Cost Sharing Agreement for a servicer to share its costs relating to the premises. office, administrative and other fees and expenses.
The Company is seeking office and admin services to assist in the running of their business operations and the Servicer is willing to provide such services on the terms of this Agreement. The parties are entering into this Agreement pursuant to which the Servicer will perform services and activities relating to the day-to-day operations of the Company in accordance with the terms and conditions set forth therein.
In order to reduce the Company’s administrative and other costs of supporting its officers and employees which are not affiliated with the Servicer, the Company intends to utilise office space at the Servicer’s offices at its Premises and certain administrative services provided by or on behalf of by the Servicer. The parties desire to provide for a cost-sharing arrangement relating to the Servicer’s use of certain overhead items at the Premises such as space, utilities and other administrative services.
The Servicer shall furnish, either directly or through third-parties engaged by the Servicer, subject to reimbursement by the Company, all or part of the services to be utilised by the Company’s Employees.
In consideration of the Services rendered to it, the Company agrees to reimburse the Servicer for the costs of the services and facilities provided hereunder based on the actual cost attributable to the Company’s use of the services rendered.
This document should be carefully read by the Individual Servicer and Company.
Both parties should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.
If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.
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