Common use of Named Competitors Clause in Contracts

Named Competitors. Tenant shall have the right to request, provided that such request shall not be made more than one (1) time in any calendar year to update the list of Competitors on Exhibit N that Tenant identifies in good faith as direct competitors of Tenant's business. Any such request to update such list of Competitors shall be made in writing by Tenant to Landlord and shall include Tenant's proposed good faith revised list of Competitors (i.e., the complete list, such that upon approval (or deemed approval) of the same in accordance with the terms of this Section 29, the prior existing Exhibit N will be superseded by the newly approved list of Competitors). In no event will the list of Competitors exceed twenty (20) named parties. For the purpose of this Section 29, the list of Competitors identified on Exhibit N from time to time shall be deemed to be only (i) the named specified party, and (ii) any majority owned subsidiary of such named specified party with substantially the same name as such specified party, and (except as set forth in subpart (ii) of this sentence) shall not be deemed or construed to apply to any affiliate, subsidiary or party related to such named party (unless such affiliate, subsidiary or party related to such named party is specifically listed on Exhibit N). Landlord shall have ten (10) business days to review and approve such new list of Competitors proposed by Tenant, such approval not to be unreasonably withheld, conditioned or delayed. Until Landlord's approval or deemed approval 6f any such new list of proposed Competitors, only the parties then specified on Exhibit N will be "Competitors" for the purpose of this Lease .. If Landlord, fails to approve or disapprove of Tenant's request to update the list of Competitors within such ten (10) business day period, Tenant shall send, Within five (5) business days after the expiration of such ten (10) business day period, to Landlord a second such notice, prominently including the words "THIS IS A SECOND NOTICE AND REQUEST FOR APPROVAL; FAILURE TO RESPOND WILL RESULT IN DEEMED APPROVAL" in all capital letters and bold font, and if Landlord shall fail to object in writing to Tenant's request to update the list of Competitors within five (5) business days after Landlord's receipt of Tenant's second such notice, Landlord shall be deemed to have approved of Tenant's proposed updated list of Competitors. In addition to Tenant's right to update the list of Competitors from time to time herein, Landlord shall have an identical right to request Tenant's approval to remove any then-named competitor on Exhibit N that has expressed an interest in writing (which may be in the form of an email) (or has made a written inquiry [including a written inquiry through a broker], either of which written inquiries may be in the form of an email), or intends to lease or sublease space, in the Complex and Landlord believes in good faith may no longer be a competitor ofTen ant. Tenant shall review and approve, such approval not to be unreasonably withheld, conditioned or delayed, any such request by Landlord in the same manner and under the same terms of this Section 29 as if Tenant was "Landlord" hereunder. Upon the approval or deemed approval of any modification of the list of Competitors specified on Exhibit N, then such modified list shall be deemed to be the "Competitors" hereunder, and upon the request of Landlord or Tenant, the parties shall promptly execute an amendment to this Lease specifying the list of Competitors.