Common use of Extension of Times of Performance Clause in Contracts

Extension of Times of Performance. Times of performance under this Lease may also be extended in writing by the mutual agreement of the Tenant and the City (acting in the discretion of its Executive Director unless he or she determines in his or her discretion to refer such matter to the governing board of the City). Each Party expressly assumes the risk of such adverse economic or market changes and/or financial inability, whether or not foreseeable as of the Effective Date.