MUNICIPAL INCENTIVES. Landlord shall reasonably cooperate with Tenant in connection with any renegotiation or transfer of any tax or other forms of concessions which have been granted to Tenant by the City of Irving, Texas. Tenant shall reimburse Landlord for any out-of-pocket costs and expenses incurred by Landlord in connection therewith, including Landlord’s reasonable attorney’s fees.
MUNICIPAL INCENTIVES. (a) The parties hereto acknowledge that Subtenant is negotiating with the Economic Development Corporation of the City of New York (the "City") for incentives in connection with the retention of all or a portion of MetLife's New York City operations at various locations within the City (the "MetLife Locations"), including without limitation the space covered by this Sublease (the "Premises"). The incentives that Subtenant may obtain from the City may be realized through various tax exemptions and tax abatements at the MetLife Locations, including without limitation the Premises. Sublandlord hereby agrees to cooperate with Subtenant, at Subtenant's expense and to the extent Subtenant reasonably requests such cooperation in connection with Subtenant's applications for such incentives, provided that same will not adversely affect any such incentives to which Sublandlord is entitled. Sublandlord's cooperation will include, but not be limited to, supplying any necessary information that Subtenant reasonably requests, executing required forms that Subtenant reasonably requests, and other similar actions. In addition. Sublandlord hereby agrees that if Subtenant is successful in obtaining such incentives and if any' portion of the incentives may be derived from the Premises demised hereunder, then Sublandlord agrees to cooperate, at Subtenant's expense, in re-structuring this Sublease so as to allow Subtenant to realize the benefits to the fullest extent possible from the Premises demised hereunder, including without limitation (i) cooperation in the creation of a condominium (or synthetic condominium structure) to permit the Premises to be exempt from real estate taxes, (ii) structuring the rents and additional rents under the Xxxxxxxxx and this Sublease to accomplish the pass-through of benefits to Subtenant which arise from tax exemptions (whether of sales taxes, mortgage recording taxes, real estate taxes or other taxes) or reduced expenses for utilities, which are intended for Subtenant's benefit or (iii) such other actions as may be reasonably required to permit the full realization of the incentives granted to Subtenant by the City to the extent such incentives can be realized from the Premises.
MUNICIPAL INCENTIVES. Notwithstanding anything in this Lease to the contrary, as a material inducement for Tenant to enter into and perform its obligations under this Lease, Tenant’s obligations hereunder are contingent upon receipt by Tenant in the form of cash of a minimum of $400,000 in economic development funds (herein the “Incentive Funds”) from the City of St. Xxxx as an incentive for Tenant to locate to the St. Xxxx Central Business District. In the event Tenant has not received approval for the Incentive Funds on or before May 15, 2009, Tenant may terminate this Lease by notice to Landlord without liability or further obligation hereunder. Dated as of the date first above written. LANDLORD: NEA GALTIER, LLC a Delaware limited liability company By: /s/ Xxxxxx X. Xxxxxxx Name: Xxxxxx X. Xxxxxxx Title: Managing Member By: /s/ Xxxx Xxxxx Name: Xxxx Xxxxx Title: Managing Member TENANT: CRAY INC., a Washington corporation By: /s/ Xxxxx X. Xxxxx Name: Xxxxx X. Xxxxx Title: Executive Vice President and Chief Financial Officer EXHIBIT A OUTLINE OF PREMISES (Pages A1 – A4 are not attached) EXHIBIT B LEGAL DESCRIPTION OF COMPLEX Tracts A, C and D, Registered Land Survey No. 417, files of Registrar of Titles, County of Xxxxxx. Tracts B, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T and U which lie below elevation 15.00 feet, Registered Land Survey No. 417, files of Registrar of Titles, County of Xxxxxx. Tracts B, C, D, E and F, Registered Land Survey No. 419, files of Registrar of Titles, County of Xxxxxx. Tracts C, D, E and F, Registered Land Survey No. 420, files of Registrar of Titles, County of Xxxxxx. Tracts A, H, I, J, K, N, O and P, Registered Land Survey No. 421, files of Registrar of Titles, County of Xxxxxx. Tracts A, C, E, G, H, I, J, K, L, M and N, Registered Land Survey No. 422, files of Registrar of Titles, County of Xxxxxx. Tracts E, H and J, Registered Land Survey No. 423, files of Registrar of Titles, County of Xxxxxx. That part of Tract F which lies below elevation 105.00 feet, Registered Land Survey No. 423, files of Registrar of Titles, County of Xxxxxx. That part of the Northwesterly 71.51 feet of Tract G, which lies below elevation 105.00 feet, Registered Land survey No. 423, files of the Registrar of Titles, County of Xxxxxx. That part of Tract G, lying Southeasterly of the Northwesterly 71.51 feet thereof, Registered Land Survey No. 423, files of the Registrar of Titles, County of Xxxxxx. Xxxxxx X, X, X, X, X and L, Registered Land Survey No. 424, files of...
MUNICIPAL INCENTIVES. (a) The Members acknowledge that Legacy Tenant has entered into the IXX Documents, and that the Building is intended to be designed and constructed in accordance with the terms thereof in order for Legacy Tenant to receive benefits under UTEP. The Members further acknowledge and agree that Legacy Tenant is required to pay PILOT to the IXX or the HYIC pursuant the Agency Lease Agreement and during any period in which the Agency Lease Agreement is not in effect, to the MTA pursuant to Section 4.11 of the Building C Lease, and that all such PILOT payments shall be a Project Cost and allocated to the Members in accordance with the terms of the Cost Allocation Methodology. The Members further acknowledge and agree that, during the term of the Construction Loan, PILOT payments will be funded to a reserve held by the Mortgage Loan Agent or Mezzanine Loan Agent for payment of PILOT to the IXX or HYIC, or to the MTA, as applicable, in accordance with the terms of the IXX Documents, pursuant to the terms of the Loan Documents.
MUNICIPAL INCENTIVES. Landlord and Tenant have entered into a Tax Abatement Agreement with the City of Xxxxxxxxxx and agree to diligently pursue a similar tax abatement agreement with the County of Dallas and the Dallas County Hospital District (the "TAX ABATEMENT AGREEMENT", whether one or more) pursuant to which such taxing authorities have agreed, or may agree, in connection with or as a result of the lease of the Premises to Tenant, to provide certain tax abatements to Tenant with respect to the Taxable Value of the Tenant's Tangible Personal Property and to Landlord with respect to the Taxable Value of the Land and the Building (all as described and defined therein). Pursuant to the Tax Abatement Agreement, any and all such tax abatements now or hereafter received by Landlord under the Tax Abatement Agreement are to inure to Tenant's benefit during the Term of this Lease. Accordingly, for so long as such tax abatement remains in effect (1) the portion of the taxes on the Building and the Land which are abated under the Tax Abatement Agreement and which would otherwise be included in Basic Cost shall for purposes of this Lease be assumed to be included in the Expense Stop and in Basic Cost, and (2) Tenant shall receive a dollar-for-dollar reduction in Rent annually in an amount equal to the abated taxes on the Building and the Land under the Tax Abatement Agreement. Landlord and Xxxxxx shall perform their respective obligations under the Tax Abatement Agreement and otherwise cooperate with one another to ensure that each party completes all requirements to obtain and maintain such tax abatements including, without limitation, making such periodic fillings or reports to such municipalities or political subdivisions as necessary to maintain such tax abatements.
MUNICIPAL INCENTIVES. Landlord has made application for tax and/or other abatements and/or incentives for the Project with the city of North Richland Hills, and Landlord shall diligently pursue such application until such time as the city of North Richland Hills approves or disapproves such application or Landlord determines, in the exercise of its reasonable business judgement, that it is not prudent to do so. Any and all incentives, abatements, and benefits received prior to and/or following the Commencement Date and applicable to the Term shall be included in the determination of Project Expenses so that the Project Expenses are effectively reduced by the amount of the savings achieved thereby. Landlord makes no (and hereby disclaims any) representation, warranty, covenant, assurance or other statement with respect to whether any such incentives shall be obtained, and Tenant acknowledges that it is not relying on any such representation, warranty, covenant, assurance or other statement by or on behalf of Landlord. The failure of Landlord to obtain any tax and/or other abatements and/or incentives for the Project shall have no affect on the obligations of Tenant hereunder.
MUNICIPAL INCENTIVES. Landlord agrees to cooperate with Tenant -------------------- (but the same shall not require the expenditure of more than nominal amounts of money by Landlord) in Tenant's efforts to obtain all tax and other incentives available from any and all city, county, state, school or other applicable municipalities or jurisdictions in connection with Tenant's business conducted from the Demised Premises. All such incentives and benefits received by Tenant shall inure to the benefit of Tenant.
MUNICIPAL INCENTIVES. Landlord shall reasonably cooperate with Tenant (i) in connection with any renegotiation or transfer of any tax or other forms of concessions which have been granted to Tenant by the City of Irving, Texas, and (ii) in further discussions with the City of Irving, Texas to install traffic signs at the intersection of Royal Lane and Connection Drive, and the pedestrian cross-walk at Connection Drive. Tenant shall reimburse Landlord for any out-of-pocket costs and expenses incurred by Landlord in connection therewith, including Landlord’s reasonable attorney’s fees.
