Contraction Consideration Sample Clauses

Contraction Consideration. As a condition to the effectiveness of Tenant’s exercise of either Contraction Right and in addition to Tenant’s obligation to satisfy all other monetary and non-monetary obligations arising under the Lease through to the applicable contraction date, Tenant shall pay to Landlord the following “Contraction Consideration”: (a) six (6) months’ Base Rent for the applicable floor to be surrendered, plus (b) $2,761,964.81, for the First Contraction Right, and $2,218,842.42, for the Second Contraction Right, as applicable, plus (c) the then unamortized value of the following (amortized over the Lease Term together with interest at the rate of eight percent [8%] per annum): (i) the cost of the initial Tenant Improvements paid for by the Allowance for the applicable floor to be surrendered, and (ii) brokerage commissions paid by Landlord in connection with the execution of this Lease applicable to the floor to be surrendered (which shall be allocated based on the square footage). Fifty percent (50%) of the Contraction Consideration shall be due and payable by Tenant to Landlord concurrently with Tenant’s delivery of the Contraction Notice to Landlord, and the remaining fifty percent (50%) of the Contraction Consideration shall be due and payable by Tenant to Landlord prior to the termination date for the applicable Contraction Right. If Tenant properly and timely exercises a Contraction Right and properly and timely delivers the Contraction Consideration to Landlord applicable to such Contraction Right as set forth above and satisfies all other monetary and non-monetary obligations under this Lease including, without limitation, the provisions regarding surrender of the Premises as to the floor to be surrendered, all of which must be accomplished on or before the applicable contraction date, then the applicable portion of the Lease will terminate as to the applicable floor to be surrendered as of 11:59 pm on the applicable contraction date.
Sample 1
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Related to Contraction Consideration

  • Transaction Consideration The Transaction Consideration;

  • Acquisition Consideration (a) The consideration (the "ACQUISITION CONSIDERATION") to be received by each Grantor in respect of the contribution of the Grantor's Interests to the Operating Partnership shall be an amount equal to $100.00 (one hundred dollars). The Acquisition Consideration shall be paid in the form of a combination of (i) cash and/or (ii) units of limited partnership interest in the Operating Partnership ("OP UNITS"), in the percentages and allocations set forth on Schedule B attached hereto. To the extent a percentage of the Acquisition Consideration includes one or more OP Units, as set forth on Schedule B, the number of OP Units the Grantor shall be entitled to receive upon the exercise of the Option with respect to such percentage shall equal the quotient of

  • Option Consideration (a) (i) Owner hereby grants to the Operating Partnership an option (the “Option”) to acquire Owner’s interest in the leasehold estate created by the Ground Lease and all hereditaments thereto and all of Owner’s assets (other than Excluded Assets) as of the Valuation Date (collectively, the “Assets”) for the Consideration determined in accordance with Section 2(b), subject to closing adjustments as provided herein.

  • Initial Consideration On the Effective Date, Retrocessionaire shall reimburse Retrocedant for one hundred percent (100%) of any and all unearned premiums paid by Retrocedant under such Inuring Retrocessions net of any applicable unearned ceding commissions paid to Retrocedant thereunder.

  • Total Consideration The aggregate consideration (the "Consideration") payable by the Surviving Partnership in connection with the merger of the Merged Partnership with and into the Surviving Partnership shall be $8,275,000, subject to adjustments at Closing pursuant to Section 3.9 and costs paid pursuant to Section 3.10(c) and Section 3.11, plus the amount of any tax or other reserves held by the Existing Lender (hereinafter defined).

  • Stock Consideration 3 subsidiary...................................................................53

  • Additional Consideration Retrocessionaire agrees to pay under the Inuring Retrocessions all future premiums Retrocedant is obligated to pay pursuant to the terms of the Inuring Retrocessions to the extent that such premiums are allocable to Retrocessionaire in the manner set forth in Exhibit E hereto, and not otherwise paid by Retrocessionaire and to indemnify Retrocedant for all such premiums paid directly by Retrocedant, net of any ceding commissions and similar amounts paid by Third Party Retrocessionaires to Retrocedant.

  • Closing Consideration The closing consideration shall be delivered at the Closing as follows:

  • Earn-Out Consideration (a) If the earnings before taxes (the "EBT") of the Company for the twelve months ending December 31, 1998, increased by amounts in respect of those items set forth on Schedule 2.5 that affected net income during the period from January 1, 1998 through the Closing Date and decreased by the amount of UniCapital corporate overhead allocated to the Company for the period from the Closing Date through December 31, 1998 (the "Adjusted 1998 EBT"), exceeds the EBT of the Company for the twelve months ending December 31, 1997, inclusive of the add-backs set forth on Schedule 2.5 (the "Adjusted 1997 EBT"), then the Stockholders shall be entitled to receive one-half of the difference between the Adjusted 1998 EBT and the Adjusted 1997 EBT.

  • Purchase Price; Consideration Purchaser shall, on the date hereof (the “Closing Date”), issue to Seller a promissory note, substantially in the form attached hereto as Exhibit B, in the sum of Fifteen Thousand Dollars ($15,000) (the “Promissory Note”) as the consideration for the Ownership Interests.

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