Existing TI Obligations. If, by Closing, Seller has not completed and paid in full Existing TI Obligations, then Purchaser shall receive a credit for such remaining costs as reasonably agreed by Purchaser and Seller, and Purchaser shall be responsible for completing and paying such Existing TI Obligations.
Existing TI Obligations. If, by Closing, Seller has not completed and paid in full Existing TI Obligations, then such costs as reasonably agreed by Buyer and Seller shall be withheld from the Purchase Price at Closing, placed in an escrow with the Title Company pursuant to an escrow agreement in form and substance reasonably satisfactory to Seller and Buyer, and Buyer shall be responsible for completing and paying such Existing TI Obligations. Any funds held in the escrow shall be released to Buyer without any requirement for the consent of Seller and shall be used by Buyer to pay or otherwise satisfy such Existing TI Obligations as and when the same become due and payable. If there are any funds remaining in the escrow after payment of such Existing TI Obligations, such excess shall be paid to Seller; but if the amount in escrow is insufficient for such purpose, Seller shall pay such deficiency to the party to whom the same is owed as and when the same becomes due and payable.
Existing TI Obligations. If, by Closing, Transferor has not completed and paid in full Existing TI Obligations, then Transferee shall receive a credit at Closing for an amount equal to one hundred percent (100%) of such costs, as reasonably agreed by Transferee and Transferor. Transferee shall be responsible for completing and paying such Existing TI Obligations. For all sums for which Transferee receives a credit hereunder, Transferee shall account (or the parties shall cause the property manager under the Property Management Agreement to account) for all invoices within sixty (60) days following Closing. Any portion of such credit not used to pay Transferor’s portion of any invoices shall be refunded to Transferor at the expiration of this sixty (60) day period. A proration accounting shall also be delivered to Transferor with any refund. Any shortfall shall be paid to Transferee by Transferor upon demand.
Existing TI Obligations. If, by Closing, Seller has not paid in full the Existing TI Obligations, then the costs attributable thereto shall be credited against the Purchase Price at Closing and Purchaser shall be responsible for payment of the costs and expenses incurred to complete such Existing TI Obligations. If such credit exceeds the actual costs of completing such Existing TI Obligations, then Purchaser shall promptly pay such excess to Seller when such excess is determined after Closing. If such credit is insufficient for such purpose, then Seller shall promptly reimburse Purchaser for such deficiency after Closing upon receipt of an invoice therefor, together with reasonable supporting documentation. The parties’ obligations under this provision shall survive Closing.
Existing TI Obligations. Borrower hereby represents and warrants to the Collateral Agent and the Lenders that, except as set forth in Schedule 1.1(C), there are no unpaid tenant improvement allowances owing in connection with any leases or tenancies in effect at the Project as of the Closing Date. Borrower hereby further represents and warrants to the Collateral Agent and the Lenders that there are no leasing commissions owing in connection with any leases or tenancies in effect at the Project as of the Closing Date.
Existing TI Obligations. 77 WWLP shall pay all TI Obligations that are specified as obligations of 77 WWLP in Appendix 6.10(a) attached hereto and incorporated herein to the obligee of such TI Obligations as and when the same are due.
Existing TI Obligations. If, by the Adjustment Date, Seller has not completed and paid in full Existing TI Obligations, then such costs as reasonably agreed by Buyer and Seller shall be credited against the Purchase Price at Closing, and Buyer shall be responsible for completing and paying such Existing TI Obligations.
Existing TI Obligations. If, by Closing, Seller has not completed and paid in full Existing TI Obligations, then such unpaid costs shall be credited to Purchaser at Closing in the maximum amount of such costs, subject to refund by Purchaser if such amounts are not fully paid to or utilized by the applicable tenant. After Closing, Purchaser shall be responsible for completing and paying for such Existing TI Obligations.
Existing TI Obligations. If, by Closing, Seller has not completed and paid in full Existing TI Obligations, then such costs as reasonably agreed by Purchaser and Seller shall be withheld from the Purchase Price at Closing, placed in an escrow with the Title Company, and Purchaser shall be responsible for completing and paying such Existing TI Obligations. Any funds held in the escrow shall be released to Purchaser without any requirement for the consent of Seller and shall be used by Purchaser to pay the landlord's share of such tenant improvements and allowances. If there are any funds remaining in the escrow after payment of such Existing TI Obligations, such excess shall be paid to Seller; but if the amount in escrow is insufficient for such purpose, Seller shall reimburse Purchaser for such deficiency upon demand. Alternatively, if landlord's obligation is a fixed amount or capable of exact quantification, Purchaser may elect as to any such Existing TI obligations to receive a credit, equal to the landlord's obligation in respect of same, without any obligation to place such funds in escrow, and Purchaser shall assume landlord's responsibility for such Existing TI Obligations.
Existing TI Obligations. As to any tenant improvement obligation ----------------------- arising under any Space Leases relating to the Office Projects other than with respect to renewal or expansion rights under such Space Leases relating to the Office Projects properly exercised after the date of this Agreement (collectively, "Existing TI Obligations"), which has not been completed and paid in full as of the Closing Date, such costs as reasonably agreed by Operating Partnership and Contributor shall be withheld from the Exchange Amount at Closing, placed in an escrow with the Title Company, and Operating Partnership shall be responsible for completing and paying such Existing TI Obligations. Any funds held in the escrow shall be released to Operating Partnership without any requirement for the consent of Contributor and shall be used by Operating Partnership to pay the landlord's share of such tenant improvements and allowances.
