Common use of Distribution of Net Profits Clause in Contracts

Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the Term, Landlord shall receive 50% of any “Net Profits” (as hereinafter defined) and Tenant shall receive 50% of any Net Profits received by Tenant from any such assignment or subletting. The term “Net Profits” as used herein shall mean such portion of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent all of Tenant’s documented reasonable third party costs associated with such assignment or subletting, including, without limitation, broker commissions, attorney fees, any costs incurred by Tenant to prepare or alter the Premises, or portion thereof, for the assignee or sublessee and any free rent periods, reduced rent periods, improvements allowances, moving allowances or other market economic concessions granted by Tenant in the applicable assignment or sublease.

Distribution of Net Profits. In the event that Tenant assigns this Lease or sublets all or any portion of the Premises during the TermTerm to any entity, Landlord shall receive 50% of any “"Net Profits” " (as hereinafter defined) and Tenant shall receive 50% of any Net Profits received by Tenant from any such assignment or subletting. The term “"Net Profits” " as used herein shall mean such portion of the Rent payable by such assignee or subtenant in excess of the Rent payable by Tenant under this Lease (or pro rata portion thereof in the event of a subletting) for the corresponding period, after deducting from such excess Rent all of Tenant’s 's documented reasonable third party costs associated with such assignment or subletting, including, without limitation, broker commissions, attorney fees, fees and any costs incurred or market customary third party costs, abatements, and concessions, granted by Tenant at no cost to Landlord, to prepare or alter the Premises, or portion thereof, for the assignee or sublessee and any free rent periods, reduced rent periods, improvements allowances, moving allowances or other market economic concessions granted by Tenant in the applicable assignment or subleasesublessee.