Examples of CPO Indemnity Agreement in a sentence
That the Director of City Development and the City Solicitor be authorised to aim to conclude all the documents required to amend the existing Development Agreement and the CPO Indemnity Agreement, by the 31st December 2013, in accordance with the submitted report, and in consultation with the Executive Member for Development and the Economy to agree any further alterations that might be required in accordance with the appropriate schemes of delegation.
CPO Indemnity Agreement to be reviewed by TDC's legal advisors and comments issued to RO as soon as possible and in any event before 30 September 2015.
The Council and Developer also entered into a CPO Indemnity Agreement (“CPOIA”) on 5 February 2014, under which the Developer undertook to indemnify the Council in respect of costs incurred in promoting, making and securing the compulsory acquisition of the Order Land and the compensation payments arising from those acquisitions.
If the Customer fails to do so, or fails to do so properly, the Customer is in default in the fulfilment of its obligationstowards NewMotion under the Agreement.
It is therefore proposed that the CPO Indemnity Agreement is varied to ensure Renewal is responsible for the compensation and costs arising in respect of any interference with rights in respect of the land the subject of that proposed transaction.
This is an ‘on-demand’ bond enabling the Council to require payment from RBS if Renewal fail to pay under the CPO Indemnity Agreement.
It is intended that land acquired pursuant to the terms of the CPO Indemnity Agreement will be disposed of to Renewal pursuant to Section 233.
Renewal proposes to provide an on-demand performance bond from RBS in respect of all costs and expenses payable under the CPO Indemnity Agreement.
On the same date, the Council entered into a CPO Indemnity Agreement which addresses the land assembly required for the Scheme and provides for Renewal to cover the costs of the process (including by way of CPO, should the Council decide to exercise its powers – it is under no obligation to do so).
As explained elsewhere in this Report, the CPO Indemnity Agreement provides for a cash deposit or alternative security to be put in place following a CPO Resolution to cover the costs secured under the CPO Indemnity Agreement.