Payments to Parties are the exclusive tasks of the Coordinator Clause Samples

This clause establishes that only the Coordinator is responsible for making payments to the involved parties. In practice, this means that no other party or entity within the agreement is authorized to disburse funds or settle financial obligations; all payments must be processed through the Coordinator. By centralizing payment responsibilities, the clause ensures clear accountability and reduces the risk of confusion or disputes regarding who is authorized to make payments.
Payments to Parties are the exclusive tasks of the Coordinator. In particular, the Coordinator shall: − notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references − perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts − undertake to keep the Funding Authority’s financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation. − With reference to Articles 21.2 and 21.3.2 of the Grant Agreement, no Party shall before the end of the Project receive more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted.
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Payments to Parties are the exclusive tasks of the Coordinator. In particular, the Coordinator shall: notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts undertake to keep the Funding Authority’s financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation. With reference to Articles 21.2 and 21.3.2 of the Grant Agreement, no Party shall, before the end of the Project, receive more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted. The payment schedule, which contains the transfer of pre-financing and interim payments to Parties, will be handled according to the following. The Coordinator is entitled to withhold any payments due to a Party identified by a responsible Consortium Body to be in potential breach of its obligations under this Consortium Agreement or the Grant Agreement (e.g.: a partner producing poor quality work or not providing deliverables or not implementing action tasks listed in the Grant Agreement on time etc.) or to a Beneficiary which has not yet signed this Consortium Agreement. The Coordinator is entitled to recover any payments already paid to a Defaulting Party. The Coordinator is equally entitled to withhold payments to a Party when this is suggested by or agreed with the Funding Authority.
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Payments to Parties are the exclusive tasks of the Coordinator. In particular, the Coordinator shall: − notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references − perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts − undertake to keep the Funding Authority’s financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation. With reference to Articles 21.2 and 21.3.2 of the Grant Agreement, no Party shall before the end of the Project receive more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted. Requests by the Parties to the Coordinator for their portion of payments shall be made within thirty (30) days of such request, after EU funds were received by the coordinator.
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Payments to Parties are the exclusive tasks of the Coordinator. In particular, the Coordinator shall: - notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references - perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts - undertake to keep the Community financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation.
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Payments to Parties are the exclusive tasks of the Coordinator. In particular, the Coordinator shall:  notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references  perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts  undertake to keep the Funding Authority’s financial contribution to the Project separated from its normal business accounts, its own assets and property, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation.  With reference to Articles 21.2 and 21.3.2 of the Grant Agreement, no Party shall before the end of the Project receive more than its allocated share of the maximum grant amount from which the amounts retained by the Funding Authority for the Guarantee Fund and for the final payment have been deducted. Each Party is responsible to ensure that the Coordinator at all times have the correct bank details and relevant references for the transfer of funds from the Funding Authority.
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Related to Payments to Parties are the exclusive tasks of the Coordinator

  • Service Coordinators Each Party has designated an employee or title as the key contact for the day-to-day implementation or monitoring of each Service as specified in the applicable Transition Service Schedule (each, a “Service Coordinator”). The Parties shall direct communications relating to specific Services to the applicable Service Coordinators. The Service Coordinators shall report to the Transition Committee from time to time, as directed by the members of the Transition Committee designated by the applicable Party.

  • Duties of Custodian with Respect to the Books of Account and Calculation of Net Asset Value and Net Income The Custodian shall cooperate with and supply necessary information to the entity or entities appointed by the applicable Board to keep the books of account of each Portfolio and/or compute the net asset value per Share of the outstanding Shares or, if directed in writing to do so by a Fund on behalf of a Portfolio, shall itself keep such books of account and/or compute such net asset value per Share. If so directed, the Custodian shall also calculate daily the net income of the Portfolio as described in the Prospectus and shall advise the Fund and the Transfer Agent daily of the total amounts of such net income and, if instructed in writing by an officer of the Fund to do so, shall advise the Transfer Agent periodically of the division of such net income among its various components. Each Fund acknowledges and agrees that, with respect to investments maintained with the Underlying Transfer Agent, the Underlying Transfer Agent is the sole source of information on the number of shares of a fund held by it on behalf of a Portfolio and that the Custodian has the right to rely on holdings information furnished by the Underlying Transfer Agent to the Custodian in performing its duties under this Agreement, including without limitation, the duties set forth in this Section 10 and in Section 11 hereof; provided, however, that the Custodian shall be obligated to reconcile information as to purchases and sales of Underlying Shares contained in trade instructions and confirmations received by the Custodian and to report promptly any discrepancies to the Underlying Transfer Agent. The calculations of the net asset value per Share and the daily income of each Portfolio shall be made at the time or times described from time to time in the Prospectus. Each Fund acknowledges that, in keeping the books of account of the Portfolio and/or making the calculations described herein with respect to Portfolio property released and delivered pursuant to Section 2.2(14), or purchased pursuant to Section 2.6(7) hereof, the Custodian is authorized and instructed to rely upon information provided to it by the Fund, the Fund’s counterparty(ies), or the agents of either of them.

  • Project Coordinator The Project Coordinator coordinates and manages the Project and represents the Participants before Stichting LSH-TKI. Participants appoint [Participant] as Project Coordinator and authorize Mr/Mrs ……….. to carry out the tasks set forth under this Section 6.7 and Section 6.8. In particular, the Project Coordinator shall be responsible for: preparing the meetings, proposing decisions and preparing the agenda of Project Committee chairing the meetings, preparing the minutes of the meetings and monitoring the implementation of decisions taken at meetings; monitoring compliance by the Participants with their obligations; keeping the address list of Members and other contact persons updated and available; collecting and reviewing information on the progress of the Project and submitting outline scientific reports and other deliverables (including financial statements and related certification), if required, to Stichting LSH-TKI and other Participants; transmitting promptly documents and information connected with the Project; administration of the Budget and fulfilling the financial tasks, all as described in Article 7; providing, upon request, the Participants with official copies or originals of documents which are in the sole possession of the Project Coordinator when such copies or originals are necessary for the Participants to present claims. The Project Coordinator shall not be entitled to act or to make legally binding declarations on behalf of any other Participant.

  • Determinations and Actions by the Board of Directors The Board of Directors of the Company shall have the exclusive power and authority to administer this Agreement and to exercise the rights and powers specifically granted to the Board of Directors of the Company or to the Company, or as may be necessary or advisable in the administration of this Agreement, including, without limitation, the right and power to (i) interpret the provisions of this Agreement and (ii) make all determinations deemed necessary or advisable for the administration of this Agreement (including, without limitation, a determination to redeem or not redeem the Rights or to amend this Agreement). All such actions, calculations, interpretations and determinations (including, for purposes of clause (y) below, all omissions with respect to the foregoing) that are done or made by the Board of Directors of the Company in good faith, shall (x) be final, conclusive and binding on the Company, the Rights Agent, the holders of the Rights, as such, and all other parties, and (y) not subject the Board of Directors to any liability to the holders of the Rights.

  • Determinations and Actions by the Board of Directors, etc For all purposes of this Agreement, any calculation of the number of Common Shares outstanding at any particular time, including for purposes of determining the particular percentage of such outstanding Common Shares of which any Person is the Beneficial Owner, shall be made in accordance with the last sentence of Rule 13d-3(d)(1)(i) of the General Rules and Regulations under the Exchange Act. The Board of Directors of the Company shall have the exclusive power and authority to administer this Agreement and to exercise all rights and powers specifically granted to the Board, or the Company, or as may be necessary or advisable in the administration of this Agreement, including, without limitation, the right and power to (i) interpret the provisions of this Agreement and (ii) make all determinations deemed necessary or advisable for the administration of this Agreement (including a determination to redeem or not redeem the Rights or to amend the Agreement). All such actions, calculations, interpretations and determinations (including, for purposes of clause (y) below, all omissions with respect to the foregoing) which are done or made by the Board in good faith, shall (x) be final, conclusive and binding on the Company, the Rights Agent, the holders of the Rights Certificates and all other parties and (y) not subject the Board to any liability to the holders of the Rights.