Common use of Mechanism Clause in Contracts

Mechanism. 1. An automatic correction mechanism of the initial operational contribution of Albania for year N, as adjusted in accordance with Article 3(8), shall apply and shall be calculated in year N+2. It shall be based on the performance of Albania and Albanian legal entities in the parts of the Horizon Europe Programme which are implemented through competitive grants financed from commitment appropriations from the year N, increased in accordance with Article 3(4). The amount of the automatic correction shall be calculated based on the difference between: a) the initial amounts of the legal commitments for competitive grants actually entered into with Albania or Albanian legal entities financed from commitment appropriations of the year N, increased in accordance with Article 3(4); and b) the corresponding operational contribution of the year N paid by Albania as adjusted pursuant Article 3(8), excluding non-intervention costs financed from commitment appropriations from the year N, increased in accordance with Article 3(4). 2. Where the amount referred to in paragraph 1, whether that amount is positive or negative, exceeds 8 % of the corresponding initial operational contribution as adjusted pursuant to Article 3(8), the initial operational contribution of Albania for year N shall be corrected. The amount due by or to be received by Albania as an additional contribution or reduction of Albania’s contribution under the automatic correction mechanism shall be the amount exceeding this 8 % threshold. The amount below this threshold of 8 % will not be taken into account in calculating the additional contribution due or compensated. 3. Detailed rules on the automatic correction mechanism are laid down in Annex I.

Appears in 2 contracts

Sources: International Agreement, International Agreement

Mechanism. 1. An automatic correction mechanism of the initial operational contribution of Albania Serbia for year N, as adjusted in accordance with Article 3(8), shall apply and shall be calculated in year N+2. It shall be based on the performance of Albania Serbia and Albanian Serbian legal entities in the parts of the Horizon Europe Programme which are implemented through competitive grants financed from commitment appropriations from the year N, increased in accordance with Article 3(4). The amount of the automatic correction shall be calculated based on the difference between: a) the initial amounts of the legal commitments for competitive grants actually entered into with Albania Serbia or Albanian Serbian legal entities financed from commitment appropriations of the year N, increased in accordance with Article 3(4); and b) the corresponding operational contribution of the year N paid by Albania Serbia as adjusted pursuant Article 3(8), excluding non-intervention costs financed from commitment appropriations from the year N, increased in accordance with Article 3(4). 2. Where the amount referred to in paragraph 1, whether that amount is positive or negative, exceeds 8 % of the corresponding initial operational contribution as adjusted pursuant to Article 3(8), the initial operational contribution of Albania Serbia for year N shall be corrected. The amount due by or to be received by Albania Serbia as an additional contribution or reduction of AlbaniaSerbia’s contribution under the automatic correction mechanism shall be the amount exceeding this 8 % threshold. The amount below this threshold of 8 % will not be taken into account in calculating the additional contribution due or compensated. 3. Detailed rules on the automatic correction mechanism are laid down in Annex I.

Appears in 1 contract

Sources: Agreement on Participation in a Union Programme

Mechanism. 1. An automatic correction mechanism of the initial operational contribution of Albania Armenia for year N, as adjusted in accordance with Article 3(8), shall apply and shall be calculated in year N+2. It shall be based on the performance of Albania and Albanian Armenian legal entities in the parts of the Horizon Europe Programme which are implemented through competitive grants financed from commitment appropriations from the year N, increased in accordance with Article 3(4). The amount of the automatic correction shall be calculated based on the difference between: a) the initial amounts of the legal commitments for competitive grants actually entered into with Albania Armenia or Albanian Armenian legal entities financed from commitment appropriations of the year N, increased in accordance with Article 3(4); and b) the corresponding operational contribution of the year N paid by Albania Armenia as adjusted pursuant Article 3(8), excluding non-intervention costs financed from commitment appropriations from the year N, increased in accordance with Article 3(4). 2. Where the amount referred to in paragraph 1, whether that amount is positive or negative, exceeds 8 % of the corresponding initial operational contribution as adjusted pursuant to Article 3(8), the initial operational contribution of Albania Armenia for year N shall be corrected. The amount due by or to be received by Albania Armenia as an additional contribution or reduction of AlbaniaArmenia ’s contribution under the automatic correction mechanism shall be the amount exceeding this 8 % threshold. The , the amount below this threshold of 8 % will not be taken into account in calculating the additional contribution due or compensated. 3. Detailed rules on the automatic correction mechanism are laid down in Annex I.

Appears in 1 contract

Sources: Participation Agreement

Mechanism. 1. An automatic correction mechanism of the initial operational contribution of Albania Kosovo for year N, as adjusted in accordance with Article 3(8), shall apply and shall be calculated in year N+2. It shall be based on the performance of Albania Kosovo and Albanian Kosovo legal entities in the parts of the Horizon Europe Programme which are implemented through competitive grants financed from commitment appropriations from the year N, increased in accordance with Article 3(4). The amount of the automatic correction shall be calculated based on the difference between: a) the initial amounts of the legal commitments for competitive grants actually entered into with Albania Kosovo or Albanian Kosovo legal entities financed from commitment appropriations of the year N, increased in accordance with Article 3(4); and b) the corresponding operational contribution of the year N paid by Albania Kosovo as adjusted pursuant Article 3(8), excluding non-intervention costs financed from commitment appropriations from the year N, increased in accordance with Article 3(4). 2. Where the amount referred to in paragraph 1, whether that amount is positive or negative, exceeds 8 % of the corresponding initial operational contribution as adjusted pursuant to Article 3(8), the initial operational contribution of Albania Kosovo for year N shall be corrected. The amount due by or to be received by Albania Kosovo as an additional contribution or reduction of AlbaniaKosovo’s contribution under the automatic correction mechanism shall be the amount exceeding this 8 % threshold. The amount below this threshold of 8 % will not be taken into account in calculating the additional contribution due or compensated. 3. Detailed rules on the automatic correction mechanism are laid down in Annex I.

Appears in 1 contract

Sources: International Agreement

Mechanism. 1. An automatic correction mechanism of the initial operational contribution of Albania Montenegro for year N, as adjusted in accordance with Article 3(8), shall apply and shall be calculated in year N+2. It shall be based on the performance of Albania Montenegro and Albanian Montenegrin legal entities in the parts of the Horizon Europe Programme which are implemented through competitive grants financed from commitment appropriations from the year N, increased in accordance with Article 3(4). The amount of the automatic correction shall be calculated based on the difference between: a) the initial amounts of the legal commitments for competitive grants actually entered into with Albania Montenegro or Albanian Montenegrin legal entities financed from commitment appropriations of the year N, increased in accordance with Article 3(4); and b) the corresponding operational contribution of the year N paid by Albania Montenegro as adjusted pursuant Article 3(8), excluding non-intervention costs financed from commitment appropriations from the year N, increased in accordance with Article 3(4). 2. Where the amount referred to in paragraph 1, whether that amount is positive or negative, exceeds 8 % of the corresponding initial operational contribution as adjusted pursuant to Article 3(8), the initial operational contribution of Albania Montenegro for year N shall be corrected. The amount due by or to be received by Albania Montenegro as an additional contribution or reduction of AlbaniaMontenegro’s contribution under the automatic correction mechanism shall be the amount exceeding this 8 % threshold. The amount below this threshold of 8 % will not be taken into account in calculating the additional contribution due or compensated. 3. Detailed rules on the automatic correction mechanism are laid down in Annex I.

Appears in 1 contract

Sources: International Agreement