Common use of Pooled Fund Clause in Contracts

Pooled Fund. Overspend and underspend procedures 9.5.1 Subject to Clauses xxxx and xxxx, the HCICB shall manage expenditure from the Pooled Fund within the Financial Contributions and shall ensure that the expenditure is limited to Permitted Expenditure. 9.5.2 The Council as the host organisation of the Pooled Fund shall not be in breach of its obligations under this Agreement if an Overspend occurs provided that the only expenditure from the Pooled Fund has been in accordance with Permitted Expenditure and it has informed the HCICB in accordance with Clause 8.5.4. 9.5.3 In the event that the DIC or any Pooled Service Budget Manager identifies an actual or projected variation then they must ensure that the HCICB is informed as soon as reasonably possible and the provisions of the relevant Service Specification are applied and that the shared financial governance arrangements set out in Schedule 4 shall apply.