Common use of Construction of Air Rights Infrastructure Clause in Contracts

Construction of Air Rights Infrastructure. The City shall deliver the Air Rights Infrastructure to BSD on or before the Air Rights Infrastructure Delivery Date. In the event City fails to deliver the Air Rights Infrastructure to BSD on or before the Air Rights Infrastructure Delivery Date (as the same may have been extended by any Excusable City Delay Period), City shall have the continuing right and option to extend the Air Rights Infrastructure Delivery Date, as such Air Rights Infrastructure Delivery Date may be extended pursuant to the terms of this Section 5.4 so that City may complete the Air Rights Infrastructure, provided each of the following requirements is satisfied: (a) City must continue to diligently and continuously prosecute the construction of the Air Rights Infrastructure (subject to Excusable City Delay) after the Air Rights Infrastructure Delivery Date (as the same may have been extended by Excusable City Delay or the terms of this Section 5.4). (b) So long as this Agreement is in full force and effect and a BSD Default does not remain uncured, City shall assign to BSD the Air Rights Infrastructure Late Opening Charges, as liquidated damages and not as a penalty as BSD’ sole and exclusive remedy, for each day after the original Air Rights Infrastructure Delivery Date (as the same may have been extended by Excusable City Delay Period) which elapses before Substantial Completion of the Air Rights Infrastructure. City, Club and BSD agree that because of the difficulty or impossibility of determining Club’s and BSD’ damages as a result of such a delay in Substantial Completion of the Air Rights Infrastructure, the difficulties of proof of loss and the inconvenience or non- feasibility of BSD otherwise having a remedy for such failure to achieve Substantial Completion of the Air Rights Infrastructure by the original Substantial Completion Deadline (as the same may have been extended by any Excusable Delay Period or the terms of this Section 5.4), the Air Rights Late Opening Charges are a reasonable amount to be paid for such failure. Provided that the City is not the cause of such delay, the City shall not be obligated to pay Late Opening Charges to Club or BSD or to pay any other damages for delay to Club or BSD, it being agreed that the sole source for payment of Late Opening Charges shall be the Contractor pursuant to the Venue Construction Contract. Any delays associated with infrastructure needs on the Bull Street Site to support the Venue shall not be considered City delays and, for avoidance of doubt, shall not result in an obligation for the City to pay damages for delay to BSD or Club.

Construction of Air Rights Infrastructure. The City shall deliver the Air Rights Infrastructure to BSD on or before the Air Rights Infrastructure Delivery Date. In the event City fails to deliver the Air Rights Infrastructure to BSD on or before the Air Rights Infrastructure Delivery Date (as the same may have been extended by any Excusable City Delay Period), City shall have the continuing right and option to extend the Air Rights Infrastructure Delivery Date, as such Air Rights Infrastructure Delivery Date may be extended pursuant to the terms of this Section 5.4 so that City may complete the Air Rights Infrastructure, provided each of the following requirements is satisfied:Section (a) City must continue to diligently and continuously prosecute the construction of the Air Rights Infrastructure (subject to Excusable City Delay) after the Air Rights Infrastructure Delivery Date (as the same may have been extended by Excusable City Delay or the terms of this Section 5.45.3). (b) So long as this Agreement is in full force and effect and a BSD Default does not remain uncured, City shall assign to BSD the Air Rights Infrastructure Late Opening Charges, as liquidated damages and not as a penalty as BSD’ sole and exclusive remedy, for each day after the original Air Rights Infrastructure Delivery Date (as the same may have been extended by Excusable City Delay Period) which elapses before Substantial Completion of the Air Rights Infrastructure. City, Club and BSD agree that because of the difficulty or impossibility of determining Club’s and BSD’ damages as a result of such a delay in Substantial Completion of the Air Rights Infrastructure, the difficulties of proof of loss and the inconvenience or non- non-feasibility of BSD otherwise having a remedy for such failure to achieve Substantial Completion of the Air Rights Infrastructure by the original Substantial Completion Deadline (as the same may have been extended by any Excusable Delay Period or the terms of this Section 5.45.3), the Air Rights Late Opening Charges are a reasonable amount to be paid for such failure. Provided that the City is not the cause of such delay, the City shall not be obligated to pay Late Opening Charges to Club or BSD or to pay any other damages for delay to Club or BSD, it being agreed that the sole source for payment of Late Opening Charges shall be the Contractor pursuant to the Venue Construction Contract. Any delays associated with infrastructure needs on the Bull Street Site to support the Venue shall not be considered City delays and, for avoidance of doubt, shall not result in an obligation for the City to pay damages for delay to BSD or Club.