Consideration to Landlord. In the event of any assignment or sublease, other than pursuant to Paragraph 13.h. below, Landlord shall be entitled to receive, as additional rent hereunder, fifty percent (50%) of any consideration (including, without limitation, payment for leasehold improvements) paid by the assignee or subtenant for the assignment or sublease and, in the case of a sublease, fifty percent (50%) of the excess of the amount of rent paid for the sublet space by the subtenant over the amount of Monthly Rent under Paragraph 5 above and Additional Rent under Paragraph 7 above attributable to the sublet space for the corresponding month; except that Tenant may recapture, on a straight line amortized basis (without interest) over the term of the sublease or assignment, any brokerage commissions paid by Tenant in connection with the subletting or assignment (not to exceed commissions typically paid in the market at the time of such subletting or assignment), reasonable attorneys fees in connection with the subletting or assignment, any improvement allowance paid by Tenant to the subtenant or assignee and any improvement costs incurred by Tenant specifically to prepare the space for such assignment or subletting (which costs shall exclude, without limitation, all costs of the Initial Alterations constructed pursuant to Paragraph 4 above, whether paid by Landlord or Tenant) (collectively the “Assignment or Subletting Costs”), provided that, as a condition to Tenant recapturing the Assignment or Subletting Costs, Tenant shall provide to Landlord, within ninety (90) days of Landlord’s execution of Landlord’s consent to the assignment or subletting, a detailed accounting of the Assignment or Subletting Costs and supporting documents, such as receipts and construction invoices. To effect the foregoing, Tenant shall deduct from the monthly amounts, received by Tenant from the subtenant or assignee as rent or consideration (i) the Monthly Rent and Additional Rent payable by Tenant to Landlord for the subject space for the corresponding month, and (ii) the incremental amount, on an amortized basis, of the Assignment or Subletting Costs, and fifty percent (50%) of the then remaining sum shall be paid promptly to Landlord. Upon Landlord’s request, Tenant shall assign to Landlord all amounts to be paid to Tenant by any such subtenant or assignee and that belong to Landlord and shall direct such subtenant or assignee to pay the same directly to Landlord. If there is more than one sublease u...
Consideration to Landlord. In the event of any assignment or sublease, whether or not requiring Landlord's consent, Landlord shall be entitled to receive, as Additional Rent, one-half (1/2) of any consideration, including, without limitation, payment for leasehold improvements owned by Landlord, paid by the assignee or subtenant for the assignment or sublease and, in the case of sublease, the excess of the amount of rent paid for the sublet space by the subtenant over the total amount of Minimum Monthly Rent under Section 5 and Additional Rent under Sections 7 and 9. Upon Landlord's request, Tenant shall assign to Landlord all amounts to be paid to Tenant by the assignee or subtenant and shall direct such assignee or subtenant to pay the same directly to Landlord. If there is more than one sublease under this Lease, the amounts (if any) to be paid by Tenant to Landlord pursuant to the preceding sentence shall be separately calculated for each sublease and amounts due Landlord with regard to any one sublease may not be offset against rental and other consideration pertaining due under any other sublease. Any profits shall be calculated only above and beyond the dollars that are spent to secure a Subtenant (i.e., Tenant Improvement's commissions, free rent, etc.). With regard to an approved assignment or subletting, Tenant acknowledges that Landlord's agreement to deal directly with the assignee or subtenant with regard to such party's occupancy of the Premises and the administration of the Lease, without requiring Tenant to monitor or become directly involved in such matters, constitutes appropriate and acceptable consideration for the capture by Landlord of any rent or consideration paid by the assignee or subtenant in excess of that required to be paid by Tenant under the Lease.
Consideration to Landlord. Except for those Occupancy Transactions permitted pursuant to the provisions of Section 15.8 without Landlord's prior consent, if Tenant enters into an Occupancy Transaction, the Minimum Annual Rent then payable and any scheduled increases thereto shall be increased on the effective date of such transaction to the highest of: (a) the total Minimum Annual Rent payable by the Transferee to Tenant; (b) an amount equal to the total of the Minimum Annual Rent plus Percentage Rent required to be paid by Tenant pursuant to this Lease during the calendar year immediately preceding such transaction; or (c) the Minimum Annual Rent payable in the first full year of the Lease Term, increased in accordance with the CPI Adjustment Procedures using the Rent Commencement Date as the Base Month and the effective date of such transaction as the Month of Adjustment. In no event shall the Minimum Annual Rent, as adjusted, be less than the Minimum Annual Rent in effect prior to the effective date of the Occupancy Transaction.
Consideration to Landlord. In consideration for Landlord's execution and performance of this Agreement, Tenant hereby agrees that on the Effective Date Tenant shall cause the FF&E Reserves to be paid to Landlord by wire transfer and that Landlord may retain the Retained Funds less $2,500,000, which amount shall be released by Landlord to Tenant and paid by wire transfer on the Effective Date.
Consideration to Landlord. In consideration for Landlord’s execution of this Agreement, Tenant shall pay to Landlord the total amount of Fourteen Million Three Hundred Thousand and No/100 Dollars ($14,300,000.00) (the “Termination Fee”), which Termination Fee shall be delivered to Landlord in three (3) separate payments as follows:
5.1 Within one (1) business day after Landlord and Tenant’s execution of this Agreement, Tenant shall deliver to Landlord, via wire transfer, the amount of Four Million Five Hundred Thousand and No/100 Dollars ($4,500,000.00) (the “Initial Payment”); provided, however, in no event shall this Agreement be effective prior to Landlord’s receipt of such Initial Payment.
5.2 On or before July 1, 2010, Tenant shall deliver to Landlord the amount of Four Million Five Hundred Thousand and No/100 Dollars ($4,500,000.00) (the “Second Payment”).
5.3 On or before April 1, 2011, Tenant shall deliver to Landlord the amount of Five Million Three Hundred Thousand and No/100 Dollars ($5,300,000.00) (the “Third Payment”). In the event that Tenant fails to timely make the Second Payment or the Third Payment, such failure shall be deemed a default hereunder and entitle Landlord to exercise its right to draw down on the “L-C,” as that term is defined in Section 8, below.
Consideration to Landlord. Without in any way limiting the prohibitions under Section 13.2 above, if Landlord agrees to consent to an assignment or sublease, (i) Tenant shall pay Landlord seventy-five percent (75%) of the consideration received by Tenant attributable to the assignment of Tenant's interest in this Lease and (ii) Tenant shall pay to Landlord from time to time, immediately after Tenant's receipt thereof, seventy-five percent (75%) of all rent or other consideration Tenant receives from such subtenant in excess of the rent payable under this Lease, as appropriately prorated with respect to a sublease of a portion of the Premises. In making the calculations provided for this Section, the consideration paid to Tenant shall first be reduced by Tenant's expenses associated with an assignment or sublease, including without limitation, brokerage fees, remodeling costs, attorneys' fees or other fees charged by Landlord.
Consideration to Landlord. In the event of any assignment or sublease, whether or not requiring Landlord's consent, Landlord shall be entitled to receive, as Additional Rent, one-half (1/2) of any consideration, including without limitation, payment for leasehold improvements paid for by Landlord, paid by the assignee or subtenant for the assignment or sublease, and, in the case of sublease, one-half (1/2) the excess of the amount of rent paid for the sublet space by the subtenant over the total amount of Base Monthly Rent under Section 5 and Additional Rent. Upon Landlord's request, Tenant shall assign to Landlord all amounts to be paid to Tenant by the assignee or subtenant and shall direct such assignee or subtenant to pay the same directly to Landlord. If there is more than one sublease under this Lease, the amounts (if any) to be paid by Tenant to Landlord pursuant to the preceding sentence shall be separately calculated for each sublease and amounts due Landlord with regard to any one sublease may not be offset against rental and other consideration due under any other sublease.
Consideration to Landlord. In the event of an Assignment or sublease, Landlord shall be entitled to one-half (1/2) of the "bonus rent" as a result of such assignment or sublease. "Bonus rent" shall mean, (i) in the case of an Assignment, the value of all consideration paid by the Transferee for the Assignment, net of all reasonable costs, including without limitation reasonable commissions incurred by Tenant in connection with the Assignment, and (ii) in the case of a sublet, the value of all consideration paid to Tenant together with the excess, if any, in subrentals (including percentage rent) received by Tenant relating to the portion of the Premises being sublet over that portion of the corresponding payments of Minimum Annual Rent, Percentage Rent and Additional Rent for the same period made by Tenant to Landlord under this Lease, such excess being thereafter netted by the amount of all reasonable costs, including without limitation reasonable commissions incurred by Tenant in connection with the sublease.
Consideration to Landlord. In consideration for Landlord's execution of this Agreement, (i) Tenant shall pay to Landlord all monetary amounts owing under the Lease up to and through the Termination Date, including without limitation, all rental charges, (ii) Tenant agrees that Landlord shall be entitled to retain an amount equal to $20,000.00 of the security deposit held by Landlord under the Lease without liability to Tenant, and Tenant hereby relinquishes such amount to Landlord to reimburse Landlord for Landlord's unamortized costs in connection with entering into the Lease as of the Termination Date and other expenses associated with the re-leasing of the Premises; and (iii) in accordance with the provisions of the Lease, Landlord shall be entitled to retain any other portion of the security deposit to the extent Tenant does not surrender possession of the Premises in the condition required by the Lease and this Agreement.
Consideration to Landlord. (a) In the event Landlord shall consent to an Occupancy Transaction, the Minimum Annual Rental specified in Article 1 shall be increased on the effective date of such transaction to the highest of:
(i) The minimum or base rental payable by the Transferee to the Tenant;
(ii) An amount equal to the total of the Minimum Annual Rental plus Percentage Rental required to be paid by Tenant pursuant to this Lease during the twelve (12) month period immediately preceding such transaction;
(iii) The Minimum Annual Rental specified in Article 1 for the first year of the Lease Term increased in accordance with Section 4.2 hereof (with no minimum or maximum increase as may be provided elsewhere) using the Rent Start Date as the Commencement Date, and the effective date of the Occupancy Transaction as the Adjustment Date; or
(iv) Such Minimum Annual Rental as Landlord shall determine (on a pro rata square footage basis) is the prevailing "market rent" for the Premises by averaging the Minimum Annual Rentals obtained by Landlord from the three (3) most recent comparable tenants to lease space in the Property. In no event shall the Minimum Annual Rental, as adjusted, be less than the Minimum Annual Rental specified in Article 1.
(b) In the event Landlord consents to an Occupancy Transaction, Tenant shall pay Landlord any and all consideration received by Tenant in such transaction (other than for the purchase of Tenant's Personal Property as defined in Article 10, Section 10.
