taking into account the amount of the proceeds to be reinvested by the Academy Trust. The Secretary of State will have regard to any representations from the Academy Trust and the LA from which the asset was transferred before giving consent under this clause. Except with the consent of the Secretary of State, the Academy Trust shall not dispose of assets funded (whether in whole or in part) by the Secretary of State for a consideration less than the best price that can reasonably be obtained, such consent not to be unreasonably withheld or delayed. The Academy Trust shall provide 30 written notice to the Secretary of days’ State of its intention to dispose of assets for a consideration less than the best price that can reasonably be obtained, whether or not such disposal requires the Secretary of consent under clause 87 above. State’s TERMINATION Either party may give not less than seven Academy Financial written Years’ notice to terminate this Agreement, such notice to expire on 31 August 2021 or any subsequent anniversary of that date. Termination Warning Notice The Secretary of State shall be entitled to issue to the Academy Trust a written notice of his intention to terminate this Agreement Warning (“Termination where he considers that: Notice”) the Academy is no longer meeting the requirements referred to in clause 10 of this Agreement (subject to clause 97); the conditions and requirements set out in clauses 12-33B of this Agreement are no longer being met; the standards of performance of pupils at the Academy are unacceptably low; there has been a serious breakdown in the way the Academy is managed or governed; the safety of pupils or staff is threatened (whether by breakdown of discipline or otherwise); or the Academy Trust is otherwise in material breach of the provisions of this
taking into account the amount of the proceeds to be reinvested by the Academy Trust. The Secretary of State will have regard to any representations from the Academy Trust and the LA from which the asset was transferred before giving consent under this clause. Except with the consent of the Secretary of State, the Academy Trust shall not dispose of assets funded (whether in whole or in part) by the Secretary of State for a consideration less than the best price that can reasonably be obtained, such consent not to be unreasonably withheld or delayed. The Academy Trust shall provide 30 days’ written notice to the Secretary of State of its intention to dispose of assets for a consideration less than the best price that can reasonably be obtained, whether or not such disposal requires the Secretary of State’s consent under clause 87 above. TERMINATION Either party may give not less than seven Academy Financial Years’ written notice to terminate this Agreement, such notice to expire on 31 August 2021 or any subsequent anniversary of that date. Termination Warning Notice The Secretary of State shall be entitled to issue to the Academy Trust a written notice of his intention to terminate this Agreement (“Termination Warning Notice”) where he considers that: the Academy is no longer meeting the requirements referred to in clause 10 of this Agreement (subject to clause 97); the conditions and requirements set out in clauses 12-33B of this Agreement are no longer being met; the standards of performance of pupils at the Academy are unacceptably low; there has been a serious breakdown in the way the Academy is managed or governed; the safety of pupils or staff is threatened (whether by breakdown of discipline or otherwise); or the Academy Trust is otherwise in material breach of the provisions of this
Funding-Agreement-1.docx