Tenant Deposits. All tenant security deposits in Seller possession, as reflected on a final Rent Roll delivered to Buyer and not theretofore applied to tenant obligations under the Leases, shall be credited to Buyer, at Closing. Buyer shall assume Seller’s obligations related to such tenant security deposits that are credited to Buyer. Buyer will indemnify, defend, and hold Seller harmless from and against all demands and claims made by tenants arising out of the improper failure or refusal of Buyer, to refund to a tenant any security deposit of such tenant credited to Buyer and will reimburse Seller for any reasonable expenses (including all reasonable attorneys’ fees) incurred or that may be incurred by Seller as a result of any such claims or demands by tenants. The Seller will indemnify, defend and hold Buyer, harmless from and against all demands and claims made by tenants arising out of any security deposits not credited to Buyer and will reimburse Buyer, and for any reasonable expenses (including all reasonable attorneys’ fees) incurred or that may be incurred by Buyer, as a result of any such claims or demands by tenants.
Appears in 6 contracts
Samples: Purchase and Sale Agreement (Dividend Capital Total Realty Trust Inc.), Purchase and Sale Agreement (Dividend Capital Total Realty Trust Inc.), Purchase and Sale Agreement (Dividend Capital Total Realty Trust Inc.)
