Common use of Base or Fixed Rent Clause in Contracts

Base or Fixed Rent. With respect to each Property, base or fixed rent (“Fixed Rent”) paid by any Tenant under the applicable Lease shall be prorated on an “if and when collected basis” as of the applicable Adjustment Time. The Purchaser Parties shall receive a credit at the Closing for any base or fixed rent paid by a Tenant to the applicable Seller Party or Purchased Entity with respect to a Property for the rent period in which such Closing occurs in an amount equal to the rent paid for such rent period multiplied by a fraction, the numerator of which is the number of days from and including the applicable Closing Date through and including the last day of the rent period in which the applicable Closing occurs, and the denominator of which is the total number of days in the rent period in which the applicable Closing occurs.

Base or Fixed Rent. With respect to each Property, base or fixed rent (“"Fixed Rent”") paid by any Tenant under the applicable Lease shall be prorated on an “"if and when collected basis” " as of the applicable Adjustment Time. The Purchaser Parties shall receive a credit at the Closing for any base or fixed rent paid by a Tenant to the applicable Seller Party or Purchased Entity with respect to a Property for the rent period in which such Closing occurs in an amount equal to the rent paid for such rent period multiplied by a fraction, the numerator of which is the number of days from and including the applicable Closing Date through and including the last day of the rent period in which the applicable Closing occurs, and the denominator of which is the total number of days in the rent period in which the applicable Closing occurs.