In duly justified cases the beneficiary may terminate the Agreement by formally notifying the NA thereof, stating clearly the reasons and specifying the date on which the termination shall take effect. The notification shall be sent before the termination is due to take effect. If no reasons are given or if the NA considers that the reasons exposed cannot justify the termination, it shall formally notify the beneficiary, specifying the grounds thereof, and the Agreement shall be deemed to have been terminated improperly, with the consequences set out in the third subparagraph of Article II.15.3. Termination of the Agreement by the NA II.15.2.1 The NA may decide to terminate the Agreement in the following circumstances: if a change to the organisational or beneficiary’s legal, financial, technical, ownership situation is likely to affect the implementation of the Agreement substantially or calls into question the decision to award the grant; if the beneficiary does not implement the Project as specified in Annex I or fails to comply with another substantial obligation incumbent on it under the terms of the Agreement; in the event of notified in accordance with Article II.13, or in the force majeure, event of suspension by the beneficiary as a result of exceptional circumstances, notified in accordance with Article II.14, where resuming the implementation is impossible or where the necessary modifications to the Agreement would call into question the decision awarding the grant or would result in unequal treatment of applicants; if the beneficiary is declared bankrupt, is being wound up, is having its affairs administered by the courts, has entered into an arrangement with creditors, has suspended business activities, is the subject of any other similar proceedings concerning those matters, or is in an analogous situation arising from a similar procedure provided for in national legislation or regulations; if the beneficiary or any related person, as defined in the second subparagraph, have been found guilty of professional misconduct proven by any means; if the beneficiary is not in compliance with its obligations relating to the payment of social security contributions or the payment of taxes in accordance with the legal provisions of the country in which it is established or in which the Project is implemented;
In duly justified cases the beneficiary may terminate the Agreement by formally notifying the NA thereof, stating clearly the reasons and specifying the date on which the termination shall take effect. The notification shall be sent before the termination is due to take effect. If no reasons are given or if the NA considers that the reasons exposed cannot justify the termination, it shall formally notify the beneficiary, specifying the grounds thereof, and the Agreement shall be deemed to have been terminated improperly, with the consequences set out in the third subparagraph of Article II.15.3. Termination of the Agreement by the NA II.15.2.1 The NA may decide to terminate the Agreement in the following circumstances: if a change to the beneficiary’s legal, financial, technical, organisational or ownership situation is likely to affect the implementation of the Agreement substantially or calls into question the decision to award the grant; if the beneficiary does not implement the Project as specified in Annex I or fails to comply with another substantial obligation incumbent on it under the terms of the Agreement; in the event of force majeure, notified in accordance with Article II.13, or in the event of suspension by the beneficiary as a result of exceptional circumstances, notified in accordance with Article II.14, where resuming the implementation is impossible or where the necessary modifications to the Agreement would call into question the decision awarding the grant or would result in unequal treatment of applicants; if the beneficiary is declared bankrupt, is being wound up, is having its affairs administered by the courts, has entered into an arrangement with creditors, has suspended business activities, is the subject of any other similar proceedings concerning those matters, or is in an analogous situation arising from a similar procedure provided for in national legislation or regulations; if the beneficiary or any related person, as defined in the second subparagraph, have been found guilty of professional misconduct proven by any means; if the beneficiary is not in compliance with its obligations relating to the payment of social security contributions or the payment of taxes in accordance with the legal provisions of the country in which it is established or in which the Project is implemented;
2015_monobeneficiary_GA.docx