Overspend Clause Samples

Overspend. 1 The Integrated Care Partnership shall consider what action to take in respect of any actual or potential Overspends

Overspend. SpinCo shall promptly inform the Company in writing upon SpinCo determining that it is reasonably likely to overspend by more than [***] of the Budgeted Amounts for Out-of-Pocket Expenses for a calendar month with respect to the Funded SpinCo Activities, including Out-of-Pocket Expenses with respect to the conduct of any Post-Selection Enabling Activities (“Out of Budget Amounts”). Any Out of Budget Amounts shall be reimbursed by the Company pursuant to Section 4.2(c) to the extent such Out of Budget Amounts (i) are less than or equal to [***] of the Budgeted Amounts, and (ii) were not attributable to a failure by SpinCo to use Commercially Reasonable Efforts or the failure of SpinCo to adequately supervise a Third Party performing such activities or the negligence on the part of SpinCo with respect to such activity.

Overspend. If the Recovery Plan is unsuccessful and there are insufficient general fund reserves to fund a year end overspend, then the Parties have the option to:

Overspend. 7.1 Without prejudice to Clause 6, the Partners shall keep each other informed of the budgetary position and of any projection that the Pooled Fund will be insufficient to meet projected or actual expenditure in any current Financial Year (an “Overspend”) within five (5) Working Days of such projection being made. 7.2 Whenever an Overspend is projected, the Representatives of the Partners shall meet with the Pooled Fund Manager and discuss within a reasonable period of such Overspend being projected proposals for management of the Overspend. The Partners shall prepare a joint plan for the management of that projected overspend in order to achieve financial balance and the Partners shall keep the position under review. The Partners shall act in good faith and in a reasonable manner in agreeing the management of the Overspend. 7.3 If, notwithstanding the provisions of Clause 7.2, there is an Overspend at the end of the Financial Year the Representatives of the Partners shall meet with the Pooled Fund Manager and identify the reasons for the Overspend and must demonstrate that the Overspend was projected at the earliest opportunity and that all reasonable endeavours have been made to rectify such Overspend. 7.4 The Partners shall meet such Overspend in the percentages equal to their Financial Contributions.

Overspend. 16.1 If POV becomes aware that other than in relation to and arising from approved Additional Production Services, the total cost is likely to exceed the POV Budget POV shall forthwith: 16.1.1 prepare and submit to PEAK a full statement of account containing details of costs incurred but not yet paid for and an estimate of costs likely to be incurred to complete the rendition of the Production Services; 16.1.2 submit detailed proposals for reducing the cost of the items allowed for in POV Budget; 16.1.3 comply with any reasonable directions given by PEAK to reduce any expense. 16.2 If, following the procedures set out above, there shall continue to be overspend or likely overspend, then POV shall be solely responsible for and pay for all such overspend unless the overspend was due to events or circumstances entirely outside the control of POV and POV has complied with Clause 16.1 in which event PEAK shall pay for any such overspend, or shall be entitled to take-over or abandon production of the Programme in accordance with cause 15 hereof. 16.3 In the event that the Production Schedule is extended or delayed by reason of any default of POV, then POV shall pay or reimburse PEAK for all additional costs reasonably incurred by PEAK as a direct result thereof. Any amounts so payable shall be paid promptly on presentation of an invoice.

Overspend. The financial treatment of overspends has been outlined in Schedule 1 under Finance Governance Arrangements, the additional actions below act as guidelines when considering overspends:

Overspend. 5 The Better Care Fund Programme Board shall consider what action to take in respect of any actual or potential Overspends.

Overspend. The Partnership Board shall consider what action to take in respect of any actual or potential Overspends The Partnership Board shall acting reasonably having taken into consideration all relevant factors including, where appropriate the Better Care Fund Plan and any agreed outcomes and any other budgetary constraints agree appropriate action in relation to Overspends which may include the following: whether there is any action that can be taken in order to contain expenditure; whether there are any underspends that can be vired from any other fund maintained under this Agreement; how any Overspend shall be apportioned between the Partners, such apportionment to be just and equitable taking into consideration all relevant factors. The Partners agree to co-operate fully in order to establish an agreed position in relation to any Overspends. Overspends which occur in relation to any [insert reference to any locally agreed performance arrangements] shall be subject to alternative provisions in the relevant [insert reference to any locally agreed performance arrangements], be apportioned between the Partners pro rata to the value of their respective Financial Contributions [excluding Non-Recurrent Payments] for the Financial Year in respect of which the Overspend occurs. Where is an overspend in a Non Pooled Fund at the end of the Financial Year or at termination of the Agreement such overspend shall be met by the Partner whose financial contributions to the relevant Non Pooled Fund were intended to meet the expenditure to which the overspend relates save to the extent that such overspend is not the fault of the other Partner. Subject to any continuing obligations under any Service Contract entered into by either Partner, either Partner may give notice to terminate a Service of Individual Scheme where the Scheme Specification provides and where the Service does not form part of the Better Care Fund Plan.