Common use of Interim reports and further Clause in Contracts

Interim reports and further. pre-financing payments 3.1. Where the interim report shows that less than 70% of the previous pre-financing payment(s) paid has been used to cover costs of the Project, the coordinator must submit a further interim report including a request for payment for the remaining part of the pre-financing amounting to a total of maximum [80%] of the maximum grant amount specified in Article I. 3.1 [by [date to be specified by NA]/[once at least 70 % of the amount of first pre-financing payment has been used.]

Interim reports and further. pre-financing payments 3.11. Where the interim report shows that less than 70% of the previous pre-financing payment(s) paid has been used to cover costs of the Project, [NA to select and complete as appropriate: either [the amount of the new pre-financing to be paid must be reduced by the difference between the 70% threshold and the amount used. The coordinator must submit a further interim report including a request for payment for the remaining part of the pre-financing amounting to a total of maximum 5 [80%] of the maximum grant amount specified in Article I. 3.1 [by [date to be specified by NA]/[once at least 70 % of the amount of first equal to the pre-financing payment has been usedto be paid].]