Total Contribution. It is acknowledged and agreed by the Councils that the discharge of the Councils' obligations in relation to the City Deal pursuant to this Agreement shall be funded as follows: (a) up to £375,000,000 (three hundred and seventy five million pounds) from HMT ("HMT Contribution"); (b) up to £120,000,000 (one hundred and twenty million pounds) in aggregate from the Councils ("Councils' Contribution") and the Councils agree and acknowledge that such Councils' Contributions shall be subject to additional costs up to the Affordability Envelope (as such costs are defined therein); and (c) each Council's contribution towards the Annual Budget, on a Proportionate Basis, pursuant to Clause 12.4 (Annual Budget).
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Sources: Joint Working Agreement, Joint Working Agreement, Joint Working Agreement