Common use of Security Deposits; Leasing Commissions and Tenant Inducement Costs Clause in Contracts

Security Deposits; Leasing Commissions and Tenant Inducement Costs. Except as provided below, all unpaid Leasing Commissions, unpaid Tenant Inducements Costs and Security Deposits under the Leases entered into by Seller on or before August 1, 2010 (other than any letters of credit, which shall be assigned to Buyer) shall be credited to Buyer at the Closing. Notwithstanding the foregoing, for purposes of this Section 11.2(c), to the extent the Lease entered into with respect to the Tenant “Chevy’s” includes any unexpired free rent or unexpired rent holiday as of the Closing, only with respect to such Tenant “Chevy’s,” only one-half (1/2) of any unexpired free rent or unexpired rent holiday, together with the full amount of any other Tenant Inducement Costs provided for under such Lease, shall be included in the term “Tenant Inducement Costs” for purposes of this Section 11.2(c). Furthermore, for purposes of this Section 11.2(c), for any Lease entered into by Seller after August 1, 2010 and prior to the Effective Date and any New Lease entered into by Seller after the Effective Date pursuant to Section 5.1(c) hereof, provided such Lease or New Lease, as applicable, was approved (or deemed approved) by Buyer in accordance with the provisions of Section 4.1 and 5.1(c) hereof: (i) Buyer shall not receive a credit at the Closing for any Leasing Commissions or Tenant Inducement Costs with respect to such Lease or New Lease, as applicable; and (ii) on the Closing, Buyer shall pay or reimburse Seller for all out-of-pocket Leasing Commissions and Tenant Inducement Costs paid by Seller with respect to such Lease or New Lease, as applicable, as of the Closing, and shall be responsible for any such remaining Tenant Inducement Costs and Leasing Commissions thereafter, this obligation to survive Closing.

Security Deposits; Leasing Commissions and Tenant Inducement Costs. Except as provided below, all All unpaid Leasing CommissionsCommissions with respect to Leases entered into prior to the Effective Date, unpaid or unused Tenant Inducements Costs with respect to Leases entered into prior to the Effective Date, and unapplied Security Deposits under the Leases entered into by Seller on or before August 1, 2010 (other than any letters of credit, which shall be assigned to Buyer) and License Agreements shall be credited to Buyer at the Closing, and Buyer shall thereafter be solely responsible for and shall indemnify, defend and hold Sellers harmless from any obligations and liabilities in connection therewith. From and after Closing, Buyer shall be responsible for maintaining as security deposits and other deposits the aggregate amount so credited to Buyer in accordance with all applicable laws, rules and regulations, and in accordance with the provisions of the Leases and License Agreements relevant thereto. Notwithstanding the foregoing, for purposes of this Section 11.2(c), to the extent the Lease entered into with respect to the Tenant “Chevy’s” includes any unexpired free rent or unexpired rent holiday as of the Closing, only with respect to such Tenant “Chevy’s,” only one-half (1/2) of any unexpired free rent or unexpired rent holiday, together with the full amount of any other Tenant Inducement Costs provided for under such Lease, shall be included in the term “Tenant Inducement Costs” for purposes of this Section 11.2(c). Furthermore, for purposes of this Section 11.2(c), for any Lease entered into by Seller after August 1, 2010 and prior to the Effective Date and any Proposed New Lease entered into by Seller after the Effective Date pursuant to Section 5.1(c) hereof, provided such Proposed New Lease is approved in writing by Buyer pursuant to Section 5.1(c) hereof to the extent required thereunder (and therefore constitutes a New Lease or New LeaseLicense Agreement, as applicable), was approved (or deemed approved) by then except as Buyer and Sellers may otherwise agree in accordance with the provisions of Section 4.1 and 5.1(c) hereofwriting: (ia) Buyer shall not be entitled to receive a credit at the Closing for any Leasing Commissions or Tenant Inducement Costs with respect to such New Lease or New LeaseLicense Agreement, as applicable; and (iib) on the Closing, Buyer shall pay or reimburse Seller Sellers for all out-of-pocket Leasing Commissions and Tenant Inducement Costs paid by any Seller with respect to such New Lease or New LeaseLicense Agreement, as applicable, as of the Closing; and (c) subsequent to the Closing, and Buyer shall thereafter be responsible for any such all remaining Tenant Inducement Costs and Leasing Commissions thereafterwith respect to such New Lease or New License Agreement, this obligation to survive Closingas applicable.

Security Deposits; Leasing Commissions and Tenant Inducement Costs. Except as provided below, all unpaid Leasing Commissions, unpaid Tenant Inducements Costs and Security Deposits under the Leases entered into by Seller on or before August 1, 2010 (other than any letters of credit, which shall be assigned to Buyer) shall be credited to Buyer at the Closing. Notwithstanding the foregoing, for purposes of this Section 11.2(c), to the extent the Lease entered into with respect to the Tenant “Chevy’s” includes any unexpired free rent or unexpired rent holiday as of the Closing, only with respect to such Tenant “Chevy’s,” only one-half (1/2) of any unexpired free rent or unexpired rent holiday, together with the full amount of any other Tenant Inducement Costs provided for under such Lease, shall be included in the term “Tenant Inducement Costs” for purposes of this Section 11.2(c). Furthermore, for purposes of this Section 11.2(c), for any Lease entered into by Seller after August 1, 2010 and prior to the Effective Date and any New Lease entered into by Seller after the Effective Date pursuant to Section 5.1(c) hereof, provided such Lease or New Lease, as applicable, was approved (or deemed approved) by Buyer in accordance with the provisions of Section 4.1 and 5.1(c) hereof: (i) Buyer shall not receive a credit at the Closing for any Leasing Commissions or Tenant Inducement Costs with respect to such Lease or New Lease, as applicable; and (ii) on the Closing, Buyer shall pay or reimburse Seller for all out-of-pocket Leasing Commissions and Tenant Inducement Costs paid by Seller with respect to such Lease or New Lease, as applicable, as of the Closing, and shall be responsible for any such remaining Tenant Inducement Costs and Leasing Commissions thereafter, this obligation to survive Closing.

Security Deposits; Leasing Commissions and Tenant Inducement Costs. Except as provided below, all All unpaid Leasing Commissions, unpaid Tenant Inducements Inducement Costs and Security Deposits under the Leases entered into by Seller on or before August 1, 2010 (other than any letters of credit, which shall be assigned to Buyer) shall be credited to Buyer at the Closing. Notwithstanding the foregoing, for purposes of this Section 11.2(c), to the extent the Lease entered into Tenant Inducement Costs with respect to the Tenant “Chevy’s” includes any unexpired free rent or unexpired rent holiday as of the Closing, only with respect to such Tenant “Chevy’s,” only one-half (1/2) of any unexpired free rent or unexpired rent holiday, together with the full amount of any other Tenant Inducement Costs provided for under such Lease, shall be included in the term “Tenant Inducement Costs” for purposes of this Section 11.2(c). Furthermore, for purposes of this Section 11.2(c), for any Lease entered into by Seller after August 1, 2010 and prior to the Effective Date and any New Lease entered into by Seller after the Effective Date pursuant to Section 5.1(c) hereof, provided such Lease or New Lease, as applicable, was Leases approved (or deemed approved) by Buyer in accordance with Section 5.1(b) hereof or with respect to expansion or extension rights exercised under the provisions of Section 4.1 Leases after the Effective Date) and 5.1(c) hereof: (i) Security Deposits under the Leases shall be credited to Buyer at the Closing. Buyer shall not receive a credit at be responsible for the Closing for any payment of all Leasing Commissions or and Tenant Inducement Costs with respect to such Lease all New Leases approved by Buyer in accordance with Section 5.1(b) hereof and with respect to expansion or New Leaseextension rights exercised under the Leases after the Effective Date, as applicable; well as for any Tenant Inducement Costs, Leasing Commissions, and (ii) on Security Deposits to the extent of any credit received by Buyer pursuant to the foregoing sentence. To the extent that any Tenant has provided Seller with a letter of credit to secure such Tenant's obligations under its Lease then, at the Closing, Seller shall deliver to Buyer the original letter of credit, together with executed counterparts of any applicable transfer forms needed to transfer such letter of credit to the benefit of Buyer, and Buyer shall pay or reimburse receive a credit in the amount of any applicable transfer fees. In addition, Seller for all out-of-pocket Leasing Commissions and Tenant Inducement Costs paid by Seller with respect to shall administer any such Lease or New Lease, letters of credit on behalf of Buyer until such time as applicable, as new letters of the Closing, and credit shall be responsible issued for any such remaining Tenant Inducement Costs and Leasing Commissions thereafter, this obligation to survive ClosingBuyer's benefit.