Common use of Condemnation Repair Work Clause in Contracts

Condemnation Repair Work. In the event of (i) a Condemnation Action affecting less than the whole of the Land or Substantially All of the Project Improvements or (ii) a Condemnation Action affecting the whole of the Land or Substantially All of the Project Improvements and StadCo does not exercise its option to terminate this Agreement pursuant to Section 15.1, the Project Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Land and Project Improvements to substantially their former condition to the extent feasible and necessary. Such repairs, alterations, or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 15 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the amount of twenty million dollars ($20,000,000), the Authority shall have the right to (i) Approve the terms of the contracts with the general contractor and lead architect, if any, to perform the Condemnation Repair Work, (ii) Approve all contracts requiring payment greater than ten million dollars ($10,000,000) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and

Condemnation Repair Work. In the event of (i) a Condemnation Action affecting less than the whole of the Land Premises or Substantially All of the Project Improvements or (ii) a Condemnation Action affecting the whole of the Land Premises or Substantially All any material part of the Project Improvements Premises and StadCo does not exercise its option to terminate this Agreement pursuant to Section 15.111.3, the Project Term shall not be reduced or affected in any way, and StadCo shall, with reasonable diligence (subject to Force Majeure), commence and thereafter proceed to repair, alter, and restore the remaining part of the Land and Project Improvements Premises to substantially their its former condition to the extent feasible and necessarynecessary so as to cause the same to constitute a complete sports and entertainment stadium complex usable for its intended purposes to the permitted by Applicable Laws and in compliance with the NFL Rules and Regulations and sufficient to continue to host events and meet the Facility Standard. Such repairs, alterations, alterations or restoration, including temporary repairs for the protection of Persons or Property pending the substantial completion of any part thereof, are referred to in this Article 15 11 as the “Condemnation Repair Work.” With respect to any Condemnation Repair Work exceeding the amount cost of twenty million dollars Twenty Million and No/100 Dollars ($20,000,000), the 20,000,000.00),the Authority shall have the right to to (i) Approve the general contractor and lead architect, if any, selected by StadCo to perform the Condemnation Repair Work, (ii) approve the terms of the contracts with the general contractor and lead architect, if any, selected by StadCo to perform the Condemnation Repair Work, (iiiii) Approve approve all contracts requiring payment greater than ten million dollars Ten Million and No/100 Dollars ($10,000,00010,000,000.00) recommended by StadCo to be entered into by StadCo for the Condemnation Repair Work, and