Apportioning Grant on Land Sample Clauses

Apportioning Grant on Land. Subject to the foregoing provisions, when a Grant Recipient:
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Apportioning Grant on Land. 4.1 Subject to the foregoing provisions, when the Landlord: 4.1.1 sells the land or buildings that make up an entire Firm Scheme no apportionment of the Financial Assistance or the Resulting Amount (as applicable) is necessary, as the Recoverable Amount will be the entirety of the Financial Assistance or the Resulting Amount (as applicable) attributable to that Firm Scheme; 4.1.2 sells land or buildings that make up part of a Firm Scheme, the parties (acting reasonably) will seek to agree a reasonable basis for the apportionment of the Financial Assistance or the Resulting Amount (as applicable). In default of agreement, the matter will be referred for determination by an independent surveyor agreed between the parties or, in default of agreement, a surveyor nominated by the President for the time being of the Royal Institution of Chartered Surveyors. Any surveyor so appointed shall use his professional skill and judgement in determining a fair and reasonable apportionment of the Financial Assistance or the Resulting Amount (as applicable) in relation to the land and buildings being disposed of. RECOVERY OF GRANT ON OUTRIGHT SALE OF PROPERTY Calculation of grant to be recovered The Agency is currently working on a pro forma calculation for use in this circumstance which will be provided shortly. In the interim the Landlord should note that the calculation will be based on the following: 1 Identification of net sale proceeds (i.e. sale receipt less allowable expenses and Deemed Loan Debt attributable to the property sold).
Sample 1Sample 2
Apportioning Grant on Land. 4.1 Subject to the foregoing provisions, when a Grant Recipient: 4.1.1 sells the land or buildings that make up an entire Firm Scheme no apportionment of the Firm Scheme Grant is necessary, as the Recoverable Amount will be the entirety of the Firm Scheme Grant attributable to that Firm Scheme; 4.1.2 sells land or buildings that make up part of an Firm Scheme, the parties (acting reasonably) will seek to agree a reasonable basis for the apportionment of the Firm Scheme Grant. In default of agreement, the matter will be referred for determination by an independent surveyor agreed between the parties or, in default of agreement, a surveyor nominated by the President for the time being of the Royal Institution of Chartered Surveyors. Any surveyor so appointed shall use his professional skill and judgement in determining a fair and reasonable apportionment of the Firm Scheme Grant in relation to the land and buildings being disposed of. PART A - Calculation of FSG to be recovered £
Sample 1
Apportioning Grant on Land. 4.1 Subject to the foregoing provisions, when a Grant Recipient: 4.1.1 sells the land or buildings that make up an entire Firm Scheme no apportionment of the Allocated Grant Amount or the Resulting Amount (as applicable) is necessary, as the Recoverable Amount will be the entirety of the Allocated Grant Amount or the Resulting Amount (as applicable) attributable to that Firm Scheme; 4.1.2 sells land or buildings that make up part of a Firm Scheme, the parties (acting reasonably) will seek to agree a reasonable basis for the apportionment of the Allocated Grant Amount or the Resulting Amount (as applicable). In default of agreement, the matter will be referred for determination by an independent surveyor agreed between the parties or, in default of agreement, a surveyor nominated by the President for the time being of the Royal Institution of Chartered Surveyors. Any surveyor so appointed shall use his professional skill and judgement in determining a fair and reasonable apportionment of the Allocated Grant Amount or the Resulting Amount (as applicable) in relation to the land and buildings being disposed of. RECOVERY OF FSG ON OUTRIGHT SALE OF PROPERTY Calculation of FSG to be recovered The Agency is currently working on a pro forma calculation for use in this circumstance which will be provided shortly. In the interim Grant Recipients should note that the calculation will be based on the following: 1 Identification of net sale proceeds (i.e. sale receipt less allowable expenses and Deemed Loan Debt attributable to the property sold). 2 Identification of the FSG allocated to the Affected Affordable Dwelling.
Sample 1
Apportioning Grant on Land. 4.1 Subject to the foregoing provisions, when a Grant Recipient: 4.1.1 sells the land or buildings that make up an entire Firm Scheme no apportionment of the Firm Scheme Grant is necessary, as the Recoverable Amount will be the entirety of the Firm Scheme Grant attributable to that Firm Scheme; 4.1.2 sells land or buildings that make up part of an Firm Scheme, the parties (acting reasonably) will seek to agree a reasonable basis for the apportionment of the Firm Scheme Grant. In default of agreement, the matter will be referred for determination by an independent surveyor agreed between the parties or, in default of agreement, a surveyor nominated by the President for the time being of the Royal Institution of Chartered Surveyors. Any surveyor so appointed shall use his professional skill and judgement in determining a fair and reasonable apportionment of the Firm Scheme Grant in relation to the land and buildings being disposed of. PART A - Calculation of FSG to be recovered £ 1. Sales Proceeds from Part B 2. Less Allowable Expense (from Part C) 3. Less attributable Deemed Loan Debt (from Part D) 4. Net Sales Proceed (lines 1-2-3) 5. Total FSG Input (from Part E) 6. FSG (lesser of lines 4 and 5) To be utilized as Reapplied Grant OR To be paid to the GLA (delete whichever is not applicable) 7. FSG written off (line 5 minus line 4 if line 4 is less than line 5, and zero or greater and GLA consent given) 8. Sales completion date / / PART B - Sale Proceeds Valuation date Sale Completion date valid until / / / / Cost floor (RTB only) Valuation of property (A) Discount (RTB only) % £ £ PART C - Allowable Expenses RTB = greater of (A-B) and C Other = A
Sample 1
Apportioning Grant on Land. 4.1 Subject to the foregoing provisions, when a Grant Recipient: 4.1.1 sells the land or buildings that make up an entire Firm Scheme no apportionment of the FSG is necessary, as the Recoverable Amount will be the entirety of the FSG attributable to that Scheme; 4.1.2 sells land or buildings that make up part of a Firm Scheme, the parties (acting reasonably) will seek to agree a reasonable basis for the apportionment of the FSG. In default of agreement, the matter will be referred for determination by an independent surveyor agreed between the parties or, in default of agreement, a surveyor nominated by the President for the time being of the Royal Institution of Chartered Surveyors. Any surveyor so appointed shall use his professional skill and judgement in determining a fair and reasonable apportionment of the FSG in relation to the land and buildings being disposed of. RECOVERY OF GRANT ON OUTRIGHT SALE OF PROPERTY Calculation of grant to be recovered The Agency is currently working on a pro forma calculation for use in this circumstance which will be provided shortly. In the interim, Grant Recipients should note that the calculation will be based on the following: 1 Identification of net sale proceeds (i.e. sale receipt less allowable expenses and Deemed Loan Debt attributable to the property sold). 2 Identification of the FSG allocated to the Affected AHP Dwelling.
Sample 1
Apportioning Grant on Land. 4.1 Subject to the foregoing provisions, when a Grant Recipient: 4.1.1 sells the land or buildings that make up an entire Firm Scheme no apportionment of the Firm Scheme Grant is necessary, as the Recoverable Amount will be the entirety of the Firm Scheme Grant attributable to that Firm Scheme; 4.1.2 sells land or buildings that make up part of a Firm Scheme, the parties (acting reasonably) will seek to agree a reasonable basis for the apportionment of the Firm Scheme Grant. In default of agreement, the matter will be referred for determination by an independent surveyor agreed between the parties or, in default of agreement, a surveyor nominated by the President for the time being of the Royal Institution of Chartered Surveyors. Any surveyor so appointed shall use his professional skill and judgement in determining a fair and reasonable apportionment of the Firm Scheme Grant in relation to the land and buildings being disposed of. The Agency is currently working on a pro forma calculation for use in this circumstance which will be provided shortly. In the interim Grant Recipients should note that the calculation will be based on the following: 1 Identification of net sale proceeds (i.e. sale receipt less allowable expenses and Deemed Loan Debt attributable to the property sold). 2 Identification of the Firm Scheme Grant allocated to the Affected Affordable Dwelling.
Sample 1
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