Common use of Named Projects Clause in Contracts

Named Projects. The Grant Recipient must ensure: that the Annual Committed Number of Unprofiled Indicative Dwellings within a Start Year are incorporated into one or more Named Projects and uploaded onto OPS by no later than the 30 June in the relevant Start Year The Grant Recipient represents and warrants to the GLA in relation to each Named Project that: (a) is in its opinion (acting reasonably) deliverable in accordance with the Named Project Delivery Timetable; and (b) comprises no Public Sector Funding beyond that identified in the Named Project Details; the Grant Recipient: (a) possesses or will possess a Secure Legal Interest in the Site; (b) has obtained all necessary Consents as are then required for the lawful development and/or Rehabilitation of the Named Project and for the delivery of the Named Project in accordance with the Named Project Details; (c) has complied with all applicable requirements of the Affordable Housing Capital Funding Guide in relation to the Named Project; (d) is not subject to any Section 15 Direction nor do any circumstances exist which would permit such a direction to be issued; and (e) has not nor have any of its officers made a Section 114 Report nor is it aware of any circumstances which would give rise to the making of a Section 114 Report; the rent levels for any: (a) SR Dwelling within the Named Project shall be set at or below a rent calculated in accordance with the formula for calculating social rents set out in Legislation and (to the extent applicable) in the Rent Standard applicable at the point of letting; and (b) LLR Dwelling within the Named Project will be set at or below the LLR Rent Levels applicable at the point of letting; the Additionality Condition is satisfied and the Affordable Percentage Condition is or will be satisfied at Practical Completion; it is making proper progress against its Indicative Allocation, assessed by reference to the Grant Recipient's progress against: (a) its annual Profiling of the Annual Committed Number set out on OPS; (b) the number of AHP Dwellings comprised within Named (Indicative) Projects which have achieved Start on Site; and the grant attributed to each AHP Dwelling comprising any Named (Indicative) Project will not prejudice the ability of the Grant Recipient to ensure that the average of the grant rates for the AHP Dwellings delivered or to be delivered would be consistent with the Average Grant Rate for each Tenure Type having regard to paragraph 16 of the Agreed Principles. In exceptional circumstances, the GLA may consider providing an additional tranche of funding for a Named Project outside of the Tranches. In allowing the Grant Recipient to claim an additional tranche (which shall be in GLA's absolute discretion), the GLA shall be entitled to require the Grant Recipient to make additional representations and warranties as a condition of such claim. Any claim for additional tranche shall have due regard to paragraph 12 of Part 1 of Schedule 1 and GLA's rights under Condition 6.3. Under no circumstances shall the GLA be obliged to accept any Named Project if the GLA (acting reasonably) believes that it does not, will not or is unlikely to have sufficient financial resources available to it (taking account inter alia of its commitments under the AHP 2021-26 or other programme commitments) to provide Named Project Grant in relation to the relevant project.

Named Projects. The Grant Recipient must ensure: that the Annual Committed Number of Unprofiled Indicative Dwellings within a Start Year are incorporated into one or more Named Projects and uploaded onto OPS by no later than the 30 June in the relevant Start Year The Grant Recipient represents and warrants to the GLA in relation to each Named Project that: (a) is in its opinion (acting reasonably) deliverable in accordance with the Named Project Delivery Timetable; and (b) comprises no Public Sector Funding beyond that identified in the Named Project Details; the Grant Recipient: (a) possesses or will possess a Secure Legal Interest in the Site; (b) has obtained all necessary Consents as are then required for the lawful development and/or Rehabilitation of the Named Project and for the delivery of the Named Project in accordance with the Named Project Details;; and (c) has complied with all applicable requirements of the Affordable Housing Capital Funding Guide in relation to the Named Project; (d) is not subject to any Section 15 Direction nor do any circumstances exist which would permit such a direction to be issued; and (e) has not nor have any of its officers made a Section 114 Report nor is it aware of any circumstances which would give rise to the making of a Section 114 Report; the rent levels for any: (a) SR Dwelling within the Named Project shall be set at or below a rent calculated in accordance with the formula for calculating social rents set out in Legislation and (to the extent applicable) in the Rent Standard applicable at the point of letting; and (b) LLR Dwelling within the Named Project will be set at or below the LLR Rent Levels applicable at the point of letting; the Additionality Condition is satisfied and the Affordable Percentage Condition is or will be satisfied at Practical Completion; it is making proper progress against its Indicative Allocation, assessed by reference to the Grant Recipient's progress against: (a) its annual Profiling of the Annual Committed Number set out on OPS; (b) the number of AHP Dwellings comprised within Named (Indicative) Projects which have achieved Start on Site; and the grant attributed to each AHP Dwelling comprising any Named (Indicative) Project will not prejudice the ability of the Grant Recipient to ensure that the average of the grant rates for the AHP Dwellings delivered or to be delivered would be consistent with the Average Grant Rate for each Tenure Type having regard to paragraph 16 15 of the Agreed Principles. In exceptional circumstances, the GLA may consider providing an additional tranche of funding for a Named Project outside of the Tranches. In allowing the Grant Recipient to claim an additional tranche (which shall be in GLA's absolute discretion), the GLA shall be entitled to require the Grant Recipient to make additional representations and warranties as a condition of such claim. Any claim for additional tranche shall have due regard to paragraph 12 of Part 1 of Schedule 1 and GLA's rights under Condition 6.3. Under no circumstances shall the GLA be obliged to accept any Named Project if the GLA (acting reasonably) believes that it does not, will not or is unlikely to have sufficient financial resources available to it (taking account inter alia of its commitments under the AHP 2021-26 or other programme commitments) to provide Named Project Grant in relation to the relevant project.