Woodfield Commons Sample Clauses

Woodfield Commons. (i) Inland has provided to NYSTRS information regarding façade upgrades which have been determined by Inland to be necessary with respect to the Woodfield Commons Property. The parties have agreed that the façade upgrades shall not be considered a Property MAC for purpose of the contribution of Woodfield Commons to the Company. The parties agree that all costs and expenses associated with the façade repair shall be borne by the Company, subject to the inclusion of the costs of such upgrades in the Initial Annual Plan for Woodfield Commons and approval of such plan by NYSTRS in accordance with Section 6(a)(iii) hereof. (ii) Inland agrees that prior to the contribution of the Woodfield Commons Property to the Company, Inland shall cause the previously disclosed mold in the sprinkler riser room and in the space occupied by Enterprise Car Rental (“Enterprise”), which are both in the Woodfield Common East location, to be remediated in accordance with current industry standards. Such remediation shall be completed at Inland’s cost and expense, provided, however, that Enterprise is obligated pursuant to its lease for the cost of such remediation, and Inland shall be entitled to be reimbursed for its cost and expense to the extent thereafter paid by Enterprise. Inland will provide NYSTRS with a copy of the close-out report obtained from the contractor who performs the remediation prior to contribution of the Woodfield Commons Property.