Common use of Tenant Improvements/Leasing Commissions Clause in Contracts

Tenant Improvements/Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into after the date hereof 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”) into which Borrower shall deposit on the date hereof $10,155,833. In addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) on each Scheduled Payment Date, the applicable TI/LC Monthly Deposit and (ii) any sum or termination fee payable to Borrower in connection with any early termination of a Lease 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/Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into after the date hereof 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”) into which Borrower shall deposit on the date hereof $10,155,8337,100,153.00. In addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) on each Scheduled Payment Date, the applicable TI/LC Monthly Deposit and (ii) any sum or termination fee payable to Borrower in connection with any early termination of a Lease 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/Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into after the date hereof 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”) into which Borrower shall deposit on the date hereof $10,155,8331,711,613.42. In addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) on each Scheduled Payment Date, the applicable TI/LC Monthly Deposit and (ii) any sum or termination fee payable to Borrower in connection with any early termination of a Lease 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/Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into after the date hereof 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”) into which Borrower shall deposit on the date hereof $10,155,8332,032,819.00. In addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) on each Scheduled Payment Date, the applicable TI/LC Monthly Deposit and (ii) any sum or termination fee payable to Borrower in connection with any early termination of a Lease 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/Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any Lease entered into after the date hereof 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”) into which Borrower shall deposit on the date hereof $10,155,833851,831.00. In addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) on each Scheduled Payment Date, the applicable TI/LC Monthly Deposit and (ii) any sum or termination fee payable to Borrower in connection with any early termination of a Lease 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/Leasing Commissions. (a) Borrower hereby agrees to (a) perform, or cause to be performed, tenant improvements required under any the Latham Lease entered into after and the date hereof in accordance with the provisions of Section 5.13 of this Agreement MoFo Lease (collectively, the “Tenant Improvements”"TENANT IMPROVEMXXXX"), 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 has established 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 has deposited $10,155,8337,395,002.00. In addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) on each Scheduled Payment Date, the applicable TI/LC Monthly Deposit and (ii) any sum or termination fee payable to Borrower in connection with any Tenant's election to exercise any early termination of a option contained in either the Latham Lease at or the Property MoFo Lease (the “Termination Fee Deposit”"TERMINATION FEE DEPOSIT") on the date txx xxxe of Borrower’s 's receipt thereof. Amounts so deposited shall hereinafter be referred to as the “Leasing Reserve Funds"LEASING RESERVE FUNDS.”"