Tenant Recovery definition

Tenant Recovery means, with respect to any Lease that provides more than five percent (5%) of the gross annual income from Borrower’s Individual Property during any twelve (12) month period during the term of the Loan, the amount of (1) any security deposit cashed or applied by Borrower, any termination fee, cancellation fee or any other fee received by, or on behalf of, any of the Recourse Parties in connection with any lease termination, cancellation, surrender or expiration at any time during the term of the Loan, and (2) any judgment, settlement or other recovery received by, or on behalf of, any of the Recourse Parties against or from any Tenant under, or any guarantor of, any Lease at any time during the term of the Loan, if such amount is greater than one (1) month’s base rent payable under the applicable Lease and which is not paid to Lender (or an escrow agent selected by Lender) to be disbursed for the payment of Lender-approved (A) tenant improvements and/or (B) market leasing commissions, which is received by, or, on behalf of, any of the Recourse Parties at any time during the term of the Loan.
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Tenant Recovery means, with respect to any Lease that provides more than five percent (5%) of the gross annual income from the Property during any twelve (12) month period during the term of the Loan, the amount of any Recovery (as defined in Section 8.01(i) herein) if such Recovery is greater than one (1) month’s base rent payable under the applicable Lease, which is received by, or, on behalf of, any of the Recourse Parties at any time during the term of the Loan.
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Examples of Tenant Recovery in a sentence

  • Confidential Information" shall mean (i) information provided by each of RSC and RSASC to Tenant Recovery under Section 1 of this Agreement (ii) the information provided by Tenant Recovery to RSASC, RSC and RGC under Section 2 of this Agreement, and (iii) the software and passwords provided for under Section 12 of this Agreement (including any upgrades, revisions, modifications and substitutions of same) (the "Intellectual Property").

  • RSC and RGC through RSASC shall provide Tenant Recovery with the installation and maintenance services on the terms and conditions set forth in Exhibit A hereto, which Exhibit shall be deemed to be part of this Agreement.

  • Each of RSC, RGC, RSASC and Tenant Recovery, and each of their respective affiliates, shareholders, members, directors, officers, employees and agents) agrees to hold the Confidential Information in the strictest confidence, both during and after the termination of this Agreement.

  • RSC and RGC through RSASC hereby grant a license to Tenant Recovery to use and access the RentGard(TM) System, use the registered trademark "RentGard" and the goodwill associated thereto, and use any and all information required to be given it hereunder for purposes of performing the services required to be performed by it under this Agreement.

  • Tenant Recovery shall be provided on a timely basis with all necessary software and passwords (including any upgrades, revisions, modifications and substitutions of same) to use and access the aforesaid System and communicate with RSASC.

  • RSC shall consult with Tenant Recovery prior to filing any applications for confidential treatment relating to this Agreement or the subject matter hereof.

  • It is agreed and acknowledged by both RSASC and Tenant Recovery, that this Agreement will become binding as per the terms contained herein, upon Tenant Recovery paying the full amount of US$250,000 as provided in Section F herein.

  • In addition to and not withstanding any right to indemnification hereunder, if RSC, RGC or RSASC shall fail to cure the breach or default prior to the expiration of the Cure Period, each RSC, RGC and RSASC shall be jointly and severally liable to make payment of the Payment Amount to Tenant Recovery within thirty (30) days of receipt of the computation of the Payment Amount provided for by Section 6 hereof.

  • Upon the expiration of the Term pursuant to Section 5 hereof or the termination or cancellation of the Term pursuant to Section 6 hereof and the Payment Amount is paid in full within the requisite time period, then Tenant Recovery shall return to RSASC copies of all papers, compact disks and other similar media in its possession containing Confidential Information.

  • The parties hereto shall be entitled to assign any of its rights and obligations hereunder, (i) in the case of Tenant Recovery, only with the prior written consent of RSASC and (ii) in the case of RSC, RGC and RSASC, only with the prior written consent of Tenant Recovery.