Common use of Consequences of Delay Clause in Contracts

Consequences of Delay. In the event that a building permit is not issued and construction commenced within one year from the date of this Agreement, or if the works and facilities contemplated in the Approved Plan(s) are not fully completed within three years from the date of this Agreement, the conditions of approval and provisions of this Agreement will be reviewed and may be subject to revision by the Town by notice in writing to the Developer which revisions shall be accepted and implemented by the Developer.