Common use of Commission Rate Clause in Contracts

Commission Rate. Owner shall pay commissions to Manager in accordance with this commission schedule (this "Schedule") for leases of any space in the Project as follows: (i) four percent (4%) of the total Minimum Base Rent for the first five years of the lease term, (ii) two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the lease term, and (iii) one percent (1%) of the total Minimum Base Rent for the eleventh through fifteenth years of the lease term. In the event the lease term is in excess of fifteen years, no commission shall be paid on said excess term. Notwithstanding the provisions of this Paragraph 1 to the contrary, in the event an existing tenant enters into a new lease for space in the Project, Manager shall receive a commission of four percent (4%) of the total Minimum Base Rent for the first five years of the new lease term, two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the new lease term, and no commission for any additional years of the new lease term. In the event a prospective tenant executes a lease for space in the Project, but does not actually pay rent for such space for reasons unrelated to any default of Owner, Manager shall not be entitled to any commission with respect to such lease, and shall refund to Owner any commissions paid with respect thereto.

Commission Rate. Owner shall pay commissions to Manager in accordance with this commission schedule (this "“Schedule"”) for leases of any space in the Project as follows: (i) four percent (4%) of the total Minimum Base Rent for the first five years of the lease term, (ii) two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the lease term, and (iii) one percent (1%) of the total Minimum Base Rent for the eleventh through fifteenth years of the lease term. In the event the lease term is in excess of fifteen years, no commission shall be paid on said excess term. Notwithstanding the provisions of this Paragraph 1 to the contrary, in the event an existing tenant enters into a new lease for space in the Project, Manager shall receive a commission of four percent (4%) of the total Minimum Base Rent for the first five years of the new lease term, two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the new lease term, and no commission for any additional years of the new lease term. In the event a prospective tenant executes a lease for space in the Project, but does not actually pay rent for such space for reasons unrelated to any default of Owner, Manager shall not be entitled to any commission with respect to such lease, and shall refund to Owner any commissions paid with respect thereto.

Commission Rate. Owner shall pay commissions to Manager in accordance with this commission schedule (this "“Schedule"”) for leases of any space in the Project as follows: (i) four percent (4%) of the total Minimum Base Rent for the first five years of the lease term, (ii) two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the lease term, and (iii) one percent (1%) of the total Minimum Base Rent for the eleventh through fifteenth years of the lease term. In the event the lease term is in excess of fifteen years, no commission shall be paid on said excess term. Notwithstanding the provisions of this Paragraph 1 to the contrary, in the event an existing tenant enters into a new lease for space in the Project, Manager shall receive a commission of four percent (4%) of the total Minimum Base Rent for the first five years of the new lease term, two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the new lease term, and no commission for any additional years of the new lease term. In the event a prospective tenant executes a lease for space in the Project, but does not actually pay rent for such space for reasons unrelated to any default of Owner, , Manager shall not be entitled to any commission with respect to such lease, and shall refund to Owner any commissions paid with respect thereto.

Commission Rate. Each Owner shall pay commissions to Manager in accordance with this commission schedule (this "“Schedule"”) for leases of any space in the Project its Property as follows: (i) four percent (4%) of the total Minimum Base Rent for the first five years of the lease term, (ii) two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the lease term, and (iii) one percent (1%) of the total Minimum Base Rent for the eleventh through fifteenth years of the lease term. In the event the lease term is in excess of fifteen years, no commission shall be paid on said excess term. Notwithstanding the provisions of this Paragraph 1 to the contrary, in the event an existing tenant enters into a new lease for space in the Projecta Building, Manager shall receive a commission of four percent (4%) of the total Minimum Base Rent for the first five years of the new lease term, two percent (2%) of the total Minimum Base Rent for the sixth through tenth years of the new lease term, and no commission for any additional years of the new lease term. In the event a prospective tenant executes a lease for space in the Projecta Property, but does not actually pay rent for such space for reasons unrelated to any default of Owner, Manager shall not be entitled to any commission with respect to such lease, and shall refund to Owner any commissions paid with respect thereto.