Common use of THE PROJECT AND THE GRANT Clause in Contracts

THE PROJECT AND THE GRANT. ‌ 2.1. The Grantee shall use its best efforts to implement the Project in accordance with the provisions of this Agreement. 2.2. Subject to availability of co-financing as set out in Commitment Letters issued by the Project Partners to NDF, NDF undertakes to make available to the Grantee for the implementation of the Project the Grant in an amount of up to EUR [amount in figures] ([amount in letters] Euros). 2.3. The total amount of the Grant does not exceed [percentage to be filled in] % of the final realised costs (without profits) for the Project, including such reasonable Taxes as are levied under applicable laws (in case of such excess occurring during the implementation of the Project, the final Disbursement(s) of the Grant will be correspondingly reduced). 2.4. The Start Date for the Project is the [●] of [●], 20[●] [date to be filled in]. The Closing Date of the Grant is the [●] of [●], 20[●] [date to be filled in] or such later date as NDF shall establish. The Grantee may, however, apply for an extension of the Closing Date. NDF’s consent to such justified application shall not be unreasonably withheld. 2.5. The proceeds of the Grant shall be used solely for covering Eligible Expenditures. 2.6. Any such goods, works and services shall be procured in a manner aiming to achieve best possible economy, efficiency and quality and by using procurement methods set out in the Project Implementation Manual. 2.7. When proceeds of the Grant are used to cover costs of goods, works or services provided by the Grantee or by any other Project Partner, or by a supplier, contractor, service provider or consultant that has business, family or other relation to the Grantee or any other Project Partner, the price of such goods, works or services to be covered by the Grant shall not give raise to profits and shall therefore be reasonably below fair market prices. 2.8. In accordance with the provisions in the Project Implementation Manual and Annex 3 (Budget Summary), the Grant may be used for the payment of reasonable Taxes related to the Project implementation. 2.9. NDF shall open and maintain on its books a record in the Grantee’s name showing any Disbursements of the Grant, the computation and payment of charges, commissions, fees and other amounts due and sums paid thereunder. Such account shall be final, conclusive and binding on the Grantee, unless shown by the Grantee to the satisfaction of NDF, to contain a manifest clerical error. 2.10. Any amount of the Grant for which NDF has not received a request for Disbursement by the Disbursement Deadline Date, will be irrevocably cancelled by NDF.

THE PROJECT AND THE GRANT. ‌ 2.1. The Grantee shall use its best efforts to implement the Project in accordance with the provisions of this Agreement. 2.2. Subject to availability of co-financing as set out in Commitment Letters issued by the Project Partners to NDF, NDF undertakes to make available to the Grantee for the implementation of the Project the Grant in an amount of up to EUR [amount in figures] ([amount in letters] letters Euros). 2.3. The total amount of the Grant does not exceed [percentage to be filled in] % of the final realised realized costs (without profits) for the Project, including such reasonable Taxes as are levied under applicable laws (in case of such excess occurring during the implementation of the Project, the final Disbursement(s) of the Grant will be correspondingly reduced). 2.4. The Start Date for the Project is the [●] of [●], 20[●] [date to be filled in]. The Closing Date of the Grant is the [●] of [●], 20[●] [date to be filled in] or such later date as NDF shall establish. The Grantee may, however, apply for an extension of the Closing Date. NDF’s consent to such justified application shall not be unreasonably withheld. 2.5. The proceeds of the Grant shall be used solely for covering Eligible Expenditures. 2.6. Any such goods, works and services shall be procured in a manner aiming to achieve best possible economy, efficiency and quality and by using procurement methods set out in the Project Implementation Manual. 2.7. When proceeds of the Grant are used to cover costs of goods, works or services provided by the Grantee or by any other Project Partner, or by a supplier, contractor, service provider or consultant that has business, family or other relation to the Grantee or any other Project Partner, the price of such goods, works or services to be covered by the Grant shall not give raise to profits and shall therefore be reasonably below fair market prices. 2.8. In accordance with the provisions in the Project Implementation Manual and Annex 3 (Budget Summary), the Grant may be used for the payment of reasonable Taxes related to the Project implementation. 2.9. NDF shall open and maintain on its books a record in the Grantee’s name showing any Disbursements of the Grant, the computation and payment of charges, commissions, fees and other amounts due and sums paid thereunder. Such account shall be final, conclusive and binding on the Grantee, unless shown by the Grantee to the satisfaction of NDF, to contain a manifest clerical error. 2.10. Any amount of the Grant for which NDF has not received a request for Disbursement by the Disbursement Deadline Date, will be irrevocably cancelled by NDF.