Common use of Underspends Clause in Contracts

Underspends. The Pooled Fund Manager shall at all times keep the Partners informed of any anticipated under-spend. In the event of an anticipated under-spend the Partners may agree to the redeployment of that under-spend or that the money shall be retained as a contingency in the Pooled Fund. In the event that agreement cannot be reached the money shall be retained as an under-spend.

Appears in 2 contracts

Sources: Partnership Agreement, Partnership Agreement