ADJUSTED CONTRIBUTION VALUE Sample Clauses

ADJUSTED CONTRIBUTION VALUE. After determination of the Contribution --------------------------- Value of a Northern Telecom Property, such Contribution Value shall be subject to the following further prorations, allocations and adjustments, all as of the Contribution Date (the "Adjusted Contribution Value"): a. If no adjustment to Gross Income has been made for free rent concessions pursuant to the definition of Gross Income, the Contribution Value shall be reduced by the amount of free rent concessions unexpired as of the Contribution Date; provided, however, the Contributors may elect to make a cash payment to Weeks for the amount of unexpired free rent concessions in lieu of such adjustment. b. If adjustment to Gross Income has been made for excess tenant allowance and related lease commission pursuant to clause (ii) of the definition of Gross Income, the Contribution Value shall be increased by the actual cost of the tenant allowance in excess of Ten Dollars ($10.00) per square foot and related lease commissions. c. If the Northern Telecom Property is to be contributed subject to an Existing Loan in accordance with the terms and conditions of Paragraph 9 of this Agreement, the Contribution Value shall be reduced by the outstanding principal balance of that Existing Loan as of the Contribution Date. d. Any reduction in the Contribution Value pursuant to Paragraph 9b iii of this Agreement. e. Any other adjustment to the Contribution Value for which express provision is made in this Agreement f. In the event that the Adjusted Contribution Value of a Vacated Northern Telecom Property is less than the outstanding principal balance on the Contribution Date of the Existing Loan that encumbers that Vacated Northern Telecom Property, then the Contributors shall pay to Weeks on the Contribution Date a cash payment equal to the excess of such outstanding balance over the Adjusted Contribution Value and, for the purposes of ▇▇▇▇▇▇▇▇▇ ▇▇ of this Agreement, no additional Units shall be issued to the Contributors for Contribution of that Vacated Northern Telecom Property. In lieu of such cash payment, the Contributors may elect to surrender and return to Weeks without compensation a number of Units equal to the quotient of such excess divided by the Unit Price. This obligation of the Contributors to make this cash payment is joint and several and is secured by the pledge of Units and Shares contained in the Partnership Amendments.