Common use of Designated Capital and Revenue Funding Clause in Contracts

Designated Capital and Revenue Funding. 2A.1 The Recipient's statutory chief finance officer or other officer validly authorised to act on his or her behalf has certified that [words]pounds sterling (£[numbers]) in the 201[ ]-[ ] Financial Year, [words] pounds sterling (£[numbers] in the 2015-16 Financial Year and [words] pounds sterling (£[numbers]) in the 201[ ]-[ ] Financial Year will be used solely as a contribution to revenue expenditure incurred in relation to the Project Objectives such certification being made on the basis that the Recipient’s determination of capital expenditure accords fully with all laws and best practice, is estimated to deliver benefits that will accrue over a period of 15 years on average and on the basis that it will recorded in the Recipient’s accounts in this manner. A copy of the certification is attached at Schedule 8 to this Agreement.

Designated Capital and Revenue Funding. 2A.1 The Recipient's statutory chief finance officer or other officer validly authorised to act on his or her behalf has certified that that: (a) [words]pounds sterling (£[numbers]) in the 201[ ]-[ ] Financial Year, [words] pounds sterling (£[numbers] in the 2015-16 Financial Year and [words] pounds sterling (£[numbers]) in the 201[ ]-[ ] Financial Year will be used solely as a contribution to revenue expenditure in the [201[ ]-[ ] Financial Year]; and (b) [words]pounds sterling (£[numbers]) will be used solely as a contribution to capital expenditure in the [201[ ]-[ ] Financial Year], incurred in relation to the Project Objectives such certification being made on the basis that the Recipient’s determination of capital expenditure accords fully with all laws and best practice, is estimated to deliver benefits that will accrue over a period of 15 years on average and on the basis that it will recorded in the Recipient’s accounts in this manner. A copy of the certification is attached at Schedule 8 to this Agreement.