Developer to provide Development Contribution. (a) The Developer undertakes to provide to Council the Development Contribution in accordance with the provisions of Schedule 3 to this Agreement. (b) The Developer’s obligation to provide to Council the Development Contribution ceases upon the earlier of: (i) the date upon which the Developer has paid in full the Council Payment Monetary Contribution and Community Fund Monetary Contribution in accordance with Schedule 3 to this Agreement; or (ii) the Commercial Operation End Date. (c) If the Commercial Operation End Date occurs prior to the date referred to in clause 4.1(b)(i) above, then the Developer remains liable under this Agreement for the payment of any Development Contribution obligation that accrued prior to that Commercial Operation End Date but is otherwise released by Council from any further obligation to make any Development Contributions under this Agreement.
Appears in 2 contracts
Sources: Planning Agreement, Planning Agreement