Document ID: 14743

Text:
(a) Landlords Right to Submit Landlords MCI Financing Proposal. In advance of commencing any Work in connection with any Material Capital Improvement (provided, for purposes of clarification, that preliminary planning, designing, budgeting, evaluating (including environmental and integrity testing and the like) (collectively, Preliminary Studies), permitting and demolishing in preparation for such Material Capital Improvement shall not be considered commencing for purposes hereof), Tenant shall provide written notice (Tenants MCI Intent Notice) of Tenants intent to do so, which notice shall be accompanied by (i)a reasonably detailed description of the proposed Material Capital Improvement, (ii)the then-projected cost of construction of the proposed Material Capital Improvement, (iii)copies of the plans and specifications, permits, licenses, contracts and Preliminary Studies concerning the proposed Material Capital Improvement, to the extent then- available, (iv)reasonable evidence that such proposed Material Capital Improvement will, upon completion, comply with all applicable Legal Requirements, and (v)reasonably detailed information regarding the terms upon which Tenant is considering seeking financing therefor, if any. To the extent in Tenants possession or control, Tenant shall provide to Landlord any additional information about such proposed Material Capital Improvements which Landlord may reasonably request. Landlord (or, with respect to financing structured as a loan rather than as ownership of the real property by Landlord with a lease back to Tenant, Landlords Affiliate) may, but shall be under no obligation to, provide all or any portion of the financing necessary to fund the applicable Material Capital Improvement (along with related fees and expenses, such as title fees, costs of permits, legal fees and other similar transaction costs) by complying with the option exercise requirements set forth below. Within thirty(30) days of receipt of Tenants MCI Intent Notice, Landlord shall notify Tenant in writing as to whether Landlord (or, if applicable, its Affiliate) is willing to provide financing for such proposed Material Capital Improvement and, if so, the terms and conditions upon which Landlord (or, if applicable, its Affiliate) is willing to do so in reasonable detail, in the form of a proposed term sheet (such terms and conditions, Landlords MCI Financing Proposal). Upon receipt, Tenant shall have ten(10) days to accept, reject or commence negotiating Landlords MCI Financing Proposal.

Named Entities:

Tokenized Text:
(
a
)
Landlords
Right
to
Submit
Landlords
MCI
Financing
Proposal
.
In
advance
of
commencing
any
Work
in
connection
with
any
Material
Capital
Improvement
(
provided
,
for
purposes
of
clarification
,
that
preliminary
planning
,
designing
,
budgeting
,
evaluating
(
including
environmental
and
integrity
testing
and
the
like
)
(
collectively
,
Preliminary
Studies
)
,
permitting
and
demolishing
in
preparation
for
such
Material
Capital
Improvement
shall
not
be
considered
commencing
for
purposes
hereof
)
,
Tenant
shall
provide
written
notice
(
Tenants
MCI
Intent
Notice
)
of
Tenants
intent
to
do
so
,
which
notice
shall
be
accompanied
by
(
i
)
a
reasonably
detailed
description
of
the
proposed
Material
Capital
Improvement
,
(
ii
)
the
then-projected
cost
of
construction
of
the
proposed
Material
Capital
Improvement
,
(
iii
)
copies
of
the
plans
and
specifications
,
permits
,
licenses
,
contracts
and
Preliminary
Studies
concerning
the
proposed
Material
Capital
Improvement
,
to
the
extent
then
-
available
,
(
iv
)
reasonable
evidence
that
such
proposed
Material
Capital
Improvement
will
,
upon
completion
,
comply
with
all
applicable
Legal
Requirements
,
and
(
v
)
reasonably
detailed
information
regarding
the
terms
upon
which
Tenant
is
considering
seeking
financing
therefor
,
if
any
.
To
the
extent
in
Tenants
possession
or
control
,
Tenant
shall
provide
to
Landlord
any
additional
information
about
such
proposed
Material
Capital
Improvements
which
Landlord
may
reasonably
request
.
Landlord
(
or
,
with
respect
to
financing
structured
as
a
loan
rather
than
as
ownership
of
the
real
property
by
Landlord
with
a
lease
back
to
Tenant
,
Landlords
Affiliate
)
may
,
but
shall
be
under
no
obligation
to
,
provide
all
or
any
portion
of
the
financing
necessary
to
fund
the
applicable
Material
Capital
Improvement
(
along
with
related
fees
and
expenses
,
such
as
title
fees
,
costs
of
permits
,
legal
fees
and
other
similar
transaction
costs
)
by
complying
with
the
option
exercise
requirements
set
forth
below
.
Within
thirty
(
30
)
days
of
receipt
of
Tenants
MCI
Intent
Notice
,
Landlord
shall
notify
Tenant
in
writing
as
to
whether
Landlord
(
or
,
if
applicable
,
its
Affiliate
)
is
willing
to
provide
financing
for
such
proposed
Material
Capital
Improvement
and
,
if
so
,
the
terms
and
conditions
upon
which
Landlord
(
or
,
if
applicable
,
its
Affiliate
)
is
willing
to
do
so
in
reasonable
detail
,
in
the
form
of
a
proposed
term
sheet
(
such
terms
and
conditions
,
Landlords
MCI
Financing
Proposal
)
.
Upon
receipt
,
Tenant
shall
have
ten
(
10
)
days
to
accept
,
reject
or
commence
negotiating
Landlords
MCI
Financing
Proposal
.