Amendments to Article 13 Clause Samples
Amendments to Article 13. (A) is hereby amended by adding the following proviso at the end of the last sentence: “; provided however, that for the period beginning on the Expansion One Commencement Date and ending on the Expansion Two Commencement Date, the Electricity Additional Rent shall be reduced by Twenty Thousand Five Hundred Sixty-Five and 00/100 Dollars ($20,565.00) ($2.50 multiplied by the Space Factor attributable to the Expansion Two Space) per annum ($56.34 per day) (the “Electricity Set-Off Amount”). If Tenant shall reasonably believe that the charges with respect to electricity consumed by any third party occupying the Expansion Two Space exceeds the Electricity Set-Off Amount by more than a de minimis amount, Tenant may from time to time (but not more than two (2) times during the Term) deliver notice to Landlord requesting that Landlord determine the actual consumption of electricity by such third party, and upon receipt of such notice Landlord shall determine the amounts attributable to such third party’s usage as determined by an electric survey conducted by a third-party consultant selected by Landlord in its reasonable discretion provided that such third-party consultant shall charge no more than market competitive rates (with the cost of such electric survey to be shared equally by Landlord and Tenant), provided that Landlord’s obligations under this Section shall be limited to the enforcement of its rights to conduct such a survey pursuant to the License Agreement (as defined below). If such survey shall determine that the charges attributable to a third party’s usage with respect to the Expansion Two Space exceed the Electricity Set-Off Amount, the Electricity Set-Off Amount shall be increased by the dollar amount of such excess. Tenant shall be entitled to credit the increased Electricity Set-Off Amount against the next payment of Electricity Additional Rent due after the date of such survey, and Tenant shall also be entitled to a credit for the difference between the increased Electricity Set-Off Amount and the original Electricity Set-Off Amount to compensate Tenant for the overage of Electricity Additional Rent which Tenant paid prior to such survey.
Amendments to Article 13 is hereby deleted in its entirety and replaced with the following: all property and all cash in excess of that required to discharge liabilities of the Partnership pursuant to Section 13.3.2 shall be distributed to the Preferred Unitholders in priority to the other Partners, up to the amount of the liquidation entitlement of the Preferred Units, and any remaining amount available for distribution will be distributed to the Partners in accordance with their Percentage Interests, in each case as of the date chosen by the Liquidator. In the event that the property and cash to be distributed to the Preferred Unitholders on the liquidation of the Partnership is not sufficient to pay the full amount of the liquidation entitlement of the Preferred Units for each Preferred Unit then Outstanding, the amount available for distribution shall be paid to the Preferred Unitholders pro rata in proportion to their respective relative percentage of Preferred Units held (determined by reference to the aggregate value of the issue price of the Preferred Units held by each Preferred Unitholder relative to the aggregate value of the issue price of all Preferred Units then Outstanding). Such distributions shall be made by the end of the taxable year in which the liquidation of the Partnership occurs (or, if later, within 90 days after the date of such liquidation).