Where the term Sample Clauses

Where the term. Initial Term of this Agreement runs for a period of 1 months from the date of commencement, it shall renew automatically on a rolling 1 month basis until terminated by either party by providing a minimum of 30 days written notice of Termination, at any time during the Agreement period.

Where the term. Lessor" or "Lessee" is hereinbefore used, the same shall apply to the plural, if necessary, and all terms used in the singular, or in the masculine gender, shall apply to the plural or to feminine or neuter genders where the context so requires.

Where the term of the agreement is less than four years, redundant columns should be deleted.] ($ million) Year 1 Year 2 Year 3 Year 4 Total Estimated total budget (1) 3.5 3.5 5.5 7.5 20.0 Estimated National Partnership payment (2) 2.0 1.5 3.0 3.5 10.0 Commonwealth own purpose expense (3) 0.5 1.0 1.5 2.0 5.0 Total Commonwealth contribution (4) = (2) + (3) 2.5 2.5 4.5 5.5 15.0 Balance of non-Commonwealth contributions (5) = (1) – (4) 1.0 1.0 1.0 2.0 5.0 Notes: XXXXXXXXXX [delete notes where not applicable] [Note: It needs to be clear what States are expected to deliver before a payment will be made. Reward payments should be tied to performance benchmarks that are achievable and measurable, and linked directly to performance indicators, while project payments should be linked directly with project milestones. Both performance benchmarks and project milestones should link directly to outcomes and/or outputs. Facilitation payments are not tied to performance benchmarks or milestones, but are an incentive for a State or Territory that represent a contribution to the costs associated with implementing reform. The format for presenting the financial arrangements will differ depending on the initiative. Typically a simple table setting out milestones and associated payments is sufficient for project payments, whilst reward payments may be more complex.] Financial risk management [Note: The following is a standard paragraph for inclusion in all NPs, with the exception of NPs for demand-driven programs that are fully funded by the Commonwealth.] Having regard to the agreed estimated costs of projects or reforms under this Agreement, States will not be required to pay a refund to the Commonwealth if the actual cost is less than the agreed estimated cost. Similarly, the States bear all risk should the costs exceed the agreed estimated costs. The Parties acknowledge that this arrangement provides the maximum incentive for the States to deliver projects and reforms cost effectively and efficiently. Part 6 — governance arrangements Enforceability of the Agreement [Note: This section is standard and should not be modified.] The Parties do not intend any of the provisions of this Agreement to be legally enforceable. However, this does not lessen the Parties’ commitment to this Agreement. Review of the Agreement [Note: Clause E23 of the IGA FFR states that NPs are generally expected to have limited time horizons and should lead to either termination or a decision as to whether further fu...