Subsidy. The parties acknowledge that they have structured this Agreement with the objective that it is lawful and complies with the requirements of the United Kingdom Competition Requirement. Notwithstanding anything in this Agreement: Homes England shall only provide Firm Scheme Grant to the extent that such does not give rise to Unlawful Subsidy; and the Grant Recipient must comply with the requirements of the United Kingdom Competition Requirement (where applicable) in respect of any Firm Scheme Grant paid. Notwithstanding Clauses 20.1 and 20.2 of this Agreement if any Firm Scheme Grant is found to constitute Unlawful Subsidy (or is under investigation by a Competent Authority or subject to judicial proceedings in relation to compliance with the requirements of the United Kingdom Competition Requirement) then: the parties acting in good faith will promptly seek to restructure the arrangements surrounding the Firm Scheme Grant and the terms of this Agreement to the extent necessary to ensure that no Unlawful Subsidy subsequently arises from it; and/or the parties shall promptly cooperate in good faith to provide evidence that the Firm Scheme Grant (or the restructured Firm Scheme Grant) does not or will not give rise to Unlawful Subsidy. If any Firm Scheme Grant is found to constitute Unlawful Subsidy and/or is not capable of being restructured so as to be compliant then the Grant Recipient must repay any sum of Unlawful Subsidy plus such interest as is prescribed by the United Kingdom Competition Requirement within ten (10) Business Days of Homes England issuing it with a written demand for payment.
Appears in 4 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Subsidy. The parties acknowledge that they have structured this Agreement with the objective that it is lawful and complies with the requirements of the United Kingdom Competition Requirement. Notwithstanding anything in this Agreement: Homes England shall only provide Firm Scheme Grant to the extent that such does not give rise to Unlawful Subsidy; and the Grant Recipient must comply with the requirements of the United Kingdom Competition Requirement (where applicable) in respect of any Firm Scheme Grant paid. Notwithstanding Clauses 20.1 and 20.2 of this Agreement if any Firm Scheme Grant is found to constitute Unlawful Subsidy (or is under investigation by a Competent Authority or subject to judicial proceedings in relation to compliance with the requirements of the United Kingdom Competition Requirement) then: the parties acting in good faith will promptly seek to restructure the arrangements surrounding the Firm Scheme Grant and the terms of this Agreement to the extent necessary to ensure that no Unlawful Subsidy subsequently arises from it; and/or the parties shall promptly cooperate in good faith to provide evidence that the Firm Scheme Grant (or the restructured Firm Scheme Grant) does not or will not give rise to Unlawful Subsidy. If any Firm Scheme Grant is found to constitute Unlawful Subsidy and/or is not capable of being restructured so as to be compliant then the Grant Recipient must repay any sum of Unlawful Subsidy plus such interest as is prescribed by the United Kingdom Competition Requirement within ten (10) Business Days of Homes England issuing it with a written demand for payment.
Appears in 2 contracts
Samples: Grant Agreement, Grant Agreement
