Common use of Capital Assets Clause in Contracts

Capital Assets. 26.1 During the useful life of a Capital Asset, and notwithstanding the termination or expiry of this Agreement, no Capital Asset shall be sold, charged, loaned, or otherwise disposed of or cease to be used for the purposes of the Project without our prior written consent and such consent (if given) may be conditional on repayment to us of the relevant part of the Grant and shall be subject to clause 27 (GLA Interest in Capital Assets). 26.2 You will procure the maintenance of an insurance policy with an insurer of good repute for every Capital Asset which covers loss or damage for the full replacement value of those Capital Assets and (for the avoidance of doubt) in the event of any loss of or damage to any Capital Asset, we will not be obliged to pay for its replacement or repair. 26.3 You will keep a register of all Capital Assets which shall be accessible to us on request at all reasonable times. Where Grant is used for the purchase of a Capital Asset it must be included on the register of Capital Assets. The register shall include the following information for each Capital Asset: 26.3.1 the date of purchase; 26.3.2 a description sufficient to identify it; 26.3.3 the purchase price excluding recoverable VAT; 26.3.4 any third-party interests or charges over the Capital Asset (e.g. a bank charge if a bank has lent money for the purchase for the Capital Asset); 26.3.5 the location of the documentation showing your title to the Capital Asset; 26.3.6 the location of the Capital Asset; 26.3.7 (if applicable) the date of disposal and the amount of any sale proceeds (net of VAT) and 26.4 For the avoidance of doubt in the event that we consent to your disposal or cessation of use in the Project of any Capital Asset (pursuant to clause 26.1) you shall ensure all data collected used or in any way related to or connected with the Project is erased (so that it cannot be recovered therefrom) from the Capital Assets to which such consent relates. 26.5 The provision of this clause 26 shall survive the termination or expiry of this Agreement.

Capital Assets. 26.1 During the useful life of a Capital Asset, and notwithstanding the termination or expiry of this Agreement, no Capital Asset shall be sold, charged, loaned, or otherwise disposed of or cease to be used for the purposes of the Project without our prior written consent and such consent (if given) may be conditional on repayment to us of the relevant part of the Grant and shall be subject to clause 27 (GLA Interest in Capital Assets). 26.2 You will procure the maintenance of an insurance policy with an insurer of good repute for every Capital Asset which covers loss or damage for the full replacement value of those Capital Assets and (for the avoidance of doubt) in the event of any loss of or damage to any Capital Asset, we will not be obliged to pay for its replacement or repair. 26.3 You will keep a register of all Capital Assets which shall be accessible to us on request at all reasonable times. Where Grant is used for the purchase of a Capital Asset it must be included on the register of Capital Assets. The register shall include the following information for each Capital Asset: 26.3.1 the date of purchase; 26.3.2 a description sufficient to identify it; 26.3.3 the purchase price excluding recoverable VAT; 26.3.4 any third-third party interests or charges over the Capital Asset (e.g. a bank charge if a bank has lent money for the purchase for the Capital Asset); 26.3.5 the location of the documentation showing your title to the Capital Asset; 26.3.6 the location of the Capital Asset; 26.3.7 (if applicable) the date of disposal and the amount of any sale proceeds (net of VAT) and 26.4 For the avoidance of doubt in the event that we consent to your disposal or cessation of use in the Project of any Capital Asset (pursuant to clause 26.1) you shall ensure all data collected used or in any way related to or connected with the Project is erased (so that it cannot be recovered therefrom) from the Capital Assets to which such consent relates. 26.5 The provision of this clause 26 shall survive the termination or expiry of this Agreement.

Capital Assets. 26.1 During the useful life of a Capital Asset, and notwithstanding the termination or expiry of this Agreement, no Capital Asset shall be sold, charged, loaned, or otherwise disposed of or cease to be used for the purposes of the Project without our prior written consent and such consent (if given) may be conditional on repayment to us of the relevant part of the Grant and shall be subject to clause 27 (GLA LDA Interest in Capital Assets). 26.2 You will procure the maintenance of an insurance policy with an insurer of good repute for every Capital Asset which covers loss or damage for the full replacement value of those Capital Assets and (for the avoidance of doubt) in the event of any loss of or damage to any Capital Asset, we will not be obliged to pay for its replacement or repair. 26.3 You will keep a register of all Capital Assets which shall be accessible to us on request at all reasonable times. Where Grant is used for the purchase of a Capital Asset it must be included on the register of Capital Assets. The register shall include the following information for each Capital Asset: 26.3.1 the date of purchase; 26.3.2 a description sufficient to identify it; 26.3.3 the purchase price excluding recoverable VAT; 26.3.4 any third-third party interests or charges over the Capital Asset (e.g. a bank charge if a bank has lent money for the purchase for the Capital Asset); 26.3.5 the location of the documentation showing your title to the Capital Asset; 26.3.6 the location of the Capital Asset; 26.3.7 (if applicable) the date of disposal and the amount of any sale proceeds (net of VAT) and 26.4 For the avoidance of doubt in the event that we consent to your disposal or cessation of use in the Project of any Capital Asset (pursuant to clause 26.1) you shall ensure all data collected used or in any way related to or connected with the Project is erased (so that it cannot be recovered therefrom) from the Capital Assets to which such consent relates. 26.5 The provision of this clause 26 shall survive the termination or expiry of this Agreement.