Common use of Lease Term Adjustment Clause in Contracts

Lease Term Adjustment. Notwithstanding anything in this Lease to the contrary, in the event Landlord receives an appraisal of the Building totaling less than $31,000,000.00, exclusive of the value of Tenant Improvements (as defined in the Workletter), at the time Landlord obtains permanent financing for the Building, the Term of this Lease shall be the lesser of (i) fifteen (15) years and (ii) the greater of (A) the maximum term that will allow Tenant to account for the Lease as an operating lease under Generally Accepted Accounting Principles and (B) twelve (12) years.

Lease Term Adjustment. Notwithstanding anything in this Lease to the contrary, in the event Landlord receives a commitment to provide permanent financing at a rate less than ten and a half percent (10.5%) or an appraisal of the Building totaling less than $31,000,000.00, exclusive of the value of Tenant Improvements (as defined in the Workletter), 36,000,000.00 at the time Landlord obtains permanent financing for the Building, the Term of this Lease shall be the lesser of (i) fifteen (15) years and (ii) the greater of (A) the maximum term that will allow Tenant to account for the Lease as an operating lease under Generally Accepted Accounting Principles and (B) twelve (12) years.