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Schedule 25

4/chedule 25 - Refund Termination EventRefund Termination Event means that a right to Terminate this Agreement pursuant to one ormore of the provisions of this Agreement which are specified in Column A of the table belowhas occurred and no corresponding Cessation Event specified in Column C of such tablehas occurred before the date of the Termination or Expiry of this Agreement (and where thereis no corresponding Cessation Event specified then if the relevant circumstances giving riseto a right to Terminate this Agreement shall have occurred there shall be deemed to be asubsisting Refund Termination Event for all purposes) Provided that where the Buyer is notpermitted to Terminate this Agreement until the relevant matter shall have been referred to theProject Delivery Group for a specified period or have been referred to the Expert pursuant toclause 40 then if the Refund Termination Event is still subsisting when the matter is referred tothe Project Delivery Group (or the Expert as the case may be) the relevant event shall still be aRefund Termination Event where following determination pursuant to the reference to theProject Delivery Group (or the Expert as the case may be) the Buyer remains entitled toTerminate whether or not the relevant event subsists at that time.

Column A Column B Column CTermination Event Description of Termination Event Cessation Event

ProvisionService of notice by If the Halfway Condition has not beenthe Counc il pursuant satisfied on or b efore the H alfwayto Paragraph 1.9 of Condition Date.Schedule 16Paragraph 4.2.1 of Wh ere the Counc il has failed to Com pletion of the relevant TimeSchedule 16 complete any T ime Critical Item by Critical Item.

the e xpiry of the relevant Time CriticalItem Completion Period for such TimeCritical Item.

Paragraph 4.2.2 of Whe re the A ppropriation of Council s N/ASchedule 16 interests pursuant to paragraph5.10.4 of Part 1 of Sche dule 6 doe s

not occur within the time specifiedtherein or where such Appropriationfails for whatever reason.

Paragraph 4.2.3 of Where an Appropriation Scheme has Agreement as to theSchedu le 16 not been agreed betwee n the parties Appropriation Scheme.pursuant to paragraph 5 .1.4 of Part I

of Schedule 6.Paragraph 4.2.4 of Where an Appropriation Scheme has The Appropriation Scheme beingSchedule 16 not been implemented as required by implemented.paragraph 5.1.6 of Part 1 of Sche dule

6.Paragraph 4.2.5 of Where a CPO has not been made The Council making the CPO.Schedu le 16 within 6 months following a CPO StartNotice in respect of such CPO .Paragraph 4.2.5 of Whe re the Coun cil fails to confirm a The CPO being confirmed.Schedule 16 CPO within 2 months of being

enabled to so.

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Column Column B olumnTermination Event Description of Termination Event Cessation Event

ProvisionParagraph 4.2.6 of Wh ere a Council s Abandonme nt N/ASchedu le 16 Event has occurred.Paragraph 4.2.7 of Where the Secretary of State has The Secretary of S tate confirmingSche dule 16 either (1) decided not to confirm a the relevant Satisfactory CPO.

Satisfactory CPO or (2) has not w ithin12 months of the Application for suchconfirmation, made a decisionconfirming the same.

Paragraph 4.2.8 of Whe re the Council does not make a All relevant GVDs being madeSche dule 16 GVD and/or serve notices to treat or and/or service of all relevant

notices of entry in respec t of all Third notices to treat or notices ofParty Interests within 20 Working entry.Days of the B uyer s request to do so.

Paragraph 4.2.9 of Whe re the Cou ncil fai ls to secure The C ouncil securing such v acantSchedule 16 vacant possession of any CPO Land possession and completing theand complete the Relevant Phase Relevant Phase Transfer.Transfer and the transfer of all Third

Party Interests by the relevant VPDate (whether or not a VPAbandonment Event has occurred).

Paragraph 4.2.10 of Wh ere a S atisfactory Closure Order N/ASchedule 16 is necessary to enable a Phase to be

deve loped but has not been obtained(or is not free from Ch allenge) by theVP Date for the Relevant Phase .

Paragraph 4.2.12 of If the Cou ncil fails to perform its Such payments being made.Schedule 16 obligations in relation to the making of

payments within 90 days of the samehaving been de mande d in writing andbecoming due.

Paragraph 4.2.13 of A breach by the Council of the Such breach being remediedSchedule 16 Council s other obligations and such within the notice period spe cified.

breach not being remedied within the90 days notice period specified inparagraph 4.12.13 of Sch edule 16.

Paragraph 4.2.14 of Wh ere there is a Challenge in respect N/ASchedule 16 of the matters specified in that

paragraph.

1 The d escriptions of the Termination Events which are set out in Column B of the above tableare for ease of reference only and do not form part of this Agreement.

2 . A Re fund Termination Eve nt shall also be de emed to arise in any circumstances where inrelation to this Agreement or any other agreement that is supplemental to this Agreement

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