The total eligible costs’ are the consolidated total eligible costs approved by the ‘action’s Agency. The total receipts’ are the consolidated total receipts generated during its duration ‘action’s (see Article 3). The following are considered receipts: income generated by the action; financial contributions given by third parties to the beneficiary [or to an affiliated specifically to be used for costs that are eligible under the action. entity], The following are however not considered receipts: financial contributions by third parties, if they may be used to cover costs other than the eligible costs (see Article 6); financial contributions by third parties with no obligation to repay any amount unused at the end of the period set out in Article 3. If there is a profit, it will be deducted in proportion to the final rate of reimbursement of the eligible actual costs approved by the Agency (as compared to the amount calculated following Steps 1 and 2). 5.3.4 Step 4 Reduction due to improper implementation or breach of other — obligations Reduced grant amount Calculation — — If the grant is reduced (see Article 27), the Agency will calculate the reduced grant amount by deducting the amount of the reduction (calculated in proportion to the improper implementation of the action or to the seriousness of the breach of obligations in accordance with Article 27.2) from the maximum grant amount set out in Article 5.1. The final grant amount will be the lower of the following two: the amount obtained following Steps 1 to 3 or the reduced grant amount following Step 4. 5.4 Revised final grant amount Calculation — If after the payment of the balance (in particular, after checks, reviews, audits or — investigations; see Article 17) the Agency rejects costs (see Article 26) or reduces the grant — (see Article 27), it will calculate the final grant amount’ for the action. ‘revised
The ‘action’s total eligible costs’ are the consolidated total eligible costs approved by the Agency. The ‘action’s total receipts’ are the consolidated total receipts generated during its duration (see Article 3). The following are considered receipts: income generated by the action; financial contributions given by third parties to the beneficiary [or to an affiliated entity], specifically to be used for costs that are eligible under the action. The following are however not considered receipts: financial contributions by third parties, if they may be used to cover costs other than the eligible costs (see Article 6); financial contributions by third parties with no obligation to repay any amount unused at the end of the period set out in Article 3. If there is a profit, it will be deducted in proportion to the final rate of reimbursement of the eligible actual costs approved by the Agency (as compared to the amount calculated following Steps 1 and 2). 5.3.4 Step 4 — Reduction due to improper implementation or breach of other obligations — Reduced grant amount — Calculation If the grant is reduced (see Article 27), the Agency will calculate the reduced grant amount by deducting the amount of the reduction (calculated in proportion to the improper implementation of the action or to the seriousness of the breach of obligations in accordance with Article 27.2) from the maximum grant amount set out in Article 5.1. The final grant amount will be the lower of the following two: the amount obtained following Steps 1 to 3 or the reduced grant amount following Step 4. 5.4 Revised final grant amount — Calculation If — after the payment of the balance (in particular, after checks, reviews, audits or investigations; see Article 17) — the Agency rejects costs (see Article 26) or reduces the grant (see Article 27), it will calculate the ‘revised final grant amount’ for the action.
eweu_easme_model_grant_agreement_multi.docx