payment representing half (50%) of Canada’s financial contribution for the fiscal year in question shall be made following approval of the project by Canada and the environmental assessment, if applicable, or the document indicating that an environmental assessment is not required; 5.2.2 for subsequent fiscal years, a first payment representing half (50%) of Canada’s financial contribution shall be made following the production, if necessary, of an update on the project and provided that the requirements for previous payments have been met; 5.2.3 for the first fiscal year, a second and final payment, not exceeding the balance of Canada’s financial contribution for that fiscal year, shall be made following the production of: 5.2.3.1 an interim financial statement for the fiscal year in question; and 5.2.3.2 a work progress report for the fiscal year in question; 5.2.4 for each subsequent fiscal year excluding the final fiscal year, a second and final payment, not exceeding the balance of Canada’s financial contribution for that fiscal year, shall be made following the production of: 5.2.4.1 a final financial statement for the previous fiscal year; 5.2.4.2 an interim financial statement for the fiscal year in question; and 5.2.4.3 a work progress report for the fiscal year in question; 5.2.5 for the final fiscal year, a second payment representing thirty percent (30%) of Canada’s financial contribution for the fiscal year in question shall be made following the production of: 5.2.5.1 a final financial statement for the previous fiscal year; 5.2.5.2 an interim financial statement for the fiscal year in question; and 5.2.5.3 a work progress report for the fiscal year in question; Third and final payment (final fiscal year); 5.2.6 for the final fiscal year, a third and final payment, not exceeding the balance of Canada’s financial contribution, shall be made following the production of: 5.2.6.1 a final activity report for the fiscal year in question; 5.2.6.2 a final financial statement for the fiscal year in question; and 5.2.6.3 where applicable, confirmation of environmental mitigation measures.