Common use of Tenant Inducements Clause in Contracts

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. (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 and moving allowances, under a Prime Lease have been or will be received by Prime Tenant for its sole and exclusive benefit, unless the parties have made prior arrangements (through a written agreement) to share any such monetary inducement. Except as specified in paragraph (c), all monetary inducements arising after 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 pro rata by Too, Inc. and among SubtenantPrime Tenant based on the applicable Space Size Ratios, unless otherwise agreed by the parties under a separate written agreement. Any reporting obligation to Landlord arising under Section 110 of the Internal Revenue Code in respect of tenant inducements shall be effected jointly by Prime Tenant and Landlord pursuant Too, Inc. if such tenant inducements relate wholly or partially to the applicable provisions of the Transaction DocumentsSubleased Premises. (b) Except as specified in subsection paragraph (c), if a Limited Prime 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 as same exists as of the date hereof, Too, Inc. 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 If a Prime Tenant or Limited Tenant (or Limited) recovers from a Landlord landlord under a Prime Lease, whether before, on or after the Closing Distribution Date, any amounts in respect of such Prime Lease (including, including without limitation, limitation common area charges, maintenance or related charges) in respect of any period ending on or prior to the Closing Distribution Date, such amounts shall belong exclusively to Limited Prime 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, Prime Tenant becomes entitled at any time after the Distribution Date 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, solely to any the period or periods commencing after the Closing Distribution Date, then Limited Prime Tenant and Express Too, Inc. 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.