DIRECT AND INDIRECT COSTS Sample Clauses

DIRECT AND INDIRECT COSTS. Costs shall be charged to the Operating Account using consistent methods from Year to Year, and such methods shall be agreed upon by the Parties subject to the following principles: (a) costs that may be directly charged to a relevant subdivision of the Operating Account shall be so charged; and (b) costs that cannot easily be charged directly to any subdivision of the Operating Account shall be apportioned either on a time basis or on a pro rata basis. Costs of services that cannot be assessed accurately may be charged according to standard rates and adjusted to actual costs at Year end.

DIRECT AND INDIRECT COSTS. 5.1 Costs and Expenses for the Collaborative Research

DIRECT AND INDIRECT COSTS. Any DOTD direct or indirect costs associated with this Project may be charged to this Project. If the Entity is indicated in the Responsibility Table as being responsible for a Stage/Phase, the Entity may be eligible for reimbursement of direct and/or indirect costs incurred related to administration of the contract for such Stage/Phase. Per 2 CFR 200, an Entity must establish and maintain effective internal controls over Federal award to provide reasonable assurance that awards are being managed in compliance with federal laws and regulations. The Entity must verify this to DOTD by completing and signing the Risk Assessment form. The Entity’s failure to comply with these requirements may result in Agreement termination. As per 2 CFR 200 the Entity may receive indirect costs if it has a financial tracking system that can track direct costs incurred by the project. An Entity that has never received a negotiated indirect cost rate may elect to charge a de minimis rate of 10% of modified total direct costs as per 2CFR 200.68 Modified Total Direct Cost (MTDC). If chosen, this methodology once elected must be used consistently for all Federal awards until such time as the Entity chooses to negotiate for a rate, which the Entity may apply to do at any time. Allowable direct and indirect costs: Determination of allowable direct and indirect costs will be made in accordance with the applicable Federal cost principles, e.g. 2 C.F.R. Part 200 Subpart E. Disallowed direct and indirect costs: Those charges determined to not be allowed in accordance with the applicable Federal cost principles or other conditions contained in this Agreement.

DIRECT AND INDIRECT COSTS. Costs allowable under this Agreement are based on the Project and budget and shall be consistent with Awardee’s policies. The Award Funds may be used for direct expenses such as personnel, cost for using existing hardware, existing pilot plant or existing laboratory infrastructure, necessary travel (coach class), supplies, new equipment if specified in Exhibit A, contracted services, sub-grants, and consultants. The Award Funds may be used to pay any indirect costs so long as the aggregate amount of indirect costs does not exceed 6% of the total Award Funds. Indirect costs are defined as (1) overhead expenses incurred as a result of the Project, but that are not easily identifiable with the Project and (2) administrative expenses that are related to overall general operations and are shared among projects and/or functions. Examples of indirect costs include, but are not limited to, rent, insurance, gas, and electricity.

DIRECT AND INDIRECT COSTS. Any DOTD direct or indirect costs associated with this Project may be charged to this Project. The MPO may be eligible for reimbursement of direct and/or indirect costs incurred related to administration of the Project. Per 2 CFR 200, an MPO must establish and maintain effective internal controls over Federal award to provide reasonable assurance that awards are being managed in compliance with federal laws and regulations. The MPO must verify this to DOTD by completing and signing the Risk Assessment form. The MPO’s failure to comply with these requirements may result in Agreement termination. As per 2 CFR 200 the MPO may receive indirect costs if it has a financial tracking system that can track direct costs incurred by the project. An MPO that has never received a negotiated indirect cost rate may elect to charge a de minimis rate of 10% of modified total direct costs as per 2CFR 200.68 Modified Total Direct Cost (MTDC). If chosen, this methodology once elected must be used consistently for all Federal awards until such time as the MPO chooses to negotiate for a rate, which the MPO may apply to do at any time. Allowable direct and indirect costs: Determination of allowable direct and indirect costs will be made in accordance with the applicable Federal cost principles, e.g. 2 C.F.R. Part 200 Subpart E. Disallowed direct and indirect costs: Those charges determined to not be allowed in accordance with the applicable Federal cost principles or other conditions contained in this Agreement.

DIRECT AND INDIRECT COSTS. 22.6.1 All Direct Costs of the Joint Operation shall be charged to the Parties in the same proportion that the production is allocated after royalties. 22.6.2 Indirect Costs shall be charged to the Parties in the same proportion that has been established for Direct Costs in Item 22.6.1 of this Clause. The amount of such costs shall be the result of applying equation a + m (X-b) to the total annual value of investments and Direct Costs (excepting technical and administrative support). In such equation, "X" is the total value for investments and annual expenses and "a", "m", and "b" are constants whose values are indicated in the following table in relation with the amount of investments and annual expenses:

DIRECT AND INDIRECT COSTS. 22.6.1 All Direct Costs of the Joint Operation shall be charged to the Parties in the same proportion that the production is allocated after royalties. 22.6.2 Indirect Costs shall be charged to the Parties in the same proportion that has been established for Direct Costs in Item 22.6.1 of this Clause. The amount of such costs shall be the result of taking the total annual investment value and direct expenses (excepting technical and administrative support) and applying the equation "a + m EMPRESA COLOMBIANA DE PETROLEOS ECOPETROL RIO XXXXXXXXX ASSOCIATION CONTRACT Pag. 37 (X-b)" In such equation, "X" is the total value for investments and annual expenses and "a", "m", and "b" are constants whose values are indicated in the following table in relation with the amount of investments and annual expenses: INVESTMENT AND EXPENSES VALUE OF THE CONSTANTS "X"(US$) "a"(US$) m(fracc.) "b"(US$) 1. 0 to 25.000.000 0 0.10 0 2. 25.000.001 to 50.000.000 2.500.000 0.08 25.000.000 3. 50.000.001 to 100.000.000 4.500.000 0.07 50.000.000 4. 100.000.001 to 200.000.000 8.000.000 0.06 100.000.000 5. 200.000.001 to 300.000.000 14.000.000 0.04 200.000.000 6. 300.000.001 to 400.000.000 18.000.000 0.02 300.000.000 7. 400.000.001 and over 20.000.000 0.01 400.000.000 The equation will be applied once a year in each case with the value of the constants corresponding to the total value of annual investments and expenses.

DIRECT AND INDIRECT COSTS. 1. Direct costs of the SVRP, CSIP and SRDF are costs which can be tracked as costs of these particular activities through invoices, time cards, record keeping systems, and other records that specifically allocate a cost to these activities. Indirect costs are all other costs incurred by PCA in order to manage, maintain, support, and operate the SVRP or the CSIP. 2. PCA shall implement the accounting system described in Section 8.01 to uniformly identify and allocate all direct and indirect costs for the SVRP and the CSIP and for all the PCA's other activities. PCA shall identify the specific functions that are typically considered administrative or support in nature. These functions or departments shall include Human Resources, Finance, Administration, Information Technology, and Safety. The annual budgeted costs of these functions will be allocated proportionally to all operational activities based on a percentage relational to the services provided to SVRP, CSIP, SRDF and all other PCA activities. A sample overview is provided in Exhibit K. The budgets associated with the administrative or support functions will not be directly charged to the SVRP, SRDF, or CSIP. PCA will make reasonable efforts to maximize the extent to which costs to be paid by WRA can be identified as direct costs rather than as indirect costs. 3. For purposes of allocating indirect costs, PCA will not include as a direct cost the debt service (principle and interest) on the loans obtained for the project. 4. PCA and WRA retain the right to transition from the cost allocation plan identified in 8.02

DIRECT AND INDIRECT COSTS. 22.6.1 All Direct Costs of the Joint Operation shall be charged to the Parties in the same proportion that the production is allocated after royalties. 22.6.2 Indirect Costs shall be charged to the Parties in the same proportion that has been established for Direct Costs in Item INVESTMENT AND EXPENSES VALUE OF THE CONSTANTS “X” (US$) “a” (US$) m (fracc.) “b” (US$)

DIRECT AND INDIRECT COSTS. Costs allowable under this Agreement are based on the Project and budget and shall be consistent with Awardee’s policies. The Award Funds may be used for direct expenses such as personnel, cost for using existing hardware, existing pilot plant or existing laboratory infrastructure, necessary travel (coach class), supplies, new equipment if specified in Exhibit A, contracted services, sub-grants, and consultants. Award funds to be included into the budget also allow for 50% of necessary and reasonable travel expenses for up to a 3 night stay for one person, to participate in a Keynote and Networking event at IFT’s FIRST event in Chicago. The Award Funds may be used to pay any indirect costs so long as the aggregate amount of indirect costs does not exceed 6% of the total Award Funds. Indirect costs are defined as (1) overhead expenses incurred as a result of the Project, but that are not easily identifiable with the Project and (2) administrative expenses that are related to overall general operations and are shared among projects and/or functions. Examples of indirect costs include, but are not limited to, rent, insurance, gas, and electricity.