Resourcing. 3.1 Each Party agrees to provide to the Project an initial amount of CAD $35,000, which funds (the “Seed Funding”) will be used to cover initial Project costs related to the development of: a) Feasibility studies and business case development to outline the Project’s potential for an Energy Sustainability Centre and the commercialization of Power-to-Gas technologies and the positive impact such technologies will have for reducing carbon emissions; and b) Retaining a project manager to directly support the management and advancement of the Project, including identifying investors to help secure estimated total Project funding of CAD $36 million (the “Project Funding”). 3.2 ▇▇▇▇▇ County shall be responsible for coordinating the Seed Funding and shall provide SFN with an itemized breakdown with sufficient detail of how the Seed Funding has been spent. 3.3 The Parties agree to jointly develop terms of reference and approach for any subsequent round(s) of Seed Funding that may be required.
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Sources: Memorandum of Understanding, Memorandum of Understanding