Common use of Leasing Fee Clause in Contracts

Leasing Fee. When Agent is the only real estate agent responsible for causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent as compensation for the leasing services rendered under this Agreement, an amount equal to four percent (4%) of the total rent payable under the lease (the “Leasing Fee”). (For the purposes of this Section 3.01, the term “total rent payable under the lease” shall mean only the rent payable under the lease and shall not include additional charges such as common area maintenance charges, tax charges, insurance charges or other charges generally know as additional rent.) When there is another real estate agent who represents a tenant and together with the Agent is responsible for causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent a Leasing Fee of six percent (6%), and Agent shall be responsible for compensating the other agent. Agent shall be paid a Leasing Fee of two percent (2%) or an amount equal to $2.00 per square foot of the tenant’s space, whichever is greater, when an existing tenant renews its lease. Existing tenant’s lease negotiations shall be handled by Owner.

Leasing Fee. When Agent is the only real estate agent responsible for causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent as compensation for the leasing services rendered under this Agreement, an amount equal to four percent (4percent(4%) of the total rent payable under the lease (the “Leasing Fee”). (For the purposes of this Section 3.01, the term “total rent payable under the lease” shall mean only the rent payable under the lease and shall not include additional charges such as common area maintenance charges, tax charges, insurance charges or other charges generally know as additional rent.) When there is another real estate agent who represents a tenant and together with the Agent is responsible for causing a tenant to execute a lease for space in the Shopping Center, Owner shall pay to Agent a Leasing Fee of six percent (6%), and Agent shall be responsible for compensating the other agent. Agent shall be paid a Leasing Fee of two percent (2%) or an amount equal to $2.00 per square foot of the tenant’s space, whichever is greater, when an existing tenant renews its lease. Existing tenant’s lease negotiations shall be handled by Owner.