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 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.

Return of Bank Guarantee. a) Provided that the Developer has complied with its obligations under this Agreement Deed including payment 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 If required by the CouncilCouncil because it has called on the Bank Guarantee amount, the Council will return a bank guarantee forming part Developer shall immediately replace the Bank Guarantee with another Bank Guarantee to the full amount of the Bank Guarantee, where the costs of the work undertaken are equal to or more that a bank guarantee forming part of the original Bank Guarantee. b) Council will promptly return the Bank Guarantee if it resolves to no longer pursue Gazettal Notice in relation to the Planning Proposal.

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