Common use of Joint Committee Costs Clause in Contracts

Joint Committee Costs. 12.3.1 Any Joint Committee Costs incurred by the Joint Committee shall be shared on a Proportionate Basis between the Councils pursuant to this Agreement. 12.3.2 Each Council shall be required to prepare accounts including details of any Joint Committee Costs incurred pursuant to Schedule 4 (Heads of Expenditure) ("the Accounts") in respect of each Accounting Period and for such further and/or other accounting periods as the Joint Committee shall determine and which shall be incorporated into Schedule 5 (Accounting Periods). For the avoidance of doubt, such Accounts shall not include any revenue costs or capital investment requirements in relation to the implementation of any project pursuant to an Annual Business Plan and shall solely relate to the operational and management costs of the Joint Committee. 12.3.3 Each Council shall:- (a) in the Accounts make true and complete entries of all relevant payments made by it during the previous Accounting Period; (b) within one (1) month of the end of each Accounting Period, each Council shall provide to the Accountable Body unaudited Accounts for such Accounting Period together with certification that such Accounts comply with this Clause 12 (Commitment of the Councils and Contributions); (c) nominate an individual to be responsible for ensuring that Council's own compliance with this Clause 12 (Commitment of the Councils and Contributions) and the name, address and telephone number of each individual nominated pursuant to this Clause 12.3.3(c) (Commitment of the Councils and Contributions) shall be notified to the other Councils in accordance with Clause 23 (Notices); and (d) if an individual nominated by a Council pursuant to Clause 12.3.3(c) (Commitment of the Councils and Contributions) changes, that Council shall notify the other Councils forthwith of the replacement nominees. 12.3.4 The Accountable Body shall: (a) within ten (10) Business Days of receipt of the Accounts submitted by the other Councils in accordance with Clause 12.3.3(b) prepare a reconciliation statement identifying the payments made by each Council and the balance due from or owing to each; and (b) within twenty (20) Business Days of the preparation of the reconciliation statement send out a copy of the reconciliation statement together with either a balancing invoice or, subject to Clause 12.3.4(b), credit payments to each Council. 12.3.5 The Accountable Body shall not be obliged to make any payments due under this Agreement until the Accountable Body is in receipt of funds from the Joint Committee pursuant to this Clause 12.3. 12.3.6 A Council receiving an invoice for payment shall pay it in full within twenty

Joint Committee Costs. 12.3.1 15.3.1 Any Joint Committee Costs incurred by the Joint Committee shall be shared on a Proportionate Basis between the Councils Parties pursuant to this Agreement. They will form part of the Annual Budget referred to in Clause 15.4 below. 12.3.2 15.3.2 Each Council Party shall be required to prepare accounts including details of any approved Internal Costs or Joint Committee Costs incurred pursuant to Schedule 4 5 (Heads of Expenditure) (the "the Accounts") in respect of each Accounting Period and for such further and/or other accounting periods as the Joint Committee shall determine and which shall be incorporated into Schedule 5 6 (Accounting Periods). For the avoidance of doubt, such Accounts shall not include any revenue costs or capital investment requirements in relation to the development of any business case by a Project Sponsor of any Adviser Led Project or the implementation of any proposed project pursuant to an Annual Business Plan by a Project Sponsor of any Adviser Led Project and shall solely relate to the operational and management costs of the Joint Committee. 12.3.3 15.3.3 Each Council Party shall:- (a) in the Accounts make true and complete entries of all relevant payments made by it during the previous Accounting Period; (b) within one (1) month of the end of each Accounting Period, each Council Party shall provide to the Accountable Body Host Authority unaudited Accounts for such Accounting Period together with certification that such Accounts comply with this Clause 12 15 (Commitment of the Councils Parties and Contributions); (c) nominate an individual to be responsible for ensuring that CouncilParty's own compliance with this Clause 12 15 (Commitment of the Councils Parties and Contributions) and the name, address and telephone number of each individual nominated pursuant to this Clause 12.3.3(c) 15 (Commitment of the Councils Parties and Contributions) shall be notified to the other Councils Parties in accordance with Clause 23 27 (Notices); and (d) if an individual nominated by a Council Party pursuant to Clause 12.3.3(c) 15 (Commitment of the Councils Parties and Contributions) changes, that Council Party shall notify the other Councils Parties forthwith of the replacement nominees. 12.3.4 15.3.4 The Accountable Body shall:Host Authority shall:- (a) within ten (10) Business Days of receipt of the Accounts submitted by the other Councils Parties in accordance with Clause 12.3.3(b15.3.3(b) prepare a reconciliation statement identifying the payments made by each Council Party and the balance due from or owing to each; and (b) within twenty (20) Business Days of the preparation of the reconciliation statement send out a copy of the reconciliation statement together with either a balancing invoice or, subject to Clause 12.3.4(b), 15.3.4(b) credit payments to each CouncilParty. 12.3.5 15.3.5 The Accountable Body Host Authority shall not be obliged to make any payments due under this Agreement until the Accountable Body Host Authority is in receipt of funds from the Joint Committee Parties pursuant to this Clause 12.315.3. 12.3.6 15.3.6 A Council Party receiving an invoice for payment shall pay it in full within twentytwenty (20) Business Days. Any error in a balancing invoice must be notified to the Host Authority within five