Sharing of Costs and Revenues Sample Clauses
The SHARING OF COSTS AND REVENUES clause defines how expenses and income generated from a joint project or partnership will be distributed among the involved parties. Typically, this clause outlines the specific percentages or formulas used to allocate both costs incurred and revenues earned, and may address timing, reporting, and adjustments for over- or under-payments. Its core function is to ensure transparency and fairness in financial dealings, preventing disputes by clearly setting expectations for each party’s financial responsibilities and entitlements.
Sharing of Costs and Revenues. During the construction and operation of the Fixed Link, the Concessionaires shall apply the principle of equal sharing of the cost price and of all other expenses and revenues between the British Undertaking and the French Undertaking. For this purpose, where any indirect tax is charged on the supply of goods or services and is not repaid or otherwise relieved, the effects of such indirect taxation shall be included in the calculation of costs to be equally shared pursuant to this Clause.
Sharing of Costs and Revenues