-7--7-
Construction of such improvements shall commence
as soon as practicable as determined by the Partnership
in its reasonable discretion, having in mind pending
and potential litigation involving the parties hereto,
or either of them, financial considerations, and other
considerations reasonably deemed important or
significant to the Partnership. * * * [Emphasis
added.]
Beginning with the 1982 NFL season and throughout the years
in issue, the Raiders played their home games at the LA Coliseum.
The Raiders and the LAMCC did not enter into a formal lease (1984
lease) until December 8, 1984. The 1984 lease was made
effective, however, as of the beginning of the 1982 NFL season.
The 1984 lease included provisions for the $6.7-million loan to
the Raiders on essentially the same terms as the 1982 MOA and
contained a repayment provision that was essentially the same as
the 1982 MOA repayment provision, i.e., 12 percent of net
revenues from operations of suites to be constructed by the
Raiders. All physical improvements to the LA Coliseum and the
surrounding premises, i.e., the practice facilities, were to
revert to the LAMCC upon the termination of the lease. As to the
construction of the suites, the 1984 lease provided:
7.05 Construction of the Suites and the Press Box
Improvements shall commence as soon as practicable as
determined by the Lessee [Raiders] in its reasonable
discretion, having in mind pending and potential
litigation involving the parties hereto, or either of
them, financial considerations, and other
considerations reasonably deemed important or
significant to the Lessee. Lessee shall use its best
efforts to begin and complete Suite construction as
soon as possible and upon completion subject to the
terms hereof, to use its best efforts to rent, lease,
license, grant or otherwise deal with the same so as to
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