Shared Ownership. Voluntary sale of rented property
4.1.1 Grant Recipients should note that this section covers voluntary sales on property on a Shared Ownership basis with no discount. The Gross Sale Receipts must not be below a Valid Valuation by an Independent Qualified Valuer.
4.1.2 The eligible deductions from the Gross Sale Receipts are:
(a) the Deemed Loan Debt;
(b) valuation expenses; and
(c) legal expenses of the disposal, but no administrative allowance.
4.1.3 If the Net Sale Receipts are insufficient to enable the recovery of all of the attributable Firm Scheme Grant, then recovery of the Shortfall may (with the Agency's consent) be deferred to the next Staircasing sale.
4.1.4 Where recovery is deferred, the Grant Recipient must provide such supporting documentation and information to the Agency as the Agency may reasonably require.
Shared Ownership. Staircasing sales
4.4.1 The Gross Sale Receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer.
4.4.2 The eligible deductions from the Gross Sale Receipts are the Deemed Loan Debt attributable to the percentage sold, and the Staircasing allowance. The valuation must be paid for by the prospective purchaser.
4.4.3 The Net Sale Receipts are used to recover the Firm Scheme Grant attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant previously deferred on initial or subsequent Staircasing sales in respect of other properties within the same scheme.
4.4.4 If the Net Sale Receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme Grant, then the Shortfall of the recoverable Firm Scheme Grant may (with the Agency's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other Shared Ownership dwellings within the same scheme.
4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts were less than the Firm Scheme Grant recoverable, the final Shortfall will be written off by the Grant Recipient (subject to the Agency's consent).
4.4.6 Where there is a deferral or write off of Firm Scheme Grant, the Grant Recipient must provide such supporting documentation and information to the Agency as the Agency may reasonably require
Shared Ownership. Unless otherwise specified in the written agreement, if the College and faculty member(s) share ownership of intellectual property, royalty distribution rights shall be as follows: one hundred percent (100%) of royalties or other profits shall be distributed to reimburse the College and/or faculty member(s) for documented expenses of creation and production of the material. Reimbursements shall be divided proportional to the documented expenses until all such expenses are completely reimbursed. The remainder of any royalties or other profits shall be distributed fifty percent (50%) to the College and fifty percent (50%) to the faculty member(s) who share the ownership rights.
Shared Ownership. Ownership of intellectual property including, but not limited to, open or online learning environments, copyrighted material, or patentable discoveries or inventions, shall be shared by the faculty member and the College in an equitable ratio if the intellectual property, or the discoveries or inventions, are produced under one (1) or more of the following circumstances:
Shared Ownership. The parties agree to share responsibilities in the ownership and caring for the pet(s). The parties agree to share the property interest in the pet(s). Each party recognizes that the other has a right to and shall fully participate in all important matters pertaining to the pet’s care, including health, welfare and training. With this in mind, the parties agree that they shall share the pet(s) and that all decisions regarding the health, medical and dental care, training, and other aspects of caring for the pet(s) shall be made on a joint decision making basis.
Shared Ownership. Income derived from intellectual property with shared ownership shall be distributed in accordance with a written agreement between the bargaining unit members and the College. In the absence of a written agreement, the income shall be distributed thirty percent (30%) to the College and seventy percent (70%) to the author/creator/inventor/artist. The author/creator/inventor/artist shall be responsible for notifying the appropriate Vice President of engagement in any intellectual property effort and executing a written agreement of joint ownership with the College before beginning any effort which results in the production of royalties. Failure to execute a written agreement with the College shall not deprive the College of its rights to 30% of the royalties generated from all intellectual property.
Shared Ownership. In the absence of a written agreement, the College shall register the copyright or patent, and costs and fees shall be borne as follows:
1. College: 30%
2. Author/creator/inventor/artist: 70%
Shared Ownership. Sale of a Property Repurchased by Grant Recipient
4.2.1 The eligible deductions from the Gross Sale Receipts are the valuation and legal expenses of the disposal.
4.2.2 If the Net Sale Receipts are insufficient to enable the recovery of all the attributable Firm Scheme Grant, then recovery of the shortfall may (with the GLA's consent) be deferred to the next staircasing sale.
4.2.3 Where recovery is deferred, the Grant Recipient must provide such supporting documentation and information to the GLA as the GLA may reasonably require.
Shared Ownership. Based on the percentage of ownership in the written agreement, shared ownership includes, but is not limited to, a right to royalties, to make derivative works, and to assert ownership rights against an infringer.
17.02 Copyright Registration Except as otherwise provided in a separate agreement negotiated per Article 17.01.03, the party(ies) assigned the right to ownership of intellectual property shall bear the responsibility for registration of the ownership interest. The written agreement shall specify who is responsible for copyright registration when there is shared ownership between the College and a faculty member(s).
Shared Ownership. To remember that every member is a minister and to encourage each attender to share a small group role or serve on a serving team.
