In 2000, the applicant developer (AGS) and the respondent manager (Belgravia) executed an agreement (Dingley agreement) governing the construction and operation of an adventure golf course and the sharing of revenue after the deduction of expenses. Under cl 6, the duration of the Dingley agreement was expressed to continue to have effect for so long as Belgravia occupied the site ‘in accordance with’ a management agreement between Belgravia and Parks Victoria. Over time, the management agreement was extended twice: once by variation and again by the exercise of an option term by Parks Victoria.