Developer to provide Security. The Developer has agreed to provide security to the Minister for the performance of the Developer's obligations under this deed by providing the Security to the Minister in accordance with the terms and procedures set out in Schedule 5.
Developer to provide Security. (a) In order to secure the payment or performance of the Development Contribution, the Developer has agreed to provide the Security.
(b) The Security must:
(i) name the Council; and
(ii) not have an expiry date, or if it has an expiry date, the Security must be replaced by the Developer not less than 30 Business Days prior to expiry.
Developer to provide Security. (a) In order to secure the payment or performance of the Development Contribution the Developer has agreed to provide the Security.
(b) The Security must:
(i) name the “Minister for Planning” and the “Department of Planning and Environment ABN 38 755 709 681” as the relevant beneficiaries; and
(ii) not have an expiry date.
Developer to provide Security. The Developer has agreed to provide security to Council for the performance of the Developer's obligations under this Agreement by providing the Security to Council in accordance with the terms and procedures set out in Schedule 4.
Developer to provide Security. (a) The Developer has agreed to provide security to the Council for the performance of the Developer's obligations under this deed by providing the Security to the Council in accordance with the terms and procedures set out in Schedule 5.
(b) If the Developer does not dedicate land required to be dedicated under this Deed at the time at which it is required to be dedicated, the Developer consents to the Council compulsorily acquiring the land for compensation in the amount of $1.00 without having to follow the pre- acquisition procedure under the Just Terms Act.
(c) The Council is to only acquire land pursuant to clause 6.1(b) if it considers it reasonable to do so having regard to the circumstances surrounding the failure by the Developer to dedicate the land required to be dedicated under this Deed.
(d) Clause 6.1(b) constitutes an agreement for the purposes of s30 of the Just Terms Act.
(e) If, as a result of the acquisition referred to in clause 6.1(b), the Council is required to pay compensation to any person other than the Developer, the Developer is to reimburse the Council that amount, upon a written request being made by the Council, or the Council can call on any Security provided under clause 6.
(f) The Developer indemnifies and keeps indemnified the Council against all Claims made against the Council as a result of any acquisition by the Council of the whole or any part of the land concerned except if, and to the extent that, the Claim arises because of the Council's negligence or default.
(g) The Developer is to promptly do all things necessary, and consents to the Council doing all things necessary, to give effect to this clause 6, including without limitation:
(i) signing any documents or forms,
(ii) giving land owner’s consent for lodgement of any Development Application,
(iii) producing certificates of title to the Registrar-General under the Real Property Xxx 0000, and
(iv) paying the Council's costs arising under this clause 6.1
Developer to provide Security. 18.1 The Parties agree that the obligation to carry out the Item of Work to be carried out by the Developer pursuant to Clause 12 will be secured by a Bond, equal to 25% of the value of the applicable Item of Work under this Agreement, which the Developer will provide to the Council prior to the issue of the Construction Certificate. .
18.2 The Bond may not be requested, and no Bond may be retained by the Council until after the foreshadowed Development Consent for the Development is granted by the Council and the Developer gives Council notice of its intention to commence development pursuant to section 6.6(2)(e) of the Act and the Development is physically commenced as provided in section 4.53 of the Act
18.3 The Developer acknowledges that the Council or other Consent Authority may impose conditions of Development Consent on the Development under section 4.17 of the Act specifying that the Security Amount as it relates to the Item of Work is to be provided in accordance with Schedule 3 18.4 The Parties agree in respect of the Item of Work identified in Schedule 3 that, where Council is the Registered Certifier, it may withhold the issue of the relevant Occupation Certificate (as appropriate) until such time as the identified Item of Work is completed.
Developer to provide Security. (a) The Developer has agreed to provide security to the City for the performance of the Developer’s obligations under this document by providing the Security to the City.
(b) The Developer must provide the Security to the City on the date that the Developer signs this document.
(c) The City is entitled to retain the Security from the date of this document until the Due Date.
(d) The Developer expressly acknowledges and agrees that:
(i) If:
(A) the City (acting reasonably) forms the view that the Developer is in breach or default of its obligations under this document; and
(B) the City incurs any expense or liability as a consequence of that breach, the City may give written notice to the Developer providing details of the alleged breach or default and a reasonable period (of not less than 14 days) to rectify that breach or default within the period specified in the notice (or such other period as the parties may agree), following which the City may make an appropriation from the Security in such amount as the City (acting reasonably) thinks appropriate.
Developer to provide Security. (a) The Developer acknowledges that the valuation report prepared by the Valuer, sets out the Education Land Value as at the date of this deed, on the basis that the Education Land is the Nominated School Site.
(b) Upon execution of this deed, the Developer must provide to the Planning Minister one or more Bank Guarantees with a total face value equivalent to the sum of:
(i) the Monetary Contribution; and
(ii) 120% of the Education Land Value, as determined in the valuation specified in clause 2(a) of this Schedule 5.
(c) If a site other than the Nominated School Site (or, if an Alternative School Site has been identified in accordance with this deed, a site other than that Alternative School Site) is identified as the Education Land for the purposes of this deed, then the Developer must provide to the Planning Minister:
(i) a valuation of that land, prepared by a Valuer, and approved by the Planning Minister (such approval not to be withheld unreasonably); and
(ii) one or more Bank Guarantees with a total face value equivalent to 120% of the value of that land; and the Planning Minister must return the Education Land Security which she currently holds as soon as practicable after receiving the Bank Guarantees specified in clause 2(e)(ii) of this Schedule 5.
(d) At every second CPI Adjustment Date, the Developer must provide to the Planning Minister an updated valuation of the Nominated School Site (or, if an Alternative School Site has been identified in accordance with this deed, that Alternative School Site) prepared by a Valuer, and approved by the Planning Minister (such approval not to be withheld unreasonably).
(e) Subject to clause 3 of this Schedule 5, the Developer must ensure that, at any given time, the value of the security which the Planning Minister holds under this deed is for a total of:
(i) the amounts of Monetary Contribution Security which have not yet been provided to the Planning Minister; and
(ii) the amount being 120% of the value of the Education Land as determined in the most recent valuation prepared under clause 2(d) of this Schedule 5, so that the Planning Minister is always in a position to make claims on the security which the Planning Minister would be entitled to make under this deed in the circumstances described in clause 4 of this Schedule 5.
(f) If the value of the security which the Planning Minister holds is for less than the total described in clause 2(e) of this Schedule 5 (for example, if the total increases as a r...
Developer to provide Security. Section 93F(3)(g) of the Act requires the enforcement of a planning agreement by a suitable means, such as the provision of a bond or guarantee, in the event of a breach of the Agreement by the Developer. The intention of the Parties is that clause 10 and this clause 13 satisfy this obligation.
Developer to provide Security. (a) The Corporation will return the Unconditional Undertaking to the Developer once the Corporation is satisfied that all the Developer’s obligations under this Agreement have been completed.
(b) The Developer must not, at any time, seek or obtain a court injunction or other legal remedy to take or instigate any other action to hinder or prevent the Corporation from having recourse to the Unconditional Undertaking.
(c) The Developer must ensure that the Unconditional Undertaking is kept in full force and effect for the full Unconditional Undertaking Amount throughout the Term.
