WHEREBY PARENT HAS GUARANTEED TENANT'S PAYMENT OBLIGATIONS UNDER THE LEASE IN AN
AMOUNT NOT TO EXCEED $1.8 MILLION, AND IF THE FINANCIAL RATING OF PARENT, BY
STANDARD & POOR'S CORPORATION OR MOODY'S INVESTOR SERVICE, INC. REMAINS AT OR
ABOVE AN INVESTMENT GRADE RATING OF BAA3 OR BBB-, THE AUTHORITY HEREBY AGREES
THAT THE TENANT MAY TERMINATE ITS LETTER OF CREDIT REQUIRED BY SECTION 1201.
SHOULD, HOWEVER, SUBSEQUENT TO THE TERMINATION OF THE LETTER OF CREDIT, THE
FINANCIAL RATING OF PARENT, BY STANDARD & POOR'S CORPORATION AND MOODY'S
INVESTOR SERVICE, INC., DECREASE BELOW THE INVESTMENT GRADE RATING OF BAA3 AND
BBB-, TENANT SHALL REINSTATE A LETTER OF CREDIT FROM AN ISSUER ACCEPTABLE TO THE
AUTHORITY IN ACCORDANCE WITH THE PROVISIONS OF SECTION 1201 ABOVE WITHIN SIXTY
(60) DAYS OF THE DATE OF THE LATEST RATING DOWNGRADE, AT WHICH TIME THE GUARANTY
WILL TERMINATE.
IN NO EVENT WHATSOEVER SHALL THE PARENT BE OBLIGATED TO EXECUTE
THE GUARANTY; PROVIDED, HOWEVER, THAT IF THE PARENT DOES NOT EXECUTE A GUARANTY,
THE LETTER OF CREDIT MUST BE AND REMAIN IN EFFECT.
ARTICLE XIII.
AUTHORITY'S RESERVATIONS
SECTION 1301.
IMPROVEMENT, RELOCATION OR REMOVAL.
THE
AUTHORITY, AT ITS SOLE DISCRETION, RESERVES THE RIGHT TO FURTHER DEVELOP OR
IMPROVE THE AIR OPERATIONS AREAS AND OTHER PORTIONS OF THE AIRPORT, INCLUDING
WITHOUT LIMITATION THE RIGHT TO REMOVE OR RELOCATE ANY UNAPPROVED STRUCTURE ON
THE AIRPORT, AS IT SEES FIT, AND TO TAKE ANY ACTION IT CONSIDERS NECESSARY TO
PROTECT THE AERIAL APPROACHES OF THE AIRPORT AGAINST OBSTRUCTIONS, TOGETHER WITH
THE RIGHT TO PREVENT TENANT FROM ERECTING OR PERMITTING TO BE ERECTED ANY
UNAPPROVED BUILDING OR OTHER STRUCTURE ON THE AIRPORT WHICH, IN THE OPINION OF
THE AUTHORITY, WOULD LIMIT THE USEFULNESS OF THE AIRPORT OR CONSTITUTE A HAZARD
TO AIRCRAFT.
SECTION 1302.
INSPECTION OF LEASED PREMISES; EXHIBITION
OF LEASED PREMISES.
THE AUTHORITY, THROUGH ITS DULY AUTHORIZED AGENT OR AGENTS,
SHALL HAVE AT ANY REASONABLE TIME THE FULL AND UNRESTRICTED RIGHT TO ENTER THE
LEASED PREMISES FOR THE PURPOSE OF PERIODIC INSPECTION FOR FIRE PROTECTION,
ENVIRONMENTAL LAW COMPLIANCE, FOR THE PURPOSE OF REPAIRS, REPLACEMENTS, AND
MAINTENANCE, FOR THE PURPOSE OF PERFORMING THE AUTHORITY'S OBLIGATIONS UNDER
THIS LEASE AGREEMENT, AND FOR THE PURPOSE OF INVESTIGATING COMPLIANCE BY TENANT
WITH THE TERMS OF THIS LEASE AGREEMENT; PROVIDED, HOWEVER, THAT EXCEPT IN THE
CASE OF EMERGENCY OR EXCEPT AS PROVIDED IN THE FOLLOWING SENTENCE, THIS RIGHT
SHALL BE EXERCISED ONLY UPON REASONABLE PRIOR NOTICE TO TENANT.
THE AUTHORITY
ALSO SHALL HAVE THE RIGHT TO ENTER THE LEASED PREMISES DURING TENANT'S NORMAL
BUSINESS HOURS AND WITH REASONABLE ADVANCE WRITTEN NOTICE TO TENANT FOR THE
PURPOSE OF EXHIBITING THE LEASED PREMISES TO PROSPECTIVE MORTGAGEES, PROSPECTIVE
PURCHASERS AND PROSPECTIVE TENANTS; PROVIDED, HOWEVER, THAT WITH RESPECT TO
EXHIBITING THE LEASED PREMISES TO PROSPECTIVE TENANTS, THE AUTHORITY SHALL ONLY
HAVE THE RIGHT TO ENTER THE LEASED PREMISES TO DO SO (A) DURING THE LAST TWELVE
(12) MONTHS OF THE TERM, (B) FROM AND AFTER THE TIME THAT THE AUTHORITY'S RIGHTS
ARE TRIGGERED UNDER SECTION 2105 BELOW, (C) FROM AND