Leasing Commissions and Tenant Improvements Clause Samples

Leasing Commissions and Tenant Improvements. Except as may otherwise be set forth on the schedule attached hereto as EXHIBIT I, commissions of leasing agents and tenant improvement allowances/tenant improvement expenses for any Tenant Leases entered into prior to the date of this Agreement shall be the responsibility of Seller (except that to the extent identified in any Tenant Leases or other documents provided to or made available to Buyer, Seller shall have no responsibility for the payment of commissions which relate to any future expansion or lease renewal or extension or take down of space which occurs after the Close of Escrow, nor shall Seller be responsible for the payment of any tenant improvement allowance/tenant improvement expenses or refurbishment allowances which are not due and owing as of the Close of Escrow, and Buyer shall be solely responsible for all of the same). Except as may otherwise be set forth on the schedule attached hereto as EXHIBIT I, commissions of leasing agents and tenant improvement allowances/tenant improvement expenses for any Tenant Leases entered into on or subsequent to the date of this Agreement, whether with respect to base lease term, future expansions, renewals, or otherwise, shall be prorated between Seller and Buyer based upon the portions of the lease term which occur prior to (which shall be the obligation of Seller) and after (which shall be the obligation of Buyer) the Close of Escrow.

Leasing Commissions and Tenant Improvements. (a) Each Seller shall pay prior to the Closing Date, or shall give Purchaser a credit at Closing, for Leasing Commissions and TI Obligations to which such Seller has committed under the terms of a Lease or a Lease modification, extension or renewal; provided however, Purchaser shall not be entitled to a credit and Seller shall not be obligated to pay any Leasing Commissions, TI Obligations, free rent and other concessions (all of the foregoing, collectively, “Lease Expenses”) due in connection with a Lease or a Lease modification, extension or renewal that was executed on or after the Effective Date and approved or deemed approved by Purchaser. (b) Purchaser shall pay for Lease Expenses with respect to any Lease or Lease modification, extension or renewal entered into on or after the Effective Date and approved or deemed approved by Purchaser. (c) Purchaser shall reimburse the Sellers at Closing for any payments made prior to Closing by any Seller toward Lease Expenses that Purchaser is obligated to pay under this Section 5.5.5.

Leasing Commissions and Tenant Improvements. Except as set forth below, any and all leasing commissions and tenant improvements with respect to Leases in existence on the Effective Date shall be paid in full and discharged by Seller at Closing. Any and all leasing commissions and tenant improvements with respect to Leases executed after the Effective Date which have been approved by Buyer in accordance with this Agreement, any leasing commissions on those recently executed Leases, or renewals or extensions, as expressly identified on Exhibit A hereto, shall be paid in full and discharged by Buyer. Any and all leasing commissions and tenant improvements with respect to Leases executed after the Effective Date which have been not been approved by Buyer in accordance with this Agreement shall be paid in full and discharged by Seller. Leasing commissions due to any affiliate of Seller shall be paid by Seller and shall not be prorated.

Leasing Commissions and Tenant Improvements. Upon or before the Closing, Seller shall pay in full and provide reasonable evidence to Purchaser of such payment (a) all leasing commissions and finder’s fees due to leasing or other agents for the current remaining term of each Lease entered into prior to the Effective Date, excluding specifically, however, unexercised renewal terms and unexercised expansions of any of such Leases and (b) all tenant improvement allowances owed to any tenants under the Leases with respect to any tenant improvement work completed prior to the Effective Date.

Leasing Commissions and Tenant Improvements. At the Close of Escrow, Buyer shall assume the obligation to pay all (i) leasing costs that are due or become due on or after the Closing Date to the extent that the same arise from a new Lease or any Lease amendment, extension or expansion hereafter entered into by Seller pursuant to Section 2.7(d), above and (ii) leasing costs that are due after the Closing Date (subject to Buyer's consent rights pursuant to Section 2.7(d), above).

Leasing Commissions and Tenant Improvements. At the Closing Buyer shall pay to Seller (if then due), reimburse Seller for (if already paid), and assume from Seller the obligation to pay (if due in the future) all leasing commissions, tenant improvement costs and other charges payable by reason of or in connection with any Lease (i) entered into with Buyer’s approval after the date hereof and (ii) any renewal, expansion (including any expansion options contained in an existing Lease) or extension of an existing Lease after the Closing. At the Closing, Seller shall credit Buyer the sum of $2,740,776 against the Purchase Price, which sum equals the tenant improvement allowance to which RSUI is entitled under that certain Office Lease Agreement, dated as of September 9, 1988, by and between Seller’s predecessor-in-interest and RSUI’s predecessor-in-interest (as the same has been amended and assigned, the “RSUI Lease”). Upon the granting of such credit to Buyer at the Closing, Seller shall be released of any obligation to pay such tenant improvement allowance to RSUI and Buyer shall indemnify and hold Seller harmless against any claim by RSUI for such tenant improvement allowance (including attorneys’ fees). Buyer shall be liable for the payment of any leasing commission owed to a third-party broker and any tenant improvement allowance owed to RSUI, as the case may be, if RSUI exercises the Expansion Option (as defined in the RSUI Lease), and Buyer shall indemnify and hold Seller harmless against any claim by RSUI or any third-party broker for any such leasing commission or tenant improvement allowance (including attorneys’ fees). This Section 7.1.2 shall survive the Closing.

Leasing Commissions and Tenant Improvements. At the Closing, Buyer shall pay or reimburse Seller for all leasing commissions, tenant improvement costs and allowances and other charges due and payable, or previously paid by Seller, by reason of or in connection with any Leasing Transaction. At or prior to the Closing, Seller shall pay all leasing commissions, tenant improvement costs and allowances and other charges due and payable by reason of or in connection with any Lease listed on Exhibit F (without giving effect to any Leasing Transaction). To the extent that any leasing commissions, tenant improvement costs and allowances and other charges relating to any Lease or Leasing Transaction are not due and payable as of the Closing Date, Buyer shall assume the obligation to pay them pursuant to the General Assignment and will receive a credit on the Settlement Statement equal to the amount, if any, thereof relating to any Lease listed on Exhibit F (without giving effect to any Leasing Transaction).

Leasing Commissions and Tenant Improvements. Any and all leasing commissions due and tenant improvements with respect to Leases in existence on the date hereof including the Pending Leases (as hereinafter defined in Exhibit "R") shall be paid in full and discharged by Seller. Any and all leasing commissions and tenant improvements with respect to Leases executed after the date hereof in accordance with the consent provisions described below, except for the Pending Leases shall be paid in full and discharged by Buyer.

Leasing Commissions and Tenant Improvements. There are no Leases for which commissions or other compensation of leasing and rental agents are owed.