Cost Sharing 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 following services to be utilised by the Company’s Employees:
1 the Premises, including related cleaning, janitorial and utility services;
2 furniture, furnishings and equipment (including computer equipment);
3 telephone, internet and communication services;
4 printing, scanning, mail service, including postage, and messenger services; and
5 insurance coverage, such as employee group insurance, general liability and workers’ compensation.
In consideration of the Services rendered to it, the Company agrees to reimburse the Servicer on a monthly basis in arrears 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. To the extent that such costs are difficult or impracticable to determine, the Servicer shall determine in good faith the approximate costs attributable to the Company’s use of the services rendered, which determination shall be subject to the reasonable approval of the Company, or in accordance with agreed guidelines for reimbursement of certain costs that would permit the determination and reimbursement of such costs without prior approval by the Company in each instance. The parties hereto agree that all charges to the Company for services provided under this Agreement shall be based on the Servicer’s actual costs without any allowance or margin for profit to the Servicer.