Common use of Repayment of Grant Clause in Contracts

Repayment of Grant. 8.1. Without prejudice to any other term of this Agreement, the Council reserves the right to recover from the Grant Recipient the Grant or such part thereof as is determined in accordance with clause 8.2 (the “Recoverable Amount”) in circumstances where: 8.1.1. the Agreement is terminated in accordance with the provisions of Clause 15 (Termination); 8.1.2. the Grant has been paid to the Grant Recipient on the basis of a misrepresentation made by or on behalf of the Grant Recipient; 8.1.3. the Grant has been paid to the Grant Recipient but the Council becomes aware that the Affordable Housing Units are not fit for the Agreed Purposes and cannot reasonably be used for its Agreed Purposes; 8.1.4. disposal of the Affordable Housing Units in whole or in part by the Grant Recipient to another party for any use other than the Agreed Purposes and/or where the other party does not enter into a nominations agreement with the Council on substantially the same terms as the Nominations Agreement or otherwise on terms satisfactory to the Council; 8.1.5. the Affordable Housing Units are not completed by the Longstop Date; 8.1.6. the Grant paid by the Council is greater than the total qualifying grant proportion of the actual Total Development Costs; or 8.1.7. the Council has made an overpayment or has made a payment in error to the Grant Recipient; 8.1.8. The affordable housing unit tenant exercises any statutory right to buy or equivalent right to acquire ownership of the affordable housing unit. 8.2. In the circumstances set out in: 8.2.1. Clauses 8.1.1 to 8.1.5 the Recoverable Amount shall be a sum equivalent to the proportion of Grant paid to the Grant Recipient; 8.2.2. Clauses 8.1.6 or 8.1.7, the Recoverable Amount shall be a sum equal to the amount of the overpayment, the sum paid in error or the difference between the amount of the Grant actually paid (together with any grant funding provided by other public bodies) and the Development Costs; 8.2.3. Clauses 8.1.8, the Recoverable Amount shall be a sum calculated using the formula A/B x C where A is the number of habitable rooms in the affordable housing unit sold, B is the total number of habitable rooms in the Project delivered with the Grant and C is the total amount of Grant paid to the Grant Recipient for the Project. 8.3. The Grant Recipient shall pay the Recoverable Amount to the Council within twenty one (21) Business Days of demand together with interest at two per centum (2%) above the base rate from time to time of the Barclays Bank Plc such interest to run from the date upon which the Grant (or relevant part thereof) overpayment or payment in error was paid to the Grant Recipient until the date upon which the Council receives the repayment required from the Grant Recipient under this Clause 8. 8.4. Where the Late Payment of Commercial Debts (Interest) Xxx 0000 applies the Parties agree that the rate of interest referred to in Clause 8.3 above shall be a substantial remedy within the meaning of the Late Payment of Commercial Debts (Interest) Xxx 0000. 8.5. Notwithstanding any other term of this Clause 8, where a payment has been made following an administrative error by the Council or overpayment, the Grant Recipient shall not be liable for interest on the amount repayable. 8.6. Where any part of the Grant becomes repayable by the Grant Recipient the Council may, at its sole discretion, agree to waive repayment in part or in whole and/or waive payment of any interest payable under Clause 8.3. The Council shall give due consideration to that part of the works (if any) that has been successfully completed and may impose such reasonable conditions on any waiver as it may see fit.

Repayment of Grant. 8.1. Without prejudice to any other term of this Agreement, the Council reserves the right to recover from the The Grant Recipient the Grant or such part thereof as is determined in accordance with clause 8.2 (the “Recoverable Amount”) in circumstances where: 8.1.1. the Agreement is terminated in accordance with the provisions of Clause 15 (Termination); 8.1.2. the Grant has been paid to the The Grant Recipient on the basis of a misrepresentation made by or on behalf of the The Grant Recipient; 8.1.3. the Grant has been paid to the The Grant Recipient but the Council becomes aware that the Affordable Housing Units are not fit for the Agreed Purposes and cannot reasonably be used for its Agreed Purposes; 8.1.4. disposal of the Affordable Housing Units in whole or in part by the The Grant Recipient to another party for any use other than the Agreed Purposes and/or where the other party does not enter into a nominations agreement with the Council on substantially the same terms as the Nominations Agreement or otherwise on terms satisfactory to the Council; 8.1.5. the Affordable Housing Units are not completed by the Longstop Date; 8.1.6. where the Second Negative Sum is greater than 50% of the Grant (as provided for in clause 6.3); 8.1.7. the Grant paid by the Council is greater than the total qualifying grant proportion of the actual Total Development Coststotal development costs; or 8.1.78.1.8. the Council has made an overpayment or has made a payment in error to the Grant Recipient;THE GRANT RECIPIENT 8.1.88.1.9. The affordable housing unit tenant exercises any statutory right to buy or equivalent right to acquire ownership of the affordable housing unit. . 8.2. In the circumstances set out in: 8.2.1. Clauses 8.1.1 to 8.1.5 the Recoverable Amount shall be a sum equivalent to the proportion of Grant paid to the Grant Recipient; 8.2.2. Clause 8.1.6, the Recoverable Amount shall be the amount by which the Second Negative Sum exceeds the Adjusted First Instalment; and 8.2.3. Clauses 8.1.6 8.1.7 or 8.1.78.1.8, the Recoverable Amount shall be a sum equal to the amount of the overpayment, the sum paid in error or the difference between the amount of the Grant actually paid (together with any grant funding provided by other public bodies) and the Development Costs; 8.2.3. Clauses 8.1.8, the Recoverable Amount shall be a sum calculated using the formula A/B x C where A is the number of habitable rooms in the affordable housing unit sold, B is the total number of habitable rooms in the Project delivered with the Grant and C is the total amount of Grant paid to the Grant Recipient for the Project. 8.3. The Grant Recipient shall pay the Recoverable Amount to the Council within twenty one (21) Business Days of demand together with interest at two per centum (2%) above the base rate from time to time of the Barclays Bank Plc such interest to run from the date upon which the Grant (or relevant part thereof) overpayment or payment in error was paid to the Grant Recipient until the date upon which the Council receives the repayment required from the Grant Recipient under this Clause 8. 8.4. Where the Late Payment of Commercial Debts (Interest) Xxx 0000 applies the Parties agree that the rate of interest referred to in Clause 8.3 above shall be a substantial remedy within the meaning of the Late Payment of Commercial Debts (Interest) Xxx 0000. 8.5. Notwithstanding any other term of this Clause 8, where a payment has been made following an administrative error by the Council or overpayment, the Grant Recipient shall not be liable for interest on the amount repayable. 8.6. Where any part of the Grant becomes repayable by the Grant Recipient the Council may, at its sole discretion, agree to waive repayment in part or in whole and/or waive payment of any interest payable under Clause 8.3. The Council shall give due consideration to that part of the works (if any) that has been successfully completed and may impose such reasonable conditions on any waiver as it may see fit.

Repayment of Grant. 8.1. Without prejudice to any other term of this Agreement, the Council reserves the right to recover from the Grant Recipient the Grant or such part thereof as is determined in accordance with clause 8.2 (the “Recoverable Amount”) in circumstances where: 8.1.1. the Agreement is terminated in accordance with the provisions of Clause 15 (Termination); 8.1.2. the Grant has been paid to the Grant Recipient on the basis of a misrepresentation made by or on behalf of the Grant Recipient; 8.1.3. the Grant has been paid to the Grant Recipient but the Council becomes aware that the Affordable Housing Units are not fit for the Agreed Purposes and cannot reasonably be used for its Agreed Purposes; 8.1.4. disposal of the Affordable Housing Units in whole or in part by the Grant Recipient to another party for any use other than the Agreed Purposes and/or where the other party does not enter into a nominations agreement with the Council on substantially the same terms as the Nominations Agreement or otherwise on terms satisfactory to the Council; 8.1.5. the Affordable Housing Units are not completed by the Longstop Date; 8.1.6. the Grant paid by the Council is greater than the total qualifying grant proportion of the actual Total Development Costs; or 8.1.7. the Council has made an overpayment or has made a payment in error to the Grant Recipient; 8.1.8. The affordable housing unit tenant exercises any statutory right to buy or equivalent right to acquire ownership of the affordable housing unit. 8.2. In the circumstances set out in: 8.2.1. Clauses 8.1.1 to 8.1.5 the Recoverable Amount shall be a sum equivalent to the proportion of Grant paid to the Grant Recipient; 8.2.2. Clauses 8.1.6 or 8.1.7, the Recoverable Amount shall be a sum equal to the amount of the overpayment, the sum paid in error or the difference between the amount of the Grant actually paid (together with any grant funding provided by other public bodies) and the Development Costs; 8.2.3. Clauses 8.1.8, the Recoverable Amount shall be a sum calculated using the formula A/B x C where A is the number of habitable rooms in the affordable housing unit sold, B is the total number of habitable rooms in the Project delivered with the Grant and C is the total amount of Grant paid to the Grant Recipient for the Project. 8.3. The Grant Recipient shall pay the Recoverable Amount to the Council within twenty one (21) Business Days of demand together with interest at two per centum (2%) above the base rate from time to time of the Barclays Bank Plc such interest to run from the date upon which the Grant (or relevant part thereof) overpayment or payment in error was paid to the Grant Recipient until the date upon which the Council receives the repayment required from the Grant Recipient under this Clause 8. 8.4. Where the Late Payment of Commercial Debts (Interest) Xxx 0000 applies the Parties agree that the rate of interest referred to in Clause 8.3 above shall be a substantial remedy within the meaning of the Late Payment of Commercial Debts (Interest) Xxx 0000. 8.5. Notwithstanding any other term of this Clause 8, where a payment has been made following an administrative error by the Council or overpayment, the Grant Recipient shall not be liable for interest on the amount repayable. 8.6. Where any part of the Grant becomes repayable by the Grant Recipient the Council may, at its sole discretion, agree to waive repayment in part or in whole and/or waive payment of any interest payable under Clause 8.3. The Council shall give due consideration to that part of the works (if any) that has been successfully completed and may impose such reasonable conditions on any waiver as it may see fit.