§ 106.203 What provisions must be set forth in a Cosponsorship Agreement?

While SBA may require additional provisions in the Cosponsorship Agreement through internal policy and procedure, the following provisions must be in all Cosponsorship Agreements: (a) A written statement agreed to by each Cosponsor that they will abide by all of the provisions of the Cosponsorship Agreement, the requirements of this subpart as well the applicable definitions in § 106.100; (b) A narrative description of the Cosponsored Activity; (c) A listing of SBA's and each Cosponsor's rights, duties and responsibilities with regard to the Cosponsored Activity; (d) A proposed budget demonstrating: (1) The type and source of financial contribution(s) (including but not limited to cash, in-kind, Gifts, and Participant Fees) that the SBA and each Cosponsor will make to the Cosponsored Activity; and (2) A reasonable estimation of all anticipated expenses; (e) A written statement that each Cosponsor agrees that they will not make a profit on the Cosponsored Activity; and (f) A written statement that Participant Fees, if charged, will not exceed the minimal amount needed to cover the anticipated direct costs of the Cosponsored Activity as outlined in the budget and will be liquidated prior to other sources of funding for the Cosponsored Activity.