Common use of FINANCIAL ASPECTS Clause in Contracts

FINANCIAL ASPECTS. Subject to this paragraph, all income related to the Event (e.g. licensing of broadcast rights and all other electronic media rights, income from Event sponsors, ticketing and merchandising, multimedia such as games, Event catering, public subsidies and other sources) shall be retained by the NSA and the Organiser, for the organisation of the Event, to be allocated according to their internal agreement, which may deviate from the allocation of the rights as provided in the FIS Advertising and other similar Rules. The FIS is entitled to keep all income from the title sponsor(s) of the FIS Ski World Cup, which is used for the FIS costs for professional staff and organisation, and has no financial obligation towards the NSA and/or the Organiser with respect to the Event. Furthermore, in accordance with the FIS Congress 2008 decision, the FIS has been tasked with negotiating the marketing rights for the timing and data inserts. The net revenues generated as a result will be distributed to the NSA and the Organiser. The split will be determined by the FIS Council. All financial obligations related to the Event shall be met by the NSA and the Organiser, subject to exceptions specified in this Agreement. Payments to the teams and/or athletes for travel money (art 5) and/or prize money (art.6) must be transferred by electronic banking means as defined in the WCR.

FINANCIAL ASPECTS. Subject to this paragraph, all income related to the Event (e.g. licensing of broadcast rights and all other electronic media rights, income from Event sponsors, ticketing and merchandising, multimedia such as games, Event catering, public subsidies and other sources) shall be retained by the NSA and the Organiser, for the organisation of the Event, to be allocated according to their internal agreement, which may deviate from the allocation of the rights as provided in the FIS Advertising and other similar Rules. The FIS is entitled to keep all income from the title sponsor(s) of the AUDI FIS Ski World Cup, which is used for the FIS costs for professional staff and organisation, and has no financial obligation towards the NSA and/or the Organiser with respect to the Event. Furthermore, in accordance with the FIS Congress 2008 decision, the FIS has been tasked with negotiating the marketing rights for the timing and data inserts. The net revenues generated as a result will be distributed to the NSA and the Organiser. The split will be determined by the FIS Council. All financial obligations related to the Event shall be met by the NSA and the Organiser, subject to exceptions specified in this Agreement. Payments to the teams and/or athletes for travel money (art 5) and/or prize money (art.6) must be transferred by electronic banking means as defined in the WCR.