Tenant Inducements Sample Clauses
The Tenant Inducements clause outlines incentives or benefits provided by the landlord to encourage a tenant to enter into a lease agreement. These inducements may include rent-free periods, cash allowances for improvements, or contributions toward moving expenses. By specifying the nature and terms of these incentives, the clause ensures both parties understand what is being offered and under what conditions, thereby facilitating agreement and reducing the risk of disputes over promised benefits.
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Tenant Inducements. (a) The parties acknowledge that all monetary tenant inducements and underpayments or overpayments by Tenant of any monetary obligations under the Prime Leases arising prior to the date hereof, including, without limitation, tenant improvement allowances, moving allowances and key money, under a Prime Lease payable to or by Tenant shall be shared and/or reimbursed by and among Subtenant, Tenant and Landlord pursuant to the applicable provisions of the Transaction Documents.
(b) Except as specified in subsection (c), if a Limited Tenant is entitled to an abatement or reduction of rent (e.g., as a result of a condemnation or casualty) under a Prime Lease, Express shall be entitled to a share of such abatement or reduction of rent in an equitable manner taking into account the extent to which the Subleased Premises are affected by the circumstances resulting in such abatement or rent reduction.
(c) Subject to the provisions of the Transaction Documents, if a Limited Tenant (or Limited) recovers from a Landlord under a Prime Lease, whether before, on or after the Closing Date, any amounts in respect of such Prime Lease (including, without limitation, common area charges, maintenance or related charges) in respect of any period prior to the Closing Date, such amounts shall belong exclusively to Limited Tenant or Limited (regardless of whether such amounts are actually paid or take the form of a reduction or abatement in rent or other charges otherwise subsequently payable to Landlord under the Prime Lease). If, however, Tenant becomes entitled at any time to any amounts in respect to such Prime Lease, including without limitation, any abatement or reduction in common area charges, maintenance or related charges relating, in each case, to any period or periods after the Closing Date, then Limited Tenant and Express shall share such abatement or reduction in proportion to their respective Space Size Ratios after the party incurring any out-of-pocket costs and expenses related to obtaining such abatements and reductions has been fully reimbursed for such costs and expenses.
Tenant Inducements. The parties acknowledge that all monetary tenant ------------------- inducements arising prior to the date hereof, including, without limitation, tenant improvement allowances and moving allowances, under a Prime Lease have been or will be received by Sublessor for its sole and exclusive benefit, unless the parties have made prior arrangements (through course of conduct or written or oral agreement) to share any such monetary inducement. All monetary inducements arising after the date hereof, including, without limitation, tenant improvement allowances and moving allowances, under a Prime Lease shall be shared prorata by Sublessee and Sublessor based on the Space Size Ratios, unless otherwise agreed by the parties
Tenant Inducements. Effective as of December 1, 2020, the amount of outstanding Abated Rent is equal to $647,840.00 (e.g., $161,960 per month from December 1, 2020 through March 31, 2020).
Tenant Inducements. Purchaser shall be responsible for the payment of all of the following Tenant Inducement Costs (as defined below):
(a) those specifically identified as Purchaser’s obligation on Exhibit K-1 of the Company Disclosure Letter and (b) those payable under a New Lease entered into in accordance with the terms of this Agreement. In addition, Purchaser shall reimburse Seller for the amount that Seller pays for the reasonable third-party legal services provided in connection with the negotiation and entering into of any New Lease in accordance with terms of this Agreement and incurred by Seller (i) in the amount set forth on Exhibit K-1 of the Company Disclosure Letter with respect to such costs incurred prior to the Effective Date or (ii) after the Effective Date. Seller shall be responsible for the payment of those Tenant Inducement Costs specifically identified as Seller’s obligations on Exhibit K-1 of the Company Disclosure Letter and any Tenant Inducement Costs that are not the express obligation of Purchaser pursuant to this Agreement.
Tenant Inducements. Those certain awards and entitlements under the Leases, specifically identified on Schedule 2.3. Buyer shall forward to Seller all payments received by Buyer after Closing on account of such awards and entitlements, forthwith upon receipt of same.
Tenant Inducements. Tenant acknowledges that Landlord has granted certain inducements to Tenant in consideration for Tenant’s commitment to perform for the entire Term of this Lease, including [the granting of free rent for portions of the Lease pursuant to Section 1.13 and] the providing of the Allowance pursuant to Exhibit C (the “Tenant Inducements”). If Tenant defaults hereunder, in addition to all other remedies to which Landlord may be entitled under law or in equity, Tenant shall reimburse Landlord an amount equal to the unamortized Tenant Inducements amortized over a 150-month period commencing on the Commencement Date.
Tenant Inducements. At or prior to the Close of Escrow, Buyer shall receive a credit at Closing for all Tenant Inducement Costs, and other expenses (including reasonable legal fees) incurred by or on behalf of the landlord or licensor in connection with the Leases, including those set forth on Schedule 8.1.4(a) hereto, or arising pursuant to any other lease, license or other agreement that (1) was entered into prior to the Effective Date, or (2) was entered into in violation of Section 7.3.
Tenant Inducements. All free rent periods moving expense reimbursements, tenant improvement allowances and similar tenant inducements for the current Leases will have expired by the date of Closing.