Common use of Outright Sale of Land and Buildings Clause in Contracts

Outright Sale of Land and Buildings. 2.1 Outright sale includes both sale on a freehold or a leasehold basis. The gross sale receipt received by the Landlord must not be below a valid valuation by an Independent Qualified Valuer. 2.2 The net sale receipt is the gross sale receipt less the eligible deductions, which are: 2.2.1 the Deemed Loan Debt 2.2.2 the reasonable valuation fees and expenses and 2.2.3 reasonable legal fees and expenses of the disposal. 2.3 The Landlord may not deduct any administration allowance nor the cost of demolition (if any) from gross sales receipts if it sells the site. 2.4 If the net sale receipt is less than the attributable Financial Assistance, the shortfall may (with the Agency's consent) be written off by the Landlord. 2.5 Where grant is to be written off by the Landlord, it must provide such supporting documentation and information to the Agency as the Agency may reasonably require.

Outright Sale of Land and Buildings. 2.1 Outright sale includes both sale on a freehold or a leasehold basis. The gross sale receipt received by the Landlord Grant Recipient must not be below a valid valuation by an Independent Qualified ValuerValuer . 2.2 The net sale receipt is the gross sale receipt less the eligible deductions, which are: 2.2.1 the Deemed Loan Debt 2.2.2 the reasonable valuation fees and expenses and 2.2.3 reasonable legal fees and expenses of the disposal. 2.3 The Landlord Grant Recipients may not deduct any administration allowance nor the cost of demolition (if any) from gross sales receipts if it sells the site. 2.4 If the net sale receipt is less than the attributable Financial AssistanceFSG, the shortfall may (with the Agency's consent) be written off by the LandlordGrant Recipient. 2.5 Where grant is to be written off by the LandlordGrant Recipient, it must provide such supporting documentation and information to the Agency as the Agency may reasonably require.

Outright Sale of Land and Buildings. 2.1 Outright sale includes both sale on a freehold or a leasehold basis. The gross sale receipt Gross Sale Receipt received by the Landlord Grant Recipient must not be below a valid valuation by an Independent Qualified Valuer. 2.2 The net sale receipt Net Sale Receipt is the gross sale receipt Gross Sale Receipt less the eligible deductions, which are: 2.2.1 the Deemed Loan Debt 2.2.2 the reasonable valuation fees and expenses and 2.2.3 reasonable legal fees and expenses of the disposal. 2.3 The Landlord Grant Recipients may not deduct any administration allowance nor the cost of demolition (if any) from gross sales receipts if it sells the site. 2.4 If the net sale receipt Net Sale Receipt is less than the attributable Financial AssistanceFSG, the shortfall may (with the Agency's consent) be written off by the LandlordGrant Recipient. 2.5 Where grant is to be written off by the LandlordGrant Recipient, it must provide such supporting documentation and information to the Agency as the Agency may reasonably require.