Mercantile Lease. Prior to the Due Diligence Period Expiration Date, Seller and Buyer shall negotiate in good faith and agree upon the text of a lease to be entered into by Mercantile Safe-Deposit and Trust Company, as Tenant, with MBCR (the “Mercantile Lease”) that shall be substantially in accordance with the terms set forth in the term sheet attached hereto as Exhibit “J”, and, on or prior to the Due Diligence Period Expiration Date, Seller shall cause Mercantile-Safe Deposit and Trust Company and MBCR to execute and deliver to Buyer the Mercantile Lease, which shall be effective as of the consummation of the Closing.
Mercantile Lease. Reference is hereby made to (i) that certain Lease Agreement dated May 25, 1989 by and between Xxxxxx X. Xxxxxxx & Associates (“Xxxxxxx”) and Mercantile Properties, Inc. (“Mercantile”), as amended by that certain Lease Amendment No. 1, dated April 23, 1990 by and between Xxxxxxx and Mercantile (collectively, the “Mercantile Lease”) and (ii) that certain Short Form Lease dated May 25, 1989 by and between Xxxxxxx and Mercantile (the “Mercantile Short Form Lease”). Seller covenants to use reasonable efforts to procure that certain Lease Amendment No. 2 (which amends the Mercantile Lease) and that certain First Amendment to Short Form Lease Agreement (which amends the Mercantile Short Form Lease), both of which are attached hereto in Schedule 7.6.1 (collectively, the “Mercantile Lease Amendments”). In no event shall Purchaser be entitled to terminate this Agreement on the basis of Seller’s failure to receive, on or prior to Closing, either or both of the Mercantile Lease Amendments. In the event Seller fails to obtain, as of the Closing, either or both of the Mercantile Lease Amendments, then, at Closing, Seller shall execute and deliver to the Title Company that certain Affidavit Regarding Mercantile Lease attached hereto in Schedule 7.6.1.
