Laserfiche WebLink
<br />termination of the Term of Lease and the sublease or sale of the Authority’s interest in <br />the Site and the Facilities; and <br /> <br /> (b) Reimburse the Authority for all capital costs and expenses in any manner <br />incurred by the Authority with respect to preparing the Site and the Facilities for sublease <br />for commercial or other lawful purposes (as used in this Ground Lease, the right to <br />sublease the Site includes the right to sell all leasehold interests in the Site); and <br /> <br /> (c) Pay the unpaid principal of and interest on the Bonds described in the <br />Lease. <br /> <br /> (4) The termination of the Term of Lease upon the occurrence of an Event of Default <br />by the City under Article X of the Lease and the receipt by the Authority of amounts from the <br />sublease or sale of the Authority’s interest in the Site and the Facilities sufficient to: <br /> <br /> (a) Reimburse the Authority for all administrative costs and expenses, <br />including reasonable attorneys’ fees, incurred by the Authority as a result of the Event of <br />Default and the termination of the Lease and the sublease or sale of the Authority’s <br />interest in the Site and the Facilities; and <br /> <br /> (b) Reimburse the Authority for all capital costs and expenses in any manner <br />incurred by the Authority with respect to preparing the Site and the Facilities for sublease <br />for commercial or other lawful purposes; and <br /> <br /> (c) Pay the unpaid principal of and interest on the Bonds described in the <br />Lease. <br /> <br /> The amounts referred to in paragraphs (a), (b) and (c) of Section 3.01(3) or 3.01(4), as applicable, <br />are hereinafter referred to as the “Reimbursement Amount.” <br /> <br /> Section 3.02. Use of Revenues. After termination of the Term of Lease by the City because of <br />non-appropriation pursuant to Section 5.6 of the Lease or termination of the Term of Lease upon the <br />occurrence of an Event of Default under Article X of the Lease, revenues received by the Authority from <br />the Site and the Facilities as contemplated in Section 3.01(3) or 3.01(4) hereof shall be applied as follows: <br /> <br /> FIRST -- An amount thereof equal to ongoing administrative costs and costs of <br />operation of the Site and the Facilities may be retained by the Authority; <br /> <br /> SECOND -- An amount thereof equal to interest on the outstanding Reimbursement <br />Amount at the rates per annum specified in Exhibit B to the Lease may <br />be retained by the Authority; and <br /> <br /> THIRD -- Any remaining amount thereof shall be retained by the Authority and <br />credited to the payment of the Reimbursement Amount. <br /> <br /> Use of the Site and the Facilities by the Authority or any affiliate of the Authority, other than for <br />the purpose of assuming control, making any necessary changes in the Site or the Facilities, and the initial <br />subleasing thereof, shall be treated as the sublease thereof on a monthly basis at the then current monthly <br />value. <br /> <br />460514v1 JAE LN140-112 4