Leasing Fees. The Company will pay to the Leasing Agent a leasing fee (the “Leasing Fee”) in an amount equal to the leasing fees charged by unaffiliated persons rendering comparable services in the same geographic location of the applicable Property for the Leasing Agent’s or a Sub-Agent’s, as applicable, services in leasing the Properties to third parties, which shall include taking into account the participation of Cooperating Brokers (as defined below), if applicable, and be determined based on evidence of comparable fees provided by the Leasing Agent and shall include taking into account the participation of Cooperating Brokers (as defined below), if applicable, and be subject to consent of the Owner, such consent not to be unreasonably withheld. Commissions shall be fully earned as of the date the lease is executed and shall be paid by the Company, or in the sole discretion of the Leasing Agent, by the Owner, on such date or, if customary for such geographic area then as follows: one half (1/2) of the commission shall be due upon execution of the lease by the Owner and tenant and one half (1/2) of the commission shall be due upon the earlier of (i) tenant’s opening for business at the premises, or (ii) the rent commencement date under the lease.
Appears in 6 contracts
Samples: Leasing Agreement (American Finance Trust, Inc), Leasing Agreement, Leasing Agreement (American Realty Capital - Retail Centers of America II, Inc.)
