Lululemon 2010 Annual Report Download - page 107
Download and view the complete annual report
Please find page 107 of the 2010 Lululemon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115 -
116 -
117 -
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
 |
 |
- 10 -
ARTICLE 4
VENDOR’S COVENANTS, REPRESENTATIONS AND WARRANTIES
3.4
R
ISK
.
The Lands and Equipment will be at the Vendor’s risk until the completion of the transaction contemplated herein and thereafter at the
risk of the Purchaser. If there is material loss or damage to the Lands and Equipment before the completion of the sale and the
purchase of the Purchased Property, the following provisions will apply:
(a) if in the written opinion of the Quantity Surveyor the estimated cost to repair such damage is less than $750,000, then the
Vendor must elect, within ten (10) Business Days of receipt of the Quantity Surveyor’
s opinion, to either (A) repair the damage
with due dispatch following the delivery of such opinion and receipt of applicable insurance proceeds or (B) assign to the
Purchaser all insurance policies and proceeds derived therefrom relevant to the damage to the Lands and the Equipment, and to
pay to the Purchaser on closing an amount equal to the deductible under such insurance policies and to complete the sale and
purchase of the Purchased Property;
(b) if in the written opinion of the Quantity Surveyor the estimated cost to repair such damage is greater than $750,000, then the
Purchaser will be entitled to elect, within ten (10) Business Days of receipt of the Quantity Surveyor’s opinion, to either
(A) terminate this Agreement, in which event the Deposit and all interest earned thereon will be returned to the Purchaser, and
thereafter neither party will have any further or continuing obligation to the other under this Agreement (except as otherwise
specifically provided for in this Agreement) or (B) require the Vendor to assign to the Purchaser all insurance policies and
proceeds derived therefrom relevant to the damage to the Lands and the Equipment, and to pay to the Purchaser on closing an
amount equal to the deductible under such insurance policies and to complete the sale and purchase of the Purchased Property;
(c) if necessary, the Completion Date will be extended until that day which is ten (10) Business Days after the delivery of the
Quantity Surveyor’s written opinion to the Vendor and the Purchaser, subject to further extension of the Completion Date
pursuant to paragraph (d) below; and
(d) if the Vendor elects to repair pursuant to paragraph (a) above, the completion of the purchase and sale of the Purchased
Property following the occurrence of any such damage will be the later of:
(i)
the Completion Date as defined in this Agreement; and
(ii) the tenth (10
th
) Business Day after the date the Purchaser receives from the Vendor a certificate of the Architect that the
damage to the Lands and the Equipment has been substantially repaired.
4.1
B
ASIC
C
OVENANTS
.
The Vendor covenants and agrees with the Purchaser that the Vendor will:
(a) subject to the rights of the Other Tenants, permit the Purchaser and the Purchaser’s employees, engineers, agents and advisors
to enter onto the Lands and carry out such