Capital Grants Clause Samples

Capital Grants. The project must be completed according to the schedule provided in the grant agreement, but at the latest, a construction contract must be awarded within two (2) years following execution of the grant agreement, and construction must be completed within eighteen (18) months following award of the construction contract.

Capital Grants. Art. 58. §1. During the course of this management contract, the Belgian State will attribute capital grants to BIO as mentioned in article 9, §1, 3° of the BIO Law for a total amount of 67.5 million euro, with an annual limit of 13.5 million euro, for investments mentioned in article 9, §4 of the BIO Law. The annual amount of the capital grants will be determined in the general expenditure budget. §2. During the course of this management contract, the Belgian State will attribute a total amount of

Capital Grants. THIS AGREEMENT is made on 2 December 2003 BETWEEN:

Capital Grants. The [Board] [Trustees] acknowledges the Secretary of State’s power to pay Capital Grant to the Academy Trust and in recognition of the [Board’s] [Trustees’] interest in any Capital Grant paid in relation to expenditure on Land, the Secretary of State commits to the following: to acknowledging the [Board’s] [Trustees’] right to consent to the carrying out of any works to Land which are to be paid for from any Capital Grant; to recognise the [Board’s] [Trustees’] interest in ensuring that any works to Land are carried out properly and that the [Board] [Trustees] [Diocesan Authority] may be procuring or providing support to the Academy Trust in the procurement of such works. To the extent that the Secretary of State considers it necessary, in order to protect the value of any future public investment in the Land and in recognition of the [Board] [Trustees] allowing the Land to be used for the purposes of the Academy, then the Secretary of State may require the Academy Trust and the [Board] [Trustees] to enter into a further agreement in relation to such further public investment and Capital Grant. If the Secretary of State determines such further agreement is required, then the parties agree to negotiate in good faith with a view to reaching agreement to enable such Capital Grant, and future public investment, to be paid. The [Board] [Trustees] [and the Diocesan Authority] acknowledge the Secretary of State’s right to terminate the Funding Agreement or to take action to appoint Further Governors or Additional Governors of the Academy Trust in the circumstances envisaged in the Funding Agreement and Articles of Association. The Secretary of State agrees with the [Board] [Trustees] [and the Diocesan Authority] before taking any such action to notify the [Board] [Trustees] [and the Diocesan Authority] that he intends to take action giving his reasons for such action and to allow the [Board] [Trustees] [and the Diocesan Authority] a reasonable opportunity to make representations regarding such action, including any actions that the [Board] [Trustees] [and the Diocesan Authority] intend to take to remedy any failing of the Academy, which the Secretary of State will have due regard to before finally taking any action. Before taking any action to appoint Further Governors or Additional Governors, the Secretary of State will consider a request made by the [Board] [Trustees] [and the Diocesan Authority] that any Further Governors or Additional Governors the Secretary ...