Common use of Emergency Expenditures Clause in Contracts

Emergency Expenditures. As more fully set forth in Section 5.1 hereof, Tenant shall use commercially reasonable efforts to comply with the Development Plan and Budget. Notwithstanding anything contained in this Agreement to the contrary, in the event of any emergency affecting the safety of persons or property, or which is likely to result in substantial injury, damage or loss to the Landlord, Tenant is hereby authorized to act in a manner intended to mitigate or prevent threatened damage, injury or loss and, in connection therewith, if deemed prudent by the Tenant, and Tenant shall be entitled to make expenditures in excess of the limitations set forth in the Development Plan and Budget, without the necessity of securing the approval by the Landlord prior to such expenditure. Tenant shall deliver written notice to Landlord summarizing such emergency expenditures, together with copies of all invoices, receipts and other written documentation evidencing the amounts owing and/or payable. Upon Landlord’s approval of such expenditures, which approval shall not be unreasonably withheld, such expenditures shall be deemed to constitute Budgeted Development Costs.