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 Parties pursuant to this Agreement. They will form part of the Annual Budget referred to in Clause 12.4 below. 12.3.2 Each Party 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 proposed project and shall solely relate to the operational and management costs of the Joint Committee. 12.3.3 Each 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 Party 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 Parties and Contributions); (c) nominate an individual to be responsible for ensuring that Party's own compliance with this Clause 12 (Commitment of the Parties and Contributions) and the name, address and telephone number of each individual nominated pursuant to this Clause 12.3.3