Common use of Education Contribution Clause in Contracts

Education Contribution. 2.4.1 The Education Contribution shall be paid on a Phase by Phase b asi s, with each Phase Developer being solely liable for the payments due in terms of this Clause 2.4, in respect of any Phase in respect of wh ich it is Phase Developer, as follows: The Commencement Date in respect of a Phase sh a ll not occur until after the Phase Developer of the Phase in question has paid to the Council the First Contributions Instalment in respect of that Phase. Following payment of the First Contributions Instalment, the balance of the Education Contribution for each Phase shall b e payable in insta lments a s follows: 2.4.1.2.1 On each Phase Instalment Payment Date the Phase De veloper o f the Phase in question shall pay to the Council the Phase Instalment in question; and 2.4.1.2.2 When making payment of a Phase Instalment in terms of Clause 2.4.1.2.1 the relevant Phase Developer shall provide to the Council all evidence re aso nably required by the Council in the form of records of Residential Units reaching Completion of Construction, sales etc. to evidence the Phase Developer's ca lculation of the Phase Instalment. 2.4.2 In the event that the First Contributions Instalment and/or a ny Phase Instalment is not paid timeously, interest shall be payable thereon (b y the Phase Developer in question to the Council) at the Prescribed Rate until payment of the relevant sum in full. No Residential Unit within the Phase in question beyond the Instalment Trigger in questi on sh all be permitted to reach a Relevant Milestone in the event that any payment of the Education Contribution in terms of this Clauses 2.4 are overdue for payment. 2.4.3 The Council shall on receipt of each payment of Education Contribution, pay it into an interest-b earing account held by the Council. 2.4.4 The Council shall utilise, as it acting reasonably solely determines, th e Education Contribution as follows: The Education Contribution – Primary School sh a ll b e utilised towards construction of the Primary School to serve the catchment of the Development; and The Education Contribution – Secondary School sh all be utilised towards additional secondary school capacity at [ ] High School, o r su ch other high school which, following a catchment area re view, serves the catchment of the Development. The Education Contribution shall only be used for the purposes specified in this Clause 2.4.4. 2.4.5 In the event of any instalment of the Education Contribution paid under this Clause 2.4 not being utilised in full by the Co uncil wi thin [ thirty] years of the date of receipt of that instalment of Education Contribution then such contribution, or the unused part thereof, as a p propriate, together with any interest that has accrued thereon, shall be re funded to [ ] within 25 Working Days of a written request from the relevant party for repayment.

Education Contribution. the total number of Affordable Housing Units to be delivered under Clause 2.3.1 above shall be reduced accordingly. 2.4.1 The Education Contribution shall be paid on a Phase by Phase b asi sbasis, with each Phase Developer being solely liable for the payments due in terms of this Clause 2.4, in respect of any Phase in respect of wh ich which it is Phase Developer, as follows: The Commencement Date in respect of a Phase sh a ll shall not occur until after the Phase Developer of the Phase in question has paid to the Council the First Contributions Instalment in respect of that Phase. Following payment of the First Contributions Instalment, the balance of the Education Contribution for each Phase shall b e be payable in insta lments a s instalments as follows: 2.4.1.2.1 On each Phase Instalment Payment Date the Phase De veloper o f Developer of the Phase in question shall pay to the Council the Phase Instalment in question; and 2.4.1.2.2 When making payment of a Phase Instalment in terms of Clause 2.4.1.2.1 the relevant Phase Developer shall provide to the Council all evidence re aso nably reasonably required by the Council in the form of records of Residential Units reaching Completion of Construction, sales etc. to evidence the Phase Developer's ca lculation calculation of the Phase Instalment. 2.4.2 In the event that the First Contributions Instalment and/or a ny any Phase Instalment is not paid timeously, interest shall be payable thereon (b y by the Phase Developer in question to the Council) at the Prescribed Rate until payment of the relevant sum in full. No Residential Unit within the Phase in question beyond the Instalment Trigger in questi on sh all question shall be permitted to reach a Relevant Milestone in the event that any payment of the Education Contribution in terms of this Clauses 2.4 are overdue for payment. 2.4.3 The Council shall on receipt of each payment of Education Contribution, pay it into an interest-b earing bearing account held by the Council. 2.4.4 The Council shall utilise, as it acting reasonably solely determines, th e the Education Contribution as follows: The Education Contribution – Primary School sh a ll b e shall be utilised towards construction of the Primary School to serve the catchment of the Development; and The Education Contribution – Secondary School sh all shall be utilised towards additional secondary school capacity at [ ] High School, o r su ch or such other high school which, following a catchment area re viewreview, serves the catchment of the Development. The Education Contribution shall only be used for the purposes specified in this Clause 2.4.4. 2.4.5 In the event of any instalment of the Education Contribution paid under this Clause 2.4 not being utilised in full by the Co uncil wi thin [ Council within [thirty] years of the date of receipt of that instalment of Education Contribution then such contribution, or the unused part thereof, as a p propriateappropriate, together with any interest that has accrued thereon, shall be re funded refunded to [ ] within 25 Working Days of a written request from the relevant party for repayment.