Suite 250 Sample Clauses

Suite 250. Seller shall use commercially reasonable efforts to complete the extension of the Tenant Lease with respect to the Tenant in Suite 250 in KOMO Plaza West on terms reflected in the First Amendment to Lease attached hereto as Exhibit O (such terms, the “Suite 250 Extension Terms”, and such extension, the “Suite 250 Extension”) prior to Closing; provided, however, that the failure to obtain the Suite 250 Extension shall not be a condition to Closing. Seller and Purchaser acknowledge and agree that the version of the First Amendment to Lease attached as Exhibit O has not been finally agreed upon or approved by the Tenant in Suite 250. However, any changes to such version of the First Amendment to Lease are subject to approval by Purchaser prior to execution of the First Amendment to Lease by Seller. If the Suite 250 Extension is not completed prior to Closing, at Closing Seller shall escrow two million five hundred thousand dollars ($2,500,000) (the “Suite 250 Escrow Amount”) with the Title Company. Seller or its agents (as reasonably agreed to by Purchaser) shall have the right to continue to pursue the Suite 250 Extension following Closing, provided that Purchaser shall have the right to approve any changes in the Suite 250 Extension Terms and all other terms proposed by Seller for the Suite 250 Extension. In the event the Suite 250 Extension is executed within six (6) months after the Closing Date (Purchaser hereby agreeing to execute the Suite 250 Extension once finally approved by Purchaser), a portion of the Suite 250 Escrow Amount sufficient to pay the sum of (i) any tenant improvement allowances, leasing commissions for which Purchaser did not receive a credit at Closing or other concessions and costs related to the Suite 250 Extension, if any and (ii) the difference between (x) the in-place revenues received or to be received by Purchaser from the Property from the Closing Date to the date of execution of the Suite 250 Extension and (y) the revenues that would have been received by Purchaser from the Property from the Closing Date to the date of execution of the Suite 250 Extension had the Suite 250 Extension been executed prior to or at Closing (the “Suite 250 Extension Payment”), shall be paid to Purchaser from the Suite 250 Escrow Amount, and the balance of the Suite 250 Escrow Amount shall be paid to Seller. If the Suite 250 Extension has not been executed within such six (6) month period, then the Suite 250 Escrow Amount shall be paid to Purchase...
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