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Agmt04 cinema - closing docs
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Agmt04 cinema - closing docs
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Last modified
7/5/2005 2:27:38 PM
Creation date
12/6/2004 9:14:09 AM
Metadata
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Template:
Agreement
Contractor Name
numerous files
PROJECT NAME
Cinema - closing documents from escrow
RMP File Number
100 bin 24
Date
11/29/2004
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<br /> Section 5.5. Construction. Within thirty (30) days after the date the building permits, <br /> licenses and other governmental approvals are secured for the performance of Landlord's Work <br /> (subject to extension for delays caused by Force Majeure) Landlord shall, in accordance with <br /> Landlord's Plans, promptly commence and thereafter diligently proceed to perform Landlord's <br /> Work. Within thirty (30) days after Tenant's Work Commencement Conditions (defined below) <br /> are satisfied, whichever is later (subject to extension for delays caused by Force Majeure), <br /> Tenant shall, in accordance with Tenant's Plans, commence and thereafter diligently proceed to <br /> perform Tenant's Work. Notwithstanding anything to the contrary, Tenant's obligation to <br /> commence and perform Tenant's Work and the commencement of Tenant's Work Period shall <br /> be subject to the satisfaction of the following conditions ("Tenant's Work Commencement <br /> Conditions"): <br /> (1) Landlord shall have obtained all entitlements and approvals from all <br /> Governmental Authorities necessary to develop the Center and to perform Landlord's <br /> Work (Landlord's Work shall not include construction of the Parking Facility) and <br /> Tenant's Work (other than building permits, covered below), including the development <br /> of Premises containing not less than 20 theater screens and not less than 4,200 theater <br /> seats; <br /> (2) Tenant shall have obtained the building permit for Tenant's Work, and <br /> Landlord shall have provided evidence to Tenant of the insurance required of Landlord <br /> under Article 7 of the Lease and Section 5.3 above; <br /> (3) Landlord and Tenant shall have approved the final plans and specifications <br /> for Tenant's Work and Landlord's Work in accordance with this Work Letter; <br /> (4) Landlord shall have (A) completed Landlord's Work sufficiently to allow <br /> Tenant to commence and thereafter perform and complete Tenant's Work without delay <br /> caused by any incomplete aspects of Landlord's Work, such date to be jointly determined <br /> and conf1ID1ed in writing by the parties, in good faith (subject to resolution by arbitration <br /> pursuant to Section 18.5 of the Lease, if requested by either party), and (B) the City shall <br /> have commenced construction of the Parking Facility and provided to Tenant a copy of <br /> the then current construction schedule and such other further assurances as Tenant may <br /> reasonably require to ensure that the Parking Facility and the Common Areas and other <br /> facilities within and adjacent to the Protected Area will be substantially completed and <br /> available for use not later than thirty (30) days prior to the expiration of Tenant's Work <br /> Period; and <br /> (5) Satisfaction or written waiver by Tenant of the conditions precedent <br /> specified in Section 2.3 of the Lease. <br /> Landlord shall provide not less than forty-five (45) days' prior written notice to Tenant of <br /> the date Landlord anticipates satisfying the condition specified in item 4 above. Landlord and <br /> Tenant shall cooperate in good faith and use commercially reasonable efforts to satisfy the <br /> foregoing conditions. <br /> '" <br /> . "_... .....' <br />
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