Common use of Extension of Target Date Clause in Contracts

Extension of Target Date. (a) If the Buyer has provided a Bond or Bank Guarantee as the Deposit and the Target Date is extended in accordance with clause 12.1 then, as an essential term of this contract, the Buyer must, within 14 days of the date of a written request from the Developer, arrange to provide a new Bond or Bank Guarantee so that it has an expiry date no earlier than 14 days after the date notified by the Developer under clause 12.1.

Extension of Target Date. (a) If the Buyer has provided a Bond or Bank Guarantee as the Deposit and the Target Date is extended in accordance with clause 12.1 11.1 then, as an essential term of this contract, the Buyer must, within 14 days of the date of a written request from the Developer, arrange to provide a new Bond or Bank Guarantee so that it has an expiry date no earlier than 14 days after the date notified by the Developer under clause 12.111.1.