Common use of Maximum Sum Clause in Contracts

Maximum Sum. 4.5.1 Homes England may reduce the Maximum Sum by such amount as it determines appropriate:- (a) In the event that the Applicant receives and/or accepts an offer of any other funding and/or finance which relates to any part of the Qualifying Expenditure which the Funding is financing, which shall include without limitation: (i) any other public sector finance; or (ii) any amount recovered pursuant to any litigation and/or claim relating to the design and construction of the Building and/or manufacture of any part or parts of the Building or any components used and installed at the Building which impose a life safety fire risk or any litigation and/or claim relating to the specification and installation of the same on the Building. (b) if the Qualifying Expenditure incurred by the Applicant is lower than the Maximum Sum; or (c) where the warranty at clause 3.4.5 has been breached. 4.5.2 In the event that the Applicant receives and/or accepts an offer of any other funding and/or finance which relates to the Project (which shall include without limitation the types of funding/finance referred to in clause 4.5.1(a)(i) and/or (ii)), the Applicant shall advise Homes England as soon as reasonably practicable. 4.5.3 In the event that the: (i) Consents require a change in the Works or the Works on Site reveal that the required Works on any Building are more extensive than that set out in the Works Contracts; and (ii) value of Qualifying Expenditure exceeds the Maximum Sum,

Maximum Sum. 4.5.1 Homes England may reduce the Maximum Sum by such amount as it determines appropriate:- (a) In the event that the Applicant receives and/or accepts an offer of any other funding and/or finance f inance which relates to any part of the Qualifying Expenditure which the Funding is financingf inancing, which shall include without limitation: (i) any other public sector financef inance; or (ii) any amount recovered pursuant to any litigation and/or claim relating claimrelating to the design and construction of the Building and/or manufacture of any part or parts of the Building or any components used and installed at the Building which impose a life lif e safety fire risk or any litigation and/or claim relating to the specification and installation of the same on the Building. (b) if the Qualifying Expenditure incurred by the Applicant is lower than the Maximum Sum; or (c) where the warranty at clause 3.4.5 has been breached. 4.5.2 In the event that the Applicant receives and/or accepts an offer of any other funding and/or finance f inance which relates to the Project (which shall include without limitation the types of funding/finance referred to in clause 4.5.1(a)(i) and/or (ii)), the Applicant shall advise Homes England as soon as reasonably practicable. 4.5.3 In the event that the: (i) Consents require a change in the Works or the Works on Site reveal that the required Works on any Building are more extensive than that set out in the Works Contracts; and (ii) value of Qualifying Expenditure exceeds the Maximum Sum,