Meeting papers

Page 337 of 518

HWL
                                                                          EBSWORTH

                               (b)    All previous negotiations, understandings,
                                      representations, warranties, memoranda or
                                      commitments in relation to, or in any way affecting, the
                                      subject matter of this document are merged in and
                                      superseded by this document and are of no force or
                                      effect.

11.     Contingency Fund                                                              .

11.1.   Maintenance of Contingency Fund
                               (a)    TN will maintain at all times a Contingency Fund ata
                                      balance that is no less than $250,000.00 throughout the
                                   __ term of this Agreement, subject to clause 11.2 (b).
                               (b)    Amounts may be withdrawn from the Contingency Fund
                                      on the following conditions:

               (i) TN must request Council’s approval for any withdrawal of any amount from
               the Contingency Fund, and provide reasons to Council for the request, as well
               as a proposal for the reimbursement of any such funds back into the
               Contingency Fund within a proposed period;
               (ii) Council must provide TN with its approval or otherwise for any such request
               within 30 days of receiving TN’s request for a withdrawal.

 Tourism Noosa Funding Deed                                                           Page 12
 Endorsed Ordinary Meeting- 20 April 2023
 ECM: 22408732

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