Liquidated Damages. Landlord and Tenant hereby acknowledge and agree that based upon the circumstances now existing, known and unknown, it would be impractical and extremely difficult to establish Tenant’s damages in the event the Substantial Completion Date does not occur by the Target Completion Date (as such date is extended by Force Majeure Delays and Tenant Delays). Accordingly, Landlord and Tenant agree that it would be reasonable at such time to award Tenant (and that Tenant will be entitled to) “liquidated damages” in accordance with the schedule below for each day of delay beyond the Target Completion Date (as such date is extended by Force Majeure Delays and Tenant Delays) until the earlier of # the Substantial Completion Date, or # the date Tenant terminates this Lease pursuant to [Section 7.4] below.

Date shall be extended by one (1) day for each day that achievement of Substantial Completion is delayed due to any Tenant Delay or an event of Force Majeure (the “Delay Rent Credits”). The parties agree that the actual damages to be suffered by Tenant in the event of a delay in achieving Substantial Completion by the Anticipated Delivery Date would be extremely difficult if not impossible to ascertain and that the amount of Delay Rent Credits set forth in this Section is a reasonable estimate of the actual damages to be suffered by Tenant and that such sum represents liquidated damages and not a penalty. By executing this provision where indicated below, each party specifically confirms the accuracy of the statements made above and the fact that each party fully understood the consequences of these liquidated damages provisions at the time this Lease was made.