VERIFICATION OF EXPENDITURE Clause Samples

VERIFICATION OF EXPENDITURE. Article 6.1. In order to justify the expenditure incurred and to request interim payments, the Project Promoter shall submit to the Programme Operator intermediate reports/final report drawn up in the format communicated by the Programme Operator (according to Annex 1, 2 and 3 of this document), accompanied by the procurement files, where applicable, and the supporting documents requested relating to the expenditure declared under it.
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VERIFICATION OF EXPENDITURE. The Lead Partner shall submit to the relevant controller partial progress report for the implementation of its own part of the project with attachments within the time limits and in accordance with the rules referred to in § 22 and the Programme Manual. The Controller shall verify the partial progress report and the eligibility of the expenditure declared therein. This verification shall be carried out in accordance with the rules, guidelines or procedures established in the Member State concerned, taking into account the Programme rules. The verification of the Lead Partner's expenditure shall be carried out on the basis of the data contained in the partial progress report and the documents provided by the Lead Partner. If, during the verification of the partial progress report, the Controller finds that the national or European Union rules or project implementation rules referred to in the Programme Manual have been breached, they may consider the relevant expenditure in whole or in part as irregularly incurred and reduce the partial progress report accordingly. This shall also apply to expenditure incurred prior to signing the Grant Contract. In the case of expenditure incurred in breach of public procurement rules or without respecting the principle of competition, it shall be determined in accordance with the national rules or principles. If in a given Member State there are no rules or principles which determine the amount of expenditure incurred in violation of public procurement or principle of competition rules, the Controller shall apply the rates of financial correction specified in the Commission’s decision referred to in § 2(3)(b). The rules of procedure in the case of finding irregular expenditure are regulated by the Programme Manual or by national guidelines on the correction of expenditure and the imposition of financial corrections, if such guidelines exist in the Member State. The Controller shall communicate to the Lead Partner the result of the verification of the partial progress report in accordance with the rules that are set out in the Programme Manual.
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VERIFICATION OF EXPENDITURE. 1. Each project progress report and the final report submitted by the LP to the MA via the JS must be accompanied by certificates confirming the eligibility of expenditure, both at LP and PP level. Certificates attesting the validation of expenditure shall be issued by the national controllers as referred to art. 46 (3) of the Interreg Regulation according to the system set up by each programme participating country and in compliance with the legal framework in art. 1. 2. In case the LP or PP is located in a participating country where national control system is decentralized, the MA reserves the right, after the agreement with the national responsible institution, to request that the controller is replaced if considerations – unknown when the contract was signed with controller – cast doubts on the controller’s independence or professional standards. 3. Information on the controllers, including its coordinates updates, shall be notified by the LP on behalf of the project PPs to the MA via the JS in accordance with the rules of the Implementation Manual. 4. In line with Article 26 (1) (c) of Interreg Regulation the LP shall ensure that expenditure presented by other PPs has been verified by the appointed controllers and that corresponds to the agreed activities reported in the approved application form. 5. All expenditure shall be reported in Euro (EUR). Expenditure incurred by LP and PPs in a currency other than the EUR shall be automatically converted into EUR by JEMS by using the monthly accounting exchange rate of the European Commission in the month during which expenditure is submitted for verification to the national controller. 6. The exchange rate risk is borne by the concerned LP/PP.
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VERIFICATION OF EXPENDITURE. Article 6.1. In order to justify the expenditure incurred and to request interim payments/final payment, the Project Promoter shall submit to the Programme Operator intermediate reports/final report drawn up in the format communicated by the Programme Operator (according to Annex 1, 2 and 3 of this document), accompanied by the procurement files, where applicable, and the supporting documents requested relating to the expenditure declared under it. Article 6.2. The Project Promoter shall present all the supporting documents required in a cPOy, in paper and electronic form, with the indication ‘’true to the original’, signed and stamped by the legal representative or his authorized representative. Article 6.3. Invoices which will constitute supporting documents shall be issued by the suppliers/suppliers in the name of the Project Promoter and/or Project Partners, as appropriate. They will be marked/stamped by the Project Promoter and/or Project Partners, as appropriate, with the following: ’’passed for payment for the amount of …….’’, with the amount and date (year/month/day); with the mention ’’I certify as to reality, regularity and legality ’’; ’’Financed by the European Economic Area (EEA) Financial Mechanism 2014-2021, under contract No …’. Article 6.4. All supporting documents issued in a language other than Romanian or English shall be presented together with a translation thereof into Romanian or English by an authorized translator, certified by signature and stamp. Article 6.5. If submitted reports are not complete or require modifications, the Project Promoter shall be required to make the required additions and amendments and resubmit the reports within the deadlines set out in the notification.
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VERIFICATION OF EXPENDITURE. The Auditor verifies the expenditure and reports all the exceptions resulting from this verification. Verification exceptions are all verification deviations found when performing the procedures should be set out in an Annex to the Auditor's report. In all cases the Auditor assesses the (estimated) financial impact of exceptions in terms of ineligible expenditure. The Auditor reports all exceptions found including the ones of which he cannot measure the financial impact. Having selected the expenditure items the Auditor verifies them by testing for the criteria set out below.
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VERIFICATION OF EXPENDITURE. The Beneficiary shall submit to the relevant controller partial progress report for the implementation of the project with attachments in accordance with the rules referred to in § 22 and the Programme Manual. The Controller shall verify the partial request for payment and the eligibility of the expenditure declared therein. This verification shall be carried out in accordance with the rules, guidelines or procedures established in the state concerned and in accordance with the Programme rules. The verification of the Beneficiary's expenditure shall be carried out on the basis of the data contained in the request for payment and the documents provided by the Beneficiary. If, during the verification of the partial request for payment, the Controller finds that the national or European Union rules or project implementation rules referred to in the Programme Manual have been breached, they may consider the relevant expenditure in whole or in part as irregularly incurred and reduce the partial request for payment accordingly. This shall also apply to expenditure incurred prior to signing the Grant Contract. If in a given state of the Beneficiary there are no rules or principles which determine the amount of expenditure incurred in violation of public procurement or principle of competition rules, the Controller shall apply the rates of financial correction specified in the Commission’s decision referred to in § 2(3)(b). The rules of procedure in the case of finding irregular expenditure are regulated by the Programme Manual, Rules and procedures on management verifications in Interreg NEXT Poland – Ukraine 2021-2027 Programme, by national guidelines on the correction of expenditure and the imposition of financial corrections, if such guidelines exist. The Controller shall communicate to the Beneficiary the result of the verification of the partial progress report in accordance with the rules that are set out in the Programme Manual.
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VERIFICATION OF EXPENDITURE. Project promoters shall submit interim and final project reports containing information on project progress and incurred expenditure. In line with point i) of Article 5.6.2 of the Regulation incurred expenditure reported shall be subject to administrative verifications before the report is approved. Verifications to be carried out shall cover administrative, financial, technical and physical aspects of projects, as appropriate and be in accordance with the principle of proportionality. Additionally, in line with point ii) of Article 5.6.2 of the Regulation on–the-spot verifications of projects, which may be carried out on a sample basis, shall be carried out. The detailed procedure for verification will be further detailed in the description of the Programme Operator’s management and control systems.
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VERIFICATION OF EXPENDITURE. The SPF Beneficiary shall submit to the relevant Controller partial progress report for Small Project Fund, containing information about implementation of the project with attachments in accordance with the rules referred to in § 22 and the Programme Manual. The Controller shall verify the partial progress report for Small Project Fund and the eligibility of the expenditure declared therein. This verification shall be carried out in accordance with the rules, guidelines or procedures established in the state concerned and in accordance with the Programme rules. The verification of the SPF Beneficiary's expenditure shall be carried out on the basis of the data contained in the progress report for Small Project Fund and the documents provided by the SPF Beneficiary. If, during the verification of the partial progress report for Small Project Fund, the Controller finds that the national or European Union rules or project implementation rules referred to in the Programme Manual have been breached, they may consider the relevant expenditure in whole or in part as irregularly incurred and reduce the value of eligible expenditure in the partial progress report for Small Project Fund accordingly. This shall also apply to the expenditure incurred prior to signing the Grant Contract. The rules of procedure in the case of finding irregular expenditure are regulated by the Programme Manual, Rules and procedures on management verifications in Interreg NEXT Poland-Ukraine 2021-2027 Programme, by national guidelines on the correction of expenditure and the imposition of financial corrections, if such guidelines exist. The Controller shall communicate to the SPF Beneficiary the result of the verification of the partial progress report for Small Project Fund in accordance with the rules that are set out in the Programme Manual.
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VERIFICATION OF EXPENDITURE. 1. Each joint PPR submitted by the LP to the MA/JS must be accompanied by control certificates confirming the eligibility of expenditure at PP level, including LP, issued by national controllers as referred to in Article 46(3) of the Interreg Regulation, according to the system set up by each Partner State and in compliance with the requirements set by the legal framework listed in Article 1 of the Subsidy Contract. The PPs shall deliver all necessary documents in order to enable the LP to fulfil its obligations. To this end, the partnership may agree on internal rules and delivery procedures. 2. National controllers will base their work on the rules provided by each Partner State, if any, and/or the requirements set in the respective EU Regulations and in the Implementation Manual. 3. PPs from countries having a decentralised control system shall ensure that controllers have been selected in accordance with the system set up by each Partner State and they meet the requirements of qualification and independence presented in the Danube Control Guidelines, if the national rules require that the PPs are selecting the individual controller. Furthermore, these PPs acknowledge that the MA/JS reserves the right, after agreement with the national responsible institution, to require that the controller directly selected by a PP is replaced if considerations, which were unknown when the Subsidy Contract was signed, cast doubts on the controller’s independence or professional standards. 1 ▇▇▇▇://▇▇.▇▇▇▇▇▇.▇▇/budget/contracts_grants/info_contracts/inforeuro/inforeuro_en.cfm
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Related to VERIFICATION OF EXPENDITURE

  • Allocation of Expenses The provisions of this Section shall not affect any agreement that the Company and the Selling Shareholders may make for the sharing of such costs and expenses.

  • Procedure for Advance Payment of Expenses Indemnitee shall submit to the Company a written request specifying the Indemnifiable Expenses for which Indemnitee seeks an advancement under Section 8 of this Agreement, together with documentation evidencing that Indemnitee has incurred such Indemnifiable Expenses. Payment of Indemnifiable Expenses under Section 8 shall be made no later than ten (10) calendar days after the Company’s receipt of such request.

  • Payment of Expenses (a) Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company agrees to pay or cause to be paid all costs and expenses incident to the performance of its obligations hereunder except as otherwise agreed among the Company and the Representatives, including without limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and any taxes payable in that connection; (ii) the costs incident to the preparation, printing and filing under the Securities Act of the Registration Statement, the Preliminary Prospectus, any Issuer Free Writing Prospectus, any Time of Sale Information and the Prospectus (including all exhibits, amendments and supplements thereto) and the distribution thereof; (iii) the costs of reproducing and distributing each of the Transaction Documents; (iv) the fees and expenses of the Company’s counsel and independent accountants; (v) the fees and expenses incurred in connection with the registration or qualification and determination of eligibility for investment of the Securities under the laws of such jurisdictions as the Representatives may designate and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses of counsel for the Underwriters); (vi) any fees charged by rating agencies for rating the Securities; (vii) the fees and expenses of the Trustee and any paying agent (including related fees and expenses of any counsel to such parties); (viii) all expenses and application fees incurred in connection with any filing with, and clearance of the offering by, the Financial Industry Regulatory Authority, and the approval of the Securities for book-entry transfer by DTC; and (ix) all expenses incurred by the Company in connection with any “road show” presentation to potential investors. (b) If (i) this Agreement is terminated pursuant to Section 9, (ii) the Company for any reason fails to tender the Securities for delivery to the Underwriters consistent with the terms of the Indenture or (iii) the Underwriters decline to purchase the Securities for any reason permitted under this Agreement, the Company agrees to reimburse the Underwriters for all reasonable out-of-pocket costs and expenses (including the reasonable fees and expenses of their counsel) incurred by the Underwriters in connection with this Agreement and the offering contemplated hereby.

  • Mandatory Advancement of Expenses If requested by Indemnitee, the Company shall advance prior to the final disposition of the Proceeding all Expenses reasonably incurred by Indemnitee in connection with (including in preparation for) a Proceeding related to an Indemnifiable Event within (30) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee. The right to advances under this section shall in all events continue until final disposition of any Proceeding, including any appeal therein. Indemnitee hereby undertakes to repay such amounts advanced if, and only if and to the extent that, it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Company’s Bylaws or the DGCL, and no additional form of undertaking with respect to such obligation to repay shall be required. Indemnitee’s undertaking to repay any Expenses advanced to Indemnitee hereunder shall be unsecured and shall not be subject to the accrual or payment of any interest thereon. In the event that Indemnitee’s request for the advancement of expenses shall be accompanied by an affidavit of counsel to Indemnitee to the effect that such counsel has reviewed such Expenses and that such Expenses are reasonable in such counsel’s view, then such expenses shall be deemed reasonable in the absence of clear and convincing evidence to the contrary.

  • Payment of Expenses, etc The Borrower agrees to: (i) pay all reasonable out-of-pocket costs and expenses (A) of the Administrative Agent in connection with the negotiation, preparation, execution and delivery and administration of this Credit Agreement and the other Credit Documents and the documents and instruments referred to therein (including, without limitation, the reasonable fees and expenses of ▇▇▇▇▇ & ▇▇▇ ▇▇▇▇▇, PLLC, special counsel to the Administrative Agent) and any amendment, waiver or consent relating hereto and thereto including, but not limited to, any such amendments, waivers or consents resulting from or related to any work-out, renegotiation or restructure relating to the performance by the Credit Parties under this Credit Agreement and (B) of the Administrative Agent and the Lenders in connection with enforcement of the Credit Documents and the documents and instruments referred to therein (including, without limitation, in connection with any such enforcement, the reasonable fees and disbursements of counsel for the Administrative Agent and each of the Lenders); (ii) pay and hold each of the Lenders harmless from and against any and all present and future stamp and other similar taxes with respect to the foregoing matters and save each of the Lenders harmless from and against any and all liabilities with respect to or resulting from any delay or omission (other than to the extent attributable to such Lender) to pay such taxes; and (iii) indemnify each Lender, its officers, directors, employees, representatives and Administrative Agents from and hold each of them harmless against any and all losses, liabilities, claims, damages or expenses incurred by any of them as a result of, or arising out of, or in any way related to, or by reason of (A) any investigation, litigation or other proceeding (whether or not any Lender is a party thereto) related to the entering into and/or performance of any Credit Document or the use of proceeds of any Loans (including other extensions of credit) hereunder or the consummation of any other transactions contemplated in any Credit Document, including, without limitation, the reasonable fees and disbursements of counsel incurred in connection with any such investigation, litigation or other proceeding or (B) the presence or Release of any Materials of Environmental Concern at, under or from any Property owned, operated or leased by the Borrower or any of its Subsidiaries, or the failure by the Borrower or any of its Subsidiaries to comply with any Environmental Law (but excluding, in the case of either of clause (A) or (B) above, any such losses, liabilities, claims, damages or expenses to the extent incurred by reason of gross negligence or willful misconduct on the part of the Person to be indemnified).