WITH THE
GENERAL PRINCIPLES OF EQUITY.
(C)
NO APPROVALS OR CONSENTS, OTHER THAN THOSE
THAT HAVE BEEN OBTAINED, ARE NECESSARY FOR TENANT TO EXECUTE AND DELIVER THIS
LEASE AGREEMENT.
(D)
THIS LEASE AGREEMENT HAS BEEN DULY EXECUTED
AND DELIVERED BY THE DULY AUTHORIZED OFFICERS OF TENANT.
(E)
THERE IS NO LITIGATION NOW PENDING OR, TO
TENANT'S KNOWLEDGE, THREATENED THAT CHALLENGES OR WOULD CHALLENGE THE EXECUTION
OF THIS LEASE AGREEMENT, OR THAT COULD REASONABLY BE EXPECTED TO HAVE A MATERIAL
ADVERSE EFFECT ON THE TENANT'S ABILITY TO PERFORM HEREUNDER.
(F)
NEITHER THE EXECUTION AND DELIVERY OF THIS
LEASE AGREEMENT, THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED HEREBY, NOR
THE FULFILLMENT OF OR COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LEASE
AGREEMENT, WILL CONFLICT WITH THE TENANT'S ARTICLES OF INCORPORATION OR BY-LAWS
OR CONFLICT WITH OR RESULT IN A MATERIAL BREACH OF ANY OF THE TERMS, CONDITIONS
OR
20
PROVISIONS OF ANY AGREEMENT OR OTHER INSTRUMENT TO WHICH TENANT IS NOW A PARTY
OR BY WHICH IT IS BOUND, OR CONSTITUTE A MATERIAL DEFAULT UNDER ANY OF THE
FOREGOING, OR RESULT IN THE CREATION OR IMPOSITION OF ANY MATERIAL LIEN, CHARGE
OR ENCUMBRANCE OF ANY NATURE WHATSOEVER UPON ANY OF THE PROPERTY OR ASSETS OF
TENANT UNDER THE TERMS OF ANY INSTRUMENT OR AGREEMENT.
(G)
EXCEPT FOR THOSE AUTHORITY PERMITS TO BE
OBTAINED AND MAINTAINED BY THE AUTHORITY, TENANT HAS DULY AND VALIDLY OBTAINED
(OR SHALL HEREAFTER DULY AND VALIDLY OBTAIN AS AND WHEN NECESSARY), AND SHALL
MAINTAIN IN FULL FORCE AND EFFECT DURING THE TERM, ALL SUCH CERTIFICATES,
LICENSES AND PERMITS FROM ALL GOVERNMENTAL ENTITIES, REQUIRED OR APPROPRIATE TO
ENABLE TENANT TO CARRY ON TENANT'S BUSINESS AS IT IS NOW CONDUCTED AND
SUBSEQUENTLY CONDUCTED AND/OR TO ENABLE TENANT TO ENTER INTO THIS LEASE
AGREEMENT, INCLUDING WITHOUT LIMITATION A "REPAIR STATION CERTIFICATE" AS
REQUIRED UNDER 14 CFR PART 145 (THE "145 CERTIFICATE").
(H)
TENANT SHALL DELIVER TO THE AUTHORITY, FOR THE
AUTHORITY'S BENEFIT AND RELIANCE, ON THE EFFECTIVE DATE, AN OPINION, CONCERNING
SUCH MATTERS IN THIS SECTION 302 AS ARE REASONABLY SATISFACTORY TO THE
AUTHORITY, SIGNED BY AN AUTHORIZED PERSON AT TENANT'S INSIDE COUNSEL, IN FORM
REASONABLY ACCEPTABLE TO THE AUTHORITY.
ARTICLE IV.
OPTION TO EXPAND LEASED PREMISES
SECTION 401.
TENANT'S OPTION TO EXPAND LEASED
PREMISES.
THE TERM "EXPANSION SPACE" MEANS THAT PORTION OF THE LAND AND
FACILITIES THAT IS SHOWN ON EXHIBIT E ATTACHED HERETO, WHICH CONSISTS OF THE
FOLLOWING AREAS (EACH, AN "EXPANSION AREA"): (A) THE MACHINE SHOP AREA,
CONSISTING OF APPROXIMATELY FORTY-TWO THOUSAND THREE HUNDRED FORTY-SIX (42,346)
SQUARE FEET; (B) THE INTERIOR SHOP AREA, CONSISTING OF APPROXIMATELY FIFTY-SIX
THOUSAND NINE HUNDRED EIGHTY-EIGHT (56,988) SQUARE FEET; (C) THE COMPOSITE SHOP
AREA #1, CONSISTING OF APPROXIMATELY SEVENTY-EIGHT THOUSAND FIVE HUNDRED
FORTY-NINE (78,549) SQUARE FEET; AND (D) THE COMPOSITE SHOP AREA #2, CONSISTING
OF APPROXIMATELY SEVENTY-EIGHT THOUSAND FIVE HUNDRED FORTY-NINE (78,549) SQUARE
FEET. TENANT, AT ITS OPTION, MAY EXPAND THE LEASED PREMISES TO INCLUDE ONE OR
MORE OF THE EXPANSION AREAS, SUBJECT TO THE FOLLOWING TERMS AND CONDITIONS (THE
"EXPANSION OPTION"):