Common use of Development Parcels Clause in Contracts

Development Parcels. The Landowner covenants: (a) not to develop any Land except in Development Parcels (which may comprise either a Phase or part of a Phase); and (b) not to submit an application for approval of Reserved Matters other than with a plan showing the Development Parcel to which the application relates; PROVIDED ALWAYS that if the Landowner submits a set of Reserved Matters for an area smaller than the Development Parcel shown on the plan submitted in accordance with Paragraph 5(b) of this Part 1 of this Schedule 1 the area to which the set of Reserved Matters relate will be a deemed Development Parcel for the purposes of triggering payment under Paragraph 6 of this Part 3 of this Schedule 1 and if relevant triggering the long stop under Paragraph 7 of this Part 3 of this Schedule 1.

Development Parcels. The Landowner covenants: (a) not to develop any Land except in Development Parcels (which may comprise either a Phase or part of a Phase); and (b) not to submit an application for approval of Reserved Matters other than with a plan showing the Development Parcel to which the application relates; PROVIDED ALWAYS that if the Landowner submits a set of Reserved Matters for an area smaller than the Development Parcel shown on the plan submitted in accordance with Paragraph 5(b) of this Part 1 of this Schedule 1 the area to which the set of Reserved Matters relate will be a deemed Development Parcel for the purposes of triggering payment under Paragraph 6 of this Part 3 1 of this Schedule 1 and if relevant triggering the long stop under Paragraph 7 of this Part 3 1 of this Schedule 1.