Disposal of any Asset Sample Clauses

Disposal of any Asset. (a) During the Useful Economic Life of an Asset the Grant Recipient must not dispose of any interest in such Asset without the prior written consent of the Secretary of State. If the Secretary of State grants consent to a Disposal, such consent may be subject to satisfaction of certain conditions, to be determined by the Secretary of State. (b) Where the Grant Recipient disposes of any interest in any Asset without the prior written consent of the Secretary of State, then the proceeds of the Disposal (limited to the total amount paid by the Secretary of State to the Grant Recipient under this Funding Agreement) shall be held on trust by the Grant Recipient for the benefit of the Secretary of State.‌ (c) The liability under clause 8.3(b) is separate from the liability to comply with any decision of the Secretary of State under clause 12 to require repayment of the whole or any part of the amount paid of the Grant, to the Grant Recipient (but subject to clause 27.12 below). (d) The Grant Recipient shall provide to the Secretary of State as part of the progress report referred to in clause 5.4(i) information in relation to any Disposals which it either intends to make or has made with the prior written consent of the Secretary of State at the date of such progress report.
Sample 1Sample 2See All (6)
AutoNDA by SimpleDocs
Disposal of any Asset. The conditions of this clause 8.3 shall apply throughout the Useful Economic Life of any Asset: (a) In respect of any Planned Disposal, the Grant Recipient need not seek the prior written consent of the Secretary of State to such Planned Disposal, provided the Grant Recipient can demonstrate that the disposal meets the definition of a Planned Disposal as agreed in accordance with this Funding Agreement [and provided that the Grant Recipient has procured from the disponee a deed of covenant in favour of the Secretary of State in similar terms to the Deed of Covenant in accordance with clause 8.4(b) below]. (b) Further to clause 8.3(a) above, where the Grant Recipient intends to make a Planned Disposal the Grant Recipient shall notify to the principal contact listed at paragraph 2 of the Project Specific Conditions at Schedule 1 of the Funding Agreement and any other party nominated by the Secretary of State in good time prior to such Planned Disposal, supplying evidence that such disposal meets the definition of a Planned Disposal as set out herein, and the Secretary of State shall promptly supply to the Grant Recipient a letter addressed to the relevant Land Registry consenting to the disposal. (c) [In respect of any Disposal which is not a Planned Disposal (including any Lease Disposal which is not a Planned Disposal), the Grant Recipient must not, during the Useful Economic Life of an Asset, dispose of any interest in any Asset without the prior written consent of the Secretary of State.] [The Grant Recipient must not Dispose of any interest in any Asset without the prior written consent of the Secretary of State.] If the Secretary of State grants consent to a Disposal, such consent may be subject to satisfaction of certain conditions, to be determined by the Secretary of State. (d) Where the Grant Recipient Disposes of any interest in any Asset without the prior written consent of the Secretary of State, then the proceeds of the Disposal (limited to the total amount paid by the Secretary of State to the Grant Recipient under this Funding Agreement) shall be held on trust by the Grant Recipient for the benefit of the Secretary of State.‌ (e) The liability under clause 0 is separate from the liability to comply with any decision of the Secretary of State under clause 12 to require repayment of the whole or any part of the amount paid of the Grant, to the Grant Recipient (but subject to clause 27.12 below). (f) The Grant Recipient shall provide to the Secr...
Sample 1See All (4)

Related to Disposal of any Asset

  • Disposal of Property a) Prior to disposal of any property purchased with funds from this Contract or any predecessor Contract, Subrecipient must obtain approval from CDA for reportable property. Disposition, which includes sale, trade-in, discarding, or transfer to another agency may not occur until approval is received from CDA. Subrecipient shall email to County the electronic version of the Request to Dispose of Property (CDA 248). CDA will then instruct County on disposition of the property, and County will notify Subrecipient. Once approval for disposal has been received from CDA, and the County has reported to CDA the Property Survey Report’s (STD 152) Certification of Disposition, the item(s) shall be removed from Subrecipient’s inventory report. b) Subrecipient must remove all confidential, sensitive, or personal information from CDA property prior to disposal, including removal or destruction of data on computing devices with digital memory and storage capacity. This includes, but is not limited to magnetic tapes, flash drives, personal computers, personal digital assistants, cell or smart phones, multi-function printers, and laptops.

  • Disposal of Waste The licensee shall have to make their own arrangements for daily disposal of waste (after segregation of dry and wet waste) out of Maha-Metro premises. The wastes shall be dumped at sites approved by concerned civic agencies to ensure perfect cleanliness. If any kind of waste is found disposed off on Maha-Metro land or premises a penalty/fine of Rs. 5000/- per instance shall be imposed by Maha-Metro for each occasion.

  • Disposal of Assets Where the Academy Trust acquires assets for a nil consideration or at an under value it shall be treated for the purpose of this Agreement as having incurred expenditure equal to the market value of those assets at the time that they were acquired. This provision shall not apply to assets transferred to the Academy Trust at nil or nominal consideration and which were previously used for the purposes of an Academy and/or were transferred from an LA, the value of which assets shall be disregarded.

  • Sale of Another Property Buyer’s performance under this Agreement: (check one)

  • No disposal of assets The Borrower will not transfer, lease or otherwise dispose of: (a) all or a substantial part of its assets, whether by one transaction or a number of transactions, whether related or not; or (b) any debt payable to it or any other right (present, future or contingent right) to receive a payment, including any right to damages or compensation.

  • Disposal of Transmitted Items Upon your receipt of a confirmation approval from Credit Union that we have received an image that you have transmitted, you agree to retain the check for at least 60 calendar days from the date of the image transmission. After 60 days, you agree to destroy the check that you transmitted as an image, mark it "VOID", or otherwise render it incapable of further transmission, deposit, or presentment. During the time the retained check is available, you agree to promptly provide it to Credit Union upon request.

  • Method of Realizing Upon the Pledged Property Other Remedies. Upon the occurrence of an Event of Default, in addition to any rights and remedies available at law or in equity, the following provisions shall govern the Secured Party's right to realize upon the Pledged Property: (a) Any item of the Pledged Property may be sold for cash or other value in any number of lots at brokers board, public auction or private sale and may be sold without demand, advertisement or notice (except that the Secured Party shall give the Company ten (10) days' prior written notice of the time and place or of the time after which a private sale may be made (the "Sale Notice")), which notice period is hereby agreed to be commercially reasonable. At any sale or sales of the Pledged Property, the Company may bid for and purchase the whole or any part of the Pledged Property and, upon compliance with the terms of such sale, may hold, exploit and dispose of the same without further accountability to the Secured Party. The Company will execute and deliver, or cause to be executed and delivered, such instruments, documents, assignments, waivers, certificates, and affidavits and supply or cause to be supplied such further information and take such further action as the Secured Party reasonably shall require in connection with any such sale. (b) Any cash being held by the Secured Party as Pledged Property and all cash proceeds received by the Secured Party in respect of, sale of, collection from, or other realization upon all or any part of the Pledged Property shall be applied as follows: (i) to the payment of all amounts due the Secured Party for the expenses reimbursable to it hereunder or owed to it pursuant to Section 8.3 hereof; (ii) to the payment of the Obligations then due and unpaid. (iii) the balance, if any, to the person or persons entitled thereto, including, without limitation, the Company. (c) In addition to all of the rights and remedies which the Secured Party may have pursuant to this Agreement, the Secured Party shall have all of the rights and remedies provided by law, including, without limitation, those under the Uniform Commercial Code. (i) If the Company fails to pay such amounts due upon the occurrence of an Event of Default which is continuing, then the Secured Party may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company and collect the monies adjudged or decreed to be payable in the manner provided by law out of the property of Company, wherever situated. (ii) The Company agrees that it shall be liable for any reasonable fees, expenses and costs incurred by the Secured Party in connection with enforcement, collection and preservation of the Transaction Documents, including, without limitation, reasonable legal fees and expenses, and such amounts shall be deemed included as Obligations secured hereby and payable as set forth in Section 8.3 hereof.

  • Total Realized Loss (or Amount of Any Gain The total derived from subtracting line 22 from 13. If the amount represents a realized gain, show the amount in parenthesis ( ). Prepared by: __________________ Date: _______________ Phone: ______________________ Email Address:_____________________ Servicer Loan No. Servicer Name Servicer Address XXXXX FARGO BANK, N.A. Loan No._____________________________ Borrower's Name: _________________________________________________________ Property Address: _________________________________________________________

  • Nature of Disposition Disposition shall be by destruction or deletion of data. Disposition shall be by a transfer of data. The data shall be transferred to the following site as follows:

  • Nature of Return or Disposition Disposition shall be by destruction or deletion of data. Return shall be by a transfer of data. The data shall be transferred to the following site as follows:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!