Common use of Progress and Financial Reports Clause in Contracts

Progress and Financial Reports. 1. The Project Promoter shall submit the Project Interim Report within 15 working days from the end of each Reporting Period. With this regard the Project Partner shall submit all documents in line with Article 8 of this Agreement to the Project Promoter within at latest 7 working days from the end of each Reporting Period. 2. The first Reporting Period is a period of 4 months following the first day of the month in which the Project Contract has entered into force. The Project Promoter shall provide the Project Partner with the respective date. 3. The length of the following Reporting Periods is the same /the four months/ unless they are merged. Expenditure incurred prior the entry into force of the Project Contract shall be included in the first month of the first Reporting Period. Merger of the Reporting Periods may occur in particular if the complete Project Interim Report has not been delivered within the set deadline, if the Project Interim Report has been rejected or its approval has been suspended and in other similar cases. The Project Interim Report covering December is considered Annual Project Report. 4. After the end of the Reporting Period, the Project Promoter shall account for the provided advance/interim payment through the Project Interim Report. 5. The Final Project Report shall be submitted by the Project Promoter within thirty (30) working days of the elapse of the relevant Reporting Period.

Progress and Financial Reports. 1. The Project Promoter shall submit the Project Interim Report within 15 working days from the end of each Reporting Period. With this regard the Project Partner shall submit all documents in line with Article 8 of this Agreement to the Project Promoter within at latest 7 working days from the end of each Reporting Period. 2. The first Reporting Period is a period of 4 months following the first day of the month in which the Project Contract has entered into force. The Project Promoter shall provide the Project Partner with the respective date. 3. The length of the following Reporting Periods is the same /the four months/ unless they are merged. Expenditure incurred prior the entry into force of the Project Contract shall be included in the first month of the first Reporting Period. Merger of the Reporting Periods may occur in particular if the complete Project Interim Report has not been delivered within the set deadline, if the Project Interim Report has been rejected or its approval has been suspended and in other similar cases. The Project Interim Report covering December is considered Annual Project Report. 4. After the end of the Reporting Period, the Project Promoter shall account for the provided advance/interim payment through the Project Interim Report. 5. The Final Project Report shall be submitted by the Project Promoter within thirty (30) working days of the elapse of the relevant Reporting Period.