Common use of Calculation of Prorations Clause in Contracts

Calculation of Prorations. All prorations shall be made on the basis of the actual number of days of the year and month which have elapsed as of the day prior to the Closing. The amount of proration shall be adjusted in cash after the Closing, as and when complete and accurate information becomes available. Seller and Buyer shall cooperate in making post-closing adjustments to prorations, within thirty (30) days following Closing or as soon as practicable thereafter.

Appears in 2 contracts

Sources: Purchase and Sale Agreement, Purchase and Sale Agreement (Inland Diversified Real Estate Trust, Inc.)