Provision of Budget. Prior to the hiring of Employees for pre-production work, the Company shall submit a copy of the production budget to the Union.
Provision of Budget. The proposed budget for the Film is (Budget) as detailed on Schedule 1 and the Parties acknowledge that it shall be split as for the X Budget and for the Y’s Budget [reflecting the agreed work split of 75% Y and 25% X]. Each Party to provide funding of the Budget [ ] and to establish a Production Account, [ details] which funds shall be used solely for the production of the Film. For the avoidance of doubt, X shall remit the Budget and make payments pursuant to Production Contracts in Reais and Y shall remit the Budget and make payments pursuant to Production Contracts in . For Budget purposes and for purposes of calculating the Cost of Production the exchange rate shall be considered for all purposes as R$ 1,00 to be deemed equal to [ ] South African Rands. Each Party undertakes to provide or cause to be provided the amount equal to its Budget in accordance with the cashflow requirements by making available funds to its Production Account and to make available all facilities and/or services as are specified in this Agreement at the relevant location and in accordance with the Production Schedule on Schedule 2. If the Cost of Production of one Party’s Material exceeds its Budget the Party shall make available to its Production Account the amount of such excess required to complete the production of its Material in accordance with the Production Schedule.
Provision of Budget
