Disposal of Asset. 18.5. Where the Grant Recipient uses any of the Grant to develop, improve or purchase any Assets, the Grant Recipient must ensure that the Assets are maintained in good condition over the Asset Owning Period.
Disposal of Asset. Where the Grant Recipient uses any of the Grant to develop, improve or purchase any Assets, the Grant Recipient must ensure that the Assets are maintained in good condition over the Asset Owning Period. The Grant Recipient must not dispose of any Assets that have been totally or partly bought, restored, conserved (maintained or protected from damage) or improved with the Grant without the prior written consent of the Authority. If the Authority grants consent to the Disposal, such consent may be subject to satisfaction of certain conditions, to be determined by the Authority. If the Grant Recipient disposes of any Asset without the prior written consent of the Authority, the Grant Recipient must use all reasonable endeavours to achieve the market price for the Assets and must pay to the Authority a proportion of the proceeds of such sale, equivalent to the proportion of the purchase or development costs of the Assets that was funded by the Grant, provided that the Authority may at its discretion allow the Grant Recipient to keep all or a part of the relevant proceeds where: the sale of the Assets takes place after the end of the Asset Owning Period; the proceeds of sale are to be applied directly to the purchase by the Grant Recipient of assets that are equivalent to or replacements for the Assets; or the Authority is otherwise satisfied that the Recipient will apply those proceeds for purposes related to the Funded Activities. In the event that the Grant Recipient disposes of any Asset in accordance with condition 18.7, the Grant Recipient shall hold the proceeds from the Disposal of that Asset on trust for the Authority. Charging of any Asset The Grant Recipient shall not create any charge, legal mortgage, debenture or lien over any Asset without the prior written consent of the Authority.
Disposal of Asset. 18.5. Where the Project Deliverer uses any of the Grant or Funding to develop, improve or purchase any Assets, the Project Deliverer must ensure that the Assets are maintained in good condition over the Asset Owning Period.
Disposal of Asset. 5.8If the Recipient uses any of the Grant to develop, improve or purchase any Assets, the Recipient shall ensure that the Assets are maintained in good condition until such time as they returned to the custody of the Funder, and shall indemnify the Funder for any costs incurred by the Funder is remedying any damage or loss to such Assets which occurred other than as a result of fair wear and tear for such time as they were in the custody of the Recipient.
Disposal of Asset. 18.5. Where the Grant Recipient uses any of the Grant to develop, improve or purchase any Assets, the Grant Recipient must ensure that the Assets are maintained in good condition over the Asset Owning Period. For the purpose of this paragraph 18.5, ‘Assets’ does not include real property or Assets incorporated into real property from the moment of that incorporation.
Disposal of Asset. 18.5. Where the Lead Authority or Project Deliverer uses any of the Grant or Funding to develop, improve or purchase any Assets, the Lead Authority must ensure that the Assets are maintained in good condition over the Asset Owning Period.
