Page 31 - Demo
P. 31
8 EXTENSIONS TO THE PROMOTION PERIOD
8.1 If at the end of the Promotion Period:
8.1.1 the Promoter is awaiting determination of any Planning Application by the local planning authority (or otherwise);
8.1.2 the local planning authority have resolved to grant a Relevant Planning Permission subject to a Planning Agreement being entered into but the same has not been entered into;
8.1.3 the Promoter is awaiting the result of any Planning Challenge;
8.1.4 the Promoter receives or has received a Planning Refusal and the Promoter has commenced an Appeal; or
8.1.5 the Promoter has obtained an Allocation for the Property but has yet to submit a Planning Application;
then the Promotion Period shall be extended up to and including the Longstop Date.
8.2 In the event of a TVG the Promotion Period shall be automatically extended to the earlier of the Longstop Date and the date which is two (2) years from the date the parties become actually aware of the TVG.
8.3 If the Promotion Period is extended pursuant to this Schedule 1 then any references elsewhere in this Agreement to the Promotion Period are to be read as references to the Promotion Period as so extended.
8.4 For the avoidance of doubt the extensions to the Promotion Period pursuant to this Schedule 1 may occur on more than one occasion, provided always that the Promotion Period cannot be extended beyond the Longstop Date.
28
/Users/georgegriffiths/Library/Containers/com.apple.mail/Data/Library/Mail Downloads/6663C249-66B1-4856-B8AF-3D567A64A39C/Promotion Agreement (engrossment) (JMW).doc