Earmarked Annual Grant. Earmarked Annual Grant (“EAG”) may be paid by the Secretary of State to the Company in respect of either Recurrent Expenditure or Capital Expenditure for such specific purposes as may from time to time be agreed between the Secretary of State and the Company and as described in the relevant funding letter. The Company shall only spend EAG in accordance with the scope, terms and conditions of the grant set out in the relevant funding letter.
Appears in 4 contracts
Samples: Master Funding Agreement, Funding Agreement, Funding Arrangements for Academies and Free Schools
Earmarked Annual Grant. Earmarked Annual Grant (“EAG”) may be paid by the Secretary of State to the Company in respect of either Recurrent Expenditure or Capital Expenditure for such specific purposes as may from time to time be agreed between the Secretary of State and the Company and as described in the relevant funding letterAnnual Letter of Funding for that Academy provided that where the EAG relates to Capital Expenditure the Trustees and/or the LA where applicable, give their consent in advance to such purposes in writing. The Company shall only spend EAG in accordance with the scope, terms and conditions of the grant set out in the relevant funding letterAnnual Letter of Funding.
Appears in 3 contracts
Samples: Master Funding Agreement, Master Funding Agreement, Master Funding Agreement
Earmarked Annual Grant. Earmarked Annual Grant (“EAG”) may shall be paid by the Secretary of State to the Company in respect of either Recurrent Expenditure or Capital Expenditure for such specific purposes as may from time to time be agreed between the Secretary of State and the Company and as described in the relevant funding letter. The Company shall only spend EAG in accordance with the scope, terms and conditions of the grant set out in the relevant funding letter.
Appears in 1 contract
Samples: Master Funding Agreement
