Common use of Monetary Contribution Clause in Contracts

Monetary Contribution. The Developer will pay to Council a monetary contribution of $insert amount of monetary contribution or an amount calculated in accordance with the following formula, whichever is the greater: $insert amount of monetary contribution x The CPI at the time of payment The CPI at the date of this agreement Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: 75% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. The Developer is not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i) if the Developer provides to the Council a Bank Guarantee in accordance with clause 11.2 as security for that payment, in which case the Developer must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. The Monetary Contribution will be taken to have been made when the Council notifies the Developer in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards insert public purpose of monetary contribution.

Monetary Contribution. (1) The Developer will pay to Council a monetary contribution of $insert amount of monetary contribution or an amount calculated in accordance with the following formula, whichever is the greater: $insert amount of x monetary contribution x The CPI at the time of payment The CPI at the date of this agreement agreement (2) Subject to clause 6.1(c6.1(3), the Monetary Contribution must be paid to Council in instalments as follows: : (a) 75% of the Monetary Contribution prior to the issue of a Construction Certificate for the Development; and and (b) 25% of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. . (3) The Developer is not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i6.1(2)(a) if the Developer provides to the Council a Bank Guarantee in accordance with clause 11.2 12.2 as security for that payment, in which case the Developer must pay the full amount of the Monetary Contribution prior to the issue of an Occupation Certificate for the Development. . (4) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. . (5) The Monetary Contribution will be taken to have been made when the Council notifies the Developer in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. . (6) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards insert public purpose of monetary contribution.

Monetary Contribution. ‌ (a) The Developer will pay to Council a monetary contribution or monetary contributions for all parts of $insert amount of the Development calculated in accordance with a Contributions Plan that would, but for this agreement, be applicable to the Development at the time each Development Consent is granted for the Development. (b) The monetary contribution or an amount contributions calculated in accordance with clause 6.1(a) will be increased (but not decreased) in accordance with the following formula, whichever is the greater: $insert amount of monetary contribution x The CPI at the time of payment $ Monetary Contribution x The CPI at the date of this agreement Subject to clause 6.1(c), the Monetary Contribution must be paid to Council in instalments as follows: 75% of the Monetary Contribution prior relevant Development Consent (c) Prior to the issue of a Construction Certificate for the Development; and 25% of the Monetary Contribution prior to the issue of an each Occupation Certificate for the Development, or prior to the registration of any Strata Plan, whichever is earlier. The Developer is not required to pay the instalment of the Monetary Contribution specified in clause 6.1(b)(i) if the Developer provides to the Council a Bank Guarantee in accordance with clause 11.2 as security for that payment, in which case the Developer must pay the full amount Monetary Contributions calculated in accordance with clauses 6.1(a) and (b) to Council for that part of the Monetary Contribution prior Development subject to the issue of an proposed Occupation Certificate for the Development. Certificate. (d) The Monetary Contribution must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council. . (e) The Monetary Contribution will be taken to have been made when the Council notifies the Developer in writing that the bank cheque has been received and cleared funds or electronic funds have been deposited in the Council’s bank account. . (f) The parties agree and acknowledge that the Monetary Contribution will be used by the Council towards insert public purpose further fit out of monetary contributionthe Community Hub, with any residual contributions to be applied to the provision of recreation facilities and/or land for recreation purposes within the locality.