Common use of Disapproval by NYSTRS; Resubmission of Evaluation Materials Clause in Contracts

Disapproval by NYSTRS; Resubmission of Evaluation Materials. In the event that NYSTRS advises the Manager in writing that it disapproves of the acquisition of the Additional Property, or if NYSTRS fails to give its preliminary approval or disapproval within the Preliminary Member Approval Period, unless extended by mutual written agreement of the Members, the Additional Property shall be deemed rejected by NYSTRS, the Company shall not acquire the Additional Property, and thereafter, Inland or any affiliate or subsidiary thereof shall be free to acquire the Additional Property materially in accordance with the terms and conditions set forth in the Evaluation Materials. In the event that any of the terms of the transaction set forth in the Evaluation Materials shall be materially revised or amended after the rejection by NYSTRS, the Manager shall submit the revised or amended Evaluation Materials to NYSTRS and Inland, in which event the Preliminary Member Approval Period shall be reinstated and the procedures for notice of approval or rejection described herein shall once again be complied with by the parties.

Disapproval by NYSTRS; Resubmission of Evaluation Materials. In the event that NYSTRS advises the Manager in writing that it disapproves of the acquisition of the Additional Property, or if NYSTRS fails to give its preliminary approval or disapproval within the Preliminary Member Approval Period, unless extended by mutual written agreement of the Members, the Additional Property shall be deemed rejected by NYSTRS, the Company shall not acquire the Additional Property, and thereafter, Inland or any affiliate or subsidiary thereof shall be free to acquire the Additional Property materially in accordance with the terms and conditions set forth in the Evaluation Materials. In the event that any of the terms of the transaction set forth in the Evaluation Materials shall be materially revised or amended after the rejection by NYSTRS, the Manager shall submit the revised or amended Evaluation Materials to NYSTRS and Inland, in which event the Preliminary Member Approval Period shall be reinstated and the procedures for notice of approval or rejection described herein shall once again be complied with by the parties.