Open Book Obligations. 19.1 The Grant Recipient shall on an Open Book Basis:
Open Book Obligations. 16.1 Each Relevant Consortium Member shall on an Open Book basis:
Open Book Obligations. The Grant Recipient shall on an Open Book Basis: at all times maintain a full record of particulars of all the income (including Public Sector Funding) received and Development Costs incurred by the Grant Recipient in respect of each Named Project; at all times when reasonably required to do so by the GLA, provide a summary of any of the income and Development Costs referred to in Condition 20.1.1 as the GLA may reasonably require to enable it to monitor the performance by the Grant Recipient of its obligations under this Agreement; and at all times provide such access or facilities as the GLA may reasonably require for its representatives to visit any place where the records are held and examine the records maintained under this Condition 20. Compliance with the above shall require the Grant Recipient to keep (and where appropriate to procure that any Subcontractor shall keep) separate books of account (from those relating to any business, activity or operation carried on by the Grant Recipient or Subcontractor and which do not directly relate to any Named Project) in accordance with good accountancy practice with respect to all Named Projects showing in detail: income (including Public Sector Funding and receipts); administrative overheads where directly attributed or where apportioned on a pro rata basis; payments made to Subcontractors; capital and revenue expenditure; VAT incurred on all items of expenditure where the Grant Recipient has received grant under this Agreement in respect of such VAT, including the rate of such VAT and full details of the recovery (or not) by the Grant Recipient of such VAT as input tax from HM Revenue & Customs or other Relevant Authority; and such other items as the GLA may reasonably require to conduct (itself or through a third party) cost audits for verification of income, cost expenditure or estimated expenditure, for the purpose of any of the provisions of this Agreement, and the Grant Recipient shall have (and procure that to the extent expressly agreed the Subcontractors shall have) the books of account evidencing the items listed in this Condition available for inspection by the GLA (and any person appointed pursuant to the dispute resolution provisions at Condition 27 to determine a dispute or otherwise authorised by the GLA) upon reasonable notice, and shall submit a report of these to the GLA as and when requested. The Grant Recipient must provide the GLA with access on an Open Book basis to all information he...
Open Book Obligations. The Grant Recipient shall ensure that for each Firm Scheme it and each Grant Recipient Affiliate keeps on an Open Book Basis (in accordance with generally accepted accounting practice) separate books of account for items relating to the Move On Housing which identify items of Decision Revenue, the Firm Scheme Grant and Decision Allowable Costs and such other items required under this Condition 16. The Grant Recipient shall upon Homes England’s written request: make available upon reasonable notice for Homes England’s inspection (and that of any person referred to in this Condition 16 or in Condition 19 or any person appointed pursuant to Condition 24) the books of account referred to in Condition 16.1 (together with, if specified, such supporting correspondence, agreements, orders, invoices, receipts and other documents) and shall submit a report in relation to the same to Homes England as and when requested to do so; and procure that a representative of Homes England (or any of its auditors or advisors) may on reasonable notice visit any place where any records or information of the type described in this Condition 16 are held or maintained and examine such records or information. The Grant Recipient shall ensure that it and any Grant Recipient Affiliate (at its or their cost) co-operates with Homes England during an SGEI Review and it shall if requested promptly provide Homes England with SGEI Information and such other information, evidence and/or explanation as Homes England may reasonably require.
Open Book Obligations. 16.1 The Grant Recipient shall ensure that it and each Grant Recipient Affiliate keeps on an Open Book Basis (in accordance with generally accepted accounting practice) separate books of account for items relating to the Affordable Housing which identify items of Decision Revenue, the Firm Scheme Grant and Decision Allowable Costs and such other items required under this Condition 16.
Open Book Obligations
