Rights of South Retail Owner Sample Clauses

Rights of South Retail Owner. (a) The South Retail Owner shall have the right, in its sole discretion and at its sole expense, to temporarily or permanently close or modify any access point between the third and fourth floors of the South Retail Element and any adjoining properties, including without limitation, the North Element. (b) The South Retail Owner or Office Owner shall have the right, by written notice (a “Closure Notice”) given to the North Element Owner within twelve months of a Closure Event, to require North Element Owner to permanently close all public access points on xxxx xxxxxx xxxxx (0xx xxxxx) and the skyway level (2nd floor) between the North Element and the South Retail Element, at the sole expense of North Element Owner. Following receipt of a Closure Notice, North Element Owner will commence and proceed with all commercial diligence to permanently close all such public access points, in accordance with the construction requirements and procedures of this Declaration. For purposes hereof, a “Closure Event” shall occur if at any time both of the following shall occur: (i) any portion of the skyway level of the North Element is occupied for the regular conduct of business by the North Element Owner (or any tenant of North Element Owner), and (ii) North Element Owner closes off (not including temporary closures due to construction, remodeling or casualty) skyway level access from the South Retail Element to (x) the existing skyway level connection between the North Element and the adjacent building at 000 Xxxxxxxxx Xxxxxx, or (y) any future skyway level connection -27- established between the North Element and any other property across a public right of way from the Project. Upon the occurrence of a Closure Event, and during the time period following such Closure Event that public access points remains closed in accordance with the provisions of this Section 7.2(b), North Element Owner shall no longer have any consent or approval rights with respect to the amendment, modification, supplementation or any other aspect of the Skyway Agreements.
Sample 1
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