Common use of VOIDING AGREEMENT Clause in Contracts

VOIDING AGREEMENT. In the event that the Plan of Subdivision is not registered within three years from the date of signing the Subdivision Agreement, the Town may, at its option, declare this Agreement to be null and void, and any deposits or security in possession of the Town shall be forfeited to the Town who shall secure any balance owing with respect to preparation, administration, review and processing of this agreement.

VOIDING AGREEMENT. In the event that Phase 1 of the Plan of Subdivision is not registered within three five years from the date of signing the Subdivision Agreement, the Town may, at its option, declare this Agreement to be null and void, and any deposits or security in possession of the Town shall be forfeited to the Town who shall secure any balance owing with respect to preparation, administration, review and processing of this agreement.