Tenant Inducement Costs and Leasing Commissions. Except as contemplated in Section 9.3.1, Purchaser shall be responsible for the payment of all of the following Tenant Inducement Costs (as hereinafter defined) and leasing commissions: (a) those set forth in a Lease existing as of November 15, 2017 which relate to any renewal or expansion of any Lease occurring after November 15, 2017; and (b) any others that are not Seller Commissions, including, without limitation, those set forth in Section 4.3.3 above (collectively, “Purchaser Commissions”). Seller shall be responsible for the payment of all of the following Tenant Inducement Costs and leasing commissions: (i) those specifically identified as Seller’s obligation on Schedule 2.2; and (ii) those set forth in a Lease existing as of November 15, 2017 which, pursuant to such Lease, are payable prior to the Closing Date or relate to the base term of any Lease or the renewal or expansion of any Lease that occurred prior to November 15, 2017 (collectively, “Seller Commissions”). For purposes hereof, the term “Tenant Inducement Costs” shall mean any payments required under a Lease to be paid by the landlord thereunder to or for the benefit of the tenant thereunder which is in the nature of a tenant inducement, including specifically, without limitation, tenant improvement costs, tenant allowances, costs of required landlord work under a lease, lease buyout costs (other than those accruing as a result of a buyout option executed by Purchaser after the Closing Date, which buyout costs shall be Purchaser’s sole and exclusive responsibility), conveyance tax, moving, design, refurbishment and club membership allowances, but specifically excluding legal fees or loss of income resulting from any free rental period (it being agreed that Seller shall bear the loss resulting from any free rental period until the date of Closing and that Purchaser shall bear such loss from and after the Closing Date). The agreed tentative credit to Purchaser with respect to Tenant Inducement Costs and leasing commissions is set forth in Schedule 2.2. Prior to Closing either party shall have the right to update Schedule 2.2 to reflect (a) any change to the scheduled Closing Date, (b) amounts credited to Purchaser on Schedule 2.2 that Seller actually paid prior to Closing, (c) adjustment to the Hawaii State Federal Credit Union credit shown on Schedule 2.2 based on the actual date of its lease execution and the date of substantial completion of the landlord’s work thereunder, and (d) adjus...
Tenant Inducement Costs and Leasing Commissions. Except as set forth on Schedule 2 of the Disclosure Schedule, Seller is not obligated to pay any Tenant Payment Obligations with respect to any of the Leases.
Tenant Inducement Costs and Leasing Commissions. Except as provided below, all unpaid Tenant Inducement Costs and unpaid Leasing Commissions for Leases in place as of the Effective Date shall be credited to Buyer at the Closing. For any Proposed New Lease entered into by Seller after the Effective Date pursuant to Section 5.7 hereof, provided such Proposed New Lease was approved by Buyer in accordance with Section 5.7 hereof (and therefore constitutes a New Lease): (a) Buyer shall not be entitled to receive a credit at the Closing for any Leasing Commissions or Tenant Inducement Costs with respect to such New Lease; and (b) on the Closing, Buyer shall pay or reimburse Seller for all out-of-pocket Leasing Commissions and Tenant Inducement Costs paid by Seller with respect to such New Lease as of the Closing, and shall be responsible for any such remaining Tenant Inducement Costs and Leasing Commissions thereafter.
Tenant Inducement Costs and Leasing Commissions. Except as set forth herein, all Tenant Inducement Costs and Leasing Commissions payable with respect to any Tenant Lease existing or pending (including any commissions due on renewal of such Tenant Leases) as of the date of Closing shall be paid by Sellers at or prior to Closing. For purposes hereof, "TENANT INDUCEMENT COSTS" shall mean any payments required under a lease to be paid by the landlord thereunder (including the cost of work to be performed by or on behalf of the landlord) to or for the benefit of the Tenant thereunder, which is in the nature of a Tenant inducement or concession, including, without limitation, rent concessions, Tenant improvement costs, and other work allowances, lease buyout costs, legal fees and other expenses and moving allowances. The term "LEASING COMMISSIONS" shall mean any leasing commission payable to any third party broker, including, but not limited to Seller and its Affiliates (including Medistar) in connection with a lease for the initial term or any renewal, or extension period and/or expansion option.
Tenant Inducement Costs and Leasing Commissions. All Tenant Inducement Costs and Leasing Commissions payable with respect to any Tenant Lease existing or pending as of the date of Closing shall be paid by Sellers at or before Closing.
Tenant Inducement Costs and Leasing Commissions. The Partnership shall be responsible for the payment of all Tenant Inducement Costs and Leasing Commissions which become due and payable (whether before or after Closing) as a result of any Leases set forth on Schedule 1.3(e)(iii)(A) (the “New Leases”), or any Lease renewals, amendments or expansions (whether or not entered into pursuant to an option), arising as a result of any New Leases and (B) all Tenant Inducement Costs and Leasing Commissions with respect to Existing Leases set forth on Schedule 1.3(e)(iii)(B) (the “Partnership Leasing Costs”). With respect to Tenant Inducement Costs and Leasing Commissions as a result of Leases existing as of the date hereof other than Partnership Leasing Costs pursuant to New Leases, but including those described on Schedule 1.3(e)(iii), to the extent the same are unpaid as of Closing by VRLP or the Partnership Group, Investor shall receive a credit against the Purchase Price in the amount of the Investor’s Percentage of such Tenant Inducement Costs and Leasing Commissions, and the Partnership shall be responsible for the payment of the same as and when due.
Tenant Inducement Costs and Leasing Commissions. Purchaser shall be responsible for the payment of all Tenant Inducement Costs (as hereinafter defined) and leasing commissions specifically identified as Purchaser's obligation on Exhibit L attached hereto, including those set forth in any Lease existing as of the date hereof which, pursuant to such Lease, are not due and payable prior to the Closing. Seller shall be responsible for the payment of all of the following Tenant Inducement Costs and leasing commissions: (i) those specifically identified as Seller's obligation on Exhibit L; and (ii) those which are not described in the preceding sentence or are not otherwise provided for in accordance with Section 5.4.3 above. The term "
Tenant Inducement Costs and Leasing Commissions. Purchaser is obligated to pay the following: All Tenant Inducement Costs and Leasing Commissions, to the extent consistent with the prior estimates that were provided by Seller to Purchaser on or about November 23 or 24, 2010 (the “Estimates”), in connection with: Xxxxxx Crossing: Dollar Tree, Sun Tans and Joy Teriyaki leases Division Crossing: Postal Annex and Weight Watchers leases Any Tenant Inducement Costs or Leasing Commissions in connection with the above leases which are materially greater than those described in the Estimates shall require Purchaser’s written consent, which shall not be unreasonably withheld. Seller is obligated to pay the following: None 1 - Exhibit K EXHIBIT L FORM TENANT ESTOPPEL CERTIFICATE General Growth Properties, Inc. 000 Xxxxx Xxxxxx Xxxxx Chicago, Illinois 60606 Attention: Xxxxxx X. Xxxx, General Counsel [PURCHASER] __________________ __________________ Attention:______________ Re: Lease described in Exhibit A (the “Lease”) between the undersigned (“Tenant”) and the Landlord named therein (“Landlord”) concerning the premises described therein (“Leased Premises”) located at the property generally described in Part C of Exhibit A (“Property”). At the request of Landlord, made in connection with the proposed sale of the Property to the above named purchaser (“Purchaser”), the undersigned hereby certifies to Landlord and Purchaser, and any lender of Purchaser or Landlord (“Lender”), as follows:
Tenant Inducement Costs and Leasing Commissions. Except as disclosed on Schedule 5.1(f), (i) there are no Tenant Inducement Costs or Leasing Commissions now or hereafter due with respect to the Leases in effect as of the Effective Date, pursuant to written agreements and (ii) Seller has not entered into any brokerage or leasing commission agreements with respect to any Property, where a Leasing Commission for any Lease in effect as of the Effective Date has been earned but not fully paid;
Tenant Inducement Costs and Leasing Commissions. 1. At Closing, Buyer must reimburse Seller for any of the following amounts (which amounts have not yet been paid to the relevant tenants as of the execution date of this Agreement) which Seller pays to the relevant tenants between the execution date of this Agreement and Closing: Tenant Currently Unpaid Amounts (to be paid or reimbursed by Buyer) Hair Bar (Tenant Improvements + ½ of outside broker’s commission) $49,468.00 The Joint (Tenant Improvements + ½ of outside broker’s commission) $17,316.00 TOTAL $66,784.00
