Sharing the Land If: the Academy does not reach its planned capacity, as stated in clause 2.11, within [●] Academy Financial Years; or the Academy Trust or the Secretary of State serves notice to terminate this Agreement under clause 7.1; or the Secretary of considers that not all the Land is needed for the operation of the Academy at planned capacity, the Academy Trust must share occupation of the Land with such other Academy as the Secretary of State considers appropriate and enter into any legal arrangements which the Secretary of State requires for this purpose. [Version 6: new leasehold site provided by ESFA with a legal charge in favour of the Secretary of State] means an amount equal to 100% of the Land Value; “Debt” Process” means the removal of: “Discharge the Charge registered with Companies House against the Academy Trust; the Charge from the charges register at the Land Registry against the title for the Land; the restriction in the proprietorship register referred to in clause 5.3(a); and the notice in the proprietorship register referred to in clause 5.12(a). means the land at [●], being [part of] the land registered with title number [●] “Land” and demised by the Lease. Value” means, at any time: “Land the Land has been disposed of as a result of the enforcement of
Sharing the Land If: the Academy does not reach its planned capacity, as stated in clause 2.11, within [●] Academy Financial Years; or the Academy Trust or the Secretary of State serves notice to terminate this Agreement under clause 7.1; or the Secretary of considers that not all the Land is needed for the operation of the Academy at planned capacity, the Academy Trust must share occupation of the Land with such other Academy as the Secretary of State considers appropriate and enter into any legal arrangements which the Secretary of State requires for this purpose. [Version 6: new leasehold site provided by ESFA with a legal charge in favour of the Secretary of State] “Debt” means an amount equal to 100% of the Land Value; “Discharge Process” means the removal of: the Charge registered with Companies House against the Academy Trust; the Charge from the charges register at the Land Registry against the title for the Land; the restriction in the proprietorship register referred to in clause 5.3(a); and the notice in the proprietorship register referred to in clause 5.12(a). “Land” means the land at [●], being [part of] the land registered with title number [●] and demised by the Lease. “Land Value” means, at any time: the Land has been disposed of as a result of the enforcement of
16to19_Single_V2_March18.docx