Common use of Return of Bank Guarantee Clause in Contracts

Return of Bank Guarantee. Provided that the Developer has complied with its obligations under this Agreement including payment to the Development Contribution the Council will return the Bank Guarantee to the Developer.

Return of Bank Guarantee. Provided that the Developer has complied with its obligations under this Agreement including payment to of the Development Contribution the Council will return the Bank Guarantee to the Developer. Where the work for the Public Purpose has been partly undertaken and paid for by the Council, the Council will return a bank guarantee forming part of the Bank Guarantee, where the costs of the work undertaken are equal to or more that a bank guarantee forming part of the Bank Guarantee.