Provisions Regarding 49ers Lease Sample Clauses

Provisions Regarding 49ers Lease. Notwithstanding anything to the contrary in this Agreement, the City shall have no obligation to convey, and the Agency shall have no obligation to accept, all or any part of the Property leased to the 49ers (the “Existing Stadium Site”) before the existing lease to the 49ers (the “49ers Lease”) has terminated or expired and the 49ers have vacated the Existing Stadium Site (the “49ers Departure”). From the date of this Agreement until the 49ers Departure, the City shall, upon request, keep the Agency and Developer reasonably apprised of any discussions with the 49ers related to (a) the termination or expiration of the 49ers Lease and/or (b) relocation plans of the 49ers. The City agrees that, unless the Agency (and, for so long as the DDA remains in effect, Developer and State Parks) provides advance written approval, it will not: (i) amend or modify the 49ers Lease in any manner that extends the term beyond the current outside expiration date (May 2023) or (ii) grant any new lease or permit for the right to use or occupy the Property by any person or entity beyond the outside expiration date of the 49ers Lease. Promptly following the 49ers Departure, the parties shall cooperate to effectuate a closing to effectuate a conveyance of the Existing Stadium Site to the Agency as contemplated by this Agreement.
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