Discharge of Agreement. If the Developer fails to complete the development after six 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.
Discharge of Agreement. If the Developer fails to complete the development after five (5) years from the date of registration of this First Amending 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.
Discharge of Agreement. If the City shall pay and discharge the entire indebtedness of all or a portion (a “Partial Discharge”) of the Outstanding Bond in any one or more of the following ways:
(A) by well and truly paying or causing to be paid the principal of and interest and any premium on such Bond, as and when the same become due and payable;
(B) by depositing with the Fiscal Agent, in trust, at or before maturity, an amount of money which, together with the amounts then on deposit in the Bond Fund, the Special Tax Fund and the Reserve Fund, or in the event of a Partial Discharge, the appropriate portion of such amounts, as determined by the City and confirmed by an Independent Financial Consultant, is fully sufficient to pay the Bond, including all principal and interest, if any; or
(C) by irrevocably depositing with the Fiscal Agent, in trust, cash or non- callable Defeasance Obligations in such amount as the City shall determine, as confirmed by an Independent Financial Consultant, will, together with the interest to accrue thereon and amounts then on deposit in the Bond Fund, the Special Tax Fund and the Reserve Fund, or in the event of a Partial Discharge, the appropriate portion of such amounts, as determined by the City and confirmed by an Independent Financial Consultant, be fully sufficient to pay and discharge the indebtedness of the Bond (including all principal and interest) at or before their respective maturity dates; and if the Bond is to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in this Agreement provided or provision satisfactory to the Fiscal Agent shall have been made for the giving of such notice; then, at the election of the City, and notwithstanding that the Bond shall not have been surrendered for payment, the pledge of the Special Tax Revenues and other funds provided for in this Agreement and all other obligations of the City and the District under this Agreement with respect to the Bond shall cease and terminate, except the obligation of the City to pay or cause to be paid to the Owner of such Bond not so surrendered and paid all sums due thereon, the obligation of the City to pay all amounts owing to the Fiscal Agent pursuant to Section 7.05 hereof, and the obligations of the City pursuant to the covenants contained in Section 5.10 hereof; and thereafter Special Tax Revenues shall not be payable to the Fiscal Agent with respect to such Bond. Notice of such election shall be filed with the Fiscal A...
Discharge of Agreement. If the Developer fails to complete the Development after three (3) 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:
Discharge of Agreement. 6.5.1 If the Developer fails to complete the development, or phases of this development, after 2 years from the date of registration of this Agreement at the 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;
(c) discharge this Agreement; or
(d) for those portions of the development which are completed, discharge this Agreement and apply appropriate zoning pursuant to the Halifax Municipal Planning Strategy and Land Use By-law for Halifax Mainland, as may be amended from time to time.
Discharge of Agreement. Upon the completion of the development, 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 and apply appropriate zoning pursuant to the Municipal Planning Strategy and Land Use By-law for Peninsula Halifax.
Discharge of Agreement. Upon the completion of the whole development or complete phases of the development, 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;
(c) Discharge this Agreement; or
(d) For those portions of the development which are completed, discharge this Agreement and apply appropriate zoning pursuant to the Municipal Planning Strategy and Land Use By-law for Planning District 4, as may be amended from time to time.
Discharge of Agreement. If the Developer fails to complete the development after 6 five (5) years from the date of registration of this Second Amending Agreement at the Registry of Deeds or Land Registration Office in Halifax Council the Municipality 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.
Discharge of Agreement. Section 1001
Discharge of Agreement. If the City shall pay and discharge the entire indebtedness on all Bonds Outstanding in any one or more of the following ways:
(A) by paying or causing to be paid the principal of, and interest and any premium on, all Bonds Outstanding, as and when the same become due and payable;
(B) by depositing with the Fiscal Agent, in trust, at or before maturity, money which, together with the amounts then on deposit in the funds and accounts provided for in the Bond Fund and the Reserve Fund hereof, is fully sufficient to pay all Bonds Outstanding, including all principal, interest and redemption premiums, as and when the same become due and payable or upon redemption as applicable; or
(C) by irrevocably depositing with the Fiscal Agent, in trust, cash and/or Federal Securities in such amount as the City shall determine, as confirmed by an independent certified public accountant, will, together with the interest to accrue thereon and moneys then on deposit in the fund and accounts provided for in the Bond Fund and the Reserve Fund (to the extent invested in Federal Securities), be fully sufficient to pay and discharge the indebtedness on all Bonds (including all principal, interest and redemption premiums) at or before their respective maturity dates.
