Common use of Tenant Improvements and Leasing Commissions Clause in Contracts

Tenant Improvements and Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into in accordance with the provisions of Section 5.13 of this Agreement (collectively, the "TENANT IMPROVEMENTS"), and (b) pay the costs of leasing commissions incurred by Borrower in connection with the leasing of the Property or a portion thereof (collectively, "LEASING COMMISSIONS"). (b) Borrower shall establish on the date hereof an Eligible Account with Lender or Lender's agent to fund Tenant Improvements and Leasing Commissions (the "LEASING RESERVE ACCOUNT"). Upon the occurrence and during the continuance of a Trigger Period, Borrower shall deposit with Lender into the Leasing Reserve Account (i) the sum of $4,245 (the "LEASING RESERVE MONTHLY DEPOSIT") on each Scheduled Payment Date and (ii) any sum or termination fee payable to Borrower in connection with any Tenant's election to exercise any early termination option contained in its respective lease of space at the Property (the "TERMINATION FEE DEPOSIT") on the date of Borrower's receipt thereof. Amounts so deposited shall hereinafter be referred to as the "LEASING RESERVE FUNDS."

Tenant Improvements and Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into in accordance with the provisions of Section 5.13 of this Agreement (collectively, the "TENANT IMPROVEMENTS"‘Tenant Improvements”), and (b) pay the costs of leasing commissions incurred by Borrower in connection with the leasing of the Property or a portion thereof (collectively, "LEASING COMMISSIONS"“Leasing Commissions”). (b) Borrower shall establish on the date hereof an Eligible Account (or, during any Cash Management Period, a sub-account of the Cash Management Account) with Lender or Lender's ’s agent to fund Tenant Improvements and Leasing Commissions (the "LEASING RESERVE ACCOUNT")“Leasing Reserve Account”) into which Borrower shall deposit on the date hereof $0. Upon In addition, upon the occurrence and during the continuance of a Trigger Periodan Event of Default, Borrower shall deposit with Lender into the Leasing Reserve Account (i) the sum of $4,245 (the "LEASING RESERVE MONTHLY DEPOSIT") on each Scheduled Payment Date and (ii) any sum or termination fee payable to Borrower in connection with any Tenant's ’s election to exercise any early termination option contained in its respective lease of space at the Property (the "TERMINATION FEE DEPOSIT"“Termination Fee Deposit”) on the date of Borrower's ’s receipt thereof, provided that such deposits shall not be required following the discontinuance of such Event of Default. Amounts so deposited shall hereinafter be referred to as the "LEASING RESERVE FUNDS“Leasing Reserve Funds ."”

Tenant Improvements and Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into in accordance with the provisions of Section 5.13 of this Agreement (collectively, the "TENANT IMPROVEMENTS"“Tenant Improvements”), and (b) pay the costs of leasing commissions incurred by Borrower in connection with the leasing of the Property or a portion thereof (collectively, "LEASING COMMISSIONS"“Leasing Commissions”). (b) Borrower shall establish on the date hereof an Eligible a sub account of the Cash Management Account with Lender or Lender's ’s agent to fund Tenant Improvements and Leasing Commissions (the "LEASING RESERVE ACCOUNT"). Upon the occurrence and during the continuance of a Trigger Period, “Leasing Reserve Account”) into which Borrower shall deposit with Lender into the Leasing Reserve Account (i) the sum of $4,245 0.00 (the "LEASING RESERVE MONTHLY DEPOSIT"“Leasing Reserve Monthly Deposit”) on each Scheduled Payment Date and (ii) any sum or termination fee payable to Borrower in connection with any Tenant's ’s election to exercise any early termination option contained in its respective lease of space at the Property (the "TERMINATION FEE DEPOSIT"“Termination Fee Deposit”) on the date of Borrower's ’s receipt thereof. Amounts so deposited shall hereinafter be referred to as the "LEASING RESERVE FUNDS“Leasing Reserve Funds”. Notwithstanding the foregoing, so long as (i) no Event of Default have occurred and is continuing, (ii) a Cash Management Period is not continuing, and (iii) Borrower delivers evidence to Lender that Borrower has paid all Taxes and Insurance Premiums prior to the date the same are delinquent, Borrower shall not be required to make the Leasing Reserve Monthly Deposit."

Tenant Improvements and Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into in accordance with the provisions of Section 5.13 of this Agreement (collectively, the "TENANT IMPROVEMENTS"“Tenant Improvements”), and (b) pay the costs of leasing commissions incurred by Borrower in connection with the leasing of the Property or a portion thereof (collectively, "LEASING COMMISSIONS"“Leasing Commissions”). (b) . Borrower shall establish on the date hereof an Eligible Account with Lender or Lender's ’s agent to fund Tenant Improvements and Leasing Commissions (the "LEASING RESERVE ACCOUNT")“Leasing Reserve Account”) into which Borrower shall deposit on the date hereof $0. Upon the occurrence and during the continuance of a Trigger PeriodIn addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) the sum of $4,245 0 (the "LEASING RESERVE MONTHLY DEPOSIT"“Leasing Reserve Monthly Deposit”) on each Scheduled Payment Date and (ii) any sum or termination fee payable to Borrower in connection with any Tenant's ’s election to exercise any early termination option contained in its respective lease of space at the Property (the "TERMINATION FEE DEPOSIT"“Termination Fee Deposit”) on the date of Borrower's ’s receipt thereof. Amounts so deposited shall hereinafter be referred to as the "LEASING RESERVE FUNDS“Leasing Reserve Funds."”

Tenant Improvements and Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into in accordance with the provisions of Section 5.13 of this Agreement (collectively, the "TENANT IMPROVEMENTS"“Tenant Improvements”), and (b) pay the costs of leasing commissions incurred by Borrower in connection with the leasing of the Property or a portion thereof (collectively, "LEASING COMMISSIONS"“Leasing Commissions”). (b) Borrower shall establish on the date hereof an Eligible Account with Lender or Lender's ’s agent to fund Tenant Improvements and Leasing Commissions (the "LEASING RESERVE ACCOUNT"“Leasing Reserve Account”). Upon the occurrence and during the continuance of a Trigger Period, Borrower shall deposit with Lender into the Leasing Reserve Account (i) the sum of $4,245 22,042.42 (the "LEASING RESERVE MONTHLY DEPOSIT"“Leasing Reserve Monthly Deposit”) on each Scheduled Payment Date and (ii) any sum or termination fee payable to Borrower in connection with any Tenant's ’s election to exercise any early termination option contained in its respective lease of space at the Property (the "TERMINATION FEE DEPOSIT"“Termination Fee Deposit”) on the date of Borrower's ’s receipt thereof; provided, however, Borrower’s obligation to make the Leasing Reserve Monthly Deposit shall be suspended for so long as the Leasing Reserve Account contains at least $1,300,000.00. Amounts so deposited shall hereinafter be referred to as the "LEASING RESERVE FUNDS“Leasing Reserve Funds."”