Common use of Provision of Bank Guarantee Clause in Contracts

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) Subject to clause 8.8, as soon as possible after entering into this Agreement and in any event 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/Ban Occupation Certificate, the Developers 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 6 of the Schedule; (vi) drafted to cover all of the Developers’ Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the Council. (b) The Developers acknowledge Developer acknowledges that the Council enters into this Agreement in consideration of the Developers’ obligations herein to provide Developer providing the Bank Guarantee as a security for the performance of all of the Developers’ 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 works for construction purposes including site hoardings and temporary site sheds that relates to works contained in DA-152/2021/BDA-210/2023, the Developers 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 Developers’ Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the Council. (b) The Developers acknowledge Developer acknowledges that the Council enters into this Agreement in consideration of the Developers’ obligations herein to provide Developer providing the Bank Guarantee as a security for the performance of all of the Developers’ 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 a Construction Certificate that relates to any building work, other than demolition, excavation, piling, shoring and ancillary work works for construction purposes including site hoardings and temporary site sheds that relates relate to works contained in DA-152/2021/BDA-296/2019, the Developers 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 Developers’ Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the Council. (b) The Developers acknowledge Developer acknowledges that the Council enters into this Agreement in consideration of the Developers’ Developer’s obligations herein to provide the Bank Guarantee as a security for the performance of all of the Developers’ 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, as soon as possible after entering into this Agreement and in any event prior to the issue of any a Construction Certificate for the Development that relates to any building work, other than demolition, excavation, piling, shoring and ancillary work works for construction purposes including site hoardings and temporary site sheds that relates to works contained in DA-152/2021/BDA-187/2020, the Developers 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 Developers’ Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the Council. (b) The Developers acknowledge Developer acknowledges that the Council enters into this Agreement in consideration of reliance upon the Developers’ obligations herein to provide Developer providing the Bank Guarantee as a security for the performance of all of the Developers’ 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 works for construction purposes including site hoardings and temporary site sheds that relates to works contained in DA-152/2021DA-44/2022/B, the Developers 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 Developers’ Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the Council. (b) The Developers acknowledge Developer acknowledges that the Council enters into this Agreement in consideration of the Developers’ obligations herein to provide Developer providing the Bank Guarantee as a security for the performance of all of the Developers’ 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, As soon as possible after entering into this Agreement and in any event prior to the issue of any a Construction Certificate that relates to any building work, other than demolition, excavation, piling, shoring and ancillary work works for construction purposes including site hoardings and temporary site sheds that relates relating to works contained in DA-152/2021/Bthis Development Consent, the Developers 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 6 of the Schedule; (vi) drafted to cover all of the Developers’ Developer’s obligations under this Agreement; and (vii) on the terms otherwise satisfactory to the CouncilCouncil acting reasonably. (b) The Developers acknowledge Developer acknowledges that the Council enters into this Agreement in consideration of the Developers’ obligations herein to provide is provided with the Bank Guarantee as a security for the performance of all of the Developers’ Developer’s obligations under this Agreement, including without limitation the delivery of the Development Contribution to the Council in accordance with this Agreement.