Froggers Sample Clauses

Froggers. Buyer and Seller acknowledge that Seller is currently in the process of negotiating with Froggers Restaurant for the lease of space in the Real Property. Buyer hereby agrees that, to the extent the conditions hereinafter set forth with respect to any lease to Froggers Restaurant are satisfied within six months after the date of closing, then an additional payment will be due from Buyer to Seller in an amount equal to the Effective Gross Income produced under the Froggers lease (in an amount up to, but not exceeding $11 per rentable square foot, plus operating expense reimbursement recoveries), divided by a capitalization rate of 12.5%, less an amount equal to the sum of: (A) one-third of the first $150,000 of Buyer's cost of constructing tenant improvements to the Froggers Restaurant space; plus (B) 100% of all such tenant improvement costs in excess of $150,000.
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