7. Article
If any of the conditions
justifying suspension of disbursements or reimbursement of funds
under Articles 6.1.1 or 6.2.1 apply, the NMFA may instruct the
Focal Point, that disbursed funds may not be used for any or all
of the subprojects to which such conditions apply, and/or for
management cost if the conditions relate to the role of the
Intermediary. The Focal Point shall ensure that the Intermediary
will act in compliance with such an instruction.
Article 3.3
Transfer and Use
of the Grant
1.The Focal Point shall ensure
that the Paying Authority, within fifteen working days of receipt
of the disbursement, transfers the disbursement to the
Intermediary. The NMFA shall be notified by e-mail before the
15th of each month of the transfers made in the
previous month. Such notification shall contain the amount
transferred, the name of the recipient, the FMO Fund number, and
the date of the transfer.
2.The Focal Point shall ensure
that the Intermediary will establish two accounts, one for
management costs and one for re-granting.
Article 3.4
Increased
cost
If the cost of the management of
the Fund should exceed the management cost stipulated in Article
2 paragraph 5 of the Grant Agreement, the Focal Point shall
ensure that the Intermediary obtains or provides any such
additional funds so as to ensure the full implementation of the
Fund.
Chapter 4
Obligations
related to the Implementation of the FUND
Article 4.1
Modification of
the Fund
asjoint-stocktax-authorityvid