Marina Reconfiguration Sample Clauses

Marina Reconfiguration. In addition to the Initial Rehabilitation Projects and dredging work described in this Article 11, Tenant, on or before the end of Lease Year 7, shall analyze the potential reconfiguration of the floating docks and slips to determine the best way to maximize Gross Boat Slip Receipts for the mutual benefit of Landlord and Tenant, taking into account the required costs of, and return on investment anticipated to result from, such reconfiguration, and submit a proposed reconfiguration plan to Landlord for review and approval not to be unreasonably withheld. The reconfiguration plan may propose leaving some of the floating docks and slips in their current configuration, if and to the extent commercially reasonable and consistent with best practices followed by other efficient and attractive marinas in the Oakland/Alameda harbor market area. Tenant shall not be required to wait until preparation and approval of the reconfiguration plan before taking steps to undertake minor reconfigurations of the marina. Tenant shall take steps to accomplish the work outlined in the Landlord approved reconfiguration plan within a commercially reasonable time period, taking into account Tenant’s other maintenance, repair, rehabilitation and replacement obligations under Article 10 and this Article 4, the existence of any Pre-Existing Conditions and/or Third Party Releases impacting the reconfiguration plan and Tenant’s ability to obtain a positive (industry standard) return on investment.
Sample 1
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