Common use of Starbucks Clause in Contracts

Starbucks. requires the Landlord to pay the Tenant an improvement Allowance in the amount of $25.00 per square foot or $45,075.00. We require the Tenant to state in their estoppel certificate that they are no longer owed the Tenant improvement Allowance. The estoppel will state that the Landlord’s Contribution obligations have been satisfactorily completed by Landlord, or Seller will provide written confirmation reasonably satisfactory to Buyer as to the foregoing. “EXCEPTION 11; ACCESS EASEMENT. BUYER OBJECTS TO EXCEPTION 11 IN LIGHT OF THE FACT SUCH ACCESS EASEMENT AUTOMATICALLY TERMINATES, PER ITS TERMS, UPON APPROVAL OF THE EXTENSION OF A PUBLIC STREET AT THE SHOPPING CENTER. SUBSEQUENT TO THE DATE OF SUCH EASEMENT, CAMINO ▇▇▇▇▇▇ AND ▇▇▇▇▇▇▇▇ ROAD WERE DEDICATED TO THE PUBLIC. ACCORDINGLY, BUYER WILL REQUIRE THAT SELLER CAUSE THE TITLE COMPANY TO DELETE SUCH EXCEPTION FROM THE PTR.” RESPONSE: SELLER WILL INVESTIGATE AND DETERMINE IF IT CAN HAVE THE TITLE COMPANY DELETE FROM THE PTR FOR THE REASONS BUYER HAS NOTED. “EXCEPTION 13; ACCESS EASEMENT. BUYER OBJECTS TO EXCEPTION 13 TO THE EXTENT THAT SUCH ACCESS EASEMENT IS TO TERMINATE WHEN CERTAIN IMPROVEMENTS ENUMERATED IN A PURCHASE AGREEMENT (AS DEFINED IN THE ACCESS EASEMENT), DATED FEBRUARY 7, 2000, HAVE BEEN COMPLETED AND CERTAIN QUIT CLAIM DEEDS HAVE BEEN RECORDED. BUYER WILL REQUIRE THAT SELLER DETERMINE WHETHER SUCH QUIT CLAIM DEEDS HAVE BEEN RECORDED AND, IF SO, CAUSE THE TITLE COMPANY TO DELETE SUCH EXCEPTION FROM THE PTR.” RESPONSE: SELLER WILL COMPLY WITH BUYER’S REQUEST TO DETERMINE WHETHER SUCH QUIT CLAIM DEED(S) HAVE BEEN RECORDED AND, IF SO, REQUEST THE TITLE COMPANY TO DELETE THIS EXCEPTION FROM THE PTR.