201301155 - Laserfiche WebLink

Browse

20/301155 5. Exclusive Rights. During the entire term of the Lease, and as a material inducement to Tenant to enter into the Lease, so long as Tenant is open and operating (excluding temporary closures due to casualty, condemnation, repairs or remodeling (such remodeling not to exceed sixty (60) days) or nationally recognized holidays) primarily for the sale of footwear, and except as otherwise herein provided, Tenant shall have the exclusive right within the Shopping Center to sell footwear (herein, the "Exclusive Use "). Notwithstanding the foregoing, the Exclusive Use shall not apply to (a) existing tenants with leases dated prior to June 12, 2012, which are either expressly permitted to sell footwear per the terms of their existing leases or which have the right to operate for any lawful use (all of which and their respective use provisions are identified in Exhibit F attached to the Lease); (b) incidental sales of footwear by (i) tenants occupying at least 25,000 square feet and (ii) the tenant operating under the trade name Bed, Bath & Beyond; (c) incidental sales of footwear by tenants whose primary business is the retail sale of fashion and apparel merchandise; (d) stand -alone out parcel tenants, provided such tenants do not operate primarily for the sale of footwear; and (e) de minimis sales of footwear by occupants whose primary use is the sale of soft goods or general retail merchandise or a drug store use. The phrase "incidental sales" shall mean the lesser of ten percent (10 %) of such tenant's sales floor area or 3,000 square feet is used for the sale and/or display of footwear. The phrase "de minimis" shall mean the lesser five percent (5 %) of such tenant's sales floor area or 250 square feet is used for the sale and/or display of footwear. Landlord shall include the Exclusive Use in each and every occupancy agreement entered into by Landlord after June 12, 2012. Notwithstanding the foregoing, or anything in this Lease to the contrary, in the event Tenant shall cease to operate primarily for the sale of footwear in the Premises for a period of one hundred twenty (120) days, for reasons other than force majeure, casualty, condemnation or remodeling, Landlord may terminate the Exclusive Use by notifying Tenant thereof in writing, which such notice and termination shall be effective thirty (30) days after Tenant shall receive same, unless Tenant shall reopen for business and resume operations in the Premises primarily for the sale of footwear. 6. Interpretation. In the event of any discrepancy between the description of the Shopping Center attached hereto and the description set forth in the Lease, the parties acknowledge and agree to use the broadest interpretation of the combined descriptions to ensure the maximum protection of any restrictions, covenants or other agreements set forth in the Lease. 7. Cancellation of Memorandum of Lease. Upon the request of Landlord following the expiration or termination of the Lease, Tenant shall promptly execute and deliver to Landlord an appropriate release and /or cancellation instrument acknowledging the expiration or termination of the Lease and releasing any and all right, title and interest of Tenant in and to the Premises under the Lease. [Signatures on following page]