DEVELOPMENT FUNDS. 17.1 An Instrument Development Fund shall be established to provide for instruments and their supporting systems to augment, upgrade or replace those provided as part of Construction. 17.2 A Facilities Development Fund shall be established to provide an improvement program for the Gemini Telescopes and their support systems. 17.3 The total amount of each Development Fund and the required schedule of payments shall be determined by the Board and shall require the unanimous agreement of the Designated Members. 17.4 Each Party shall contribute on an annual basis to the Instrument Development Fund and to the Facilities Development Fund in the same share as its contribution to the Construction cost or such shares as the Board may determine. 17.5 The Managing Organization shall hold and manage the Development Funds. 17.6 The Managing Organization shall produce plans for the use of the Instrument Development Fund and the Facilities Development Fund. These plans shall be subject to approval by the Board. 17.7 Any Work arising out of expenditures from the Instrument and Facility Development Funds shall be subject to an equitable sharing of responsibilities and benefits between the Parties. 17.8 Upon termination of this Agreement, the Parties shall share any excess money contained in the Development Funds and shall share responsibility for any commitments outstanding at the time of termination in the same share as their contribution to the Development Funds.
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Sources: Agreement Concerning the Construction and Operation of Telescopes, Cooperative Agreement