Lease Restructuring Consideration Sample Clauses

Lease Restructuring Consideration. Concurrently with the full execution of this Agreement, the parties agree to the following: (a) Tenant will remit to Landlord's lender the sum of $2,915,220.40 in cash in consideration of said lender's consent to this Agreement; (b) Tenant consents to the release of $285,018.60 currently held as cash security for the Lease to Landlord's lender, also in consideration for said lender's consent hereto; and (c) upon receipt of the aforementioned sums, Landlord will cause Landlord's lender, with the consent of Tenant, which is given hereby, to return to Tenant uncashed a Letter of Credit in the aggregate face amount of $600,000.00 issued by Imperial Bank (now Comerica Bank), which is currently being held by Landlord's lender as security for this Lease. The parties will deal with the other Letter of Credit on Imperial Bank in favor of Landlord's lender as set forth in Paragraph 10. Upon return of the $600,000.00 Letter of Credit, Landlord and its lender shall not have to account further to Tenant for this Letter of Credit or the released cash security, and such shall no longer be deemed to be security for this Lease. This Agreement shall be of no force or effect unless collected funds in the aforementioned amounts are remitted to Landlord's lender.
Sample 1
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Lease Restructuring Consideration. The parties agree that upon the Termination Date (a) Tenant shall and hereby does consent to the immediate release of the Security Deposit to Landlord’s lender, in consideration of lender’s consent to the transactions contemplated by this Agreement, (b) Tenant will immediately remit directly to Landlord’s lender the sum of Six Million Two Hundred Seventy Seven Thousand Dollars ($6,277,000), less the amount of any net rental payments made by Tenant to Landlord during calendar year 2003 after deducting amounts due to Tenant from the Subtenant for the corresponding period under the Sublease (collectively, the “Settlement Payments”). Landlord and Tenant acknowledge that as of the date of this Agreement, the total amount to be remitted by Tenant pursuant to subparagraph (b) immediately above, is Six Million One Hundred Fifty One Thousand Dollars ($6,151,000). In addition, concurrently with the making of the Settlement Payments, Tenant shall remit to Landlord all amounts owing pursuant to Paragraph 11(i), below. The present value of Tenant’s future Rent obligations under the Lease significantly exceeds the aggregate of the amounts set forth in (a) and (b) above.
Sample 1

Related to Lease Restructuring Consideration

  • Adjustments to Merger Consideration The Merger Consideration shall be adjusted to reflect fully the effect of any reclassification, stock split, reverse split, stock dividend (including any dividend or distribution of securities convertible into Company Common Stock), reorganization, recapitalization or other like change with respect to Company Common Stock occurring (or for which a record date is established) after the date hereof and prior to the Effective Time.

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

  • Transaction Consideration The Transaction Consideration;

  • Adjustment to Merger Consideration The Merger Consideration shall be adjusted appropriately to reflect the effect of any stock split, reverse stock split, stock dividend (including any dividend or distribution of securities convertible into Common Stock), cash dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to Common Stock occurring on or after the date hereof and prior to the Effective Time.

  • 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

  • Restructuring Fee The Borrowers shall pay to the Agent a restructuring fee of $225,000, for distribution to the Original Lenders according to their respective Commitment, not later than the Voluntary Prepayment Date.

  • 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).

  • 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.

  • 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.

  • 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.

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