Within 50 days of the "Decisive Date" to pay a sum equal to at least 15% of the antitrust payment to the office;
Within 60 days of the "Determining Date" Complete a sum equal to at least 15% of the amount of the reduced consideration payment for the land.
Within 170 days of the "Determining Date" To sign this contract and present it to the Ministry, to produce the autonomous bank guarantees and to complete the full consideration for business restrictions paid to the Ministry. Sign the infrastructure contract and present it to the local authority.
Within 180 days of the "Determining Date" Complete the full reduced consideration for the land.
Within 210 days of the "Determining Date" Sign the lease contract and submit it to the ILA.
Within 14 months of the "Determining Date" Construction Phase 05.
Within 18 months of the "Decisive Date" Completion of construction phase 06.
Within 38 months of the "Determining Date" Completion of construction phase 39.
Within 40 months of the "Determining Date" Completion of construction phase 42.
- It is hereby clarified and agreed that the schedule and dates for the execution of the actions and works as detailed in subsection 2(a) above, is a fundamental and essential condition of this contract.
III. If the developer does not comply with the provisions of this section or part thereof, the Ministry and the ILA will be entitled, in addition to all the remedies available to them under any law, to cancel the developer's winning of the tender and all that entails it, as well as to cancel this contract."
- Construction stage 42 is defined in the definitions section of the construction contract as the completion of the adjacent development works, as well as the receipt of Form 4 and the completion of the general development works and their delivery to the local authority.
In other words, the appellant was required in the construction contract to complete the construction at the end of 40 months from the "determining date", which was defined as the date on which the tenders committee decided on the winner of the tender.
- It is also not possible to ignore the building contract as a whole, in whose preamble the Ministry of Construction and Housing declares that:
"Whereas, And the Ministry is interested in residential construction, upon completion of the general development works and adjacent development works and all that entails, in accordance with the terms and format specified in this contract.