Free Rent Credit definition
Examples of Free Rent Credit in a sentence
Buyer Parent shall receive a credit from the Seller Parties at the Closing for the amount of the Free Rent Credit, without duplication of other amounts prorated hereunder.
Buyer shall receive a credit from Seller at the Closing for the amount of the Free Rent Credit, without duplication of other amounts prorated hereunder.
If the Seller delivers the Notice of Objection to the Buyer within the Review Period, the Buyer and the Seller shall, during the fifteen (15) days following such delivery or any mutually agreed extension thereof, use their commercially reasonable efforts to reach agreement on the disputed items and amounts in order to determine the amount of Closing Cash Reserve, Closing Company Indebtedness and Closing Free Rent Credit, as applicable.
Purchaser shall receive a credit at Closing toward the Purchase Price in an amount equal to the Free Rent Credit calculated in accordance with Exhibit P.
Upon the mutual execution of this Lease Amendment, Lessor shall provide Lessee with a Free Rent Credit of $50,000.00.
If the Closing occurs on the Scheduled Closing Date, the Free Rent Credit would equal $378,769.
Any Notice of Objection shall specify those items or amounts with which the Seller disagrees, together with a detailed written explanation of the reasons for disagreement with each such item or amount, and shall set forth the Seller’s calculation of the Closing Cash Reserve, Closing Company Indebtedness and Closing Free Rent Credit, as applicable, based on those objections.
Such Free Rent Credit shall be funded to the next full month after Lease Amendment Execution, and as such Free Rent Credit exceeds the value of one month’s Base Monthly Rent, the balance of the Free Rent Credit shall be applied to the partial Base Monthly Rent of the second full month after Lease Amendment Execution.