Common use of Post-Closing Vacancy Holdback Clause in Contracts

Post-Closing Vacancy Holdback. For each property included among the properties that collectively comprise the Property that are subject to leases which have been entered into within the ninety (90) days prior to Closing (individually, a “Newly Leased Property” and collectively, the “Newly Leased Properties”), an amount equal to Two Thousand Five Hundred and 00/100 Dollars ($2,500) of the Purchase Price for each Newly Leased Property (the “Post-Closing Vacancy Holdback”) shall be withheld by the Escrow Holder subject to the following terms. If any of the Newly Leased Properties become tenantless or vacant because the tenant or other occupant breached the lease or other occupancy agreement within ninety (90) days after Closing, for each such property, Buyer shall provide back-up documentation reasonably satisfactory to Seller documenting the breach and missing tenant or vacancy and shall be refunded Two Thousand Five Hundred and 00/100 Dollars ($2,500.00) per occurrence from the Post-Closing Vacancy Holdback. After ninety (90) days have elapsed after the closing, the balance of the Post-Closing Vacancy Holdback, if any, shall be delivered to Seller.

Post-Closing Vacancy Holdback. For each property included among the properties that collectively comprise the Property that are subject to leases which have been entered into within the ninety (90) days prior to Closing (individually, a “Newly Leased Property” and collectively, the “Newly Leased Properties”), an amount equal to Two Twenty-Five Thousand Five Hundred and 00/100 Dollars ($2,50025,000.00) of the Purchase Price for each Newly Leased Property (the “Post-Closing Vacancy Holdback”) shall be withheld by the Escrow Holder subject to the following terms. If any of the Newly Leased Properties properties that comprise the Property (i) are leased to a tenant pursuant to a lease agreement entered into between Seller and such tenant within ninety (90) days prior to the closing of such property and/or (ii) are leased to a tenant that does not satisfy tenant qualification requirements mutually acceptable to Seller and Buyer, and any such properties become tenantless or vacant because the tenant or other occupant breached the lease or other occupancy agreement within ninety (90) days after Closing, for each such property, Buyer shall provide back-up documentation reasonably satisfactory to Seller documenting the breach and missing tenant or vacancy and shall be refunded Two Five Thousand Five Hundred and 00/100 Dollars ($2,500.005,000.00) per occurrence from the Post-Closing Vacancy Holdback. The maximum amount that can be refunded to Buyer hereunder is capped at $25,000. After ninety (90) days have elapsed after the closing, the balance of the Post-Closing Vacancy Holdback, if any, shall be delivered to Seller.

Post-Closing Vacancy Holdback. For each property included among the properties that collectively comprise the Property that are subject to leases which have been entered into within the ninety (90) days prior to Closing (individually, a “Newly Leased Property” and collectively, the “Newly Leased Properties”), an amount equal to Two Twenty Thousand Five Hundred and 00/100 Dollars ($2,50020,000.00) of the Purchase Price for each Newly Leased Property (the “Post-Closing Vacancy Holdback”) shall be withheld by the Escrow Holder subject to the following terms. If any of the Newly Leased Properties properties that comprise the Property (i) are leased to a tenant pursuant to a lease agreement entered into between Seller and such tenant within ninety (90) days prior to the closing of such property and/or (ii) are leased to a tenant that does not satisfy tenant qualification requirements mutually acceptable to Seller and Buyer, and any such properties become tenantless or vacant because the tenant or other occupant breached the lease or other occupancy agreement within ninety (90) days after Closing, for each such property, Buyer shall provide back-up documentation reasonably satisfactory to Seller documenting the breach and missing tenant or vacancy and shall be refunded Two Five Thousand Five Hundred and 00/100 Dollars ($2,500.005,000.00) per occurrence from the Post-Closing Vacancy Holdback. The maximum amount that can be refunded to Buyer hereunder is capped at $20,000. After ninety (90) days have elapsed after the closing, the balance of the Post-Closing Vacancy Holdback, if any, shall be delivered to Seller.