Common use of Reimbursable Proposals Clause in Contracts

Reimbursable Proposals. (a) During the period from the date hereof through to the Closing Date, Sellers shall have the option of presenting to the Company one or more proposals for capital expenditures, tenant inducements (e.g., free rent, other cash-equivalent inducements, and out-of-pocket inducements) or commissions, specifying the budgeted amounts therefor, that one or more ▇▇▇▇▇▇ Partnerships are contemplating in connection with one or more new Commercial Leases or the lease of additional space to an existing Commercial Tenant (each such capital expenditure, tenant inducement or commission proposal, a "Reimbursable Proposal"). In addition, the parties hereto acknowledge that on or prior to the date of this Agreement, Sellers have presented to the Company, and the Company has approved, the Reimbursable Proposals and the budgeted amounts therefor listed on Schedule 6.3 of the Seller Disclosure Letter. (b) To the extent any one or more Reimbursable Proposals with respect to any Participating ▇▇▇▇▇▇ Partnership have been approved by the Company on or prior to the date hereof or are approved by the Company (which approval shall not be unreasonably withheld or delayed) subsequent to the date hereof, the Company shall make a cash contribution to such Participating ▇▇▇▇▇▇ Partnership, prior to the distributions contemplated by Section 2.4(c) hereof, in an amount equal to the Capital Expenditure Reimbursement for such Participating ▇▇▇▇▇▇ Partnership which shall be taken into consideration in the determination of the Excess Cash Balance of such Participating ▇▇▇▇▇▇ Partnership in accordance with the Excess Cash Balance Schedule for such Participating ▇▇▇▇▇▇ Partnership. (c) For purposes of this Agreement, the following terms shall have the following meanings:

Reimbursable Proposals. (a) During the period from the date hereof through to the Closing Date, Sellers shall have the option of presenting to the Company one or more proposals for capital expenditures, tenant inducements (e.g., free rent, other cash-equivalent inducements, and out-of-pocket inducements) or commissions, specifying the budgeted amounts therefor, that one or more McNeil Partnerships are contemp▇▇▇▇▇▇ Partnerships are contemplating in connection with one or more new Commercial Leases or the lease of additional space to an existing Commercial Tenant (each such capital expenditure, tenant inducement or commission proposal, a "Reimbursable Proposal"). In addition, the parties hereto acknowledge that on or prior to the date of this Agreement, Sellers have presented to the Company, and the Company has approved, the Reimbursable Proposals and the budgeted amounts therefor listed on Schedule 6.3 of the Seller Disclosure Letter. (b) To the extent any one or more Reimbursable Proposals with respect to any Participating McNeil Partnership have been a▇▇▇▇▇▇ Partnership have been approved ▇d by the Company on or prior to the date hereof or are approved by the Company (which approval shall not be unreasonably withheld or delayed) subsequent to the date hereof, the Company shall make a cash contribution to such Participating McNeil Partnership, prior to the ▇▇▇▇▇▇ Partnership, prior to the distributions ▇butions contemplated by Section 2.4(c) hereof, in an amount equal to the Capital Expenditure Reimbursement for such Participating McNeil Partnership which shall b▇ ▇▇▇▇▇▇ Partnership which shall be taken n into consideration in the determination of the Excess Cash Balance of such Participating McNeil Partnership in accordan▇▇ ▇▇▇▇▇▇ Partnership in accordance with th the Excess Cash Balance Schedule for such Participating ▇▇▇▇▇▇ McNeil Partnership. (c) For purposes of this Agreement, the following terms shall have the following meanings: