Common use of Base or Fixed Rent Clause in Contracts

Base or Fixed Rent. Base or fixed rent paid by any Tenant under a Lease (“Fixed Rent”), and additional rent and other sources of income paid by any Tenant under any Lease or any other party with respect to the Properties (“Other Income”), shall be prorated as of the Applicable Adjustment Time. Purchaser shall receive a credit at the Respective Closing for any Fixed Rent or Other Income actually received by the Seller Parties on or prior to the Applicable Adjustment Time for the rent period in which the Respective Closing occurs in an amount equal to the Fixed Rent or Other Income for such rent period multiplied by a fraction, the numerator of which is the number of days from and including the Respective Closing Date through and including the last day of the rent period in which the Respective Closing occurs, and the denominator of which is the total number of days in the rent period in which the Respective Closing occurs. The Seller Parties shall receive a credit at the Respective Closing for any Fixed Rent or Other Income payable in the rent period in which the Respective Closing occurs but not yet received by the Seller Party in an amount equal to the unpaid Fixed Rent or Other Income multiplied by a fraction, the numerator of which is the number of days from and including the first day of the rent period in which the Respective Closing occurs through the Applicable Adjustment Time, and the denominator of which is the total number of days in the rent period in which the Respective Closing occurs.

Base or Fixed Rent. Base or fixed rent paid by any Tenant under a Lease (“Fixed Rent”), and additional rent and other sources of income paid by any Tenant under any Lease or any other party with respect to the Properties (“Other Income”), shall be prorated as of the Applicable Adjustment Time. Purchaser shall receive a credit at the Respective Closing for any Fixed Rent or Other Income actually received by the Seller Parties on or prior to the Applicable Adjustment Time for the rent period in which the Respective Closing occurs in an amount equal to the Fixed Rent or Other Income for such rent period multiplied by a fraction, the numerator of which is the number of days from and including the Respective Closing Date through and including the last day of the rent period in which the Respective such Closing occurs, and the denominator of which is the total number of days in the rent period in which the Respective such Closing occurs. The Seller Parties shall receive a credit at the Respective Closing for any Fixed Rent or Other Income payable in the rent period in which the Respective Closing occurs but not yet received by the Seller Party in an amount equal to the unpaid Fixed Rent or Other Income multiplied by a fraction, the numerator of which is the number of days from and including the first day of the rent period in which the Respective Closing occurs through the Applicable Adjustment Time, and the denominator of which is the total number of days in the rent period in which the Respective Closing occurs.