Common Contracts
1 similar Funding and Management Agreement contracts
and Peterborough Cultural and Leisure Trust ("the Trust") Funding and Management AgreementFunding and Management Agreement • February 3rd, 2011
The Funding and Management Agreement ("FMA") will set out the terms on which funding will be made available by the Council to the Trust and the Council's expectations in terms of service delivery. The key provisions of the FMA between the Council and the Trust are set out below: 1. Term The FMA shall be for a term of 25 years. Both the Council and the Trust have the option to terminate the agreement with effect on the 20th anniversary of the term, upon notice to the other party. The Council has an option to extend the term of the FMA for two further terms of 5 years each, upon notice to the Trust. 2. Services and Facilities The FMA will set out the services to be provided for by the Trust and the facilities/locations where the services shall be carried out. The Trust will carry out the service in accordance with the key performance indicators, good industry practice, using robust financial procedures. The Trust will be expected to continually develop appropriate activities and programm
