Contemplated Redevelopment definition
Examples of Contemplated Redevelopment in a sentence
If any mechanic's or construction lien (a “Construction Lien”) is filed against the Demised Premises arising out of Contemplated Redevelopment or any Alterations or other work, materials or services provided to Tenant, Tenant shall, at its own cost and expense, cause the same to be discharged of record or transferred to a bond or other security so that it no longer encumbers the Demised Premises, within thirty (30) days after written demand from Landlord.
If Tenant proceeds with the Contemplated Redevelopment, Tenant will submit to Landlord for its approval plans and specifications for the Contemplated Redevelopment (together with any revisions thereto, the “Preliminary Plans”).
As used in this Section Permits and Approvals include, but are not limited to (i) site plan approvals, planned development approvals, special exceptions and variances, site development permits, stormwater management permits and building permits required for the Contemplated Redevelopment; and (ii) approvals, agreements, consents and other authorizations required in connection with the Landlord's Environmental Matters referenced in Article XX (“Environmental Redevelopment Permits”).
Landlord and Tenant agree to fully cooperate with each other to agree upon and implement such legal and engineering controls as may be required under the Consent Order or for the Contemplated Redevelopment.
Landlord acknowledges that the Environmental Redevelopment Permits may have requirements different than, in addition to, or with timing different than would otherwise be required by the Consent Order (as defined in Section 20.01) or would otherwise be implemented by Landlord (for example, a requirement that contaminated soils be removed from the Demised Premises at the time the new Improvements to be part of the Contemplated Redevelopment are constructed).
This is intended to allow Landlord to stay fully informed as to the status of the Contemplated Redevelopment, it is not intended to require Tenant to obtain or prepare any items that would not otherwise be obtained or prepared by Tenant.
Tenant will deliver to Landlord such items that Landlord (or any Fee Mortgagee) may reasonably request relative to the Contemplated Redevelopment to the extent in Tenant's possession or subject to Tenant's control, including, but not limited to, surveys, plans and specifications, construction contracts, title updates, lien releases and waivers, notices to owner, contractor's affidavits and claims of lien.
Tenant shall, however, have the right to defer maintenance and repairs required under this Section and Section 6.01, to the extent that the subject Improvements will be impacted by the Contemplated Redevelopment.
Landlord has advised Tenant that if possession of the Premises is not surrendered to Landlord upon the expiration or sooner termination of the Term, such holdover may likely expose Landlord to a risk of reduction or loss of Landlord’s committed financing for the Contemplated Redevelopment and possibly other damages (although Landlord acknowledges that there are circumstances in which Landlord may delay or not undertake the Contemplated Redevelopment).
Landlord may make such repairs, alterations or improvements as Landlord may consider reasonably appropriate to accomplish such reletting (exclusive of the Contemplated Redevelopment), and Tenant shall reimburse Landlord upon demand for all reasonable costs and expenses (including, but not limited to, the costs of such repairs, alterations or improvements, leasing commissions and attorneys’ fees) which Landlord may incur in connection with such reletting (exclusive of the Contemplated Redevelopment).