Governmental Incentives. During the Investigation Period, Purchaser will apply for, attempt to obtain or seek new or existing governmental incentives, tax abatements, benefits, entitlements, approvals or permits related to Purchaser’s intended use of the Property, or which Purchaser otherwise deems necessary or desirable, in Purchaser’s sole discretion, in order to utilize the Property for Purchaser’s intended use (collectively, “Governmental Incentives”). Purchaser’s obligations under this Agreement to close on the purchase of the Property shall be expressly contingent on Purchaser’s receipt of all such Governmental Incentives, including, but not limited to, property tax abatements on the Property and personal property additions to the Property and other incentives from the city of Chattanooga and Hxxxxxxx County, and grants, credits, and other incentives from the state of Tennessee and its Department of Economic and Community Development (“TN ECD”), and the Tennessee Valley Authority (“TVA”), all on terms satisfactory to Purchaser in its sole discretion. Seller agrees that, during the term of this Agreement, Seller will reasonably cooperate with (and will not oppose), any applications that Purchaser, at its sole expense, desires to submit to any governmental authorities in connection with obtaining any such Governmental Incentives or information in furtherance of Purchaser’s intended use of the Property. If, at any time during the Investigation Period, Purchaser determines that it cannot obtain the Governmental Incentives on terms and conditions acceptable to Purchaser, in Purchaser’s sole discretion, then Purchaser shall have the right to (i) terminate this Agreement in accordance with Section 5 below, or (ii) in addition to Purchaser’s extension rights under Section 4(a), unilaterally extend the Investigation Period until 11:59 p.m. on June 10, 2021 (“Investigation Period Extension”) upon notice to Seller (“Investigation Period Extension Notice”), said Investigation Period Extension Notice to be given to Seller prior to the expiration of the Investigation Period and to specify which of the Governmental Incentives have not been obtained.
Governmental Incentives. Landlord shall, at no cost to Landlord, reasonably cooperate with Tenant in Tenant's efforts to negotiate, implement and receive the benefits of an incentive package, or other grants or designations, with various governmental authorities, provided that such cooperation shall not include any modification to this Lease. Any and all fees, costs and expenses imposed by any applicable governmental authority shall be borne solely by Tenant, and Tenant shall reimburse Landlord within thirty (30) days following Landlord's demand therefor, for any and all out-of-pocket fees, costs and expenses actually incurred by Landlord in connection with Tenant's requests and Landlord's cooperation pursuant to this Paragraph 50, including, without limitation, reasonable attorney, consultant and professional fees. Notwithstanding anything to the contrary set forth in this Lease, any benefits obtained by Tenant (or on behalf of Tenant) at Tenant's sole expense from any governmental authority pursuant to this Paragraph 50 that relate solely to the Premises shall be solely for the benefit of Tenant, and to the extent that any such benefits are granted to Landlord and relate solely to the Premises, Landlord shall promptly assign (or pay) the same to Tenant.
Governmental Incentives. W-P shall use its best efforts to provide W-N with assistance in obtaining favorable treatment from federal, state or local agencies including, without limitation, favorable tax treatment and training grants.
Governmental Incentives. Landlord shall cooperate in all reasonable respects with Tenant’s efforts to obtain any available governmental and quasi-governmental benefits, incentives or entitlements; provided, that (i) such efforts shall not adversely affect the ability or eligibility of Landlord or other tenants or occupants of the Building and (ii) Tenant shall, within 30 days after receipt of each of Landlord’s invoices therefor, reimburse Landlord for the actual out-of-pocket costs incurred by Landlord in connection with such cooperation. In no event shall Landlord have any liability, nor shall Tenant’s obligations under this Lease be affected, in the event that Tenant shall not obtain any particular governmental or quasi-governmental benefits, incentives or entitlements.
Governmental Incentives. Landlord shall cooperate with Tenant in Tenant's efforts to negotiate, implement and receive the benefits of an incentive package with various Governmental Authorities, and to execute and deliver any supplements or modifications to this Lease that are reasonably required in connection therewith, provided that no such Lease modification or supplement shall (a) increase any obligation of Landlord under this Lease, (b) adversely affect any right of or benefit to Landlord under this Lease (except to a de minimis extent), (c) relieve Tenant of or reduce any of its obligations under this Lease, or (d) interfere in any material respect with Landlord's ability to arrange financing for Landlord's interest in the Premises or to consummate the Lease Conversion. Any and all fees, costs and expenses imposed by the applicable Governmental Authority shall be borne solely by Tenant, and Tenant shall reimburse Landlord within thirty (30) days of Landlord's demand therefor, for any and all reasonable out-of-pocket fees, costs and expenses actually incurred by Landlord in connection with Tenant's requests and in cooperating with Tenant as provided in this Article 41, including, without limitation, the reasonable costs and expenses of Landlord's counsel, consultants and professionals. Notwithstanding anything herein contained to the contrary, any benefits obtained by Tenant (or on behalf of Tenant) at Tenant's sole expense from any Governmental Authority shall be solely for the benefit of Tenant and to the extent that any of the same are granted to Landlord, Landlord shall assign (or pay) the same promptly to Tenant. Nothing contained in this Article 41 limits or expands Tenant's rights to use Section 421-a Benefits under Section 26.2(G) hereof. 253 258 ARTICLE 42 ROOF RIGHTS
Governmental Incentives. Suggest removing this schedule
Governmental Incentives. 15 SECTION 6.07
Governmental Incentives. The Parents shall have joint responsibility for seeking the local Manassas, Virginia and Commonwealth of Virginia approvals of any governmental benefits in connection with the manufacturing of the Products at the DSC facility.
Governmental Incentives. 34.1 It is mutually acknowledged that Tenant may negotiate with Xxxxxxxxxx County and/or the State of Maryland for certain tax reductions (the “Tax Reductions”) by application of the provisions of Sections 52-69 through 52-79 of the Xxxxxxxxxx County Code (1998 L.M.C., ch. 9, Section 1) and Section 9-230 of the State of Maryland Tax-property Article which are intended to benefit office tenants in the State of Maryland and Xxxxxxxxxx County. Landlord and Tenant mutually agree that the economic benefit of any such Tax Reductions related to Tenant’s occupancy of the Premises shall accrue solely to Tenant. Landlord agrees that on the date that Landlord actually obtains the benefit of any such Tax Reductions resulting directly from the application of the laws described herein to Tenant’s business operations in the Building, Landlord, at Landlord’s election, either shall pay Tenant the amount of the Tax Reductions or shall direct Tenant to deduct the amount of the Tax Reductions from its next estimated payment or payments of Base Rent and Additional Rent due under this Lease. In the event Landlord fails to timely notify Tenant of Landlord’s election as described in the preceding sentence, Tenant may deduct the amount of such Tax Reductions from its next payments or estimated payments of Base Rent and Additional Rent due under this Lease. It is expressly agreed that in order to avoid duplication of the benefit to Tenant resulting from the Tax Reductions, the computation of Real Estate Taxes set forth in Article IV, shall be made without regard to the Tax Reductions (i.e. Tenant’s obligation under Article IV shall be computed using the gross amount of Real Estate Taxes before the Tax Reductions). Tenant shall only be entitled to the Tax Reductions arising directly, from Tenant’s business operations in the Building and shall not be entitled to any similar Tax Reductions arising from or attributable to any other tenant’s or occupant’s conduct of business in the Building or otherwise. Landlord shall cooperate with Tenant at Tenant’s sole cost and expense in obtaining the Tax Reductions.
Governmental Incentives. Paragraph 8 of the First Amendment is hereby deleted in its entirety. From and after the Effective Date, Paragraph 8 of the First Amendment will no longer have any force or effect. Landlord and Tenant acknowledge that Tenant has applied for various approvals and incentives in connection with Tenant’s use and occupancy of the Premises (collectively, the “Approvals”), including, various governmental and quasi-governmental incentives proposed to be received by Tenant directly or indirectly from federal, state or local units of government. It is the intent of Landlord and Tenant that 100% of the benefit of any such Approvals inure to the benefit of Tenant; provided, however, that notwithstanding the foregoing, Landlord will have the full benefit of any Tax Abatements to the extent provided in subparagraphs 2(b) and 7(c) of the Lease as amended hereby.
