Common use of Sale under Compulsory Purchase Orders Clause in Contracts

Sale under Compulsory Purchase Orders. 3.1 If a property owned by a Grant Recipient is sold under a Compulsory Purchase Order or equivalent mandatory purchase order (CPO) (or where there is written evidence of the threat of a CPO), the amount of Firm Scheme Grant recovered will be calculated in the manner described in the preceding paragraph 2, EXCEPT: 3.1.1 the Gross Sale Receipts will be the HIGHER of either: (a) the receipt from the disposal PLUS any compensation received PLUS any interest received as part of the CPO; or (b) the amount obtained by a qualified valuer acting on behalf of the Grant Recipient in negotiation with the body exercising compulsory powers. 3.1.2 Eligible deductions will only include the Grant Recipient 's valuation and legal fees and costs, and an administrative allowance if the body exercising the CPO has not paid them as part of the CPO process. 3.2 The amount of interest to be included in the calculation of the Gross Sale Receipt will be the interest paid by the acquiring body, less any tax on that interest that the Grant Recipient may have to pay. 3.3 The amount of Firm Scheme Grant recovered will not normally be reduced in respect of any costs incurred by a Grant Recipient in opposing a CPO. 3.4 If the Net Sales Receipts resulting from this calculation are insufficient to enable the recovery of all of the Firm Scheme Grant attributable to that property or land, the amount of Firm Scheme Grant recovered may, at the GLA’s discretion, be reduced by the Shortfall. Grant Recipients should discuss such cases with the GLA's operational area. However, if the Grant Recipient makes net surpluses upon the sale of other Property or land within the same Compulsory Purchase Order, those surpluses must be used to cover the shortfall in whole or in part. 3.5 If a shortfall still remains, the amount of Firm Scheme Grant recovered may (with the GLA's consent) be reduced by the Shortfall, which may (with the GLA's consent) be written off by the Grant Recipient. Where Firm Scheme Grant is to be written off, the Grant Recipient must provide such supporting documentation and information to the GLA as the GLA may reasonably require.

Sale under Compulsory Purchase Orders. 3.1 If a property owned by a Grant Recipient is sold under a Compulsory Purchase Order or equivalent mandatory purchase order (CPO) (or where there is written evidence of the threat of a CPO), the amount of Firm Scheme Grant FSG recovered will be calculated in the manner described in the preceding paragraph 2, EXCEPT: 3.1.1 the Gross Sale Sales Receipts will be the HIGHER of either: (a) the receipt from the disposal PLUS any compensation received PLUS any interest received as part of the CPO; , or (b) the amount obtained by a qualified valuer an Independent Qualified Valuer acting on behalf of the Grant Recipient in negotiation with the body exercising compulsory powers. 3.1.2 Eligible deductions will only include the Grant Recipient Recipient's valuation and legal fees and & costs, and an administrative allowance if the body exercising the CPO has not paid them as part of the CPO process. 3.2 The amount of interest to be included in the calculation of the Gross Sale Receipt gross sales received will be the interest paid by the acquiring body, less any tax on that interest that the Grant Recipient may have to paypay (if it is non-charitable). 3.3 The amount of Firm Scheme Grant FSG recovered will not normally be reduced in respect of any costs incurred by a Grant Recipient in opposing a CPO. 3.4 If the Net Sales Sale Receipts resulting from this calculation are insufficient to enable the recovery of all of the Firm Scheme Grant FSG attributable to that property or land, the amount of Firm Scheme Grant FSG recovered may, at the GLAAgency’s discretion, be reduced by the Shortfall. Grant Recipients should discuss such cases with the GLAAgency's operational area. However, if the Grant Recipient makes net surpluses upon the sale of other Property or land within the same Compulsory Purchase Order, those surpluses must be used to cover the shortfall in whole or in part. 3.5 If a shortfall still remains, the amount of Firm Scheme Grant FSG recovered may (with the GLA's consent) will be reduced by the Shortfallshortfall, which may (with the GLAAgency's consent) be written off by the Grant Recipient. Where Firm Scheme Grant FSG is to be written off, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Sale under Compulsory Purchase Orders. 3.1 If a property owned by a Grant Recipient Landlord is sold under a Compulsory Purchase Order or equivalent mandatory purchase order (CPO) (or where there is written evidence of the threat of a CPO), the amount of Firm Scheme Grant Financial Assistance recovered will be calculated in the manner described in the preceding paragraph 2, EXCEPT: 3.1.1 the Gross Sale Receipts gross sales receipts will be the HIGHER of either: (a) the receipt from the disposal PLUS any compensation received PLUS any interest received as part of the CPO; , or (b) the amount obtained by a qualified valuer acting on behalf of the Grant Recipient Landlord in negotiation with the body exercising compulsory powers. 3.1.2 Eligible deductions will only include the Grant Recipient Landlord's valuation and legal fees and & costs, and an administrative allowance if the body exercising the CPO has not paid them as part of the CPO process. 3.2 The amount of interest to be included in the calculation of the Gross Sale Receipt gross sales received will be the interest paid by the acquiring body, less any tax on that interest that the Grant Recipient Landlord may have to paypay (if it is non-charitable). 3.3 The amount of Firm Scheme Grant Financial Assistance recovered will not normally be reduced in respect of any costs incurred by a Grant Recipient an Landlord in opposing a CPO. 3.4 If the Net Sales Receipts net sales receipts resulting from this calculation are insufficient to enable the recovery of all of the Firm Scheme Grant Financial Assistance attributable to that property or land, the amount of Firm Scheme Grant Financial Assistance recovered may, at the GLAAgency’s discretion, be reduced by the Shortfallshortfall. Grant Recipients The Landlord should discuss such cases with the GLAAgency's operational area. However, if the Grant Recipient Landlord makes net surpluses upon the sale of other Property or land within the same Compulsory Purchase Order, those surpluses must be used to cover the shortfall in whole or in part. 3.5 If a shortfall still remains, the amount of Firm Scheme Grant Financial Assistance recovered may (with the GLA's consent) will be reduced by the Shortfallshortfall, which may (with the GLAAgency's consent) be written off by the Grant RecipientLandlord. Where Firm Scheme Grant Financial Assistance is to be written off, the Grant Recipient Landlord must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Sale under Compulsory Purchase Orders. 3.1 If a property owned by a Grant Recipient is sold under a Compulsory Purchase Order or equivalent mandatory purchase order (CPO) (or where there is written evidence of the threat of a CPO), the amount of Firm Scheme Grant recovered will be calculated in the manner described in the preceding paragraph 2, EXCEPT: 3.1.1 the Gross Sale Receipts will be the HIGHER of either: (a) the receipt from the disposal PLUS any compensation received PLUS any interest received as part of the CPO; or (b) the amount obtained by a qualified valuer Independent Qualified Valuer acting on behalf of the Grant Recipient in negotiation with the body exercising compulsory powers. 3.1.2 Eligible deductions will only include the Grant Recipient 's valuation and legal fees and costs, and an administrative allowance if the body exercising the CPO has not paid them as part of the CPO process. 3.2 The amount of interest to be included in the calculation of the Gross Sale Receipt will be the interest paid by the acquiring body, less any tax on that interest that the Grant Recipient may have to pay. 3.3 The amount of Firm Scheme Grant recovered will not normally be reduced in respect of any costs incurred by a an Grant Recipient in opposing a CPO. 3.4 If the Net Sales Sale Receipts resulting from this calculation are insufficient to enable the recovery of all of the Firm Scheme Grant attributable to that property or land, the amount of Firm Scheme Grant recovered may, at the GLAAgency’s discretion, be reduced by the Shortfall. Grant Recipients should discuss such cases with the GLAAgency's operational area. However, if the Grant Recipient makes net surpluses upon the sale of other Property or land within the same Compulsory Purchase Order, those surpluses must be used to cover the shortfall Shortfall in whole or in part. 3.5 If a shortfall Shortfall still remains, the amount of Firm Scheme Grant recovered may (with the GLA's consent) will be reduced by the Shortfall, which may (with the GLAAgency's consent) be written off by the Grant Recipient. Where Firm Scheme Grant is to be written off, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Sale under Compulsory Purchase Orders. 3.1 If a property owned by a Grant Recipient is sold under a Compulsory Purchase Order or equivalent mandatory purchase order (CPO) (or where there is written evidence of the threat of a CPO), the amount of Firm Scheme Grant FSG recovered will be calculated in the manner described in the preceding paragraph 2, EXCEPT: 3.1.1 the Gross Sale Receipts gross sales receipts will be the HIGHER of either: (a) the receipt from the disposal PLUS any compensation received PLUS any interest received as part of the CPO; , or (b) the amount obtained by a qualified valuer acting on behalf of the Grant Recipient in negotiation with the body exercising compulsory powers. 3.1.2 Eligible deductions will only include the Grant Recipient 's valuation and legal fees and & costs, and an administrative allowance if the body exercising the CPO has not paid them as part of the CPO process. 3.2 The amount of interest to be included in the calculation of the Gross Sale Receipt gross sales received will be the interest paid by the acquiring body, less any tax on that interest that the Grant Recipient may have to paypay (if it is non-charitable), plus any Tax Relief Grant that it may have received to offset the tax paid. 3.3 The amount of Firm Scheme Grant FSG recovered will not normally be reduced in respect of any costs incurred by a an Grant Recipient in opposing a CPO. 3.4 If the Net Sales Receipts net sales receipts resulting from this calculation are insufficient to enable the recovery of all of the Firm Scheme Grant FSG attributable to that property or land, the amount of Firm Scheme Grant FSG recovered may, at the GLAAgency’s discretion, be reduced by the Shortfallshortfall. Grant Recipients should discuss such cases with the GLAAgency's operational area. However, if the Grant Recipient makes net surpluses upon the sale of other Property or land within the same Compulsory Purchase Order, those surpluses must be used to cover the shortfall in whole or in part. 3.5 If a shortfall still remains, the amount of Firm Scheme Grant FSG recovered may (with the GLA's consent) will be reduced by the Shortfallshortfall, which may (with the GLAAgency's consent) be written off by the Grant Recipient. Where Firm Scheme Grant FSG is to be written off, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Sale under Compulsory Purchase Orders. 3.1 If a property owned by a Grant Recipient is sold under a Compulsory Purchase Order or equivalent mandatory purchase order (CPO) (or where there is written evidence of the threat of a CPO), the amount of Firm Scheme Grant Xxxxx recovered will be calculated in the manner described in the preceding paragraph 2, EXCEPT: 3.1.1 the Gross Sale Receipts will be the HIGHER of either: (a) the receipt from the disposal PLUS any compensation received PLUS any interest received as part of the CPO; or (b) the amount obtained by a qualified valuer Independent Qualified Valuer acting on behalf of the Grant Recipient in negotiation with the body exercising compulsory powers. 3.1.2 Eligible deductions will only include the Grant Recipient 's valuation and legal fees and costs, and an administrative allowance if the body exercising the CPO has not paid them as part of the CPO process. 3.2 The amount of interest to be included in the calculation of the Gross Sale Receipt will be the interest paid by the acquiring body, less any tax on that interest that the Grant Recipient may have to pay. 3.3 The amount of Firm Scheme Grant recovered will not normally be reduced in respect of any costs incurred by a an Grant Recipient in opposing a CPO. 3.4 If the Net Sales Sale Receipts resulting from this calculation are insufficient to enable the recovery of all of the Firm Scheme Grant attributable to that property or land, the amount of Firm Scheme Grant recovered may, at the GLAAgency’s discretion, be reduced by the Shortfall. Grant Recipients should discuss such cases with the GLAAgency's operational area. However, if the Grant Recipient makes net surpluses upon the sale of other Property or land within the same Compulsory Purchase Order, those surpluses must be used to cover the shortfall Shortfall in whole or in part. 3.5 If a shortfall Shortfall still remains, the amount of Firm Scheme Grant recovered may (with the GLA's consent) will be reduced by the Shortfall, which may (with the GLAAgency's consent) be written off by the Grant Recipient. Where Firm Scheme Grant is to be written off, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Sale under Compulsory Purchase Orders. 3.1 If a property owned by a Grant Recipient is sold under a Compulsory Purchase Order or equivalent mandatory purchase order (CPO) (or where there is written evidence of the threat of a CPO), the amount of Firm Scheme Grant FSG recovered will be calculated in the manner described in the preceding paragraph 2, EXCEPT: 3.1.1 the Gross Sale Receipts will be the HIGHER of either: (a) the receipt from the disposal PLUS any compensation received PLUS any interest received as part of the CPO; , or (b) the amount obtained by a qualified valuer acting on behalf of the Grant Recipient in negotiation with the body exercising compulsory powers. 3.1.2 Eligible deductions will only include the Grant Recipient 's valuation and legal fees and costs, and an administrative allowance if the body exercising the CPO has not paid them as part of the CPO process. 3.2 The amount of interest to be included in the calculation of the Gross Sale Receipt will be the interest paid by the acquiring body, less any tax on that interest that the Grant Recipient may have to paypay . 3.3 The amount of Firm Scheme Grant FSG recovered will not normally be reduced in respect of any costs incurred by a an Grant Recipient in opposing a CPO. 3.4 If the Net Sales Receipts resulting from this calculation are insufficient to enable the recovery of all of the Firm Scheme Grant FSG attributable to that property or land, the amount of Firm Scheme Grant FSG recovered may, at the GLAAgency’s discretion, be reduced by the Shortfallshortfall. Grant Recipients should discuss such cases with the GLAAgency's operational area. However, if the Grant Recipient makes net surpluses upon the sale of other Property or land within the same Compulsory Purchase Order, those surpluses must be used to cover the shortfall in whole or in part. 3.5 If a shortfall still remains, the amount of Firm Scheme Grant FSG recovered may (with the GLA's consent) will be reduced by the Shortfallshortfall, which may (with the GLAAgency's consent) be written off by the Grant Recipient. Where Firm Scheme Grant FSG is to be written off, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.