Provision of Bank Guarantee. (a) Subject to clause 8.8, prior to the issue of a Construction Certificate, the Developer must deliver to the Council a Bank Guarantee, which must be:
(i) in a form and from an institution approved by the Council;
(ii) irrevocable and unconditional;
(iii) with no expiry date;
(iv) issued in favour of the Council;
(v) for an amount equivalent to the Development Contribution set out in Item 6 of the Schedule;
(vi) drafted to cover all of the Developer’s obligations under this Agreement; and
(vii) on the terms otherwise satisfactory to the Council.
(b) The Developer acknowledges that the Council enters into this Agreement in consideration of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to Council in accordance with this Agreement.
Provision of Bank Guarantee. (a) Subject to clause 8.8, prior to the issue of any Construction Certificate that relates to any building work, other than demolition, excavation, piling, shoring and ancillary work for construction purposes including site hoardings and temporary site sheds that relates to works contained in DA-152/2021/B, the Developers must deliver to the Council a Bank Guarantee, which must be:
(i) in a form and from an institution approved by the Council;
(ii) irrevocable and unconditional;
(iii) with no expiry date;
(iv) issued in favour of the Council;
(v) for an amount equivalent to the Development Contribution set out in Item 5 of the Schedule;
(vi) drafted to cover all of the Developers’ obligations under this Agreement; and
(vii) on the terms otherwise satisfactory to the Council.
(b) The Developers acknowledge that the Council enters into this Agreement in consideration of the Developers’ obligations herein to provide the Bank Guarantee as a security for the performance of all of the Developers’ obligations under this Agreement, including without limitation the delivery of the Development Contribution to Council in accordance with this Agreement.
Provision of Bank Guarantee. (a) On the date of this Agreement the Developer must deliver to the Council a bank guarantee (“Bank Guarantee”), which must be:
(i) irrevocable and unconditional;
(ii) with no expiry date;
(iii) issued in favour of the Council;
(iv) for an amount equivalent to the Development Contribution set out in item 6 of the Schedule;
(v) drafted to cover all of the Developer’s obligations under this Agreement; and
(vi) on the terms otherwise satisfactory to the Council and in a form and from an institution approved by the Council.
(b) The Developer acknowledges that the Council enters into this Agreement in consideration of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to Council in accordance with this Agreement.
(c) The Bank Guarantee may be provided in the form of a number of separate bank guarantees, provided the separate bank guarantees total the amount of the Monetary Contribution set out in item 6 of the Schedule.
(d) Without limiting the provision of any other clause herein, no application for an Occupation Certificate can be made unless the Council holds a valid Bank Guarantee under this clause.
Provision of Bank Guarantee. (a) On the date of this Agreement and before any application for any Construction Certificate the Developer must deliver to the Council a bank guarantee (“Bank Guarantee”), which must be:
(i) irrevocable and unconditional;
(ii) with no expiry date;
(iii) issued in favour of the Council;
(iv) for an amount equivalent to the Development Contribution set out in item 5 of the Schedule;
(v) drafted to cover all of the Developer’s obligations under this Agreement; and
(vi) on the terms otherwise satisfactory to the Council and in a form and from an institution approved by the Council.
(b) The Developer acknowledges that the Council enters into this Agreement in consideration of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to Council in accordance with this Agreement.
Provision of Bank Guarantee. (a) Subject to clause 8.8, prior to the issue of any Construction Certificate for the Development which permits building works (not including stage 1 Construction Certificate for demolition and other associated building works), the Developer must deliver to the Council a Bank Guarantee, which must be:
(i) in a form and from an institution approved by the Council;
(ii) irrevocable and unconditional;
(iii) with no expiry date;
(iv) issued in favour of the Council;
(v) for an amount equivalent to the Development Contribution set out in Item 5 of the Schedule;
(vi) drafted to cover all of the Developer’s obligations under this Agreement; and
(vii) on the terms otherwise satisfactory to the Council.
(b) The Developer acknowledges that the Council enters into this Agreement in consideration of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to Council in accordance with this Agreement.
Provision of Bank Guarantee. (a) Prior to the issue of any Construction Certificate for the Development, the Developer must deliver to the Council a Bank Guarantee to secure the payment of the Monetary Contribution under this Agreement, which must be:
(i) in a form and from an institution approved by the Council;
(ii) irrevocable and unconditional;
(iii) with no expiry date;
(iv) issued in favour of the Council;
(v) for an amount of $6,300,000; and
(vi) on the terms otherwise satisfactory to the Council.
(b) The Developer acknowledges that the Council enters into this Agreement in consideration, amongst other things, of the Developer providing the Bank Guarantee prior to the issue of any Construction Certificate for the Development as a security for the Monetary Contribution.
Provision of Bank Guarantee. (a) On the date of this Agreement and in any event prior to the issue of any Construction Certificate, the Developer must deliver to the Council a bank guarantee (“Bank Guarantee”), which must be:
(i) in a form and from an institution approved by the Council;
(ii) irrevocable and unconditional;
(iii) with no expiry date;
(iv) issued in favour of the Council;
(v) for an amount equivalent to the Development Contribution set out in Item 6 of the Schedule;
(vi) drafted to cover all of the Developer’s obligations under this Agreement; and
(vii) on the terms otherwise satisfactory to the Council.
(b) The Developer acknowledges that the Council enters into this Agreement in consideration of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to the Council in accordance with this Agreement.
(c) Should payment of the Development Contribution occur on the date of this Agreement or prior to the issue of a Construction Certificate, then there will be no obligation to provide Council with the Bank Guarantee in accordance with this clause.
Provision of Bank Guarantee. (a) Prior to the issue of any Construction Certificate for the Development which permits building works other than demolition, excavation, piling, shoring and ancillary work for construction purposes including site hoardings and temporary site sheds that relates to works contained in DA-304/2022/A, the Developer must deliver to the Council a Bank Guarantee, which must be:
(i) in a form and from an institution approved by the Council;
(ii) irrevocable and unconditional;
(iii) with no expiry date;
(iv) issued in favour of the Council;
(v) for an amount equivalent to the Development Contribution set out in Item 5 of the Schedule;
(vi) drafted to cover all of the Developer’s obligations under this Agreement; and
(vii) on the terms otherwise satisfactory to the Council.
(b) The Developer acknowledges that the Council enters into this Agreement in consideration of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to Council in accordance with this Agreement.
Provision of Bank Guarantee. Subject to clause 8.8, prior to the issue of a Construction Certificate, the Developer must deliver to the Council a Bank Guarantee, which must be:
Provision of Bank Guarantee. (a) As soon as Development Consent issues and before any application for any Construction Certificate the Developer must deliver to the Council a bank guarantee (“Bank Guarantee”), which must be:
(i) irrevocable and unconditional;
(ii) with no expiry date;
(iii) issued in favour of the Council;
(iv) for an amount equivalent to the Monetary Contribution set out in Item 5 of the Schedule;
(v) drafted to cover all of the Developer’s obligations under this Deed;
(vi) at the expiry of each 12 month period during which the bank guarantee is provided to the Council, adjusted by the increase or decrease in CPI index over the last 12 month period; and
(vii) on the terms otherwise satisfactory to the Council and in a form and from an institution approved by the Council.
(b) The Developer acknowledges that the Council enters into this Deed in consideration of the Developer providing the Bank Guarantee as a security for the performance of all of the Developer’s obligations under this Deed, including without limitation the delivery of the Development Contribution by the Development Contribution Date to the Council in accordance with this Deed.
