Common use of Project Contingency Clause in Contracts

Project Contingency. Lessor agrees that the validity of and performance under this Lease is contingent upon Mazda Toyota Manufacturing USA (“MTMUS”) in the Huntsville region, awarding that certain MRO Services Contract to Lessee or its affiliated entities (hereinafter, the “Contingency”). If Lessee is not awarded such contract and no written commitment to the Lessee for the MRO project is received on or before February 15, 2020, the Lease and all its commitments will become null and void to both parties. However, if the contract is awarded to Lessee or its affiliated entities or anyone else, Lessee shall is required to provide written notice thereof to Lessor to remove the Contingency, and thereafter the Lease shall be binding on all parties or to notify the Lessor that the contract was awarded to another unrelated entity and this Lease is therefore null and void. Additionally, on or before February 15, 2020, if a Letter of Intent is received by Lessor from a third-party with a firm commitment to lease the Premises, Lessee will have the first right of refusal to remove this Contingency or allow the Lessor to proceed with the Letter of Intent with the other parties. Lessee must respond within three (3) business days (the “Response Time”) if they choose to remove this Contingency using the form attached hereto as Exhibit A. If Lessee does not timely deliver to Lessor the Removal of Contingency Certificate, this Lease will become null and void upon expiration of the Response Time with no further obligations to perform by Lessor or Lessee. Lessor and Lessee may mutually agree in writing to extend the Contingency for up to an additional fifteen (15) days.

Project Contingency. Lessor agrees that the validity of and performance under this Lease is contingent upon Mazda Toyota Manufacturing USA (“MTMUS”) in the Huntsville region, awarding that certain MRO Services Contract to Lessee or its affiliated entities (hereinafter, the “Contingency”). If Lessee is not awarded such contract and no written commitment to the Lessee for the MRO project is received on or before February 15, 2020, the Lease and all its commitments will become null and void to both parties. However, if the contract is awarded to Lessee or its affiliated entities or anyone else, Lessee shall is required to provide written notice thereof to Lessor to remove the Contingency, and thereafter the Lease shall be binding on all parties or to notify the Lessor that the contract was awarded to another unrelated entity and this Lease is therefore null and void. Additionally, on or before February 15, 2020, if a Letter of Intent is received by Lessor from a third-party with a firm commitment to lease the Premises, Lessee will have the first right of refusal to remove this Contingency or allow the Lessor to proceed with the Letter of Intent with the other parties. Lessee must respond within three (3) business days (the “Response Time”) if they choose to remove this Contingency using the form attached hereto as Exhibit A. If Lessee does not timely deliver to Lessor the Removal of Contingency Certificate, this Lease will become null and void upon expiration of the Response Time with no further obligations to perform by Lessor or Lessee. Lessor and Lessee may mutually agree in writing to extend the Contingency for up to an additional fifteen (15) days.