Common use of GAG AND EAG Clause in Contracts

GAG AND EAG. 4.1 The Secretary of State agrees to pay GAG and EAG to the Company in relation to the Academy in accordance with the Master Agreement. 4.2 The Company shall use the GAG funding it receives prudently in order to cover the normal reasonable running costs of the Academy including, but not limited to, payments which fall due pursuant to the School Agreement and/or the Principal Agreement. 4.3 In the event that the Secretary of State pays the LA any sums in connection with a Normal Payment Matter pursuant to the Principal Agreement the Secretary of State may, subject to clause 4.4, set off or xxxxx an amount equal to such sums from any GAG payable to the Company in respect of the Academy pursuant to this Agreement in the following financial year. 4.4 Before exercising its right of set off or abatement pursuant to clause 4.3 above, the Secretary of State shall: 4.4.1 notify the Company that such sums have been paid by the Secretary of State to the LA; 4.4.2 take into account (acting reasonably) any representations made by the Company providing reasons why the relevant Normal Payment Matters liabilities were not settled; 4.4.3 take into account (acting reasonably) any representations made by the Company as to the nature of the Normal Payment Matters under consideration and whether they properly fall within the definition of Normal Payment Matters having regard to the costs that other academies may normally be expected to bear from GAG funding.

GAG AND EAG. 4.1 6.1 The Secretary of State agrees to pay GAG and EAG to the Company in relation to the Academy in accordance with the Master Agreement. 4.2 6.2 The Company shall use the GAG funding it receives prudently in order to cover the normal reasonable running costs of the Academy including, but not limited to, payments which fall due pursuant to the School Agreement and/or the Principal Agreement. 4.3 6.3 In the event that the Secretary of State pays the LA any sums in connection with a Normal Payment Matter pursuant to the Principal Agreement the Secretary of State may, subject to clause 4.46.4, set off or xxxxx an amount equal to such sums from any GAG payable to the Company in respect of the Academy pursuant to this Agreement in the following financial year. 4.4 6.4 Before exercising its right of set off or abatement pursuant to clause 4.3 6.3 above, the Secretary of State shall: 4.4.1 6.4.1 notify the Company that such sums have been paid by the Secretary of State to the LA; 4.4.2 6.4.2 take into account (acting reasonably) any representations made by the Company providing reasons why the relevant Normal Payment Matters liabilities were not settled; 4.4.3 6.4.3 take into account (acting reasonably) any representations made by the Company as to the nature of the Normal Payment Matters under consideration and whether they properly fall within the definition of Normal Payment Matters having regard to the costs that other academies may normally be expected to bear from GAG funding.

GAG AND EAG. 4.1 The Secretary of State agrees to pay GAG and EAG to the Company in relation to the Academy in accordance with the Master Agreement. 4.2 The Company shall use the GAG funding it receives prudently in order to cover the normal reasonable running costs of the Academy including, but not limited to, payments which fall due pursuant to the Development and School Agreement and/or the Principal Agreement. 4.3 In the event that the Secretary of State pays the LA any sums in connection with a Normal Payment Matter pursuant to the Principal Agreement the Secretary of State may, subject to clause 4.4, set off or xxxxx an amount equal to such sums from any GAG payable to the Company in respect of the Academy pursuant to this Agreement in the following financial year. 4.4 Before exercising its right of set off or abatement pursuant to clause 4.3 above, the Secretary of State shall: 4.4.1 notify the Company that such sums have been paid by the Secretary of State to the LA; 4.4.2 take into account (acting reasonably) any representations made by the Company providing reasons why the relevant Normal Payment Matters liabilities were not settled; 4.4.3 take into account (acting reasonably) any representations made by the Company as to the nature of the Normal Payment Matters under consideration and whether they properly fall within the definition of Normal Payment Matters having regard to the costs that other academies may normally be expected to bear from GAG funding.

GAG AND EAG. 4.1 The Secretary of State agrees to pay GAG and EAG to the Company in relation to the Academy in accordance with the Master Agreement. 4.2 The Company shall use the GAG funding it receives prudently in order to cover the normal reasonable running costs of the Academy including, but not limited to, to payments which fall due pursuant to the School Agreement and/or the Principal Agreement. 4.3 In the event that the Secretary of State pays the LA any sums in connection with a Normal Payment Matter pursuant to the Principal Agreement the Secretary of State may, subject to clause 4.4, set off or xxxxx an amount equal to such sums from any GAG payable to the Company in respect of the Academy pursuant to this Agreement in the following financial year. 4.4 Before exercising its right of set off or abatement pursuant to clause 4.3 above, the Secretary of State shall: 4.4.1 notify the Company that such sums have been paid by the Secretary of State to the LA; 4.4.2 take into account (acting reasonably) any representations made by the Company providing reasons why the relevant Normal Payment Matters liabilities were not settled; 4.4.3 take into account (acting reasonably) any representations made by the Company as to the nature of the Normal Payment Matters under consideration and whether they properly fall within the definition of Normal Payment Matters having regard to the costs that other academies may normally be expected to bear from GAG funding.