Viable and Viability definition
Viable and Viability. Means a percentage of profit on the gross development value for the Development determined by the Council as providing a competitive return for the Landowner after taking into account the covenants and obligations contained in the Third Schedule to this Agreement and the guidance on viability given in the Supplementary Planning Document. Viability shall be determined following completion of the Viability Appraisal(s) for the Development (or revised Development where a later variation to the Third Schedule of this Agreement has been agreed and executed by the Council).