Common use of Changes to Revenue Firm Schemes Clause in Contracts

Changes to Revenue Firm Schemes. 10.1 The Grant Recipient may propose changes to any Revenue Firm Scheme at any time prior to the Revenue Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Revenue Firm Scheme Grant already received by the Grant Recipient. 10.2 Where a Revenue 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 procedure set out in Clause 10.3 (Changes to Revenue Firm Schemes) below. 10.3 If Homes England: 10.3.1 accepts the Revenue Change in principle, it shall be entitled to recalculate the Revenue Firm Scheme Grant allocated to the Revenue Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Revenue Firm Scheme Grant figure than that set out in the Revenue 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 Revenue Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Revenue Firm Scheme Grant figure or to withdraw the proposed Revenue Change. If: (a) the Revenue Firm Scheme is withdrawn by the Grant Recipient, Homes England will withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; (b) the proposed Revenue Change is withdrawn by the Grant Recipient, the Grant Recipient shall reinstate in IMS the Revenue Firm Scheme Details ante the date of the Revenue Change and, following Homes England's approval of such reinstated details in IMS, the Revenue Firm Scheme shall proceed on the basis of those reinstated Revenue Firm Scheme Details; (c) the Grant Recipient wishes to proceed with the Revenue Firm Scheme, it must immediately amend the Revenue Firm Scheme Details in IMS to reflect the Revenue Change, the recalculated Revenue Firm Scheme Grant figure and any Revenue Firm Scheme Grant already received. The amended Revenue Firm Scheme Details (together with any adjustments due as a result of the recalculated Revenue Firm Scheme Grant figure being lower than the original Revenue Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); and (d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement; 10.3.2 accepts the Revenue Change (including any change to the Revenue Firm Scheme Grant figure) as proposed by the Grant Recipient, it will accept the change through IMS and the relevant Revenue Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance; 10.3.3 rejects the Revenue Change, Homes England will notify the Grant Recipient and the 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 Revenue Firm Scheme on the original basis or to withdraw it. If: (a) the Revenue Firm Scheme is withdrawn by the Grant Recipient, Homes England will permanently withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; or (b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement. 10.4 Homes England will not be obliged to pay any Revenue Firm Scheme Grant to the Grant Recipient in relation to any Revenue Firm Scheme unless any changes required to the Revenue Firm Scheme Details by Clause 10.3 (Changes to Revenue Firm Schemes) have been made and have been accepted by Homes England in IMS. 10.5 Homes England will take reasonable steps to contact the Grant Recipient during the period specified in each of Clauses 10.3.1 (Changes to Revenue Firm Schemes) and 10.3.3 (Changes to Revenue Firm Schemes) to remind the Grant Recipient of the need for the appropriate notification, but any failure on Homes England's part to do so will not preclude Homes England from treating a Revenue Firm Scheme as withdrawn where there has been a Notification Failure under any of those Clauses. 10.6 Under no circumstances will Homes England be required to accept any Revenue Change which would have the result of increasing the amount of the Allocated Revenue Grant or the Revenue Firm Scheme Grant in relation to the relevant Revenue Firm Scheme. 10.7 Any change to the Revenue Firm Scheme Details and/or the Approved Revenue Bid resulting from the application of this Clause 10 (Changes to Revenue Firm Schemes) shall be implemented by the Grant Recipient amending the Revenue Firm Scheme Details in IMS and confirmed by Homes England's electronic acceptance of that amendment through IMS and in default of agreement the Parties will be bound by the Revenue Firm Scheme Details as they existed prior to the change proposed.

Changes to Revenue Firm Schemes. ‌ 10.1 The Grant Recipient Lead Partner may propose changes to any Revenue Firm Scheme at any time prior to the Revenue Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Revenue Firm Scheme Grant already received by the Grant Recipient.Lead Partner.‌ 10.2 Where a Revenue 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 procedure set out in Clause 10.3 (Changes to Revenue Firm Schemes) below. 10.3 If Homes England:England:‌ 10.3.1 accepts the Revenue Change in principle, it shall be entitled to recalculate the Revenue Firm Scheme Grant allocated to the Revenue Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Revenue Firm Scheme Grant figure than that set out in the Revenue Firm Scheme Details, Homes England will notify the Grant Recipient Lead Partner and the Grant Recipient Lead Partner will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it the Relevant Consortium Member wishes to withdraw the Revenue Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Revenue Firm Scheme Grant figure or to withdraw the proposed Revenue Change. If:If:‌ (a) the Revenue Firm Scheme is withdrawn by the Grant RecipientLead Partner (on behalf of the Relevant Consortium Member), Homes England will withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient Lead Partner must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; (b) the proposed Revenue Change is withdrawn by the Grant Recipient, the Grant Recipient shall reinstate in IMS the Revenue Firm Scheme Details ante the date of the Revenue Change and, following Homes England's approval of such reinstated details in IMS, the Revenue Firm Scheme shall proceed on the basis of those reinstated Revenue Firm Scheme Details; (c) the Grant Recipient wishes to proceed with the Revenue Firm Scheme, it must immediately amend the Revenue Firm Scheme Details in IMS to reflect the Revenue Change, the recalculated Revenue Firm Scheme Grant figure and any Revenue Firm Scheme Grant already received. The amended Revenue Firm Scheme Details (together with any adjustments due as a result of the recalculated Revenue Firm Scheme Grant figure being lower than the original Revenue Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); and (d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement; 10.3.2 accepts the Revenue Change (including any change to the Revenue Firm Scheme Grant figure) as proposed by the Grant Recipient, it will accept the change through IMS and the relevant Revenue Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance; 10.3.3 rejects the Revenue Change, Homes England will notify the Grant Recipient and the 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 Revenue Firm Scheme on the original basis or to withdraw it. If: (a) the Revenue Firm Scheme is withdrawn by the Grant Recipient, Homes England will permanently withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; or (b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement. 10.4 Homes England will not be obliged to pay any Revenue Firm Scheme Grant to the Grant Recipient in relation to any Revenue Firm Scheme unless any changes required to the Revenue Firm Scheme Details by Clause 10.3 (Changes to Revenue Firm Schemes) have been made and have been accepted by Homes England in IMS. 10.5 Homes England will take reasonable steps to contact the Grant Recipient during the period specified in each of Clauses 10.3.1 (Changes to Revenue Firm Schemes) and 10.3.3 (Changes to Revenue Firm Schemes) to remind the Grant Recipient of the need for the appropriate notification, but any failure on Homes England's part to do so will not preclude Homes England from treating a Revenue Firm Scheme as withdrawn where there has been a Notification Failure under any of those Clauses. 10.6 Under no circumstances will Homes England be required to accept any Revenue Change which would have the result of increasing the amount of the Allocated Revenue Grant or the Revenue Firm Scheme Grant in relation to the relevant Revenue Firm Scheme. 10.7 Any change to the Revenue Firm Scheme Details and/or the Approved Revenue Bid resulting from the application of this Clause 10 (Changes to Revenue Firm Schemes) shall be implemented by the Grant Recipient amending the Revenue Firm Scheme Details in IMS and confirmed by Homes England's electronic acceptance of that amendment through IMS and in default of agreement the Parties will be bound by the Revenue Firm Scheme Details as they existed prior to the change proposed.fifteen

Changes to Revenue Firm Schemes. 10.1 The Grant Recipient may propose changes to any Revenue Firm Scheme at any time prior to the Revenue Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Revenue Firm Scheme Grant already received by the Grant Recipient. 10.2 Where a Revenue 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 procedure set out in Clause 10.3 (Changes to Revenue Firm Schemes) below. 10.3 If Homes England: 10.3.1 accepts the Revenue Change in principle, it shall be entitled to recalculate the Revenue Firm Scheme Grant allocated to the Revenue Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Revenue Firm Scheme Grant figure than that set out in the Revenue 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 Revenue Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Revenue Firm Scheme Grant figure or to withdraw the proposed Revenue Change. If: (a) the Revenue Firm Scheme is withdrawn by the Grant Recipient, Homes England will withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; (b) the proposed Revenue Change is withdrawn by the Grant Recipient, the Grant Recipient shall reinstate in IMS the Revenue Firm Scheme Details ante the date of the Revenue Change and, following Homes England's approval of such reinstated details in IMS, the Revenue Firm Scheme shall proceed on the basis of those reinstated Revenue Firm Scheme Details; (c) the Grant Recipient wishes to proceed with the Revenue Firm Scheme, it must immediately amend the Revenue Firm Scheme Details in IMS to reflect the Revenue Change, the recalculated Revenue Firm Scheme Grant figure and any Revenue Firm Scheme Grant already received. The amended Revenue Firm Scheme Details (together with any adjustments due as a result of the recalculated Revenue Firm Scheme Grant figure being lower than the original Revenue Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); and (d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement; 10.3.2 accepts the Revenue Change (including any change to the Revenue Firm Scheme Grant figure) as proposed by the Grant Recipient, it will accept the change through IMS and the relevant Revenue Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance; 10.3.3 rejects the Revenue Change, Homes England will notify the Grant Recipient and the 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 Revenue Firm Scheme on the original basis or to withdraw it. If: (a) the Revenue Firm Scheme is withdrawn by the Grant Recipient, Homes England will permanently withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; or (b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement. 10.4 Homes England will not be obliged to pay any Revenue Firm Scheme Grant to the Grant Recipient in relation to any Revenue Firm Scheme unless any changes required to the Revenue Firm Scheme Details by Clause 10.3 (Changes to Revenue Firm Schemes) have been made and have been accepted by Homes England in IMS. 10.5 Homes England will take reasonable steps to contact the Grant Recipient during the period specified in each of Clauses 10.3.1 (Changes to Revenue Firm Schemes) and 10.3.3 (Changes to Revenue Firm Schemes) to remind the Grant Recipient of the need for the appropriate notification, but any failure on Homes England's part to do so will not preclude Homes England from treating a Revenue Firm Scheme as withdrawn where there has been a Notification Failure under any of those Clauses. 10.6 Under no circumstances will Homes England be required to accept any Revenue Change which would have the result of increasing the amount of the Allocated Revenue Grant or the Revenue Firm Scheme Grant in relation to the relevant Revenue Firm Scheme. 10.7 Any change to the Revenue Firm Scheme Details and/or the Approved Revenue Bid resulting from the application of this Clause 10 (Changes to Revenue Firm Schemes) shall be implemented by the Grant Recipient amending the Revenue Firm Scheme Details in IMS and confirmed by Homes England's electronic acceptance of that amendment through IMS and in default of agreement the Parties will be bound by the Revenue Firm Scheme Details as they existed prior to the change proposed.

Changes to Revenue Firm Schemes. 10.1 The Grant Recipient Lead Partner may propose changes to any Revenue Firm Scheme at any time prior to the Revenue Firm Scheme Completion Date. Any such changes must be proposed via IMS and must take account of any Revenue Firm Scheme Grant already received by the Grant RecipientLead Partner. 10.2 Where a Revenue 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 procedure set out in Clause 10.3 (Changes to Revenue Firm Schemes) below. 10.3 If Homes England: 10.3.1 accepts the Revenue Change in principle, it shall be entitled to recalculate the Revenue Firm Scheme Grant allocated to the Revenue Firm Scheme by reference to the proposed change. Where the result of that recalculation is a lower Revenue Firm Scheme Grant figure than that set out in the Revenue Firm Scheme Details, Homes England will notify the Grant Recipient Lead Partner and the Grant Recipient Lead Partner will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it the Relevant Consortium Member wishes to withdraw the Revenue Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Revenue Firm Scheme Grant figure or to withdraw the proposed Revenue Change. If: (a) the Revenue Firm Scheme is withdrawn by the Grant RecipientLead Partner (on behalf of the Relevant Consortium Member), Homes England will withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient Lead Partner must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; (b) the proposed Revenue Change is withdrawn by the Grant Recipient, the Grant Recipient shall reinstate in IMS the Revenue Firm Scheme Details ante the date of the Revenue Change and, following Homes England's approval of such reinstated details in IMS, the Revenue Firm Scheme shall proceed on the basis of those reinstated Revenue Firm Scheme Details; (c) the Grant Recipient wishes to proceed with the Revenue Firm Scheme, it must immediately amend the Revenue Firm Scheme Details in IMS to reflect the Revenue Change, the recalculated Revenue Firm Scheme Grant figure and any Revenue Firm Scheme Grant already received. The amended Revenue Firm Scheme Details (together with any adjustments due as a result of the recalculated Revenue Firm Scheme Grant figure being lower than the original Revenue Firm Scheme Grant figure) will be deemed to be effective from the date of their acceptance by Homes England (through IMS); and (d) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement; 10.3.2 accepts the Revenue Change (including any change to the Revenue Firm Scheme Grant figure) as proposed by the Grant Recipient, it will accept the change through IMS and the relevant Revenue Firm Scheme Details will be deemed to have been amended with effect from the date of such acceptance; 10.3.3 rejects the Revenue Change, Homes England will notify the Grant Recipient and the 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 Revenue Firm Scheme on the original basis or to withdraw it. If: (a) the Revenue Firm Scheme is withdrawn by the Grant Recipient, Homes England will permanently withdraw the Revenue Firm Scheme Grant allocated to such scheme and the Allocated Revenue Grant figure will be reduced commensurately and the Grant Recipient must repay Homes England a sum equivalent to the Revenue Firm Scheme Grant received by it, such payment to be made within fifteen (15) Business Days of receipt of Homes England's written demand for the same; or (b) a Notification Failure occurs, Homes England shall be entitled (but not obliged) to treat such failure as a decision by the Grant Recipient to withdraw the Revenue Firm Scheme from this Agreement. 10.4 Homes England will not be obliged to pay any Revenue Firm Scheme Grant to the Grant Recipient in relation to any Revenue Firm Scheme unless any changes required to the Revenue Firm Scheme Details by Clause 10.3 (Changes to Revenue Firm Schemes) have been made and have been accepted by Homes England in IMS. 10.5 Homes England will take reasonable steps to contact the Grant Recipient during the period specified in each of Clauses 10.3.1 (Changes to Revenue Firm Schemes) and 10.3.3 (Changes to Revenue Firm Schemes) to remind the Grant Recipient of the need for the appropriate notification, but any failure on Homes England's part to do so will not preclude Homes England from treating a Revenue Firm Scheme as withdrawn where there has been a Notification Failure under any of those Clauses. 10.6 Under no circumstances will Homes England be required to accept any Revenue Change which would have the result of increasing the amount of the Allocated Revenue Grant or the Revenue Firm Scheme Grant in relation to the relevant Revenue Firm Scheme. 10.7 Any change to the Revenue Firm Scheme Details and/or the Approved Revenue Bid resulting from the application of this Clause 10 (Changes to Revenue Firm Schemes) shall be implemented by the Grant Recipient amending the Revenue Firm Scheme Details in IMS and confirmed by Homes England's electronic acceptance of that amendment through IMS and in default of agreement the Parties will be bound by the Revenue Firm Scheme Details as they existed prior to the change proposed.fifteen