Common use of Leasing Commissions and Tenant Improvements Clause in Contracts

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. Except The parties agree that as may otherwise be set forth on to any new Leases or amendments thereto executed after the schedule attached hereto as EXHIBIT I, commissions of leasing agents Effective Date and tenant improvement allowances/tenant improvement expenses for any Tenant Leases entered into prior to Closing in accordance with 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 terms of this Agreement, whether with respect to base lease term, future expansions, renewals, or otherwise, all Leasing Costs (as defined below) shall be prorated between Seller paid by Buyer. Subject to the foregoing and the provisions of Section 9.2.1, Buyer based upon shall pay all Leasing Costs that become due and payable on or after Closing, and Sellers shall have no obligation to pay any such Leasing Costs; provided, however, that in respect of Buyer’s agreement to pay such Leasing Costs, including, without limitation, those set forth on Schedule 5.6 hereto, Buyer shall receive a credit at Closing in the portions amount of $1,160,301.72 (the “Leasing Cost Credit”) in respect of the lease term Leasing Costs listed on Schedule 5.6 hereto, subject to reduction as set forth in the penultimate sentence of this Section 5.6. At Closing, Buyer shall assume Seller’s obligation to the applicable tenants to pay any remaining unpaid Leasing Costs for which occur Buyer is responsible as set forth in this Section 5.6. The Leasing Cost Credit shall be reduced by the amount of any Leasing Costs set forth on Schedule 5.6 that are actually paid by Seller prior to (Closing as to which Seller provides reasonable proof of payment to Buyer. As used herein, “Leasing Costs” shall mean any out-of-pocket payments required under a Lease or any Lease amendment to be paid by the obligation landlord thereunder to or for the benefit of Seller) the tenant thereunder that is in the nature of a tenant inducement or concession including, without limitation, tenant improvement costs, design, refurbishment and after (which shall be other tenant allowances, lease - -13 - buyout costs, moving allowances, any free-rental period provided under the obligation of Buyer) the Close of EscrowLeases and any brokerage or leasing commissions, finders fees or similar payments and legal expenses relating thereto.