Common use of Contribution Formula Clause in Contracts

Contribution Formula. The Participants shall contribute on a calendar year (i.e., annual) basis towards the funding of these costs. The contribution formula attached hereto as Exhibit 2 (“Contribution Formula”) shall be the method by which the amount of each Participant’s annual funding contribution is determined. Each year, the annual contribution shall be determined by inputting into the Contribution Formula the required data from the prior year and the annual approved Program budget for the next year. The County shall be responsible for calculating the Contribution Formula for the next year and shall provide the updated Contribution Formula for the next year to the Participants prior to April 1 of the initial term hereof, and April 1 of each then current renewal term thereafter. Each Participant agrees to pay its contribution in full to the County by July 15th of the initial term and by March 1st of the then current renewal term of this Agreement. The County will be responsible for paying out and distributing the contributions of the Participants. The County agrees to and shall maintain accurate books and records to account for all funding contributions received and expenses paid under this Agreement. Such books and records shall be made available for inspection by any Participant upon request. The Contribution Formula may be modified upon recommendation of the EMSS Executive Committee approved by majority vote of the Advisory Board. While the County agrees to perform the actions described in this subsection, the Executive Committee will be responsible for the overall administration of this Agreement as provided for in Section V.B.1. of this Agreement.

Contribution Formula. The Participants shall contribute on a calendar year (i.e., annual) basis towards the funding of these costs. The contribution formula attached hereto as Exhibit 2 (“Contribution Formula”) shall be the method by which the amount of each Participant’s annual funding contribution is determined. Each year, the annual contribution shall be determined by inputting into the Contribution Formula the required data from the prior year and the annual approved Program budget for the next year. The County shall be responsible for calculating the Contribution Formula for the next year and shall provide the updated Contribution Formula for the next year to the Participants prior to April 1 of the initial term hereof, and April 1 of each then current renewal term thereafter. Each Participant agrees to include its respective contribution in its budget and to pay its contribution such amount in full to the County by July 15th March 1st of the initial term and by March 1st of the or then current renewal term of this Agreement. The County will be responsible for paying out and distributing the contributions of the Participants. The County agrees to and shall maintain accurate books and records to account for all funding contributions received and expenses paid under this Agreement. Such books and records shall be made available for inspection by any Participant upon request. The Contribution Formula may be modified upon recommendation of the EMSS Executive Committee approved by majority vote of the Advisory Board. While the County agrees to perform the actions described in this subsection, the Executive Committee will be responsible for the overall administration of this Agreement as provided for in Section V.B.1. of this Agreement.

Contribution Formula. The Participants shall contribute on a calendar year (i.e., annual) basis towards the funding of these costs. The contribution formula attached hereto as Exhibit 2 (“Contribution Formula”) shall be the method by which the amount of each Participant’s annual funding contribution is determined. Each year, the annual contribution shall be determined by inputting into the Contribution Formula the required data from the prior year and the annual approved Program budget for the next year. The County shall be responsible for calculating the Contribution Formula for the next year and shall provide the updated Contribution Formula for the next year to the Participants prior to April 1 of the initial term hereof, and April 1 of each then current renewal term thereafter. Each Participant agrees to pay its contribution in full to the County by July 15th March 1st of the initial term and by March 1st of the or then current renewal term of this Agreement. The County will be responsible for paying out and distributing the contributions of the Participants. The County agrees to and shall maintain accurate books and records to account for all funding contributions received and expenses paid under this Agreement. Such books and records shall be made available for inspection by any Participant upon request. The Contribution Formula may be modified upon recommendation of the EMSS Executive Committee approved by majority vote of the Advisory Board. While the County agrees to perform the actions described in this subsection, the Executive Committee will be responsible for the overall administration of this Agreement as provided for in Section V.B.1. of this Agreement.