Common use of Leasing and Tenant Matters Clause in Contracts

Leasing and Tenant Matters. Borrower shall comply with the terms and conditions of Exhibit “D” in connection with the leasing of space within the Improvements. In addition, Borrower shall deposit with Administrative Agent on the date of Borrower’s receipt thereof any and all termination fees or other similar funds in excess of $250,000.00 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise (the “Termination Fee Deposit”). The Termination Fee Deposit shall be deposited into an interest-bearing account maintained with Administrative Agent for the benefit of Borrower. Administrative Agent shall make the Termination Fee Deposit available to reimburse Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property which shall be disbursed in accordance with the terms and conditions of Exhibit “C-1” attached hereto. After a vacated space has been re-leased to another tenant, any amounts remaining under the Termination Fee Deposit shall, at Borrower’s election, be returned to Borrower or be applied to repay a portion of the outstanding balance of the Loan. If a Default has occurred and is continuing, then Administrative Agent shall have the option to apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 1.5 of this Agreement. Notwithstanding the foregoing, so long as no Default or Potential Default has occurred and is continuing, Administrative Agent shall, after any Release Pad has been released pursuant to Section 9.29 hereof, refund to Borrower all Termination Fee Deposits applicable to any Improvements situated on such Release Pad.

Leasing and Tenant Matters. Each Borrower shall comply with the terms and conditions of Exhibit “D” in connection with the leasing of space within the ImprovementsImprovements of such Borrower. In addition, each Borrower shall deposit with Administrative Agent on the date of Borrower’s receipt thereof any and all termination fees or other similar funds in excess of $250,000.00 1,000,000.00 paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise (the “Termination Fee Deposit”). The Termination Fee Deposit shall be deposited into an interest-bearing account maintained with Administrative Agent for the benefit of BorrowerBorrowers. Administrative Agent shall make the Termination Fee Deposit available to reimburse the applicable Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property of such Borrower which shall be disbursed in accordance with the Administrative Agent’s reasonable customary terms and conditions relating to the disbursement of Exhibit “C-1” attached heretotenant improvement costs and leasing commissions under loans made or administered by Administrative Agent. After a vacated space has been re-leased to another tenant, any amounts remaining under the Termination Fee Deposit shall, at the Borrower’s election, be returned to the Borrower or be applied to repay a portion of the outstanding balance of the Loan. If a Default has occurred and is continuing, then Administrative Agent shall have the option to apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 1.5 of this Agreement. Notwithstanding the foregoing, so long as no Default or Potential Default has occurred and is continuing, Administrative Agent shall, after any Release Pad Property has been released pursuant to Section 9.29 hereof, refund to Borrower all Termination Fee Deposits applicable to any Improvements situated on such Release PadProperty to the Borrower which is the owner of such Property.

Leasing and Tenant Matters. Borrower shall comply with the terms and conditions of Exhibit “D” in connection with the leasing of space within the Improvements. In addition, Borrower shall deposit with Administrative Agent on the date of Borrower’s receipt thereof any and all termination fees or other similar funds in excess of Two Hundred Fifty Thousand Dollars ($250,000.00 250,000.00) paid by a tenant in connection with such tenant’s election to exercise an early termination option contained in its respective Lease or otherwise (the “Termination Fee Deposit”). The Termination Fee Deposit shall be deposited into an interest-bearing account maintained with Administrative Agent for the benefit of Borrower. Administrative Agent shall make the Termination Fee Deposit available to reimburse Borrower for Tenant Improvements and Leasing Commissions paid with respect to reletting the vacated space at the Property which shall be disbursed in accordance with the terms and conditions of Exhibit “C-1C-2” attached hereto. After a vacated space has been re-leased to another tenant, any amounts remaining under the Termination Fee Deposit shall, at Borrower’s election, be returned to Borrower or be applied to repay a portion of the outstanding balance of the Loan. If a Default has occurred and is continuing, then Administrative Agent shall have the option to apply the Termination Fee Deposit to repay a portion of the outstanding principal balance of the Loan in accordance with Section 1.5 of this Agreement. Notwithstanding the foregoing, so long as no Default or Potential Default has occurred and is continuing, Administrative Agent shall, after any Release Pad Parcel has been released pursuant to Section 9.29 hereof, refund to Borrower all Termination Fee Deposits applicable to any Improvements situated on such Release PadParcel.