Commuted Sum definition

Commuted Sum means the sum to be paid by the undertaker to the local highway authority for the future maintenance of the Non-standard Highway Assets not previously forming part of the local highway which will be transferred to the local highway authority, as calculated in accordance with paragraph 22 of this Part of this Schedule;
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Commuted Sum means [ (£)] POUNDS [NOTE – insert appropriate figure in force at the time agreement entered into.] as Index Linked;
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Commuted Sum means the sum referred to in the S.278 Agreement
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Examples of Commuted Sum in a sentence

  • Bellway Homes - Commuted Sum This investment relates to the £0.405m Bellway Homes compensatory commuted sum, which was directed towards sports improvements at North Reddish Park, Crescent Park and Peel Moat Open Space.

  • In the event that the Commuted Sum for Affordable Housing, or any part thereof, is not paid timeously, interest shall be payable thereon (by the Proprietors to the Council) on demand at the Prescribed Rate until payment of the relevant sum in full.

  • Insert details of the Engineer’s costs and the Commuted Sum as required.

  • If the Affordable Housing Commuted Sum is paid, the Owner may dispose of the on-site units on the open market free from restrictions.

  • If, having used all reasonable endeavours to effect a transfer, the Owner is unable to transfer the Affordable Housing Units to an Affordable Housing Provider, the Owner may pay an Affordable Housing Commuted Sum to the District Council in lieu of providing the Affordable Housing Units on-site.


More Definitions of Commuted Sum

Commuted Sum means a sum per affordable housing unit being no less than 60% of the Open Market value at the time of the payment of the commuted sum
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Commuted Sum means such sum as shall be calculated for each phase as provided for in paragraph 9(2) of this Schedule and to be used to fund the future cost of maintenance the County Highway Works.
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Commuted Sum means [ (£)] POUNDS [NOTE – insert appropriate figure in force at the time agreement entered into. Note that new SPG on this issue is pending.];
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Commuted Sum means the sum to be paid by the undertaker to Transport for London for the future maintenance of the Highway Assets not previously forming part of the TLRN which will be transferred to Transport for London, as calculated in accordance with paragraph 80 of this Part;
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Commuted Sum means such sum calculated as provided for in paragraph 66 of this Part of this Schedule to be used to fund the future cost of maintaining the relevant works;
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Commuted Sum means such sum as shall be agreed following approval of the final design of the Works to be used to fund the future cost of maintaining or replacing the Works;
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Commuted Sum means a sum per Low Cost Housing Unit being _% of the Open Market Value at the time of payment of the Commuted Sum (or such other figure as otherwise agreed between the parties in writing), and a sum per Rented Affordable Housing Unit or Shared Ownership Unit being a percentage of the Open Market Value of those units, such percentage to be agreed between the Chief Housing Officer and the Owner at the time of the payment of the Commuted Sum
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