Common use of Release from Registration Clause in Contracts

Release from Registration. (a) Provided the Developer is not in breach of any of its obligations under this Agreement, Council will at the request of the Developer release part of the Land from registration of this Agreement where the Monetary Contribution applicable to that part of the Land (as set out in Schedule 2) has been received by Council and no other money is owing to Council under this Agreement in relation to that part of the Land. (b) The obligations of the Council in relation to this clause 14.3 are satisfied when Council provides the Developer with a signed request in registrable form for the release of registration of this Agreement from the relevant portion of the Land. (c) This clause 14.3 expressly permits parts of the Land to be progressively released from registration of this Agreement where the Monetary Contribution applicable to that part of the Land has been received by Council in full. The final part of the Land to be released from registration of this Agreement will not be released until such time as any applicable Total Monetary Contribution has been received by Council.