Common use of Completion of Development Clause in Contracts

Completion of Development. 5.4.1 If the Developer fails to complete the development after five (5) years from the date of registration of this Agreement at the Registry of Deeds or Land Registration Office, Council may review this Agreement, in whole or in part, and may: (a) Retain the Agreement in its present form; (b) Negotiate a new Agreement; or (c) Discharge this Agreement. 5.4.2 For the purpose of this section, completion of development shall mean the issuance of an Occupancy Permit. 5.4.3 For the purpose of this section, Council may consider granting an extension of the completion of development time period through a resolution under Section 4.1, if the Municipality receives a written request from the Developer at least sixty (60) calendar days prior to the expiry of the completion of development time period.

Completion of Development. 5.4.1 7.4.1 If the Developer fails to complete the development after five (5) years from the date of registration of this Agreement at the Registry of Deeds or Land Registration Office, Council may review this Agreement, in whole or in part, and may: (a) Retain the Agreement in its present form; (b) Negotiate a new Agreement; or (c) Discharge this Agreement. 5.4.2 7.4.2 For the purpose of this section, completion of development shall mean the issuance of an the first Occupancy Permit. 5.4.3 7.4.3 For the purpose of this section, Council may consider granting an extension of the completion of development time period through a resolution under Section 4.16.1, if the Municipality receives a written request from the Developer at least sixty (60) calendar days prior to the expiry of the completion of development time period.

Completion of Development. 5.4.1 6.4.1 If the Developer fails to complete the development after five six (56) years from the date of registration of this Agreement at the Registry of Deeds or Land Registration Office, Council may review this Agreement, in whole or in part, and may: (a) Retain the Agreement in its present form; (b) Negotiate a new Agreement; or (c) Discharge this Agreement. 5.4.2 6.4.2 For the purpose of this section, completion of development shall mean the issuance of an the first Occupancy Permit. 5.4.3 6.4.3 For the purpose of this section, Council may consider granting an extension of the completion of development time period through a resolution under Section 4.15.1, if the Municipality receives a written request from the Developer at least sixty (60) calendar days prior to the expiry of the completion of development time period.

Completion of Development. 5.4.1 7.4.1 If the Developer fails to complete the development after five six (56) years from the date of registration of this Agreement at the Registry of Deeds or Land Registration Office, Council may review this Agreement, in whole or in part, and may: (a) Retain the Agreement in its present form; (b) Negotiate a new Agreement; or (c) Discharge this Agreement. 5.4.2 7.4.2 For the purpose of this section, completion of development shall mean the issuance of an the first Occupancy Permit. 5.4.3 7.4.3 For the purpose of this section, Council may consider granting an extension of the completion of development time period through a resolution under Section 4.16.1, if the Municipality receives a written request from the Developer at least sixty (60) calendar days prior to the expiry of the completion of development time period.