TOURISM NOOSA FUNDING AGREEMENT (REFERRED FROM S&O 11 APRIL 2023) · Attachment 1 - Deed - Funding Agreement Final

                                         (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                                               superseded by this document and are of no force or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 at a
                                               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                                         (b)   Amounts may be withdrawn from the Contingency Fund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

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