Common use of Leasing of Property Clause in Contracts

Leasing of Property. Prior to the expiration of the Inspection Period, Seller shall deliver to Purchaser a copy of any new leases or modifications or extensions executed by Seller from and including the date hereof through the end of the Inspection Period, together with information as to any tenant improvement obligations and leasing commissions, and such other information as Purchaser may reasonably require. Such new leases or lease modifications and extensions shall be included in the definition of Leases and Purchaser shall be responsible to pay for all leasing commissions, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to such leases except that Seller shall pay a portion of such costs equal to the amount obtained by multiplying such costs by a fraction, the numerator of which is the number of days from the date the tenant under any such lease is obligated to commence rent payments through the Closing Date, and the denominator of which is the number of days in the term of such lease. After the expiration of the Inspection Period, Seller shall not enter into any lease for any portion of the Property or any cancellation, modification, extension or amendment to any Lease without first obtaining the prior consent of Purchaser, which consent shall not be unreasonably withheld. If Purchaser has not responded within five (5) business days of receipt of a written request by Seller, Purchaser's consent shall be deemed given. If Purchaser closes the transaction contemplated by this Agreement, Purchaser shall be responsible to pay for all leasing commission, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to any such lease approved by Purchaser. Seller agrees to pay any outstanding brokerage commissions now or hereafter due or payable with respect to the existing term of any Lease. Seller does not represent or warrant that any particular Lease will be in effect at Closing or that the tenant will have performed the tenant's obligations thereunder. The termination of any Lease prior to Closing by reason of a tenant's default will not affect the obligations of Purchaser under this Agreement in any manner, or entitle Purchaser to an abatement of or credit against the Purchase Price, or give rise to any other claim by Purchaser, and if any space in the Improvements is vacant on the Closing Date, Purchaser will accept the Premises subject to the vacancy.

Leasing of Property. Prior to the expiration of the Inspection Period, Seller shall at least five (5) days prior to Seller's execution thereof, deliver to Purchaser a copy of any new leases or modifications or extensions to be executed by Seller from and including the date hereof through the end of during the Inspection Period, together with information as to any tenant improvement obligations and leasing commissions, and such other information as Purchaser may reasonably require. Such Any such new leases or lease modifications and extensions executed by Seller during the Inspection Period shall be included in the definition of Leases and Purchaser shall be responsible to pay for all leasing commissions, commissions and tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred to be paid by Seller with respect to such leases except that Seller shall pay a portion of such costs equal to if Purchaser closes the amount obtained transaction contemplated by multiplying such costs by a fraction, the numerator of which is the number of days from the date the tenant under any such lease is obligated to commence rent payments through the Closing Date, and the denominator of which is the number of days in the term of such leasethis Agreement. After the expiration of the Inspection Period, Seller shall not enter into any lease for any portion of the Property or any cancellation, modification, extension or amendment to modification of any Lease without first obtaining the prior written consent of PurchaserPurchaser in each case, which consent shall not be unreasonably withheld. If Purchaser has not responded within five (5) business days of receipt of a written request by Seller, Purchaser's consent shall be deemed given. If Purchaser closes the transaction contemplated by this Agreement, Purchaser shall be responsible to pay for all leasing commission, commission or tenant improvement costs incurred or other costs and expenses (including reasonable attorneys' fees) to be incurred by Seller with respect to any such lease or lease modification approved by Purchaser. Seller agrees to pay any outstanding brokerage commissions now or hereafter due or payable with respect to the existing term of any Lease. Further, between the end of the Inspection Period and the Closing Date, Seller agrees that it shall not, without the prior written consent of Purchaser in each case, (i) renew or extend any Lease in any respect, or enter into an agreement with any tenant in the Property ("Tenant") in respect of the rent to be paid by such Tenant during any period of renewal or extension of such Tenant's Lease, except, in the case of any renewal or extension of a Lease, if (A) such renewal or extension is contained in such Lease and is described in the rent roll attached hereto as Exhibit C, and (B) the rent to be paid by such Tenant during the renewal or extension period is fixed by a formula in such Tenant's Lease and is not subject to negotiation between Seller and such Tenant, (ii) terminate any Lease, or accept a surrender of the leased premises thereunder, or (iii) agree to any request by a Tenant for permission to assign its Lease or sublet the leased premises thereunder. Except for any Seller Tenant Certificate executed by Seller and delivered to Purchaser, Seller does not represent or warrant that any particular Lease will be in effect at Closing or that the tenant will have performed the tenant's obligations thereunder. The termination of any Lease prior to Closing by reason of a tenant's default will not affect the obligations of Purchaser under this Agreement in any manner, or entitle Purchaser to an abatement of or credit against the Purchase Price, or give rise to any other claim by Purchaser, and if any space in the Improvements is vacant on the Closing Date, Purchaser will accept the Premises subject to the vacancy. Notwithstanding anything contained in this Paragraph 12 or elsewhere in this Agreement, (i) Seller shall have no obligation to conduct any ongoing leasing activity for the Property through the Closing Date and (ii) Purchaser shall be responsible for the costs set forth on Exhibit Q attached hereto.

Leasing of Property. Prior to the expiration of the Inspection Period, Seller shall deliver to Purchaser a copy of any new leases or modifications or extensions executed by Seller from and including the date hereof through the end of the Inspection Period, together with information as to any tenant improvement obligations and leasing commissions, and such other information as Purchaser may reasonably require. Such new leases or lease modifications and extensions shall be included in the definition of Leases and Purchaser shall be responsible to pay for all leasing commissions, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to such leases except that Seller shall pay a portion of such costs equal leases. Notwithstanding anything herein to the amount obtained by multiplying such contrary, Purchaser agrees that Purchaser's obligation to pay leasing costs by a fractionand expenses as described in the immediately preceeding sentence, shall also apply to the numerator of which is the number of days from leases executed prior to the date hereof to the tenant under any such lease is obligated to commence rent payments through the Closing Date, and the denominator of which is the number of days in the term of such leaseextent listed on Exhibit Q hereof. After the expiration of the Inspection Period, Seller shall not enter into any lease for any portion of the Property or any cancellation, modification, extension or amendment to any Lease without first obtaining the prior consent of Purchaser, which consent shall not be unreasonably withheld. If Purchaser has not responded within five (5) business days of receipt of a written request by Seller, Purchaser's consent shall be deemed given. If Purchaser closes the transaction contemplated by this Agreement, Purchaser shall be responsible to pay for all leasing commission, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to any such lease approved by Purchaser. Seller agrees to pay any outstanding brokerage commissions now or hereafter due or payable with respect to the existing term of any Lease. Seller does not represent or warrant that any particular Lease will be in effect at Closing or that the tenant will have performed the tenant's obligations thereunder. The termination of any Lease prior to Closing by reason of a tenant's default will not affect the obligations of Purchaser under this Agreement in any manner, or entitle Purchaser to an abatement of or credit against the Purchase Price, or give rise to any other claim by Purchaser, and if any space in the Improvements is vacant on the Closing Date, Purchaser will accept the Premises subject to the vacancy.

Leasing of Property. Prior to the expiration of the Inspection Period, Seller shall advise Purchaser of the terms of any new lease, modification of lease or extension of lease that Seller intends to execute at least three (3) business days prior to Seller's execution of the same and shall deliver to Purchaser a copy of any new leases or modifications or extensions executed by Seller from and including the date hereof through the end of the Inspection Period, together with information as to any tenant improvement obligations and leasing commissions, and such other information as Purchaser may reasonably require. Such Subject to the provisions of Paragraph 7.1 hereof, such new leases or lease modifications and extensions shall be included in the definition of Leases and Purchaser shall be responsible to pay for all leasing commissions, tenant improvement costs or other costs and expenses (including reasonable expenses, except for attorneys' fees) , incurred by Seller with respect to such leases except that Seller shall pay a portion of such costs equal to the amount obtained by multiplying such costs by a fraction, the numerator of which is the number of days from the date the tenant under any such lease is obligated to commence rent payments through the Closing Date, and the denominator of which is the number of days in the term of such leaseleases. After the expiration of the Inspection Period, Seller shall not enter into any lease for any portion of the Property or any cancellation, modification, extension or amendment to any Lease without first obtaining the prior consent of Purchaser, which consent shall not be unreasonably withheld. If Purchaser has not responded within five (5) business days of receipt of a written request by Seller, Purchaser's consent shall be deemed given. If Purchaser closes the transaction contemplated by this Agreement, Purchaser shall be responsible to pay for all leasing commission, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to any such lease approved by Purchaser. Seller agrees to pay any outstanding brokerage commissions now or hereafter due or payable with respect to the existing term of any Lease. Seller does not represent or warrant that any particular Lease will be in effect at Closing or that the tenant will have performed the tenant's obligations thereunder. The termination of any Lease prior to Closing by reason of a tenant's default will not affect the obligations of Purchaser under this Agreement in any manner, or entitle Purchaser to an abatement of or credit against the Purchase Price, or give rise to any other claim by Purchaser, and if any space in the Improvements is vacant on the Closing Date, Purchaser will accept the Premises subject to the vacancy. Notwithstanding anything contained in this Paragraph 12 or elsewhere in this Agreement, Seller shall have no obligation to conduct any ongoing leasing activity for the Property at any time through the Closing Date. Seller acknowledges that, after the date of this Agreement, Purchaser may conduct or join in preliminary discussions with prospective tenants regarding the leasing of portions of the Property after the Closing Date; provided that, any leasing discussed between Purchaser and any prospective tenants is expressly made contingent on the Purchase closing the transaction contemplated by this agreement and is absolutely non-binding upon Seller. Notwithstanding anything contained in this Paragraph 12 or elsewhere in this Agreement, Purchaser shall be responsible for the costs set forth on Exhibit N attached hereto.

Leasing of Property. Prior to the expiration of the Inspection Period, Seller shall advise Purchaser of the terms of any new lease, modification of lease or extension of lease that Seller intends to execute at least three (3) business days prior to Seller's execution of the same and shall deliver to Purchaser a copy of any new leases or modifications or extensions executed by Seller from and including the date hereof through the end of the Inspection Period, together with information as to any tenant improvement obligations and leasing commissions, and such other information as Purchaser may reasonably require. Such new leases or lease modifications and extensions shall be included in the definition of Leases and Purchaser shall be responsible to pay for all leasing commissions, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to such leases except that Seller shall pay a portion of such costs equal to the amount obtained by multiplying such costs by a fraction, the numerator of which is the number of days from the date the tenant under any such lease is obligated to commence rent payments through the Closing Date, and the denominator of which is the number of days in the term of such leaseleases. After the expiration of the Inspection Period, Seller shall not enter into any lease for any portion of the Property or any cancellation, modification, extension or amendment to any Lease without first obtaining the prior consent of Purchaser, which consent shall not be unreasonably withheld. If Purchaser has not responded within five (5) business days of receipt of a written request by Seller, Purchaser's consent shall be deemed given. If Purchaser closes the transaction contemplated by this Agreement, Purchaser shall be responsible to pay for all leasing commission, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to any such lease approved by Purchaser. Seller agrees to pay any outstanding brokerage commissions now or hereafter due or payable with respect to the existing term of any Lease. Seller does not represent or warrant that any particular Lease will be in effect at Closing or that the tenant will have performed the tenant's obligations thereunder. The termination of any Lease prior to Closing by reason of a tenant's default will not affect the obligations of Purchaser under this Agreement in any manner, or entitle Purchaser to an abatement of or credit against the Purchase Price, or give rise to any other claim by Purchaser, and if any space in the Improvements is vacant on the Closing Date, Purchaser will accept the Premises subject to the vacancy; provided, however, that if Seller terminates any Lease which covers 10,000 or more rentable square feet of space after the last day of the Inspection Period through the Closing Date, Purchaser shall have the right to terminate this Agreement by giving written notice of such termination to Seller at any time through the Closing Date. If Purchaser terminates this Agreement pursuant to the prior sentence, the Earnest Money deposited by Purcxxxxx xhall be immediately paid to Purchaser, together with any interest earned thereon, less the sum of One Hundred and No/100 Dollars ($100.00) which shall be paid to Seller in consideration for this Agreement and neither Purchaser nor Seller shall have any right, obligation or liability under this Agreement, except for those covenants and obligations which expressly survive the termination of this Agreement.

Leasing of Property. Prior to the expiration of the Inspection Period, Seller shall advise Purchaser of the terms of any new lease, modification of lease or extension of lease that Seller intends to execute at least three (3) business days prior to Seller's execution of the same and shall deliver to Purchaser a copy of any new leases or modifications or extensions executed by Seller from and including the date hereof through the end of the Inspection Period, together with information as to any tenant improvement obligations and leasing commissions, and such other information as Purchaser may reasonably require. Such Subject to the provisions of Paragraph 7.1 hereof, such new leases or lease modifications and extensions shall be included in the definition of Leases and Purchaser shall be responsible to pay for all leasing commissions, tenant improvement costs or other costs and expenses (including reasonable expenses, except for attorneys' fees) , incurred by Seller with respect to such leases except that Seller shall pay a portion of such costs equal to the amount obtained by multiplying such costs by a fraction, the numerator of which is the number of days from the date the tenant under any such lease is obligated to commence rent payments through the Closing Date, and the denominator of which is the number of days in the term of such leaseleases. After the expiration of the Inspection Period, Seller shall not enter into any lease for any portion of the Property or any cancellation, modification, extension or amendment to any Lease without first obtaining the prior consent of Purchaser, which consent shall not be unreasonably withheld. If Purchaser has not responded within five (5) business days of receipt of a written request by Seller, Purchaser's consent shall be deemed given. If Purchaser closes the transaction contemplated by this Agreement, Purchaser shall be responsible to pay for all leasing commission, tenant improvement costs or other costs and expenses (including reasonable attorneys' fees) incurred by Seller with respect to any such lease approved by Purchaser. Seller agrees to pay any outstanding brokerage commissions now or hereafter due or payable with respect to the existing term of any Lease. Seller does not represent or warrant that any particular Lease will be in effect at Closing or that the tenant will have performed the tenant's obligations thereunder. The termination of any Lease prior to Closing by reason of a tenant's default will not affect the obligations of Purchaser under this Agreement in any manner, or entitle Purchaser to an abatement of or credit against the Purchase Price, or give rise to any other claim by Purchaser, and if any space in the Improvements is vacant on the Closing Date, Purchaser will accept the Premises subject to the vacancy. Notwithstanding anything contained in this Paragraph 12 or elsewhere in this Agreement, Seller shall have no obligation to conduct any ongoing leasing activity for the Property at any time through the Closing Date. Seller acknowledges that, after the date of this Agreement, Purchaser may conduct or join in preliminary discussions with prospective tenants regarding the leasing of portions of the Property after the Closing Date; provided that, any leasing discussed between Purchaser and any prospective tenants is expressly made contingent on the Purchase closing the transaction contemplated by this agreement and is absolutely non-binding upon Seller.