Existing Lease Obligations. Buyer shall be credited and -------------------------- Seller shall be charged with operating costs (i.e., maintenance charges, taxes and insurance), including, but not limited to maintenance obligations under the Leases, tenant improvement costs and allowances, all leasing commissions for leases entered into prior to the Close of Escrow, and specifically including the amount of Seven Thousand One Hundred Thirteen and 00/00 Dollars ($7,113.00) for prepaid rent for the months of February and March, 1998 under the Lease with Xxxx Xxxxx (including all commissions relating to any renewal or extension of a Lease or the leasing of additional space exercised prior to the Close of Escrow) of the landlord associated with the Leases existing prior to the Close of Escrow. Seller shall have no obligation to Buyer for expenses relating to lease renewals or expansions which are exercised by tenants under the Leases after the Close of Escrow.
Existing Lease Obligations. Notwithstanding the foregoing, Tenant apply up to $127,522.00 (calculated at $2.00 per rentable square foot of the Premises) from the Improvement Allowance toward their existing rental obligations pursuant to that certain lease for space located at TangenX, 000 Xxxxxx Xxxxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxxxxxxx 00000 (the “Existing Lease Obligations”). In connection therewith, Tenant shall provide written notice of its election to apply such portion of the Improvement Allowance toward the Existing Lease Obligations, such notice to provide the amount Tenant elects to apply and be accompanied by reasonable evidence of such Existing Lease Obligations.
Existing Lease Obligations. Subject to the treatment of -------------------------- Special Lease Costs provided for below, Buyer shall be credited and Seller shall be charged with operating costs (i.e., maintenance charges, taxes and insurance), including, but not limited to maintenance obligations under the Leases, tenant improvement costs and allowances, all leasing commissions for leases entered into prior to the Close of Escrow (including all commissions relating to any renewal or extension of a Lease or the leasing of additional space exercised prior to the Close of Escrow) of the landlord associated with the Leases existing prior to the Close of Escrow. Seller shall have no obligation to Buyer for expenses relating to lease renewals or expansions which are exercised by tenants under the Leases after the Close of Escrow. Buyer shall be charged and Seller credited for capital expenditures (repairs and replacements), tenant improvement costs and leasing commissions (collectively, "Special Lease Costs") relating to Leases and allocable to the period of time after November 17, 1997, and prior to the Close of Escrow, to the extent actually paid by Seller, as shown on Exhibit "U" attached; provided, however, the ------- --- maximum amount of Special Lease Costs charged to Buyer shall not exceed Twenty Thousand Six Hundred One and 26/100 Dollars ($20,601.26). Seller shall be responsible for all other Special Lease Costs.
Existing Lease Obligations. Tenant currently leases approximately 30,611 rentable square feet of space at Plymouth Xxxxx pursuant to a Lease dated October 19, 1999, as amended by Amendment No. 1 to Lease dated March 29, 2002 and by Amendment No. 2 to Lease dated March 31, 2003 (“Existing Lease”) . Tenant represents that Tenant is obligated to pay net rent and taxes and operating costs on 26,944 rentable square feet through July 31, 2005; Tenant represents that Tenant is obligated to pay net rent and taxes and operating costs on the remaining 3,667 rentable square feet through May 31, 2006. From and after the Commencement Date under this Lease (but no in any event earlier than February 1, 2005), Landlord agrees to pay Tenant’s monthly net rent and taxes and operating cost rent obligations for 30,611 rentable square feet under the Existing Lease for a period ending on July 31, 2005 and Tenant’s monthly net rent and taxes and operating cost obligations for 3,667 rentable square feet under the Existing Lease for a period ending on May 31, 2006. Landlord’s obligation to Tenant under this Paragraph is specifically limited to the specified amounts of net rent and tax and operating cost rent and shall not extend to any other obligation which may arise under the Existing Lease including, without limiting the generality of the foregoing, any costs associated with restoring a portion of the common corridor at Plymouth Xxxxx. The net rent portion of Landlord’s obligation under this Paragraph shall not exceed $251,642.00. Landlord may suspend payments under this Paragraph if Tenant fails to pay Rent under this Lease for one or more months.
Existing Lease Obligations. Provided this Lease remains in full force and effect, and Tenant is not in default hereunder (beyond any applicable cure period provided herein) (provided that in the event Landlord ceases making payments under this Section 53 as a result of any uncured default on the part of Tenant, Landlord shall resume such payments, including any payments “missed” during the period of Tenant’s uncured default, effective as of such time as Tenant cures the applicable default), Landlord will be solely liable to pay the then current rent (including base rent and all expenses and real estate tax pass throughs) of Tenant at 0000 Xxxxxxxxxx Xxxxx, XxXxxx, Virginia (the “Existing Lease”) from the Commencement Date through December 31, 2003 in an amount not to exceed $117,000.00 per month. As and when Landlord makes payments with respect to the Existing Lease pursuant to the provisions hereof, it shall simultaneously provide a copy of the payment check to Tenant. At the election of Landlord, Landlord shall have the right to (i) assume all payment obligations under the Existing Lease (subject to the monthly cap set forth above) with the Existing Lease remaining in place, (ii) make payment of the then current aggregate balance of the lease obligation under the Existing Lease as a one (1) time lump payment to the current landlord, Xxxxxxxx Properties (the “Existing Landlord”), or (iii) Landlord shall be entitled, subject to any Existing Landlord consent as may be required pursuant to the Existing Lease, to sublease from Tenant the premises demised under the Existing Lease at the cost shown above (upon which Landlord shall have the right to further sublease the demised premises under the Existing Lease). Landlord shall have the right to negotiate an early termination of the Existing Lease with the Existing Landlord (provided, however, that the effective date of such termination shall not take effect until Tenant takes occupancy of the Premises for the conduct of its business therefrom), on terms acceptable to Landlord, provided same includes a release of Tenant from any further liability pursuant to the Existing Lease; subject, however, to Tenant’s right to remain in the lower level space of 0000 Xxxxxxxxxx Xxxxx free of rent through December 31, 2003 (in which case any Existing Landlord’s release of Tenant pursuant to the Existing Lease shall not include non-monetary liability in connection with such lower level space). Notwithstanding the foregoing, if Landlord can reasonably de...
Existing Lease Obligations. On or before the Closing Date, (A) all Rent under the Existing Lease through the Closing Date has been paid in full, (B) Existing Lessee has met all its obligations under the Existing Lease that do not survive termination, and (C) the Existing Lease has been or will be terminated.
