Common use of Topic Description Clause in Contracts

Topic Description. Kiwi Property Holdings No. 2 Limited, as owner of land described in Plan Change 48; 2. ▇▇▇▇▇▇ ▇▇▇▇▇ Land Development Limited, as owner of land described in Plan Change 49; and 3. Oyster Capital Limited, as owner of land described in Plan Change 50. Appointment The Development Parties agree to fund and procure the undertaking of the Infrastructure Works to provide services for the Developments. Commencement Date The date on which all conditions precedent to the Infrastructure Funding Agreement have been satisfied or waived. Conditions Precedent The obligations of the parties under the Infrastructure Funding Agreement will be conditional upon: • Approval by Council of the relevant plan changes for each Development or any other approval that has the same effect such as fast track approval under the COVID-19 Recovery (Fast-track Consenting) Act 2020; and • Obtaining all required consents and approvals in order to undertake the Infrastructure Works; and • Approval by the board of directors of each Development Party Term Ongoing from the Commencement Date, until the expiry or termination of the Infrastructure Funding Agreement. Infrastructure Works The Infrastructure Works will comprise roading works, to be more particularly defined in the Infrastructure Plan, applicable specifications and the Consents. The Development Parties will select one or more contractors to undertake the Infrastructure Works. The Development Parties will ensure that the Infrastructure Works will be undertaken in accordance with the Infrastructure Plan, applicable specifications and the Consents.