Rent Ready Units Clause Samples

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Rent Ready Units. Between the Effective Date and Closing, Seller will cause vacant rental units at the applicable Real Property (each a “Vacant Unit” and collectively the “Vacant Units”) to be “made ready” for reletting and occupancy in accordance with Seller’s current standards and timetable for turning units over. Seller has no obligation to have all of the Vacant Units “made ready” as of the applicable Closing Date, but only those Vacant Units that would have been “made ready” in the ordinary course of business. If any Vacant Unit has been vacant for more than ten (10) days prior to the Closing Date and such Vacant Unit is not in move-in condition as of the Closing Date (based upon the condition of other apartments leased at the Property prior to the Closing Date), then Buyer shall receive a credit at Closing in an amount equal to Five Hundred and No/100 Dollars ($500.00) for each such Vacant Unit.
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Rent Ready Units. Seller agrees that, at Closing, Purchaser shall receive a credit against the Purchase Price for the Property in an amount equal to the product of (a) the number of Tenant Units on the date which is 7 days prior to the Closing Date which are vacant and not in Rent-Ready Condition, and (b) $400.00.
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Rent Ready Units. Owner acknowledges that it is the Manager's stated business policy to offer for rent only units in Rent Ready Condition. Rent Ready Condition means that the unit is habitable under applicable law, clean according to Manager’s standards, that all amenities are in working order and that the unit has been re-keyed, at Owner’s expense, since the prior tenant. Owner agrees to reference the Rental Preplist for details on approved conditions of Rent Ready Conditions.
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Rent Ready Units. Seller agrees to make Rent-Ready all apartment units at the Property which become vacant five (5) or more business days prior to the Closing, and to credit Purchaser at Closing in the amount of $500 for each apartment unit at the Property which is vacant on the Closing Date and which was previously occupied and has been vacant for five (5) or more business days prior to the Closing Date, and which has not been made Rent-Ready, provided that Purchaser shall notify Seller at least one (1) day prior to Closing of any units which Purchaser believes are not in Rent-Ready condition. “Rent-Ready” shall mean all those apartment units that are vacant at the Closing shall be in rentable condition and equipped with appliances installed, maintenance shall be performed, all walls shall be repainted, and all carpet shall be professionally steam cleaned or replaced as necessary, and shall be in condition consistent with customary industry standards for similar first class properties in which institutional apartment owners deliver apartment units to new tenants.
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Rent Ready Units. At Closing, Buyer shall receive a credit to the Consideration in an amount equal to $750.00 for each unit that was vacant more than 5 days prior to the Closing Date, and that is not in “Rent Ready Condition” as of the Closing Date. “Rent Ready Condition” shall mean the condition in which vacated apartments units are made at the Property in accordance with Seller’s standard practice.
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Rent Ready Units. At Closing, each unit at the Property vacated five or more days before the Closing must be in rent-ready condition at the Closing or Buyer will receive a credit at Closing equal to $1,000.00 per unit that is not in such rent-ready condition. Buyer and Seller will conduct a joint walk through of the Property before Closing and complete a list of all such units that are not in rent-ready condition.
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Rent Ready Units. Seller shall, at its sole cost and expense, use commercially reasonable efforts to cause all units at the Property that have been vacated prior to the date which is five (5) Business Days prior to the Closing to be in rent ready condition at the Closing in a manner generally consistent with the manner in which Seller prepares vacated apartments for rent ready condition prior to the date hereof, and, with respect to any such unit that is not rent ready on the date that is one (1) Business Day prior to the Pre-Closing Date, Purchaser shall be entitled to receive a credit against the Purchase Price in the amount of $750.00 per such vacant unit that is not in rent-ready condition.
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Rent Ready Units. All unoccupied tenant units (a “Unit”) as of the Closing Date shall be delivered to Buyer in Rent Ready condition at the Closing. A Unit shall be “Rent Ready” if its condition is consistent with the condition of Units currently being marketed to and accepted for rental by tenants. Buyer and Seller (or their designated representatives) shall conduct a walk-through of the unoccupied Units within five (5) Business Days prior to the Closing to determine if any Units are not Rent Ready. Buyer shall receive a credit on the Settlement Statement at the Closing equal to Seven Hundred Fifty and No/100 Dollars ($750.00) per Unit that is reasonably determined by the parties to be not Rent Ready.
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Related to Rent Ready Units

  • Additional Space Commencing on May 1, 2001, Sublessor herein grants unto the Sublessee a Right of First Refusal on any space that shall be and/or becomes available in the building during the remaining Term of this Sublease. Prior to May 1, 2001 and thereafter prior to the first day of May of any calendar year during the remaining Term hereof, Sublessor shall notify Sublessee by written notice of the availability of any such space in the building. Should Sublessee desire to exercise its Right of First Refusal and sublease such available space, Sublessee must notify Sublessor in writing of its desire to sublease the available space within seven (7) calendar days of Sublessee's receipt of Landlord's notice of availability. Within thirty (30) days of the receipt of Sublessee's notice exercising the right to sublease such available space, Sublessee and Sublessor shall enter into an amendment of this agreement setting forth the terms under which the additional space is subleased to Sublessee. The Base Rental shall be at a rental mutually agreed between Sublessee and Sublessor. Failure by Sublessee to exercise its Right of First Refusal within said seven (7) calendar day period, or if exercised, failure to enter into an amendment of this agreement within thirty (30) days of Sublessor's receipt of Sublessee's notice, shall be deemed a waiver of such right and Sublessor shall thereafter be free of any obligation under this Article 2.04 for a period of 12 months. Any exercise by Sublessee of this Right of First Refusal shall be for a minimum of 5,000 rental square feet.

  • Access to Premises Landlord, its agents, servants, or employees may enter the Premises at reasonable times with reasonable advance notice to Tenant (or an authorized employee of Tenant at the Premises), and at any time, upon reasonable notice to Tenant under the circumstances, in an emergency, to do the following: inspect the Premises; comply with all laws, orders, ordinances and requirements of any governmental unit or authority for which Landlord may be responsible under this Lease, if any; show the Premises to prospective lenders or purchasers and, during the ninety (90) days immediately prior to the expiration of this Lease if Tenant declines to renew for an additional term in accordance with the provisions of this Lease, to prospective tenants, but only if all such showings are accompanied by a representative of Tenant if so requested by Tenant; or post (on the Development, but not within or at the entrance of the Premises) for sale or for lease signs; provided; however, that all such entries shall be completed promptly in a good workmanlike manner so as to cause the least practical interference to Tenant’s business and Tenant’s use of the Premises. In all events, Landlord shall use commercially reasonable efforts to minimize interference with the Premises and Tenant’s business operations thereon. If Landlord’s entry materially and substantially interferes with the conduct of Tenant’s business and/or cause damage to Tenant’s property (and the entry is not needed because of Tenant’s default, negligence or willful misconduct), then in such event the rent and any sums due and payable as additional rents, shall ▇▇▇▇▇ in proportion to the extent of the interference and Landlord shall be liable for any damage to Tenant’s property.

  • Initial Contract Term The Initial Contract Term shall be for two years. The Initial Contract Term shall begin on October 1, 2021, or on the last date the Contract is signed by all Parties, whichever is later. The Contract shall expire on October 1, 2023, unless terminated earlier in accordance with the Special Contract Conditions or Additional Special Contract Conditions.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Time of the Essence in This Tenant Work Letter Unless otherwise indicated, all references herein to a “number of days” shall mean and refer to calendar days. If any item requiring approval is timely disapproved by Landlord, the procedure for preparation of the document and approval thereof shall be repeated until the document is approved by Landlord.