Common use of Additional Expenditures Clause in Contracts

Additional Expenditures. Transferor shall use commercially reasonable efforts to cause the following items and obligations to be fully paid, satisfied and completed (to Transferee’s reasonable satisfaction) prior to the Closing, all at Transferor’s sole cost and expense (collectively, the “Transferor Funding Requirements”): (a) each of the capital projects identified on Exhibit “N” attached hereto; and (b) all costs for the Tenant allowances, Tenant improvements and Lease commissions identified on Exhibit “O” attached hereto. To the extent that Transferor fails to fully pay, satisfy and complete any of the Transferor Funding Requirements prior to the Closing (each such failed Transferor Funding Requirement being hereinafter referred to as a “Failed Funding Requirement” and, collectively, as the “Failed Funding Requirements”), then (i) Transferee shall receive a credit against the Contribution Value equal to the expected cost (reasonably determined by Transferee and Transferor) to pay, satisfy and complete all Failed Funding Requirements and (ii) after the Closing, Transferee shall pay, satisfy and complete all Failed Funding Requirements (or shall cause its applicable property manager to pay, satisfy and complete all Failed Funding Requirements) at Transferee’s sole cost and expense. In the event that the credit against the Contribution Value that Transferee receives under this Section 10.9 exceeds the actual cost of completing all Failed Funding Requirements (as evidenced by invoices from third parties), then Transferee shall promptly distribute the amount of such excess to Transferor. In the event that the actual cost of completing all Failed Funding Requirements (as evidenced by invoices from third parties) exceeds the credit against the Contribution Value that Transferee receives under this Section 10.9, then Transferor shall promptly upon demand pay to Transferee the amount of such excess. The provisions of this Section 10.9 shall survive the Closing.