Common use of Administrative Cost and Fee Recovery Clause in Contracts

Administrative Cost and Fee Recovery. 3.1 In order to assist in the defrayment of the costs of administration and other expenses incurred by the Bank under this Agreement, the Bank may deduct and retain for its own account an amount equal to one percent (1%) of each Contribution. In addition, costs for program management and Trust Fund administration expenses will be charged to the Trust Fund on an actual basis. If the contributions increase beyond what was originally expected at the time of counter-signature of the first administration agreement/arrangement, and the administrative costs increase as a result, the Contributors acknowledge that an additional administrative fee may be applied to such new contributions.