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 of the Development Contribution or any other amount payable under this Agreement, the Council will return the Bank Guarantee to the Developer.

Return of Bank Guarantee. (a) Provided that the Developer has complied with its obligations under this Agreement Deed including payment of the Development Contribution or any other amount payable under this Agreement, the Council will return the Bank Guarantee to the Developer. If required by the Council because it has called on the Bank Guarantee amount, the Developer shall immediately replace the Bank Guarantee with another Bank Guarantee for the full amount of the original Bank Guarantee.