Common use of Major Appropriation Clause in Contracts

Major Appropriation. If at any time during the Term a substantial portion of the Premises or the Improvements is Appropriated, and either (i) there are fewer than five (5) years remaining in the Term of this Lease, or (ii) then-existing laws would not permit the repair, replacement, reconstruction and/or restoration of the Premises and Improvements to substantially the same condition and use as at the time immediately preceding the Appropriation, or otherwise to a condition that would permit an economically feasible Luxury Hotel to be operated on the Premises consistent with the requirements of this Lease (a “Major Appropriation”), then Lessee shall have the right to terminate this Lease, but only in strict accordance with the requirements and procedures set forth in Section 17.7. In the event Lessee exercises such right to terminate, then this Lease shall terminate and Lessee shall vacate and surrender the Premises to Lessor in the manner required by Section 17.7. The effective date of any such termination shall be the earlier of the date that the Appropriating authority obtains title to the Appropriated portion of the Premises or Improvements or the date that the Appropriating authority takes possession of the Appropriated portion of the Premises or Improvements. In the event this Lease is terminated by Lessee pursuant to this Section 17.4(b), any Award shall be divided between Lessor and Lessee in the manner provided in Section 17.5(a) below.

Major Appropriation. If Lessee shall have the right to terminate this Lease, in accordance with the procedures set forth in Section 17.7, if at any time during the Term a substantial portion of the Premises or the Improvements is Appropriated, and either (i) there are EXHIBIT 10.27 fewer than five three (53) years remaining in the maximum permitted Term of this Lease (that is, after giving effect to all possible extensions and renewals of this Lease, whether or not exercised), or (ii) then-existing laws would not permit the repair, replacement, reconstruction and/or restoration of the Premises and Improvements to substantially the same condition and use as at the time immediately preceding the Appropriation, or otherwise to a condition that would permit produce an economically feasible Luxury Hotel to be operated on project of substantially the Premises same use, consistent with the requirements of this Lease (a “Major Appropriation”), then Lessee shall have the right to terminate this Lease, but only in strict accordance with the requirements and procedures set forth in Section 17.7. In the event Lessee exercises such its right to terminate, then this Lease shall terminate and Lessee shall vacate and surrender the Premises to Lessor in the manner required by Section 17.717.7 below. The effective date of any such termination shall be the earlier of the date that the Appropriating authority obtains title to the Appropriated portion of the Premises or Improvements or the date that the Appropriating authority takes possession of the Appropriated portion of the Premises or Improvements. In the event this Lease is terminated by Lessee pursuant to this Section 17.4(b), any Award shall be divided between Lessor and Lessee in the manner provided in Section 17.5(a) below.

Major Appropriation. If Lessee shall have the right to terminate this Lease, in accordance with the procedures set forth in Section 17.7, if at any time during the Term a substantial portion of the Premises or the Improvements is Appropriated, and either (i) there are EXHIBIT 10.27 *CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. fewer than five three (53) years remaining in the maximum permitted Term of this Lease (that is, after giving effect to all possible extensions and renewals of this Lease, whether or not exercised), or (ii) then-existing laws would not permit the repair, replacement, reconstruction and/or restoration of the Premises and Improvements to substantially the same condition and use as at the time immediately preceding the Appropriation, or otherwise to a condition that would permit produce an economically feasible Luxury Hotel to be operated on project of substantially the Premises same use, consistent with the requirements of this Lease (a “Major Appropriation”), then Lessee shall have the right to terminate this Lease, but only in strict accordance with the requirements and procedures set forth in Section 17.7. In the event Lessee exercises such its right to terminate, then this Lease shall terminate and Lessee shall vacate and surrender the Premises to Lessor in the manner required by Section 17.717.7 below. The effective date of any such termination shall be the earlier of the date that the Appropriating authority obtains title to the Appropriated portion of the Premises or Improvements or the date that the Appropriating authority takes possession of the Appropriated portion of the Premises or Improvements. In the event this Lease is terminated by Lessee pursuant to this Section 17.4(b), any Award shall be divided between Lessor and Lessee in the manner provided in Section 17.5(a) below.