LEASING OF THE PROPERTY AFTER THE CLOSING Sample Clauses

LEASING OF THE PROPERTY AFTER THE CLOSING. For at least one (1) year after the Closing, which term shall be automatically extended for successive one-year terms so long as the Master Agreement (as defined below) remains in effect, the Reconstituted Partnership shall engage an Affiliate(s) of either Seller (the "Leasing Agent") to act as the Reconstituted Partnership's exclusive leasing agent for the Property, and the Leasing Agent shall receive market based leasing commissions (which shall be 50% of what is paid to a non-affiliated broker, and, if no non-affiliated broker is involved in the transaction, 100% of what would have been payable to a non-affiliated broker); pursuant to a mutually acceptable leasing agreement (the "Leasing Agreement") to be entered into by the Reconstituted Partnership at Closing. The parties agree that market based leasing commissions are: 6% of rent payable during the first lease year, 5% of rent payable during the second lease year, 4% of rent payable during the third lease year, 3% of rent payable during each lease year thereafter through the tenth lease year, and 1.5% of rents payable during each year thereafter. For purposes of the foregoing: (a) in calculating the commission payable for an extension of a lease, "lease years" shall be the years since commencement of such lease, and not since commencement of the extension; and (b) in calculating leasing commissions there shall be excluded from rents the allocable portion of the landlord's share of the costs of above standard laboratory improvements, plus interest thereon at a reasonable rate. In addition to the foregoing terms and conditions, the Leasing Agreement shall include the following terms and conditions: (i) Leasing Agent, from time to time, shall have the right to lease space in the Property (including, without limitation, any expansion or extension of any then-existing lease) to one or more tenants (including, without limitation, Centocor) (each, a "Subject Lease") on market terms (provided, however, that Leasing Agent shall have the right to lease space on below market terms with respect to the period ending at the end of the forty-second (42nd) full calendar month after the Closing Date) pursuant to a lease form that is reasonably acceptable to the Reconstituted Partnership, with such modifications as are reasonably acceptable to the Reconstituted Partnership; (ii) the Reconstituted Partnership shall be responsible for all Leasing Costs provided, however, that Sellers shall pay fifty percent (50%) of all...
Sample 1
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Related to LEASING OF THE PROPERTY AFTER THE CLOSING

  • After the Closing Date Buyer shall accept payment of all accounts receivable in the normal course of conducting the Business. Upon payment of any amounts from Delinquent Members, Buyer shall credit such payment first to the amounts owed by such Delinquent Member indicated on the Seller Receivable List, and then for Buyer's account.

  • Operations Prior to the Closing Date (a) Seller shall use its commercially reasonable efforts to, and to cause the Companies to, operate and carry on the Business in the ordinary course and substantially as operated immediately prior to the date of this Agreement. Consistent with the foregoing, Seller shall use its commercially reasonable efforts, and shall cause the Companies to use their commercially reasonable efforts, consistent with good business practice, to preserve the goodwill of the suppliers, contractors, licensors, employees, customers, distributors and others having business relations with the Business.

  • Termination Prior to Closing This Agreement may be terminated at any time prior to the Closing:

  • After Closing Seller and Buyer shall execute, acknowledge and deliver or cause to be executed, acknowledged and delivered, such instruments and take such other action as may be necessary or advisable to carry out their obligations under this Agreement and under any document, certificate or other instrument delivered pursuant hereto.

  • Conditions Precedent to the Closing Date The obligation of the Lenders to execute this Agreement and make any requested Loans on the Closing Date is subject to the prior satisfaction of each of the following conditions (unless waived in writing by Administrative Agent with the consent of the Lenders):

  • Cooperation Following the Closing Following the Closing, each Party shall deliver to the other Parties such further information and documents and shall execute and deliver to the other Parties such further instruments and agreements as any other Party shall reasonably request to consummate or confirm the transactions provided for herein, to accomplish the purpose hereof or to assure to any other Party the benefits hereof.

  • Cooperation After Closing From and after the Closing Date, each of the parties hereto shall execute such documents and other papers and take such further actions as may be reasonably required or desirable to carry out the provisions hereof and the transactions contemplated hereby.

  • After the Closing Buyer and Seller shall execute and deliver, or shall cause to be executed and delivered from time to time, such further instruments of conveyance and transfer, and shall take such other actions as any party may reasonably request, to convey and deliver the Assets to Buyer, to perfect Buyer’s title thereto, and to accomplish the orderly transfer of the Assets to Buyer in the manner contemplated by this Agreement. If any party hereto receives monies belonging to the other, such amount shall immediately be paid over to the proper party. If an invoice or other evidence of an obligation is received by a party, which is partially an obligation of both Seller and Buyer, then the parties shall consult with each other, and each shall promptly pay its portion of such obligation to the obligee.

  • Following the Closing Seller shall permit Buyer and its representatives (including, without limitation, their counsel and auditors), during normal business hours, to have reasonable access to, and examine and make copies of, all books and records of Seller and its Affiliates relating to the Hospital, which books and records, are retained by Seller and which relate to transactions or events contemplated by this Agreement occurring prior to the Closing, to the maximum extent permitted by law. For a period of three (3) years after the Closing, Seller agrees that, prior to the destruction or disposition of any such books or records, Seller shall provide not less than forty-five (45) days', nor more than ninety (90) days' prior written notice to Buyer of such proposed destruction or disposal. If Buyer desires to obtain any such documents, it may do so by notifying Seller in writing at any time prior to the date scheduled for such destruction or disposal. In such event, Seller shall not destroy such documents and the parties shall then promptly arrange for the delivery of such documents to Buyer, its successors or assigns. All out-of-pocket costs associated with the delivery of the requested documents shall be paid by Buyer.

  • Mail Received After Closing Following the Closing, Apple may receive and open all mail addressed to the Seller that Apple believes relates to the Business and, to the extent that such mail and the contents thereof relate to the Business or the Acquired Assets, deal with the contents thereof in its discretion, and to the extent that it does not relate thereto, shall promptly deliver same to Seller.

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