Common use of Tenant Inducement Costs Clause in Contracts

Tenant Inducement Costs. At Closing, Seller shall pay all unpaid out-of-pocket expenses required under the Leases to be paid by the landlord to or for the benefit of the tenant which are in the nature of a tenant inducement, including specifically, but without limitation, tenant improvement costs, lease buyout payments, and moving, design, refurbishment and club membership allowances and costs (“Tenant Inducement Costs”) and leasing commissions for all Leases due and owing prior to Closing. The term "Tenant Inducement Costs" shall not include loss of income resulting from any free rental period, it being understood and agreed that Seller shall bear the loss resulting from any free rental period until the Closing Date and that Purchaser shall bear such loss from and after the Closing Date. Purchaser shall be responsible for all Tenant Inducement Costs and leasing commissions for all Leases (or renewals or extensions thereof) approved by or deemed approved by Purchaser and which are entered into after the Effective Date. If any Tenant Inducement Costs and leasing commissions are due and payable after the Closing Date, then Purchaser shall assume such payment obligation at Closing.

Tenant Inducement Costs. At Closing, Seller shall pay all those unpaid out-of-pocket expenses required under the Leases to be paid by the landlord to or for the benefit of the tenant which are in the nature of a tenant inducement, including specifically, but without limitation, tenant improvement costs, lease buyout payments, and moving, design, refurbishment and club membership allowances and costs (“Tenant Inducement Costs”) and leasing commissions for all Leases due and owing prior to Closing, if any, set forth on Exhibit D attached hereto. The term "Tenant Inducement Costs" shall not include loss of income resulting from any free rental period, it being understood and agreed that Seller shall bear the loss resulting from any free rental period until the Closing Date and that Purchaser shall bear such loss from and after the Closing Date. Purchaser shall be responsible for all Tenant Inducement Costs and leasing commissions for all Leases (or renewals or extensions thereof) approved by or deemed approved by Purchaser and which are entered into after the Effective Date. If any Tenant Inducement Costs and leasing commissions are due and payable after the Closing Date, then Purchaser shall assume such payment obligation at Closing.