Leasing Commissions and Leasing Costs. (a) Transferors shall be responsible for all unpaid leasing and brokerage commissions and tenant improvement costs with respect to the current term of all Leases executed prior to the date hereof except for the Leases identified on Schedule 3.1(f) as those for which the JV shall be responsible (collectively, “Scheduled JV Leases”). To the extent that any accrued commissions or tenant improvement costs with respect to the initial terms of such Leases (other than Scheduled JV Leases and Section 4.4 Leases (as hereinafter defined)) shall not have been paid by Transferors prior to Closing (the “Unfunded Leasing Expenses”), the Property Owning Subsidiaries shall be entitled to a credit at Closing in an amount equal to the Unfunded Leasing Expenses, and the Property Owning Subsidiaries shall (to the extent of such credit) be responsible for payment of the Unfunded Leasing Expenses from and after the Closing and shall indemnify Transferors with respect thereto.
(b) With respect to (i) any Scheduled JV Leases and (ii) any Lease or Lease modification entered into by Transferors after the date hereof in accordance with the terms of Section 4.4 (collectively, “Section 4.4 Leases”), and (iii) any renewal, expansion or extension of any Lease through the exercise after the date hereof of an existing option set forth in an existing Lease (subject to Section 1.8(c) hereof), all tenant improvement work, leasing commissions, legal fees or other expenses or grants of any free rent period or other concessions shall be paid (or reimbursed to Transferors at Closing) by the JV, provided that with respect to the initial term of any Section 4.4 Lease (a “Replacement Lease”) that replaces a Lease in effect on the date hereof which is terminated or expires prior to Closing, Unfunded Leasing Expenses shall be borne by Transferors.
Leasing Commissions and Leasing Costs. Seller shall be responsible for and shall pay at or before Closing, or shall escrow at Closing with Escrow Agent under escrow instructions reasonably acceptable to Purchaser, all leasing commissions and tenant improvement costs or allowances therefor due and payable by the landlord with respect to Leases executed prior to the Effective Date, including without limitation, any leasing commissions earned but deferred as to payment and commissions, tenant improvements or other leasing costs payable for lease renewals or extensions that a tenant has exercised under its existing Lease prior to the Effective Date. Purchaser shall be responsible for all leasing commissions and tenant improvement costs or allowances therefor attributable to any new leases executed after the Effective Date and the renewal or expansion of any existing Lease exercised by the tenant or otherwise entered into after the Effective Date. If Seller has, prior to the Closing, paid any leasing commissions or other leasing costs which are Purchaser’s responsibility hereunder, Seller will receive a credit for same from Purchaser at the Closing.
Leasing Commissions and Leasing Costs. (a) Sellers shall be responsible for all Leasing Costs with respect to (i) the current term of all Leases executed prior to the date hereof and (ii) all Required Leases, in each case to the extent set forth on Schedule 4.1(j)(iv) (collectively, “Seller Leasing Costs”).
(b) Purchaser shall be responsible for the obligation to pay all Leasing Costs (i) for all New Leases (other than Required Leases which are specifically identified as Seller obligations on Schedule 4.1(j)(iv)) executed after the date hereof with Purchaser’s consent to the extent required hereunder, (ii) any extension, renewal or expansion of existing Leases (other than Required Leases which are specifically identified as Seller obligations on Schedule 4.1(j)(iv), and (iii) those leases which are specifically identified as Purchaser obligations on Schedule 4.1(j)(iv) (collectively, “Purchaser Leasing Costs”). If, prior to the Closing, Seller has paid any Purchaser Leasing Costs, the prorations at the Closing shall include a credit to Seller in an amount equal to the Purchaser Leasing Costs paid by Seller. If, as of the Closing, there remain any unpaid or outstanding Seller Leasing Costs, Purchaser shall be responsible to pay such unpaid Seller Leasing Costs, and the prorations at the Closing shall include a credit to Purchaser in an amount equal to all such unpaid Seller Leasing Costs.
Leasing Commissions and Leasing Costs. Seller shall be responsible for all leasing and brokerage commissions with respect to the current lease terms of Leases executed prior to the Effective Date. There are no leasing commission agreements which affect the Property except for those commission agreements described on Exhibit B-1 which is a complete list of the commission agreements that affect the Property (the “Brokerage Agreements”).
Leasing Commissions and Leasing Costs. Seller shall be responsible for all leasing commissions and other leasing costs due and payable prior to the Effective Date with respect to Leases executed prior to the Effective Date. Purchaser shall be responsible for all leasing commissions and other leasing costs attributable to any new leases or the renewal or expansion of any existing Lease after the Effective Date and/or due and payable with respect to any existing Lease (including the Lease with Centene) after the Closing. If Seller has, prior to the Closing, paid any leasing commissions or other leasing costs which are Purchaser's responsibility hereunder, Seller will receive a credit for same from Purchaser at the Closing.
Leasing Commissions and Leasing Costs. Except as set forth in the last sentence of this Section 4.2.6, Seller shall be responsible for those leasing and brokerage commissions and other leasing costs (including, without limitation, tenant improvement costs, required capital improvements, free rent credits and holdover rents) (i) for which Seller is the responsible party as set forth on Exhibit O hereto and (ii) arising after the Feasibility Period but prior to Closing to the extent that such obligations do not relate to Approved New Leases (as hereinafter defined). Provided that Closing occurs, Purchaser shall be responsible for all other leasing and brokerage commissions and other leasing costs (including, without limitation, leasing commissions, tenant improvement costs, required capital improvements and free rent credits arising in connection with expansions and extensions exercised by a tenant after the Effective Date and all other leasing commissions, tenant improvement costs, required capital improvements, free rent credits and holdover rents), including those for which Purchaser is the responsible party as set forth on Exhibit O hereto. With respect to the unfunded $177,200.00 tenant improvement costs associated with the 7,088 square feet of space leased to Brandywine Asset Management effective as of November 11, 1996, Seller shall pay such amount to Purchaser upon receipt by Seller of notice from Purchaser that Brandywine Asset Management has requested such payment from Purchaser.
Leasing Commissions and Leasing Costs. Seller shall be responsible for all Lease Expenses (defined below) accrued as of the applicable Closing Date, other than with respect to Approved New Leases. Provided that Closing occurs, Purchaser shall be responsible for all other Lease Expenses relating to existing options in the Leases that have not been exercised as of the Closing Date and new leases, extensions, expansions and modifications executed after the Effective Date. The term “Lease Expenses” as used herein means, collectively, any and all leasing commissions, tenant improvements, allowances, free rent or a rent credit and lease buyout costs and expenses arising out of or in connection with any Leases for space at the Properties. Lease Expenses shall include, without limitation, (a) brokerage commissions and fees payable pursuant to a commission agreement or Lease to effect any such leasing transaction (including, without limitation, any fees owed to an affiliated or third-party property manager or leasing agent), (b) expenses incurred for repairs, improvements, equipment, painting, decorating, partitioning and other items to satisfy the requirements of the applicable document between Seller and the tenant, and (c) expenses incurred for the purpose of satisfying or terminating the obligations of a Tenant under a new Lease to the landlord under a lease of other space (whether or not such other lease covers space in any Property).
Leasing Commissions and Leasing Costs. Seller shall be responsible for all leasing commissions and other leasing costs due and payable prior to the Effective Date with respect to Leases executed prior to the Effective Date. Purchaser shall be responsible for all leasing commissions and other leasing costs attributable to any new leases or the renewal or expansion of any existing Lease but only to the extent such new lease, renewal or expansion has been signed or exercised after the Effective Date. If Seller has, prior to the Closing, paid any leasing commissions or other leasing costs which are Purchaser’s responsibility hereunder, Seller will receive a credit for same from Purchaser at the Closing. Purchaser shall have no obligation to pay for any leasing commissions in connection with the initial terms of the existing Leases.
Leasing Commissions and Leasing Costs. Seller shall be responsible for all leasing commissions, tenant improvement costs and other usual and customary leasing costs, due and owing with respect to the current term of all Leases executed prior to the Effective Date, whether such leasing commissions, tenant improvement costs and other usual and customary leasing costs are due to be paid prior to or after the Closing Date.
Leasing Commissions and Leasing Costs. Buyer shall be responsible for all leasing commissions and other leasing costs attributed to any New Leases approved by Buyer and executed after the Effective Date and/or due and payable with respect to any existing Lease after the Closing. If Seller has, prior to the Closing, paid any leasing commissions or other leasing costs which are Buyer’s responsibility hereunder, Seller will receive a credit for same from Buyer at the Closing. -13- 000 X. Xxxxxxxxx Xxxxx Xxxxxxx, XX
