Tenant Allowances and Leasing Commissions Sample Clauses
The Tenant Allowances and Leasing Commissions clause outlines the landlord's obligations to provide financial incentives, such as allowances for tenant improvements and payments to brokers or agents for securing tenants. Typically, this clause specifies the amount, timing, and conditions under which these payments are made, and may detail what types of improvements are covered or how commissions are calculated. Its core function is to clarify the financial responsibilities related to attracting and accommodating tenants, thereby preventing disputes and ensuring transparency in the leasing process.
Tenant Allowances and Leasing Commissions. Amounts due from Seller for tenant improvements and leasing commissions under Leases (other than Leases or Lease modifications approved by Buyer under Section 6), with respect to unpaid tenant improvement costs, or leasing commissions (excluding any commissions which may be due after the Effective Date with respect to options, extensions, expansions or renewals), which amounts are unpaid as of the Closing Date, shall be credited to Buyer on the Closing Date, and at Closing, Buyer shall assume the liability for payment thereof. Seller shall receive a credit for all amounts paid by Seller for leasing commissions and tenant improvements pursuant to Section 6 below (including without limitation in connection with the proposed Lease to Michael Danner and ▇▇▇ ▇▇▇▇▇ ▇▇▇▇es approved by Buyer under Section 6 below; provided, however, that the leasing commissions and tenant improvement expenses for the proposed Lease to Carroll, Kelly & Tr▇▇▇▇▇ ▇▇▇▇ ▇▇▇pec▇ ▇▇ ▇▇ite 800 (the "Trotter Lease"), ha▇▇▇▇ ▇▇en approved by Buyer pursuant to Section 6 below, shall be split 50% each, with the initial credit to Seller at Closing to be (i) $30,714.62 in favor of Seller (assuming no approved change orders prior to the Closing Date) in connection with the tenant improvement construction contract, and (ii) $5,090.70 for leasing commissions, with additional payments to be made by Buyer to Seller, post-Closing in the event that the actual costs under the construction contract increase as a result of change orders, if any, which increase the cost of construction and are consented to by Buyer, but which are not required to be paid for by the tenant, with Buyer's share of such additional costs to be paid by Buyer to Seller within ten (10) days after Seller's written request therefor and delivery of copies of the change orders evidencing such increased costs. In connection with the Closing, Seller shall deliver to Buyer any tenant improvement funds paid by Tenants and held by Seller as of the Closing Date with respect to uncompleted tenant improvements or which are subject to refund to Tenants and Buyer shall assume Seller's liability to provide such tenant improvements and make such refunds: provided, however, that Buyer shall not assume the obligations to complete tenant improvements under the Trotter Lease (it b▇▇▇▇ ▇▇derstood that Seller shall be responsible for completion of such improvements and payment of such expenses). In addition to the foregoing, an amount equal to the value...
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Tenant Allowances and Leasing Commissions. There are no unpaid Leasing Commissions or Tenant Allowances which are either currently due and payable or earned (but not yet due or payable).
Tenant Allowances and Leasing Commissions. Contributor shall pay the cost of the tenant allowances identified on Schedule 7.2(g) and leasing commissions that are owing or become owing under Leases entered into prior to the date hereof, and, with respect to such amounts that have not been paid in full or otherwise satisfied prior to the Closing Date, Contributor shall pay the same to the Partnership within five business days following the giving of written notice by the Partnership that they are due to Tenants but in any event not later than December 31, 1997. In addition, the Partnership shall receive a credit at Closing for the amount of the outstanding rent concessions as of the Adjustment Date that have been granted to Gymboree and Bombay Company under their Leases at the Mall.
Tenant Allowances and Leasing Commissions. Contributor shall pay the cost of the tenant allowances identified on Schedule 7.2(g) and leasing commissions that are owing or become owing under Leases entered into prior to the date hereof, and, with respect to such amounts that have not been paid in full or otherwise satisfied prior to the Closing Date, Contributor shall pay the same to the Partnership within five business days following the giving of written notice by the Partnership that they are due to Tenants but in any event not later than December 31, 1997.