Common use of Additional Rent Adjustment Clause in Contracts

Additional Rent Adjustment. Seller and Purchaser shall prorate the actual amount of additional rent paid by each Tenant for such Tenant's applicable fiscal year ("Tenant's Fiscal Year"), as follows: (1) Seller shall be entitled to the portion of the actual amount of additional rent paid by the Tenant equal to the product obtained by multiplying such amount by a fraction, the numerator of which is the number of days in the Tenant's Fiscal Year preceding the Closing Date and the denominator of which is the total number of days in the Tenant's Fiscal Year; and (2) Purchaser shall be entitled to the balance of the additional rent paid by the Tenant. If the sum of all interim payments of additional rent collected and retained by Seller from each Tenant for the Tenant's Fiscal Year exceeds the amount of such additional rent to which Seller is entitled with respect to such Tenant pursuant to paragraph (1) above, Seller shall pay such excess to Purchaser. If the sum of all interim payments of such additional rent collected and retained by Purchaser from each Tenant for the Tenant's Fiscal Year exceeds the amount of additional rent to which Purchaser is entitled with respect to such Tenant pursuant to paragraph (2) above, Purchaser shall pay the excess to Seller. The adjustment of interim payments received and actual additional rent paid shall be made separately for each Tenant and for each type of additional rent.