Default Events and Termination. Each of the following circumstances shall constitute a General Default: Each of the following circumstances shall constitute a Project Default: a breach of the Open Book Obligations; the Relevant Consortium Member is unable to make the applicable representations and give the warranties set out in this Agreement and there is a resulting Material Adverse Effect; the Regulator directs or recommends that grant is not to be paid to the Lead Partner or to the Relevant Consortium Member; a Consortium Member (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2021-26's or the Mayor of London's reputation or brings the GLA, the AHP 2021-26's or the Mayor of London into disrepute; failure by the Relevant Consortium Member to comply with any repayment obligation under this Agreement; any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; any of the following events or circumstances occur: (a) a breach of the Estate Regeneration Requirement; (b) the Relevant Consortium Member has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Affordable Housing Capital Funding Guide); (c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; or (d) in the GLA's opinion the Relevant Consortium Member has partitioned a Site in order to avoid the application of the Resident Ballot Requirement; the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; the Relevant Consortium Member has failed to satisfy the Additionality Condition in respect of a Named Project; the Relevant Consortium Member has made any representation or given any warranty under Condition 6.2 that is inaccurate, untrue or misleading; or failure to agree revised Milestone Dates pursuant to Condition 8.1.2(b). The Relevant Consortium Member must notify the GLA immediately in writing on the occurrence of a Default Event. Without prejudice to Conditions 20.5 or 20.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. an occurrence specified in Condition 20.2.5, 20.2.8, 20.2.9, 20.2.16 and 20.2.17, the GLA shall on the service of written notice to the Lead Partner and the Relevant Consortium Member be entitled forthwith and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39): (a) insofar as it relates to the Named Project to which the Project Default relates; and/or (b) insofar as it relates to the Relevant Consortium Member responsible for the Project Default an occurrence specified in Condition 20.2.1, 20.2.2, 20.2.3, 20.2.4, 20.2.6, 20.2.7 or 20.2.10 to 20.2.15 inclusive the GLA may serve notice on the Lead Partner (with a copy provided to the Relevant Consortium Member) requiring the Lead Partner to procure that the Relevant Consortium Member remedies the breach and if within a period of thirty (30) Business Days following service of such notice: (a) the breach has not been remedied or is not capable of remedy; (b) the Relevant Consortium Member has not given an undertaking to remedy the breach on terms satisfactory to the GLA where it has been permitted to do so by the GLA; or (c) if it becomes apparent that the Project Default is incapable of remedy either within such period or at all, the GLA shall be entitled on giving not less than ten (10) Business Days' notice to the Lead Partner and the Relevant Consortium Member and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39): (d) insofar as it relates to the Named Project to which the Project Default relates; and/or (e) insofar as it relates to the Relevant Consortium Member responsible for the Project Default. when the Lead Partner (on behalf of the Consortium) will Profile any Unprofiled Indicative Dwellings into Named Projects; and how, once all Named Projects have been delivered, the average of the grant rates which have been or will be allocated for the Named (Indicative) Projects by Tenure Type will not exceed the Average Grant Rates. If the GLA is not satisfied (acting reasonably) with the information provided pursuant to Condition 20.7 the GLA shall be entitled (in its absolute discretion) on giving not less than ten (10) Business Days' notice to the Lead Partner, to: reduce the Named Project Grant allocated to each AHP Dwelling on OPS by Xxxxxx Type and comprised in a Named (Indicative) Project by an amount equal to the sum of the following calculation (Deduction Amount) (or such other calculation as may be agreed in writing between the parties from time to time): 𝐷𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛 𝐴𝑚𝑜𝑢𝑛𝑡 = Where:
Appears in 2 contracts
Samples: Consortium Grant Agreement, Consortium Grant Agreement
Default Events and Termination. Each of the following circumstances shall constitute a General Default: Each of the following circumstances shall constitute a Project Default: a breach of the Open Book Obligations; the Relevant Consortium Member Grant Recipient is unable to make the applicable representations and give the warranties set out in this Agreement and there is a resulting Material Adverse Effect; the Regulator directs or recommends that grant is not to be paid to the Lead Partner or to Grant Recipient; the Relevant Consortium Member; a Consortium Member Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2021-26's or the Mayor of London's reputation or brings the GLA, the AHP 2021-26's or the Mayor of London into disrepute; failure by the Relevant Consortium Member Grant Recipient to comply with any repayment obligation under this Agreement; any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; any of the following events or circumstances occur:
(a) a breach of the Estate Regeneration Requirement;
(b) the Relevant Consortium Member Grant Recipient has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Affordable Housing Capital Funding Guide);
(c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; or
(d) in the GLA's opinion the Relevant Consortium Member Grant Recipient has partitioned a Site in order to avoid the application of the Resident Ballot Requirement; the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; the Relevant Consortium Member Grant Recipient has failed to satisfy the Additionality Condition in respect of a Named Project; the Relevant Consortium Member Grant Recipient fails to satisfy or, in the opinion of GLA acting reasonably, is unlikely (having regard to the relevant Planning Permission relating to delivery of the dwellings on the Development Site) to satisfy the Affordable Percentage Condition in respect of a Named Project; the Grant Recipient has made any representation or given any warranty under Condition 6.2 that is inaccurate, untrue or misleading; or failure to agree revised Milestone Dates pursuant to Condition 8.1.2(b). ; The Relevant Consortium Member Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. Without prejudice to Conditions 20.5 19.5 or 20.619.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. an occurrence specified in Condition 20.2.5Condition, 20.2.819.2.5, 20.2.919.2.8, 20.2.16 and 20.2.1719.2.9, the GLA shall on the service of written notice to the Lead Partner and the Relevant Consortium Member be entitled forthwith and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39):
(a) insofar as it relates to the Named Project to which the Project Default relates; and/or
(b) insofar as it relates to the Relevant Consortium Member responsible for the Project Default an occurrence specified in Condition 20.2.1, 20.2.2, 20.2.3, 20.2.4, 20.2.6, 20.2.7 or 20.2.10 to 20.2.15 inclusive the GLA may serve notice on the Lead Partner (with a copy provided to the Relevant Consortium Member) requiring the Lead Partner to procure that the Relevant Consortium Member remedies the breach and if within a period of thirty (30) Business Days following service of such notice:
(a) the breach has not been remedied or is not capable of remedy;
(b) the Relevant Consortium Member has not given an undertaking to remedy the breach on terms satisfactory to the GLA where it has been permitted to do so by the GLA; or
(c) if it becomes apparent that the Project Default is incapable of remedy either within such period or at all, the GLA shall be entitled on giving not less than ten (10) Business Days' notice to the Lead Partner and the Relevant Consortium Member and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39):
(d) insofar as it relates to the Named Project to which the Project Default relates; and/or
(e) insofar as it relates to the Relevant Consortium Member responsible for the Project Default. when the Lead Partner (on behalf of the Consortium) will Profile any Unprofiled Indicative Dwellings into Named Projects; and how, once all Named Projects have been delivered, the average of the grant rates which have been or will be allocated for the Named (Indicative) Projects by Tenure Type will not exceed the Average Grant Rates. If the GLA is not satisfied (acting reasonably) with the information provided pursuant to Condition 20.7 the GLA shall be entitled (in its absolute discretion) on giving not less than ten (10) Business Days' notice to the Lead Partner, to: reduce the Named Project Grant allocated to each AHP Dwelling on OPS by Xxxxxx Type and comprised in a Named (Indicative) Project by an amount equal to the sum of the following calculation (Deduction Amount) (or such other calculation as may be agreed in writing between the parties from time to time): 𝐷𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛 𝐴𝑚𝑜19.2.16 and𝑢𝑛𝑡 = Where:
Appears in 1 contract
Samples: Grant Agreement
Default Events and Termination. Each of the following circumstances shall constitute a General Default: Each of the following circumstances shall constitute a Project Default: a breach of the Open Book Obligations; the Relevant Consortium Member Grant Recipient is unable to make the applicable representations and give the warranties set out in this Agreement and there is a resulting Material Adverse Effect; the Regulator directs or recommends that grant is not to be paid to the Lead Partner or to Grant Recipient; the Relevant Consortium Member; a Consortium Member Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2021-26's or the Mayor of London's reputation or brings the GLA, the AHP 2021-26's or the Mayor of London into disrepute; failure by the Relevant Consortium Member Grant Recipient to comply with any repayment obligation under this Agreement; any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; any of the following events or circumstances occur:
(a) a breach of the Estate Regeneration Requirement;
(b) the Relevant Consortium Member Grant Recipient has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Affordable Housing Capital Funding Guide);
(c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; or
(d) in the GLA's opinion the Relevant Consortium Member Grant Recipient has partitioned a Site in order to avoid the application of the Resident Ballot Requirement; the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; the Relevant Consortium Member Grant Recipient has failed to satisfy the Additionality Condition in respect of a Named Project; the Relevant Consortium Member Grant Recipient fails to satisfy or, in the opinion of GLA acting reasonably, is unlikely (having regard to the relevant Planning Permission relating to delivery of the dwellings on the Development Site) to satisfy the Affordable Percentage Condition in respect of a Named Project; the Grant Recipient has made any representation or given any warranty under Condition 6.2 that is inaccurate, untrue or misleading; or failure to agree revised Milestone Dates pursuant to Condition 8.1.2(b). The Relevant Consortium Member Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. Without prejudice to Conditions 20.5 19.5 or 20.619.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. an occurrence specified in Condition 20.2.5Condition, 20.2.819.2.5, 20.2.919.2.8, 20.2.16 and 20.2.1719.2.9, the GLA shall on the service of written notice to the Lead Partner and the Relevant Consortium Member be entitled forthwith and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39):
(a) insofar as it relates to the Named Project to which the Project Default relates; and/or
(b) insofar as it relates to the Relevant Consortium Member responsible for the Project Default an occurrence specified in Condition 20.2.1, 20.2.2, 20.2.3, 20.2.4, 20.2.6, 20.2.7 or 20.2.10 to 20.2.15 inclusive the GLA may serve notice on the Lead Partner (with a copy provided to the Relevant Consortium Member) requiring the Lead Partner to procure that the Relevant Consortium Member remedies the breach and if within a period of thirty (30) Business Days following service of such notice:
(a) the breach has not been remedied or is not capable of remedy;
(b) the Relevant Consortium Member has not given an undertaking to remedy the breach on terms satisfactory to the GLA where it has been permitted to do so by the GLA; or
(c) if it becomes apparent that the Project Default is incapable of remedy either within such period or at all, the GLA shall be entitled on giving not less than ten (10) Business Days' notice to the Lead Partner and the Relevant Consortium Member and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39):
(d) insofar as it relates to the Named Project to which the Project Default relates; and/or
(e) insofar as it relates to the Relevant Consortium Member responsible for the Project Default. when the Lead Partner (on behalf of the Consortium) will Profile any Unprofiled Indicative Dwellings into Named Projects; and how, once all Named Projects have been delivered, the average of the grant rates which have been or will be allocated for the Named (Indicative) Projects by Tenure Type will not exceed the Average Grant Rates. If the GLA is not satisfied (acting reasonably) with the information provided pursuant to Condition 20.7 the GLA shall be entitled (in its absolute discretion) on giving not less than ten (10) Business Days' notice to the Lead Partner, to: reduce the Named Project Grant allocated to each AHP Dwelling on OPS by Xxxxxx Type and comprised in a Named (Indicative) Project by an amount equal to the sum of the following calculation (Deduction Amount) (or such other calculation as may be agreed in writing between the parties from time to time): 𝐷𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛 𝐴𝑚𝑜19.2.16 and𝑢𝑛𝑡 = Where:
Appears in 1 contract
Samples: Grant Agreement
Default Events and Termination. 19.1 Each of the following circumstances shall constitute a General Default: :
19.1.1 an Insolvency Event has occurred in relation to a Consortium Member;
19.1.2 a Consortium Member that is an LA Provider is subject to a Section 15 Direction which has or will have a Material Adverse Effect;
19.1.3 a Prohibited Act has been committed by or on behalf of a Consortium Member (in respect of which the Waiver Condition has not been satisfied);
19.1.4 a Consortium Member ceases operating;
19.1.5 a Consortium Member's status as a Registered Provider is lost, relinquished or removed; or
19.1.6 the Lead Partner's Investment Partner status is lost, relinquished or removed.
19.2 Each of the following circumstances shall constitute a Project Default: :
19.2.1 failure by the Relevant Consortium Member to comply with its obligations in Condition 11 and/or any information supplied in connection with its obligations in Condition 11, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate;
19.2.2 a breach of the Open Book Obligations; ;
19.2.3 the Relevant Consortium Member is unable to make the applicable representations and give the warranties set out in this Agreement Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; ;
19.2.4 the Regulator directs or recommends that grant is not to be paid to the Lead Partner or to the Relevant Consortium Member; ;
19.2.5 a breach of the Relevant Consortium Member's obligations under Condition 12;
19.2.6 any Early Start Project Default;
19.2.7 a Consortium Member (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2021-262016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2021-262016/21's or the Mayor of London into disrepute; ;
19.2.8 failure by the Relevant Consortium Member to comply with any repayment obligation under this Agreement; ;
19.2.9 failure or inability of the Relevant Consortium Member to comply with the requirements of Conditions 13.1 to 13.4 (inclusive);
19.2.10 a breach of Condition 9 or 10;
19.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d);
19.2.12 a breach of Condition 19.8;
19.2.13 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; any of the following events or circumstances occur:
(a) a breach of the Estate Regeneration Requirement;
(b) the Relevant Consortium Member has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Affordable Housing Capital Funding Guide);
(c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; or
(d) in the GLA's opinion the Relevant Consortium Member has partitioned a Site in order to avoid the application of the Resident Ballot Requirement; the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; the Relevant Consortium Member has failed to satisfy the Additionality Condition in respect of a Named Project; the Relevant Consortium Member has made any representation or given any warranty under Condition 6.2 that is inaccurate, untrue or misleading; or failure to agree revised Milestone Dates pursuant to Condition 8.1.2(b). 19.3 The Relevant Consortium Member must notify the GLA immediately in writing on the occurrence of a Default Event. .
19.4 Without prejudice to Conditions 20.5 19.5 or 20.619.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project or Additional Project on OPS. an .
19.5 On the occurrence specified in Condition 20.2.5, 20.2.8, 20.2.9, 20.2.16 and 20.2.17, of a General Default the GLA shall on the service of written notice (subject to the Lead Partner and the Relevant Consortium Member Condition 19.8) be entitled forthwith and without any liability to any Consortium Member but without determining the whole of terminate this Agreement to terminate the Agreement (subject always to Condition 39):Agreement.
(a) insofar as it relates to the Named Project to which the 19.6 Where a Project Default relates; and/or
(b) insofar as it relates to the Relevant Consortium Member responsible for the Project Default an occurrence specified in Condition 20.2.1, 20.2.2, 20.2.3, 20.2.4, 20.2.6, 20.2.7 or 20.2.10 to 20.2.15 inclusive the GLA may serve notice on the Lead Partner (with a copy provided to the Relevant Consortium Member) requiring the Lead Partner to procure that the Relevant Consortium Member remedies the breach and if within a period of thirty (30) Business Days following service of such noticeis:
(a) the breach has not been remedied or is not capable of remedy;
(b) the Relevant Consortium Member has not given an undertaking to remedy the breach on terms satisfactory to the GLA where it has been permitted to do so by the GLA; or
(c) if it becomes apparent that the Project Default is incapable of remedy either within such period or at all, the GLA shall be entitled on giving not less than ten (10) Business Days' notice to the Lead Partner and the Relevant Consortium Member and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39):
(d) insofar as it relates to the Named Project to which the Project Default relates; and/or
(e) insofar as it relates to the Relevant Consortium Member responsible for the Project Default. when the Lead Partner (on behalf of the Consortium) will Profile any Unprofiled Indicative Dwellings into Named Projects; and how, once all Named Projects have been delivered, the average of the grant rates which have been or will be allocated for the Named (Indicative) Projects by Tenure Type will not exceed the Average Grant Rates. If the GLA is not satisfied (acting reasonably) with the information provided pursuant to Condition 20.7 the GLA shall be entitled (in its absolute discretion) on giving not less than ten (10) Business Days' notice to the Lead Partner, to: reduce the Named Project Grant allocated to each AHP Dwelling on OPS by Xxxxxx Type and comprised in a Named (Indicative) Project by an amount equal to the sum of the following calculation (Deduction Amount) (or such other calculation as may be agreed in writing between the parties from time to time): 𝐷𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛 𝐴𝑚𝑜𝑢𝑛𝑡 = Where:
Appears in 1 contract
Default Events and Termination. Each of the following circumstances shall constitute a General Default: Each of the following circumstances shall constitute a Project Default: a breach of the Open Book Obligations; the Relevant Consortium Member Grant Recipient is unable to make the applicable representations and give the warranties set out in this Agreement and there is a resulting Material Adverse Effect; the Regulator directs or recommends that grant is not to be paid to the Lead Partner or to Grant Recipient; the Relevant Consortium Member; a Consortium Member Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2021-26's or the Mayor of London's reputation or brings the GLA, the AHP 2021-26's or the Mayor of London into disrepute; failure by the Relevant Consortium Member Grant Recipient to comply with any repayment obligation under this Agreement; any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; any of the following events or circumstances occur:
(a) a breach of the Estate Regeneration Requirement;
(b) the Relevant Consortium Member Grant Recipient has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Affordable Housing Capital Funding Guide);
(c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; or
(d) in the GLA's opinion the Relevant Consortium Member Grant Recipient has partitioned a Site in order to avoid the application of the Resident Ballot Requirement; the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; the Relevant Consortium Member Grant Recipient has failed to satisfy the Additionality Condition in respect of a Named Project; the Relevant Consortium Member Grant Recipient fails to satisfy or, in the opinion of GLA acting reasonably, is unlikely (having regard to the relevant Planning Permission relating to delivery of the dwellings on the Development Site) to satisfy the Affordable Percentage Condition in respect of a Named Project; the Grant Recipient has made any representation or given any warranty under Condition 6.2 that is inaccurate, untrue or misleading; or failure to agree revised Milestone Dates pursuant to Condition 8.1.2(b). The Relevant Consortium Member Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. Without prejudice to Conditions 20.5 19.5 or 20.619.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. an occurrence specified in Condition 20.2.5Condition, 20.2.819.2.5, 20.2.919.2.8, 20.2.16 and 20.2.1719.2.9, the GLA shall on the service of written notice to the Lead Partner and the Relevant Consortium Member be entitled forthwith and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39):
(a) insofar as it relates to the Named Project to which the Project Default relates; and/or
(b) insofar as it relates to the Relevant Consortium Member responsible for the Project Default an occurrence specified in Condition 20.2.1, 20.2.2, 20.2.3, 20.2.4, 20.2.6, 20.2.7 or 20.2.10 to 20.2.15 inclusive the GLA may serve notice on the Lead Partner (with a copy provided to the Relevant Consortium Member) requiring the Lead Partner to procure that the Relevant Consortium Member remedies the breach and if within a period of thirty (30) Business Days following service of such notice:
(a) the breach has not been remedied or is not capable of remedy;
(b) the Relevant Consortium Member has not given an undertaking to remedy the breach on terms satisfactory to the GLA where it has been permitted to do so by the GLA; or
(c) if it becomes apparent that the Project Default is incapable of remedy either within such period or at all, the GLA shall be entitled on giving not less than ten (10) Business Days' notice to the Lead Partner and the Relevant Consortium Member and without any liability to any Consortium Member but without determining the whole of this Agreement to terminate the Agreement (subject always to Condition 39):
(d) insofar as it relates to the Named Project to which the Project Default relates; and/or
(e) insofar as it relates to the Relevant Consortium Member responsible for the Project Default. when the Lead Partner (on behalf of the Consortium) will Profile any Unprofiled Indicative Dwellings into Named Projects; and how, once all Named Projects have been delivered, the average of the grant rates which have been or will be allocated for the Named (Indicative) Projects by Tenure Type will not exceed the Average Grant Rates. If the GLA is not satisfied (acting reasonably) with the information provided pursuant to Condition 20.7 the GLA shall be entitled (in its absolute discretion) on giving not less than ten (10) Business Days' notice to the Lead Partner, to: reduce the Named Project Grant allocated to each AHP Dwelling on OPS by Xxxxxx Type and comprised in a Named (Indicative) Project by an amount equal to the sum of the following calculation (Deduction Amount) (or such other calculation as may be agreed in writing between the parties from time to time): 𝐷𝑒𝑑𝑢𝑐𝑡𝑖𝑜𝑛 𝐴𝑚𝑜19.2.16 and𝑢𝑛𝑡 = Where:
Appears in 1 contract
Samples: Grant Agreement
