Grant Sum definition

Grant Sum means the funding of £354.6m which Government has committed to make available to the SRN Programme;
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Grant Sum means the sum of Grant paid to the Grant Recipient determined in accordance with this Agreement;
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Examples of Grant Sum in a sentence

  • The Council provides the Grant Sum on the basis that the payment of the Grant Sum in accordance with this Agreement is outside the scope of Value Added Tax.

  • The Recipient acknowledges that any Significant Change could result in re-assessment of the Grant Sum (and the exercise of the Council’s rights to Clawback of the Grant Sum).

  • If required, it will insert appropriate branding on any site / material related to any development funded by the Grant Sum.

  • In the event that it is subsequently ascertained by the Council that the Grant Sum ought to have been subject to Value Added Tax, all payments of the Grant Sum shall be retrospectively deemed to be inclusive of all Value Added Tax.

  • For the avoidance of doubt, the Council will take no responsibility for the adequacy of the Grant Sum and the Recipient will take on all responsibility for the commissioning and management of all contracts which it enters into.

  • If the Funding becomes repayable in whole or in part the following procedure will be used: In the event of any inadvertent overpayment of the Grant Sum at any time the Recipient shall without the issue of any request or demand on the part of the Council repay the amount overpaid within five Business Days of its receipt by the Recipient.

  • The Recipient shall allow access to its business premises to the Council’s internal auditors or its other duly authorised staff or agents for the purposes of a routine and scheduled audit or investigation work examining the probity, economy, efficiency and effectiveness with which the Recipient has used the Grant Sum.

  • The Recipient shall seek the approval of the Council in advance of any Significant Change that arises and which may affect the use of the Grant Sum and/or the outputs it is expected to generate and shall not implement such Significant Change without the consent in writing of the Council.

  • In the event that actual total expenditure incurred by the Recipient exceeds the Grant Sum, the Recipient acknowledges that for the purpose of this Agreement the Recipient is responsible for the funding of the additional expenditure and the Council shall have no obligations to the Recipient in connection with that additional expenditure.

  • The Recipient shall be responsible for any and all taxation consequences arising from the provision of the Grant Sum.