Changes to Firm Schemes. 10.1 The Developer may propose changes to any Firm Scheme at any time prior to the Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Tranche already received by the Developer. 10.2 Where a Pre-First Claim Change is proposed, Homes England will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 10.3 (Changes to Firm Schemes) unless Homes England agrees that the relevant change may be agreed by some other means. 10.3 If Homes England: 10.3.1 accepts a Pre-First Claim Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England will notify the Developer and the Developer will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Change. If: (a) the Firm Scheme is withdrawn by the Developer, Homes England will (subject to any invocation by the Developer of Clause 10.14 (Changes to Firm Schemes) and any resulting operation of Clause 10 (Changes to Firm Schemes)) withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; (b) the proposed Pre-First Claim Change is withdrawn by the Developer, the Developer shall reinstate in IMS the Firm Scheme Details ante the date of the proposed Pre-First Claim Change and, following Homes England's approval of such reinstated details in IMS, the Firm Scheme shall proceed on the basis of those reinstated Firm Scheme Details; (c) the Developer wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect the Pre- First Claim Change and the recalculated Firm Scheme Grant figure. The amended Firm Scheme Details (together with any adjustments to the sum and, save in respect of a Single Claim Scheme, percentages of any subsequent Tranche due resulting from the recalculated Firm Scheme Grant figure being lower than the original Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); or (d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer to withdraw the Firm Scheme from this Agreement. 10.3.2 accepts a Pre-First Claim Change (including any change to the Firm Scheme Grant figure) as proposed by the Developer, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance; 10.3.3 rejects a Pre-First Claim Change, Homes England will notify the Developer and the Developer will have twenty (20) Business Days from the date of Homes England's notification to advise Homes England as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If: (a) the Firm Scheme is withdrawn by the Developer, Homes England will permanently withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; or (b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer to withdraw the Firm Scheme from this Agreement and Clause 10.3.3(a) (Changes to Firm Schemes) shall apply.
Appears in 3 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Changes to Firm Schemes.
10.1 The Developer may propose changes to any Firm Scheme at any time prior to the Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Tranche already received by the Developer.
10.2 Where a Pre-First Claim Change is proposed, Homes England will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 10.3 (Changes to Firm Schemes) unless Homes England agrees that the relevant proposed change may be agreed by some other means.
10.3 If Homes England:
10.3.1 accepts a Pre-First Claim Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England will notify the Developer and the Developer will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Change. If:
(a) the Firm Scheme is withdrawn by the Developer, Homes England will (subject to any invocation by the Developer of Clause 10.14 (Changes to Firm Schemes) and any resulting operation of Clause 10 (Changes to Firm Schemes)) withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately;
(b) the proposed Pre-First Claim Change is withdrawn by the Developer, the Developer shall reinstate in IMS the Firm Scheme Details ante the date of the proposed Pre-First Claim Change and, following Homes England's approval of such reinstated details in IMS, the Firm Scheme shall proceed on the basis of those reinstated Firm Scheme Details;
(c) the Developer wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect the Pre- First Claim Change and the recalculated Firm Scheme Grant figure. The amended Firm Scheme Details (together with any adjustments to the sum and, and (save in respect of a Single Claim Scheme, ) percentages of any subsequent Tranche due resulting which result from the recalculated Firm Scheme Grant figure being lower than the original Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); or
(d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer to withdraw the Firm Scheme from this Agreement.
10.3.2 accepts a Pre-First Claim Change (including any change to the Firm Scheme Grant figure) as proposed by the Developer, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
10.3.3 rejects a Pre-First Claim Change, Homes England will notify the Developer and the Developer will have twenty (20) Business Days from the date of Homes England's notification to advise Homes England as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Firm Scheme is withdrawn by the Developer, Homes England will permanently withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; or
(b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer to withdraw the Firm Scheme from this Agreement and Clause 10.3.3(a) (Changes to Firm Schemes) shall apply.
Appears in 2 contracts
Samples: Grant Agreement, Grant Agreement
Changes to Firm Schemes.
10.1 5.1 The Developer Grant Recipient may propose changes to any Firm Scheme at any time prior to the Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Tranche already received by the DeveloperGrant Recipient.
10.2 5.2 Where a Pre-First Claim Change is proposed, Homes England will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 10.3 5.3 (Changes to Firm Schemes) unless Homes England agrees that the relevant change may be agreed by some other means.
10.3 5.3 If Homes England:
10.3.1 5.3.1 accepts a Pre-First Claim Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Change. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England will (subject to any invocation by the Developer Grant Recipient of Clause 10.14 7.1 (Changes to Firm SchemesScheme substitution and additions) and any resulting operation of Clause 10 7 (Changes to Firm SchemesScheme substitution and additions)) withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately;
(b) the proposed Pre-First Claim Change is withdrawn by the DeveloperGrant Recipient, the Developer Grant Recipient shall reinstate in IMS the Firm Scheme Details ante the date of the proposed Pre-First Claim Change and, following Homes England's approval of such reinstated details in IMS, the Firm Scheme shall proceed on the basis of those reinstated Firm Scheme Details;
(c) the Developer Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect the Pre- First Claim Change and the recalculated Firm Scheme Grant figure. The amended Firm Scheme Details (together with any adjustments to the sum and, save in respect of a Single Claim Scheme, and percentages of any subsequent Tranche due resulting from the recalculated Firm Scheme Grant figure being lower than the original Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); or
(d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement.
10.3.2 5.3.2 accepts a Pre-First Claim Change (including any change to the Firm Scheme Grant figure) as proposed by the DeveloperGrant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
10.3.3 5.3.3 rejects a Pre-First Claim Change, Homes England will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of Homes England's notification to advise Homes England as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:of
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England will permanently withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; or
(b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement and Clause 10.3.3(a5.3.3(a) (Changes to Firm Schemes) shall apply.
Appears in 2 contracts
Samples: Grant Agreement, Grant Agreement
Changes to Firm Schemes.
10.1 6.1 The Developer Grant Recipient may propose changes to any Firm Scheme at any time prior to the Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Tranche already received by the DeveloperIMS.
10.2 6.2 Where a Pre-First Claim Start Change is proposed, Homes England the Agency will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 10.3 (Changes to Firm Schemes) unless Homes England agrees that the relevant change may be agreed by some other meansAgency.
10.3 6.3 If Homes Englandthe Agency:
10.3.1 6.3.1 accepts a the Pre-First Claim Start Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England the Agency will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of receipt of Homes Englandthe Agency's notification to advise Homes England the Agency as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Start Change. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England the Agency will (subject to any invocation by the Developer of Clause 10.14 (Changes to Firm Schemes) and any resulting operation of Clause 10 (Changes to Firm Schemes)) withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately;
(b) the proposed Pre-First Claim Start Change is withdrawn by the DeveloperGrant Recipient, the Developer Grant Recipient shall reinstate in IMS the Firm Scheme Details ante the date of the proposed Pre-First Claim Start Change and, following Homes Englandthe Agency's approval of such reinstated details in IMS, the Firm Scheme shall proceed on the basis of those reinstated Firm Scheme Details;.
(c) the Developer Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect both the Pre- First Claim Pre-Start Change and the recalculated Firm Scheme Grant figure. The amended Firm Scheme Details (together with any adjustments to the sum and, save in respect of a Single Claim Scheme, percentages of any subsequent Tranche due resulting from the recalculated Firm Scheme Grant figure being lower than the original Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England the Agency (through IMS); orand if
(d) a Notification Failure occurs, Homes England the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement.
10.3.2 6.3.2 accepts a the Pre-First Claim Start Change (including any change to the Firm Scheme Grant figure) as proposed by the DeveloperGrant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
10.3.3 6.3.3 rejects a the Pre-First Claim Start Change, Homes England the Agency will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of Homes Englandthe Agency's notification to advise Homes England the Agency as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England the Agency will permanently withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; or;
(b) a Notification Failure occurs, Homes England the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement Agreement
6.4 Where a Post-Start Change is proposed, the Agency will be entitled to accept or reject such change or to accept it subject to adjustment by the Agency.
6.5 If the Agency:
6.5.1 accepts the Post-Start Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, the Agency will notify the Grant Recipient and Clause 10.3.3(athe Grant Recipient will have twenty (20) Business Days from the date of receipt of the Agency's notification to advise the Agency as to whether it wishes to withdraw the Firm Scheme from this Agreement, proceed with the Firm Scheme on the basis of the recalculated Firm Scheme Grant figure or to retract the Post-Start Change. If:
(a) the Grant Recipient wishes to withdraw the Firm Scheme, the Agency will permanently withdraw the balance of the Firm Scheme Grant allocated to such scheme and the Grant Recipient must repay the Agency a sum equivalent to the First Tranche Xxxxx received by it, such repayment to be made within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(b) the Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect both the Post-Start Change and the recalculated Firm Scheme Grant figure and the amended Firm Scheme Details will be deemed to be effective from the date of their acceptance by the Agency (through IMS). The Second Tranche Grant figure will be adjusted downwards to take account of the recalculated Firm Scheme Grant figure. If such adjustment would result in the Second Tranche Grant being a negative amount, the Grant Recipient must pay the Agency the Deficit Sum within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(c) the Grant Recipient wishes to retract the Post-Start Change, it must do so immediately via IMS and the Firm Scheme will proceed as contemplated ante the Grant Recipient's submission of the Post-Start Change;
(d) a Notification Failure occurs, the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Firm Scheme from this Agreement.
6.5.2 accepts the Post-Start Change (including any change to the Firm Scheme Grant figure) as proposed by the Grant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
6.5.3 rejects the Post-Start Change, the Agency will notify the Grant Recipient and the Grant Recipient will have twenty (20) Business Days from the date of the Agency's notification to advise the Agency as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Grant Recipient wishes to withdraw the Firm Scheme, the Agency will permanently withdraw the balance of the Firm Scheme Grant allocated to such scheme and the Grant Recipient must repay the Agency a sum equivalent to the First Tranche Xxxxx received by it, such repayment to be made within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(b) a Notification Failure occurs, the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Firm Scheme from this Agreement
6.6 The Agency will not be obliged to pay any Tranche to the Grant Recipient in relation to any Firm Scheme unless any changes required to the Firm Scheme Details by Condition 6.3 or Condition 6.5 (Changes to Firm Schemes) shall applyhave been made and have been accepted by the Agency in IMS.
6.7 The Agency will take reasonable steps to contact the Grant Recipient during the period specified in each of Conditions 6.3.1 (Changes to Firm Schemes), 6.3.3 (Changes to Firm Schemes), 6.5.1 (Changes to Firm Schemes) and 6.5.3 (Changes to Firm Schemes) to remind the Grant Recipient of the need for the appropriate notification, but any failure on the Agency's part to do so will not preclude the Agency from treating a Firm Scheme as withdrawn where there has been a Notification Failure under any of those Conditions.
6.8 Under no circumstances will the Agency be required to accept any Pre-Start Change or Post-Start Change which would have the result of increasing the amount of the Allocated Grant or the Firm Scheme Grant in relation to the relevant Firm Scheme.
Appears in 1 contract
Samples: Grant Agreement
Changes to Firm Schemes.
10.1 6.1 The Developer Grant Recipient may propose changes to any Firm Scheme at any time prior to the Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Tranche already received by the DeveloperIMS.
10.2 6.2 Where a Pre-First Claim Start Change is proposed, Homes England the Agency will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 10.3 (Changes to Firm Schemes) unless Homes England agrees that the relevant change may be agreed by some other meansAgency.
10.3 6.3 If Homes Englandthe Agency:
10.3.1 6.3.1 accepts a the Pre-First Claim Start Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England the Agency will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of receipt of Homes Englandthe Agency's notification to advise Homes England the Agency as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Start Change. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England the Agency will (subject to any invocation by the Developer of Clause 10.14 (Changes to Firm Schemes) and any resulting operation of Clause 10 (Changes to Firm Schemes)) withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately;
(b) the proposed Pre-First Claim Start Change is withdrawn by the DeveloperGrant Recipient, the Developer Grant Recipient shall reinstate in IMS the Firm Scheme Details ante the date of the proposed Pre-First Claim Start Change and, following Homes Englandthe Agency's approval of such reinstated details in IMS, the Firm Scheme shall proceed on the basis of those reinstated Firm Scheme Details;
(c) the Developer Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect both the Pre- First Claim Pre-Start Change and the recalculated Firm Scheme Grant figure. The amended Firm Scheme Details (together with any adjustments to the sum and, save in respect of a Single Claim Scheme, percentages of any subsequent Tranche due resulting from the recalculated Firm Scheme Grant figure being lower than the original Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England the Agency (through IMS); orand if
(d) a Notification Failure occurs, Homes England the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement.
10.3.2 6.3.2 accepts a the Pre-First Claim Start Change (including any change to the Firm Scheme Grant figure) as proposed by the DeveloperGrant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
10.3.3 6.3.3 rejects a the Pre-First Claim Start Change, Homes England the Agency will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of Homes Englandthe Agency's notification to advise Homes England the Agency as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England the Agency will permanently withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; or;
(b) a Notification Failure occurs, Homes England the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement Agreement
6.4 Where a Post-Start Change is proposed, the Agency will be entitled to accept or reject such change or to accept it subject to adjustment by the Agency.
6.5 If the Agency:
6.5.1 accepts the Post-Start Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, the Agency will notify the Grant Recipient and Clause 10.3.3(athe Grant Recipient will have twenty (20) Business Days from the date of receipt of the Agency's notification to advise the Agency as to whether it wishes to withdraw the Firm Scheme from this Agreement, proceed with the Firm Scheme on the basis of the recalculated Firm Scheme Grant figure or to retract the Post-Start Change. If:
(a) the Grant Recipient wishes to withdraw the Firm Scheme, the Agency will permanently withdraw the balance of the Firm Scheme Grant allocated to such scheme and the Grant Recipient must repay the Agency a sum equivalent to the First Tranche Xxxxx received by it, such repayment to be made within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(b) the Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect both the Post-Start Change and the recalculated Firm Scheme Grant figure and the amended Firm Scheme Details will be deemed to be effective from the date of their acceptance by the Agency (through IMS). The Second Tranche Grant figure will be adjusted downwards to take account of the recalculated Firm Scheme Grant figure. If such adjustment would result in the Second Tranche Grant being a negative amount, the Grant Recipient must pay the Agency the Deficit Sum within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(c) the Grant Recipient wishes to retract the Post-Start Change, it must do so immediately via IMS and the Firm Scheme will proceed as contemplated ante the Grant Recipient's submission of the Post-Start Change;
(d) a Notification Failure occurs, the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Firm Scheme from this Agreement.
6.5.2 accepts the Post-Start Change (including any change to the Firm Scheme Grant figure) as proposed by the Grant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
6.5.3 rejects the Post-Start Change, the Agency will notify the Grant Recipient and the Grant Recipient will have twenty (20) Business Days from the date of the Agency's notification to advise the Agency as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Grant Recipient wishes to withdraw the Firm Scheme, the Agency will permanently withdraw the balance of the Firm Scheme Grant allocated to such scheme and the Grant Recipient must repay the Agency a sum equivalent to the First Tranche Xxxxx received by it, such repayment to be made within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(b) a Notification Failure occurs, the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Firm Scheme from this Agreement.
6.6 The Agency will not be obliged to pay any Tranche to the Grant Recipient in relation to any Firm Scheme unless any changes required to the Firm Scheme Details by Condition 6.3 or Condition 6.5 (Changes to Firm Schemes) shall applyhave been made and have been accepted by the Agency in IMS.
6.7 The Agency will take reasonable steps to contact the Grant Recipient during the period specified in each of Conditions 6.3.1 (Changes to Firm Schemes), 6.3.3 (Changes to Firm Schemes), 6.5.1 (Changes to Firm Schemes) and 6.5.3 (Changes to Firm Schemes) to remind the Grant Recipient of the need for the appropriate notification, but any failure on the Agency's part to do so will not preclude the Agency from treating a Firm Scheme as withdrawn where there has been a Notification Failure under any of those Conditions.
6.8 Under no circumstances will the Agency be required to accept any Pre-Start Change or Post-Start Change which would have the result of increasing the amount of the Allocated Grant or the Firm Scheme Grant in relation to the relevant Firm Scheme.
Appears in 1 contract
Samples: Grant Agreement
Changes to Firm Schemes.
10.1 6.1 The Developer Grant Recipient may propose changes to any Firm Scheme at any time prior to the Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Tranche already received by the DeveloperIMS.
10.2 6.2 Where a Pre-First Claim Start Change is proposed, Homes England the Agency will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 10.3 (Changes to Firm Schemes) unless Homes England agrees that the relevant change may be agreed by some other meansAgency.
10.3 6.3 If Homes Englandthe Agency:
10.3.1 6.3.1 accepts a the Pre-First Claim Start Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England the Agency will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of receipt of Homes Englandthe Agency's notification to advise Homes England the Agency as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Start Change. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England the Agency will (subject to any invocation by the Developer of Clause 10.14 (Changes to Firm Schemes) and any resulting operation of Clause 10 (Changes to Firm Schemes)) withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately;
(b) the proposed Pre-First Claim Start Change is withdrawn by the DeveloperGrant Recipient, the Developer Grant Recipient shall reinstate in IMS the Firm Scheme Details ante the date of the proposed Pre-First Claim Start Change and, following Homes Englandthe Agency's approval of such reinstated details in IMS, the Firm Scheme shall proceed on the basis of those reinstated Firm Scheme Details;
(c) the Developer Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect both the Pre- First Claim Pre-Start Change and the recalculated Firm Scheme Grant figure. The amended Firm Scheme Details (together with any adjustments to the sum and, save in respect of a Single Claim Scheme, percentages of any subsequent Tranche due resulting from the recalculated Firm Scheme Grant figure being lower than the original Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England the Agency (through IMS); orand if
(d) a Notification Failure occurs, Homes England the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement.
10.3.2 6.3.2 accepts a the Pre-First Claim Start Change (including any change to the Firm Scheme Grant figure) as proposed by the DeveloperGrant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
10.3.3 6.3.3 rejects a the Pre-First Claim Start Change, Homes England the Agency will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of Homes Englandthe Agency's notification to advise Homes England the Agency as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England the Agency will permanently withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; or;
(b) a Notification Failure occurs, Homes England the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement Agreement
6.4 Where a Post-Start Change is proposed, the Agency will be entitled to accept or reject such change or to accept it subject to adjustment by the Agency.
6.5 If the Agency:
6.5.1 accepts the Post-Start Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, the Agency will notify the Grant Recipient and Clause 10.3.3(athe Grant Recipient will have twenty (20) Business Days from the date of receipt of the Agency's notification to advise the Agency as to whether it wishes to withdraw the Firm Scheme from this Agreement, proceed with the Firm Scheme on the basis of the recalculated Firm Scheme Grant figure or to retract the Post-Start Change. If:
(a) the Grant Recipient wishes to withdraw the Firm Scheme, the Agency will permanently withdraw the balance of the Firm Scheme Grant allocated to such scheme and the Grant Recipient must repay the Agency a sum equivalent to the First Tranche Xxxxx received by it, such repayment to be made within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(b) the Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect both the Post-Start Change and the recalculated Firm Scheme Grant figure and the amended Firm Scheme Details will be deemed to be effective from the date of their acceptance by the Agency (through IMS). The Second Tranche Grant figure will be adjusted downwards to take account of the recalculated Firm Scheme Grant figure. If such adjustment would result in the Second Tranche Grant being a negative amount, the Grant Recipient must pay the Agency the Deficit Sum within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(c) the Grant Recipient wishes to retract the Post-Start Change, it must do so immediately via IMS and the Firm Scheme will proceed as contemplated ante the Grant Recipient's submission of the Post-Start Change;
(d) a Notification Failure occurs, the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Firm Scheme from this Agreement.
6.5.2 accepts the Post-Start Change (including any change to the Firm Scheme Grant figure) as proposed by the Grant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
6.5.3 rejects the Post-Start Change, the Agency will notify the Grant Recipient and the Grant Recipient will have twenty (20) Business Days from the date of the Agency's notification to advise the Agency as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Grant Recipient wishes to withdraw the Firm Scheme, the Agency will permanently withdraw the balance of the Firm Scheme Grant allocated to such scheme and the Grant Recipient must repay the Agency a sum equivalent to the First Tranche Xxxxx received by it, such repayment to be made within fifteen (15) Business Days of receipt of the Agency's written demand for the same;
(b) a Notification Failure occurs, the Agency shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Firm Scheme from this Agreement.
6.6 The Agency will not be obliged to pay any Tranche to the Grant Recipient in relation to any Firm Scheme unless any changes required to the Firm Scheme Details by Condition 6.3 or Condition 6.5 (Changes to Firm Schemes) shall applyhave been made and have been accepted by the Agency in IMS.
6.7 The Agency will take reasonable steps to contact the Grant Recipient during the period specified in each of Conditions 6.3.1 (Changes to Firm Schemes), 6.3.3 (Changes to Firm Schemes), 6.5.1 (Changes to Firm Schemes) and 6.5.3 (Changes to Firm Schemes) to remind the Grant Recipient of the need for the appropriate notification, but any failure on the Agency's part to do so will not preclude the Agency from treating a Firm Scheme as withdrawn where there has been a Notification Failure under any of those Conditions.
6.8 Under no circumstances will the Agency be required to accept any Pre-Start Change or Post-Start Change which would have the result of increasing the amount of the Allocated Grant or the Firm Scheme Grant in relation to the relevant Firm Scheme.
Appears in 1 contract
Samples: Grant Agreement
Changes to Firm Schemes.
10.1 The Developer Grant Recipient may propose changes to any Firm Scheme at any time prior to the Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Tranche already received by the Developer.
10.2 Grant Recipient. Where a Pre-First Claim Change is proposed, Homes England will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 10.3 7.3 (Changes to Firm Schemes) unless Homes England agrees that the relevant change may be agreed by some other means.
10.3 . If Homes England:
10.3.1 : accepts a Pre-First Claim Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Change. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England will (subject to any invocation by the Developer Grant Recipient of Clause 10.14 9.1 (Changes to Firm SchemesScheme substitution and additions) and any resulting operation of Clause 10 9 (Changes to Firm SchemesScheme substitution and additions)) withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately;
(b) the proposed Pre-First Claim Change is withdrawn by the DeveloperGrant Recipient, the Developer Grant Recipient shall reinstate in IMS the Firm Scheme Details ante the date of the proposed Pre-First Claim Change and, following Homes England's approval of such reinstated details in IMS, the Firm Scheme shall proceed on the basis of those reinstated Firm Scheme Details;
(c) the Developer Grant Recipient wishes to proceed with the Firm Scheme, it must immediately amend the Firm Scheme Details in IMS to reflect the Pre- First Claim Change and the recalculated Firm Scheme Grant figure. The amended Firm Scheme Details (together with any adjustments to the sum and, save in respect of a Single Claim Scheme, and percentages of any subsequent Tranche due resulting from the recalculated Firm Scheme Grant figure being lower than the original Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); or
(d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement.
10.3.2 . accepts a Pre-First Claim Change (including any change to the Firm Scheme Grant figure) as proposed by the DeveloperGrant Recipient, it will accept the change through IMS and the relevant Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance;
10.3.3 ; rejects a Pre-First Claim Change, Homes England will notify the Developer Grant Recipient and the Developer Grant Recipient will have twenty (20) Business Days from the date of Homes England's notification to advise Homes England as to whether it wishes to proceed with the Firm Scheme on the original basis or to withdraw it. If:
(a) the Firm Scheme is withdrawn by the DeveloperGrant Recipient, Homes England will permanently withdraw the Firm Scheme Grant allocated to such scheme and the Allocated Capital Grant figure will be reduced commensurately; or
(b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Developer Grant Recipient to withdraw the Firm Scheme from this Agreement and Clause 10.3.3(a7.3.3(a) (Changes to Firm Schemes) shall apply.. Where a Pre-Final Claim Change is proposed, Homes England will be entitled to accept or reject such change or to accept it subject to adjustment by Homes England in accordance with the process set out in Clause 7.5 (Changes to Firm Schemes) unless Homes England agrees that the relevant change may be agreed by some other means. If Homes England: accepts the Pre-Final Claim Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England will notify the Grant Recipient and the Grant Recipient will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it wishes to withdraw the Firm Scheme from this Agreement, proceed with the Firm Scheme on the basis of the recalculated Firm Scheme Grant figure or to retract the Pre-Final Claim Change. If:
(a) the Grant Recipient wishes to withdraw the Firm Scheme, Homes England will permanently withdraw the balance of the Firm Scheme Grant allocated to such scheme and the Grant Recipient must repay Homes England a sum equivalent to such part of the Firm Scheme Grant as has then been received by it (if any), such repayment to be made within fifteen
Appears in 1 contract
Samples: Grant Agreement
