Common Contracts
1 similar Funding Agreement contracts
FUNDING AGREEMENT TO THE NEW AYLESBURY TRUST LIMITED (CREATION TRUST) HEADS OF TERMSFunding Agreement • October 11th, 2010
Parties: (1) The Mayor and Burgesses of the London Borough of Southwark (the “Council”) (2) The New Aylesbury Trust Limited (the “Funding Recipient”) Term: Financial Year 2010/2011 only – further funding subject to Council approval and further Funding Agreement Funding Amount: up to £250,000, payable in two tranches: first tranche: up to £187,000 (to cover first three quarters of Financial Year) second tranche: up to £63,000 (fourth quarter) Payment dates: First tranche: paid Second tranche: as soon as reasonable practicable (subject to Council’s payment process) following completion of Funding Agreement and satisfaction of Conditions Precedent Conditions Precedent: (i) Council approval of Funding Recipient’s Business Case for Financial Year (ii) Provision of constitutional documents demonstrating Funding Recipient’s independence, openness to participation by members of the community, satisfactory governance, adherence to appropriate policies and procedures including equal opportunitie
