Common use of Underspends Clause in Contracts

Underspends. Whenever an under spend is projected in any Pooled or Non-Pooled Fund the Authorities may agree to the redeployment of that underspend or that the money shall be retained as a contingency in the Pooled or Non-Pooled Funds where the under spending has occurred. In the event that agreement cannot be reached the under spend shall be retained as a contingency in the Pooled Fund.

Appears in 4 contracts

Sources: Collaboration Agreement, Collaboration Agreement, Collaboration Agreement