THIS COST SHARING AGREEMENT is entered into on 29 April 2024

Between

(1)            PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the Servicer)

(2)            PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the Company)

Whereas

A.    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.

B.   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.

 

It is agreed as follows:

1. Interpretation

"Activity or Activities" means the following activities which is or may be carried on by Company:

ACTIVITIES

"Agreement" means any agreement made subject to the terms and conditions below;

"Cost" in relation to an Activity undertaken by Servicer or other Service Provider means the total cost of such Activity namely (i) those costs referable to it which can be allocated directly, including any directly-related payment to Servicer staff and (ii) an allocation of direct salary and labour burden costs determined by time writing or estimation of time and effort, where the Activity is within normal duties, determined in accordance with the time spent, and (iii) indirect costs attributable to the direct labour costs for activities which utilise Servicer facilities, but shall not include any element for profit.

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