TILC Costs definition

TILC Costs means (a) customary and reasonable third party tenant improvement costs and expenses actually incurred by Borrower and (b) customary and reasonable leasing commissions paid to any management or brokerage company in connection with any Qualified Replacement Lease.
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TILC Costs shall have the meaning set forth in Section 9.6.1 hereof.
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Examples of TILC Costs in a sentence

  • The parties hereto acknowledge and agree that each Borrower’s Requisition (to Administrative Agent and Mezzanine Administrative Agent) shall be in the aggregate amount of the costs of Capital Expenditures Work and TI/LC Costs (collectively the “Approved Costs”) being paid by Borrower.

  • In no event shall the amount of Special Conditional Advances for Quantum Spatial TI/LC Costs, when added to all Cash Flow Credits applicable to the payment of Quantum Spatial TI/LC Costs, exceed $1,210,000.00.

  • At Borrowers’ election, ▇▇▇▇ Sweep Disbursement for Approved TILC Costs under a specified Lease or Capital Improvements may be made periodically as construction progresses, subject to such retainage requirements as Administrative Agent in its reasonable judgment may impose (provided, that Administrative Agent agrees that no retainage will be required with respect to contracts that are less than $100,000).

  • Borrower shall pay for all TI/LC Costs, Other TI/LC Costs, Capital Expenditures and other Interest/Carry Shortfalls prior to delinquency using funds constituting the Minimum Equity Requirement until the Minimum Equity Requirement has been fully contributed by Borrower.

  • In the event that there are Unadvanced Amounts that Borrower does not terminate in accordance with Section 2.7.7, Administrative Agent shall fund such Unadvanced Amounts into an Account to be utilized for TI/LC Costs and the cost of Capital Expenditures.

  • In the event the Mode Lease is not signed by Mode on the terms set forth above on or before the Closing Date, Buyer shall receive a credit against the Purchase Price in the amount of Nine Hundred Thousand and No/100 Dollars ($900,000.00) and Seller shall have no obligation or liability for any further negotiation of the Mode Lease, nor obligation or liability for any Mode TI/LC Costs, Mode free rent or other costs or expenses relating to the Mode Lease.

  • Additionally, to the extent that either (i) there is cash flow from the Property (for the avoidance of doubt, exclusive of any funds which the DCAS Tenant under the DCAS Lease is required to pay to Borrower as reimbursement for costs incurred in connection with Borrower’s Tenant Improvement Work, or (ii) there are funds on deposit in the Working Capital Account, such funds shall be first utilized to pay TI/LC Costs and/or Capital Expenditures prior to any Future Advance.

  • The parties hereto acknowledge and agree that each Borrower’s Requisition (to Administrative Agent and Mortgage Administrative Agent) shall be in the aggregate amount of the costs of Capital Expenditures Work and TI/LC Costs (collectively the “Approved Costs”) being paid by Mortgage Borrower.

  • Absent an Event of Default, subject to the satisfaction of the requirements in Section 7.5(c) hereof, any cash swept shall be available for (A) Approved TILC Costs, (B) Approved Capex Costs, (C) the Monthly Shortfall Amount, and (D) without limiting the foregoing clause (C), taxes and insurance attributable to the Project.