Cost Sharing sharing agreement for a servicer to share its costs relating to certain services to assist in the running of their business operations / activities / projects.
The Company wishes to participate in certain services relating to certain Activities 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 in accordance with the terms and conditions set forth therein.
The parties desire to provide for a cost-sharing arrangement relating to the Servicer’s services and certain overhead items in relation to the Activities. This Agreement is to set out the basis on which Servicer and any other Service Providers to whom performance is delegated shall make available Services to Company that are relevant to the Activities covered by this Agreement.
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 relevant to it for the Activities covered by this Agreement. Where Company carries on more than one Activity, then for the purpose of this Agreement Servicer's obligation to provide Services shall be limited to such Activities as defined in this Agreement as amended from time to time.
Servicer will provide Services consisting of Direct and Indirect Services to Company.
(1) Direct Services will be provided by Servicer to Company for the purpose of direct delivery of the Activities as described in the Definitions.
(2) Indirect Services will be provided by Servicer to Company for the purpose of supporting and managing the delivery of the Activities as described in the Definitions.
The parties may by mutual written agreement add, reduce or amend the types of Activities, Direct or Indirect Services that are provided under this Agreement.
In consideration of the Services rendered to it, the Company agrees to reimburse the Servicer on a monthly basis in arrears for the amounts which represents Company’s share in the Cost to Servicer of the Services provided, based on X per cent. of the Shared Costs, which represents the Company’s share in the Cost to Servicer in the field of Company’s Activities.
In addition to this payment Company shall reimburse Servicer, and Servicer shall invoice Company from time to time, for additional costs incurred by Servicer in connection with performing the Services under this Agreement, including but not limited to travelling and hotel expenses and reasonable living allowances of Servicer's and/or any Service Provider's personnel rendering the Services.
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