Common use of GLA INTEREST IN CAPITAL ASSETS Clause in Contracts

GLA INTEREST IN CAPITAL ASSETS. 27.1 Where a Capital Asset is disposed of we may require you to reimburse us with the actual or estimated open market value of the Capital Asset at the time of disposal less any necessary sale expenses reasonably incurred. For the avoidance of doubt where the Capital Asset was partly Grant funded we may require the reimbursement of the percentage of the net sale value which represents the proportion which the initial Grant contribution bears to the original purchase price (excluding VAT). 27.2 Unless otherwise agreed by us all disposals of Capital Assets shall be at the best price reasonably obtainable based on an open market valuation evidenced in writing. 27.3 The provisions of this clause 27 shall survive termination or expiry of this Agreement.

GLA INTEREST IN CAPITAL ASSETS. 27.1 Where a Capital Asset is disposed of we may require you to reimburse us with the actual or estimated open market value of the Capital Asset at the time of disposal less any necessary sale expenses reasonably incurred. For the avoidance of doubt where the Capital Asset was partly Grant funded we may require the reimbursement of the percentage of the net sale value which represents the proportion which the initial Grant contribution bears to the original purchase price (excluding VAT). 27.2 Unless otherwise agreed by us all disposals of Capital Assets shall be at the best price reasonably obtainable based on an open market valuation evidenced in writing. 27.3 The provisions of this clause 27 shall survive termination or expiry of this Agreement.