Examples of Firm Scheme Grant in a sentence
However, the first sale of shares in a repurchased property will not be deemed an exempt disposal and Firm Scheme Grant will become recoverable immediately the share is sold and a sales receipt realised.
The Grant Recipient shall ensure that for each Firm Scheme it and each Grant Recipient Affiliate keeps on an Open Book Basis (in accordance with generally accepted accounting practice) separate books of account for items relating to the AHP Housing which identify the Firm Scheme Grant and such other items required under this Clause 12 (Review, Monitoring and Reporting).
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.
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.
If Homes England: accepts a Pre-First Claim Change in principle, it shall be entitled to recalculate the Firm Scheme Grant allocated to the Firm Scheme by reference to the proposed change.
For Shared Ownership schemes, the Firm Scheme Grant is apportioned according to the market values of the Affordable Home Ownership Dwellings at Practical Completion of the Firm Scheme.
Where the result of that recalculation is a lower Firm Scheme Grant figure than that set out in the Firm Scheme Details, Homes England will notify the Grant Recipient and the Grant Recipient will have twenty (20) Business Days from the date of receipt of Homes England's notification to advise Homes England as to whether it wishes to withdraw the Firm Scheme from this Agreement or proceed with it on the basis of the recalculated Firm Scheme Grant figure or to withdraw the proposed a Pre-First Claim Change.
For shared ownership schemes, the Firm Scheme Grant is apportioned according to the market values of the dwellings at practical completion of the scheme.
Firm Scheme Grant to the Grant Recipient, the Allocated Grant shall be reduced by a commensurate amount.
Homes England pays Firm Scheme Grant to the Grant Recipient, the Allocated Capital Grant shall be reduced by a commensurate amount.