Common use of Adjustments of Leasing Expenses Clause in Contracts

Adjustments of Leasing Expenses. Any tenant improvement costs, rent abatements, concessions or commissions under Leases or renewals, or any other tenant inducement provided by Seller to any tenant, entered into prior to the Effective Date, whether payable prior to or after the Closing, shall be Seller’s responsibility and credited to Buyer at the Closing if not paid by Seller prior to the Closing. To the extent that any tenant terminates its Lease and pays a termination penalty pursuant to the terms of its Lease, the termination penalty shall be paid to Buyer and if paid to Seller prior to the Closing, shall be credited to Buyer at the Closing.

Adjustments of Leasing Expenses. Any tenant improvement costs, rent abatements, concessions or commissions under Leases or renewals, or any other tenant inducement provided by Seller Sellers to any tenant, entered into prior to the Effective Date, whether payable prior to or after the Closing, shall be Seller’s Sellers’ responsibility and credited to Buyer Buyers at the Closing if not paid by Seller Sellers prior to the Closing. To the extent that any tenant terminates its Lease and pays a termination penalty pursuant to the terms of its Lease, the termination penalty shall be paid to Buyer Buyers and if paid to Seller Sellers prior to the Closing, shall be credited to Buyer Buyers at the Closing.

Adjustments of Leasing Expenses. Any tenant improvement costs, rent abatements, concessions or commissions under Leases or renewals, or any other tenant inducement provided by a Seller to any tenant, entered into prior to the Effective Date, whether payable prior to or after the Closing, shall be such Seller’s responsibility and credited to Buyer at the Closing if not paid by Seller prior to the Closing. To the extent that any tenant terminates its Lease and pays a termination penalty pursuant to the terms of its Lease, the termination penalty shall be paid to Buyer and if paid to Seller prior to the Closing, shall be credited to Buyer at the Closing.