Landlord Approval of Financing of Construction Work. Prior to Commencement of Construction (or commencement of a Restoration that is subject to Section 8.05(a)), Tenant will provide Landlord with a detailed financing plan for the Construction Work to be completed and any and all other costs and expenses which may be necessary to achieve Final Completion (the “Financing Plan”). The Financing Plan will be subject to the prior written approval of Landlord (including, without limitation, Tenant’s proposed Mortgagee and any member or investor of Tenant providing equity funding as part of Tenant’s Financing Plan), which approval will not be unreasonably withheld, conditioned or delayed so long as the Financing Plan is consistent with the Construction Work set forth in the Plans and Specifications (or Restoration Plans and Specifications, if applicable) approved by Landlord in accordance with the terms of this Lease. To the extent that Tenant determines that any modifications to the Financing Plan for the Project are necessary after such Financing Plan has been approved by Landlord, Tenant will make such modifications to such Financing Plan and submit the revised Financing Plan to Landlord for informational purposes, provided however, that if Section 11.04 allows for Landlord’s right to approve changes to the Plans and Specifications as provided herein, prior to commencement of Construction, Landlord will also have the right to approve modifications to the Financing Plan under this Section 11.15. Landlord will review and approve the Financing Plan in writing, or disapprove such Financing Plan, provided Landlord sends with any notice of disapproval sufficient details and explanation for the reason of such disapproval and any requested changes to the modifications of such Financing Plan necessary to obtain Landlord’s approval, within ten Business Days after receipt of the proposed Financing Plan. If Landlord fails to notify Tenant in writing of either its approval or disapproval of the proposed modifications to such Financing Plan within ten Business Days after its receipt of the same from Tenant, then such proposed modifications to such Financing Plan will be deemed approved by Landlord. As used in the preceding two sentences, “Financing Plan,” means the initial Financing Plan or any modifications of the Financing Plan which require Landlord’s approval or submission for informational purposes hereunder.
