Outparcel A Vacant Space definition

Outparcel A Vacant Space means any tenant floor area upon Outparcel A that, as of the date of the Outparcel A closing, is not leased to tenants satisfying the Occupancy Conditions. Provided, however, in the event that as of the date of the Outparcel A closing, the 50% Minimum has been met, and the 95% Threshold has not been met, and any tenant space upon Outparcel A is not leased to tenants under leases with the Occupancy Conditions having been fulfilled, Seller shall deposit with Escrow Agent, from Seller's net proceeds of sale of Outparcel A, an amount equal to: (i) all unpaid tenant improvement allowances due under any lease signed as of the date of the Outparcel A closing for which the Occupancy Conditions are not then fulfilled, plus (ii) all unpaid broker commissions or consultant fees due by reason of any lease signed as of the date of the Outparcel A closing for which the Occupancy Conditions are not then fulfilled, plus (iii) a sum equal to the abatement of rent and reimbursable expenses under any lease signed as of the date of the Outparcel A closing for which the Occupancy Conditions are not then fulfilled, plus (iv) for all Outparcel A Vacant Space not subject to a lease as of the date of the Outparcel A closing, an amount equal the sum of: (a) $5.00 per square foot of Outparcel A Vacant Space as and for leasing commissions, plus (b) $3.00 per square foot of Outparcel A Vacant Space as and for tenant improvement allowances, plus (c) the monthly rental rate ("Rent") to be provided on the Rent Roll for each tenant space that is a part of Outparcel A Vacant Space as of the date of the Outparcel A closing for 12-months, plus (d) 20.833 cents per square foot per month of Outparcel A Vacant Space multiplied by 12-months for reimbursable expenses ("Reimbursable Expenses"), plus an amount per square foot to be mutually agreed upon by Buyer and Seller prior to the Outparcel A closing attributable to Outparcel A Vacant Space not finished to the standards described upon Exhibit O attached hereto and made a part hereof (collectively, the "Outparcel A Master Lease Deposit"). From the date of Outparcel A closing through the date upon which all Occupancy Conditions are satisfied for the Outparcel A Vacant Space, Escrow Agent shall pay to Buyer from the Outparcel A Master Lease Deposit, on the first day of each month, the amount of Rent and Reimbursable Expenses which would be due on a monthly basis from tenants of the Outparcel A Vacant Space as if the Occupancy Conditions were satis...
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Examples of Outparcel A Vacant Space in a sentence

  • From the date of Outparcel A closing through the date upon which all Occupancy Conditions are satisfied for the Outparcel A Vacant Space, Escrow Agent shall pay to Buyer from the Outparcel A Master Lease Deposit, on the first day of each month, the amount of Rent and Reimbursable Expenses which would be due on a monthly basis from tenants of the Outparcel A Vacant Space as if the Occupancy Conditions were satisfied (prorated for any partial month).

  • The balance of the Outparcel A Master Lease Deposit, if any, attributable to any Outparcel A Vacant Space remaining at the time of satisfaction of the Occupancy Conditions with regard to any Outparcel A Vacant Space within 12-months of the date of the Outparcel A closing, shall be immediately released to Seller.

  • For purposes hereof, the term "Outparcel A Vacant Space" shall mean any tenant floor area upon Outparcel A that, as of the date of the Outparcel A closing, is not leased to tenants satisfying the Occupancy Conditions.