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1. |
Each Participant will contribute its
equitable share of the full costs of the Project, including overhead costs and
administrative costs. The assignment of work represents an equitable sharing of
work to be performed under the Project, and each Participant will receive an
equitable share of the results of the Project.
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2. |
a. |
Each Participant will fund the full
extent of its participation in the Project. The Participants estimate that the
performance of the responsibilities under this MOU will not exceed a Cost
Ceiling of $ 11.88M fiscal year 1993 U.S. dollars.
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b. |
The full costs of the Project, as
identified in this Section and in Annex B (Financial Matters) of this MOU, will
be shared according to the following percentages:
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Participant
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Percentage
Share
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United States
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33 1/3%
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Norway
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33 1/3%
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United Kingdom
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33 1/3%
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3. |
The Participants will use their best
efforts to perform, or to have performed, the work specified in Section III
(Scope of Work) and fulfill all the obligations under this MOU within the cost
specified in Annex B (Financial Matters).
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4. |
Each Participant will bear the full costs
it incurs for performing, managing, and administering its activities under this
MOU and these costs will be included as part of each Participant's
contributions to the Project. Values for Project nonfinancial contributions are
detailed in Annex B (Financial Matters).
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5. |
The following costs will be borne entirely
by the Participant incurring the costs:
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a.
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Costs associated with any unique national
requirements identified by a Participant.
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b.
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Any other costs outside the scope of this
MOU.
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6. |
A Participant will promptly notify the
other Participants if available funds are not adequate to fulfill its responsibilities
under this MOU. If a Participant notifies the other Participants that it it
withdrawing or reducing its funding for this Project, all Participants will
immediately consult with a view toward continuation on a changed or reduced
basis in accordance with the provisions of Section XVIII (Amendment,
Withdrawal, Termination, Entry Into Effect, and Duration).
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7. |
All activities of the Participants under
this MOU will be carried out in accordance with their national laws and the
obligations of the Participants will be subject to the availability
appropriated funds for such purposes.
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