[troutman]

Brett Murdock ‏@B_Murdock1320
And so the deal points are up on #Glendale's website. Link: http://www.glendaleaz.com/documents/coyotes--leaseagreementdraft_17319116_6062713.pdf … #Coyotes

Early Termination. Notwithstanding the other terms and provisions of this
Agreement, Team Owner and Arena Manager jointly shall have the right to terminate this Agreement
without penalty or cost by delivery of written notice to the City at any time following the fifth (5th) year after commencement of the Term when (a) neither terminating Party is in material default of any term or condition of this Agreement, and (b) Team Owner has incurred a cumulative Operating Loss of $50,000,000 or more, calculated as the sum of Team Owner’s operating income/loss for each of the Fiscal
Year periods then ended, provided that if such notice is given during any NHL hockey season, the
termination shall not be effective until the end of the applicable hockey season, including all Home
Games associated with the season. In this regard, Team Owner shall deliver to the City, not later than
ninety (90) days following the end of each Fiscal Year, a statement (certified to the City by the Team
Owner’s chief financial officer or the Team Owner’s certified public accountants, at the option of Team
Owner) of the Team Owner’s claimed operating income or loss for such Fiscal Year, which statement
shall be subject to audit by the City and shall thereafter be conclusive upon Team Owner with respect to
the cumulation of Operating Losses, if any. Notwithstanding the foregoing, there shall be no right of the
Team Owner or Arena Manager to terminate this Agreement pursuant to this Section 3.3 except as provided in Section 3.4.