Common use of Replacement Security Clause in Contracts

Replacement Security. Provided that: (a) the Developer has complied with clause 10.1 and 10.2; and (b) the Transferee or Incoming Party (as the case may be) has provided the Council with a replacement Security in accordance with the requirements of Schedule 5 and on terms acceptable to the Council, the Council will promptly return the Security to the Developer.

Replacement Security. Provided that: (a) the Developer has complied with clause 10.1 and 10.28.1; and (b) the Transferee or Incoming Party or the Related Entity (as the case may be) has provided the Council with a replacement Security in accordance with the requirements of Schedule 5 4 and on terms acceptable to the Council, the Council will promptly return the Security to the Developer.

Replacement Security. ‌ Provided that: (a) the Developer has complied with clause 10.1 and 10.28.1; and (b) the Transferee or Incoming Party or the Related Entity (as the case may be) has provided the Council with a replacement Security in accordance with the requirements of Schedule 5 4 and on terms acceptable to the Council, the Council will promptly return the Security to the Developer.