Common use of Underspend Clause in Contracts

Underspend. In the event that expenditure from any Pooled Fund or Non Pooled/Aligned Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year the Partners shall agree, by means of proposals recommended by the BCF Partnership Group for approval by the Joint Commissioning Board, how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of the Performance Payment Arrangement.

Underspend. In the event that expenditure from any Pooled Fund or Non Pooled/Aligned Pooled Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year the Partners shall agree, by means of proposals recommended by the BCF Partnership Group for approval by the Joint Commissioning Board, agree how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of the Performance Payment Arrangement.

Underspend. In the event that expenditure from any Pooled Fund or Non Pooled/Aligned Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year the Partners shall agree, by means of proposals recommended by the BCF Partnership Group for approval approved by the Joint Commissioning Board, in accordance with the Financial Governance arrangements at Schedule 1 and the Risk Share arrangements set out in Schedule 4, how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of the Performance Payment Arrangement.

Underspend. In the event that expenditure from any Pooled Fund or Non Pooled/Aligned Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year the th15e Partners shall agree, by means of proposals recommended by the BCF Partnership Group for approval approved by the Joint Commissioning Board, in accordance with the Financial Governance arrangements at Schedule 1 and the Risk Share arrangements set out in Schedule 4, how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of the Performance Payment Arrangement.

Underspend. In the event that expenditure from any Pooled Fund or Non Pooled/Aligned Fund in any Financial Year is less than the aggregate value of the Financial Contributions made for that Financial Year the Partners shall agree, by means of proposals recommended by the BCF Partnership Group for approval approved by the Joint Commissioning Board, in accordance with the Financial Governance arrangements at Schedule 1 and the Risk Share arrangements set out in Schedule 4, how the surplus monies shall be spent, carried forward and/or returned to the Partners. Such arrangements shall be subject to the Law and the Standing Orders and Standing Financial Instructions (or equivalent) of the Partners and the terms of the Performance Payment ArrangementPartners.