Common use of New Financing Clause in Contracts

New Financing. In the event that the trust or mortgage lender providing the first mortgage interim construction financing for the Building and/or the first mortgage permanent financing for the Building requires, as a condition of such financing, that modifications to this Deed of Lease be obtained, and provided that such modifications (i) are reasonable, (ii) do not adversely affect Tenant’s use of the Demised Premises as herein permitted, (iii) do not materially alter the approved Space Plan for the Demised Premises, and (iv) do not increase the rent and other sums required to be paid by Tenant hereunder, then Landlord may submit to Tenant a written amendment to this Deed of Lease incorporating such required modifications, and, in the event Tenant does not execute and return to Landlord such written amendment within seven (7) days after the same has been submitted to Tenant, then Landlord shall send Tenant a written notice that Landlord has the right to cancel this Deed of Lease if Tenant does not execute the amendment within three (3) business days. If Tenant fails to execute the amendment within such three (3) day period, then Landlord shall thereafter have the right, at its sole option, to cancel this Deed of Lease. Such option shall be exercisable by Landlord giving Tenant written notice of cancellation, immediately whereupon this Deed of Lease shall be canceled and terminated, and any money or security therefor deposited by Tenant with Landlord shall be returned to Tenant, subject to the provisions of Section 5 of this Deed of Lease, and both Landlord and Tenant shall thereupon be relieved from any and all further liability or obligation hereunder.

New Financing. In the event that the trust or mortgage lender providing the first mortgage interim construction financing for the Building and/or the first mortgage permanent financing for the Building requires, as This Agreement is contingent upon BUYER obtaining approval of a condition of such financing, that modifications to this Deed of Lease be obtained, and provided that such modifications (i) are reasonableloan, (ii“Loan Approval”) do not adversely affect Tenant’s use of the Demised Premises as herein permitted, (iii) do not materially alter the approved Space Plan for the Demised Premises, and (iv) do not increase the rent and other sums required to be paid by Tenant hereunder, then Landlord may submit to Tenant a written amendment to this Deed of Lease incorporating such required modifications, and, in the event Tenant does not execute and return to Landlord such written amendment within seven (7( ) days after the same Effective Date (“Loan Approval Date”) for (Check one only) a or an fixed; adjustable; or fixed-adjustable rate loan, in the principal amount of Dollars ($ ), at an initial interest rate not to exceed percent ( %) and for a term of ( ) years. BUYER will make application within ( ) days after the Effective Date and shall use reasonable diligence to obtain Loan Approval. For purposes of this provision, “reasonable diligence” shall include, but not necessarily be limited to, performing the following in a timely manner: Making application for the loan, paying all application fees and appraisal fees upon request, providing all requested financial information and copies of tax returns, providing verification of deposits and employment, together with copies of pay stubs if requested, and providing such other information as may be reasonably requested by the lender. XXXXX further agrees to satisfy all terms and conditions of the Loan Approval, pay all loan-related costs and fees and close on the loan. Loan Approval which requires a condition related to the sale of other property shall not be deemed Loan Approval for purposes of this subparagraph. If BUYER has been submitted to Tenantused reasonable diligence and has not obtained Loan Approval, then Landlord BUYER shall send Tenant a be refunded all Deposits, provided BUYER, by no later than the Loan Approval Date, provides written notice to SELLER that Landlord BUYER has the right not obtained Loan Approval and has elected to cancel terminate this Deed of Lease if Tenant does not execute the amendment within three (3) business daysAgreement. If Tenant fails BUYER has not terminated this Agreement by the Loan Approval Date as provided herein, BUYER will be deemed to execute the amendment within such three (3) day period, then Landlord shall thereafter have the right, at its sole option, to cancel received Loan Approval and this Deed of Lease. Such option contingency shall be exercisable by Landlord giving Tenant written notice of cancellation, immediately whereupon this Deed of Lease waived. This Agreement shall be canceled and terminated, and any money or security therefor deposited by Tenant with Landlord shall be returned to Tenant, remain subject to the provisions satisfaction, by Closing, of Section 5 those conditions of this Deed Loan Approval related to the Property, including survey and title commitment requirements. BUYER authorizes mortgage broker(s) and lender(s) to disclose to SELLER, real estate licensee(s) and closing agent(s) information regarding status of Leasethe loan application and Loan Approval. WITH REGARD TO THIS PROVISION OF THIS AGREEMENT ONLY, and both Landlord and Tenant shall thereupon be relieved from any and all further liability or obligation hereunderTIME SHALL BE OF THE ESSENCE.

New Financing. In the event that the trust or mortgage lender providing the first mortgage interim construction financing for the Building and/or the first mortgage permanent financing for the Building requires, as This Agreement is contingent upon BUYER obtaining approval of a condition of such financing, that modifications to this Deed of Lease be obtained, and provided that such modifications (i) are reasonableloan, (ii“Loan Approval”) do not adversely affect Tenant’s use of the Demised Premises as herein permitted, (iii) do not materially alter the approved Space Plan for the Demised Premises, and (iv) do not increase the rent and other sums required to be paid by Tenant hereunder, then Landlord may submit to Tenant a written amendment to this Deed of Lease incorporating such required modifications, and, in the event Tenant does not execute and return to Landlord such written amendment within seven (7( ) days after the same Effective Date (“Loan Approval Date”) for (Check one only) a or an fixed; adjustable; or fixed-adjustable rate loan, in the principal amount of Dollars ($ ), at an initial interest rate not to exceed percent ( %) and for a term of ( ) years. BUYER will make application within ( ) days after the Effective Date and shall use reasonable diligence to obtain Loan Approval. For purposes of this provision, “reasonable diligence” shall include, but not necessarily be limited to, performing the following in a timely manner: Making application for the loan, paying all application fees and appraisal fees upon request, providing all requested financial information and copies of tax returns, providing verification of deposits and employment, together with copies of pay stubs if requested, and providing such other information as may be reasonably requested by the lender. BUYER further agrees to satisfy all terms and conditions of the Loan Approval, pay all loan-related costs and fees and close on the loan. Loan Approval which requires a condition related to the sale of other property shall not be deemed Loan Approval for purposes of this subparagraph. If BUYER has been submitted to Tenantused reasonable diligence and has not obtained Loan Approval, then Landlord BUYER shall send Tenant a be refunded all Deposits, provided BUYER, by no later than the Loan Approval Date, provides written notice to SELLER that Landlord BUYER has the right not obtained Loan Approval and has elected to cancel terminate this Deed of Lease if Tenant does not execute the amendment within three (3) business daysAgreement. If Tenant fails BUYER has not terminated this Agreement by the Loan Approval Date as provided herein, BUYER will be deemed to execute the amendment within such three (3) day period, then Landlord shall thereafter have the right, at its sole option, to cancel received Loan Approval and this Deed of Lease. Such option contingency shall be exercisable by Landlord giving Tenant written notice of cancellation, immediately whereupon this Deed of Lease waived. This Agreement shall be canceled and terminated, and any money or security therefor deposited by Tenant with Landlord shall be returned to Tenant, remain subject to the provisions satisfaction, by Closing, of Section 5 those conditions of this Deed Loan Approval related to the Property, including survey and title commitment requirements. BUYER authorizes mortgage broker(s) and lender(s) to disclose to SELLER, real estate licensee(s) and closing agent(s) information regarding status of Leasethe loan application and Loan Approval. WITH REGARD TO THIS PROVISION OF THIS AGREEMENT ONLY, and both Landlord and Tenant shall thereupon be relieved from any and all further liability or obligation hereunderTIME SHALL BE OF THE ESSENCE.

New Financing. In the event that the trust or mortgage lender providing the first mortgage interim construction financing for the Building and/or the first mortgage permanent financing for the Building requires, as It shall be a condition precedent to Buyer's obligation to purchase the Property hereunder that Buyer shall have received, within the period (the COMMITMENT PERIOD") commencing on the date Buyer receives the Existing Lender Approval Notice and ending on the date which is thirty (30) days thereafter, a written commitment (the "LOAN COMMITMENT") for a loan (the "NEW LOAN") from a financial institution reasonably satisfactory to Buyer, in an amount of $17,400,000 and otherwise on terms reasonably acceptable to Buyer. Buyer shall promptly commence and diligently pursue its obtaining of the Loan Commitment, and shall keep Seller reasonably informed of Buyer's progress in connection therewith. Upon Buyer's receipt, acceptance and approval of the Loan Commitment, Buyer shall immediately notify Seller and Escrow Holder in writing (the "NEW LOAN APPROVAL NOTICE") of such financingreceipt (and shall include with such notice a copy of the Loan Commitment), that modifications whereupon the condition precedent to Buyer's obligation to purchase the Property under this Deed paragraph 4F shall be deemed satisfied. Prior to the expiration of Lease be obtainedthe Commitment Period, Buyer shall notify Seller and Escrow Holder in writing if Buyer is unable to obtain the Loan Commitment. If Buyer fails to deliver to Seller the New Loan Approval Notice prior to the expiration of the Commitment Period, this Agreement, and provided that such modifications (i) are reasonable, (ii) do not adversely affect Tenant’s use the obligations of the Demised Premises as herein permitted, (iii) do not materially alter the approved Space Plan for the Demised Premises, and (iv) do not increase the rent and other sums required to be paid by Tenant parties hereunder, then Landlord may submit to Tenant a written amendment to this Deed of Lease incorporating such required modifications, and, in shall terminate and the event Tenant does not execute and return to Landlord such written amendment within seven (7) days after the same has been submitted to Tenant, then Landlord shall send Tenant a written notice that Landlord has the right to cancel this Deed of Lease if Tenant does not execute the amendment within three (3) business days. If Tenant fails to execute the amendment within such three (3) day period, then Landlord shall thereafter have the right, at its sole option, to cancel this Deed of Lease. Such option shall be exercisable by Landlord giving Tenant written notice of cancellation, immediately whereupon this Deed of Lease shall be canceled and terminated, and any money or security therefor deposited by Tenant with Landlord Escrow Deposit shall be returned to TenantBuyer. Buyer shall pay all costs and expenses of obtaining the New Loan, subject to the provisions of Section 5 of this Deed of Leaseincluding, but not limited to, any application fees, appraisal fees, physical inspection fees or costs, and both Landlord and Tenant shall thereupon be relieved from any and all further liability title insurance premiums or obligation hereundercosts.