Page 7 - Demo

“Finally Determined” means when judgement has been given in respect of any Planning Proceedings or any Appeal and any further proceedings arising therefrom.
“Interest Rate” means four per cent (4%) over the base rate of National Westminster Bank plc applicable from time to time.
“Joint Decision” means a decision made and agreed or ratified in writing by the Parties and to which the Parties are not to withhold or delay their approval unreasonably.
“Land Sale Documents” the documentation for Sale agreed pursuant to this Agreement including a contract for Sale transfer deed and such other documents as shall be reasonably required in connection with such Sale.
“Mortgagee” means the National Westminster Bank plc (company no. 929027) who are the registered proprietor of the charge dated 22 November 1998.
“Leases” means:
A lease of part if the Property (including airspace) dated 3 June 2015 between (1) The Gatley Golf Club Limited and (2) Amped Investments Limited;
A lease of the whole of a building at the Property dated 7 June 2000 between (1) The Gatley Golf Club Limited and (2) Heald Green Theatre Co Limited.
“Longstop Date” means:
(a) if the Promotion Period has been extended in accordance with clause
3, the date ten (10) years from the date hereof; and
(b) if the Promotion Period has not been extended in accordance with clause 3, the date seven (7) years from the date hereof.
“Marketing Agent” means the agent or agents appointed by the Parties by Joint Decision pursuant to Schedule 2 paragraph 1.2 to implement the Strategy or such other firm as may be appointed by Joint Decision.
“Marketing Period” means the period of three (3) years from the date:
(a) twenty (20) Working Days after the expiry of the Challenge Period in respect of each Relevant Planning Permission if no Planning Challenge has been brought or if later the expiry of the Relevant Planning Permission; or
(b) if a Planning Challenge is instigated within the Challenge Period the date twenty (20) Working Days after such Planning Challenge has been Finally Determined,
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/Users/georgegriffiths/Library/Containers/com.apple.mail/Data/Library/Mail Downloads/6663C249-66B1-4856-B8AF-3D567A64A39C/Promotion Agreement (engrossment) (JMW).doc