Closing Prorations Sample Clauses
Closing Prorations. 13.1. The items described in this Paragraph shall be prorated between the parties on a per diem basis (on the basis of actual calendar days and a 366-day year) so that credits and charges preceding or on 11:59 P.M. on the Closing Date shall be allocated to Seller and credits and charges for the period after 11:59 P.M. on the Closing Date and all days thereafter shall be allocated to Purchaser. As of May 1, 1997, Seller and Purchaser shall jointly prepare a final proration statement in accordance with the provisions of this Paragraph 13 and a final adjusting payment shall then be made, as provided in Paragraph 13.3 hereof.
13.1.1. Real estate taxes (on the basis of allowable discounts for early payment, to the extent the adjustment is made during the discount period), general and special assessments and the like ("Taxes") for 1996, as such Taxes may be increased or decreased after the Closing, shall be prorated as of the Closing Date based on the most recent ascertainable amount. Purchaser shall promptly bill tenants making annual payme▇▇▇ for Taxes, if any, and other tenants which are obligated to make payments for taxes other than on a monthly basis and which remain liable for Taxes for a period of Seller's ownership (said annual paying tenants and non-monthly paying tenants are hereinafter collectively referred to as "Non-Monthly Tax Payors") in accordance with their respective Leases. Upon Purchaser's receipt of the payment of Taxes by each Non-Monthly Tax Payor, said payment shall be prorated as of the Closing Date and Purchaser shall promptly pay to Seller the prorated portion of the collected Taxes pertaining to the period prior to the Closing Date.
13.1.2. Minimum rent (exclusive of delinquent rents, but including prepaid rents) and other fixed charges for operational expenses and taxes paid under the Leases ("Minimum Rent") shall be prorated as of the Closing Date.
13.1.3. Certain of the Leases provide for reimbursement to landlord of maintenance and operation charges, taxes, insurance and other expenses (herein collectively referred to as "Maintenance Expenses"). Some Leases provide for a determination of the tenant's share of Maintenance Expenses on an annual basis but provide that an estimated amount thereof (either in the aggregate or for specified components thereof) shall be paid by tenant to landlord monthly during the course of the year with a final adjustment to be made after the close of the year when such costs and expenses have been fin...
Closing Prorations. The following adjustments are to be made at the Closing as of 12:00 midnight of the day preceding the Closing Date Two: (i) water charges; (ii) sewer charges; (iii) gas; (iv) electric; (v) fuel; (vi) real estate taxes; (vii) lease income; and (viii) any other items which shall be appropriate for adjustment under local closing standards and practices.
Closing Prorations. At the Closing, all items of income and expense of the Property shall be prorated as provided in this Paragraph 5.5 on the basis of a 360-day year, actual days elapsed for the month in which the Closing occurs, as of midnight on the day immediately preceding the Closing Date. Except as provided in this Paragraph 5.5, income and expenses attributable to the period prior to the Closing Date shall be for the account of Landlord, and income and expenses attributable to the period on and after the Closing Date shall be for the account of Tenant. Property taxes and assessments shall be prorated through escrow, and all other items of income and expense shall be prorated outside of escrow on the Closing Date by the parties. Without limiting the generality of the foregoing, the following items shall be prorated through escrow as described above:
(a) Current rents collected by Landlord under the Leases. With respect to any rent receivables carried by Landlord under the Leases as of the Closing, Tenant shall pay Landlord full value in immediately available funds at the Closing and Landlord shall execute and deliver to Tenant at the Closing an assignment of all of Landlord's right, title and interest with respect thereto.
(b) Amounts paid or payable in respect of the Contracts which Tenant assumes at the Closing.
Closing Prorations. 12.1. The items described in this Paragraph shall be prorated between the parties on a per diem basis (on the basis of actual calendar days in the relevant calendar year) so that credits and charges preceding or on 11:59 P.M. on the day preceding the Closing Date shall be allocated to Seller and credits and charges for the period after 11:59 P.M. on the day preceding the Closing Date and all days thereafter shall be allocated to Purchaser. Each payment received shall be attributed to the most recent period for which such a payment is due. As of July 1, 1997, Seller and Purchaser shall jointly prepare a final proration statement in accordance with the provisions of this Paragraph 12 and a final adjusting payment shall then be made, as provided in Paragraph 12.3 hereof.
12.1.1. Real estate taxes (on the basis of allowable discounts for early payments), general and special assessments and the like ("Taxes") for the year of the Closing Date, as such Taxes may be increased or decreased after the Closing, shall be prorated as of the Closing Date based on the most recent ascertainable amount as part of the proration of "Maintenance Expenses" (hereinafter defined) in Paragraph 12.
Closing Prorations. The following amounts or items shall be prorated, credited or added to the Purchase Price at Closing, and except to the extent otherwise provided herein, shall adjust the Purchase Price. All prorations shall be made as of midnight of the day prior to Closing such that Purchaser shall receive all income and shall be responsible for all expenses on the Closing Date (hereinafter defined).
Closing Prorations. The following items shall be prorated and adjusted between the Seller and the Purchaser as of 11:59 p.m. on the day preceding the Closing Date:
Closing Prorations. The following matters shall be prorated as of the Closing Date: current real property taxes and assessments and utilities.
Closing Prorations. At the Closing, all items of income and expense of the Property shall be prorated as provided in this Section 11.5 on the basis of a 365-day year, actual days elapsed for the month in which the Closing occurs, as of 11:59 p.m. on the day immediately preceding the Closing Date. If there is any delinquency or unpaid rent under the Zynga Lease as of the Closing Date, then Buyer shall pay to Seller at Closing all such delinquencies and unpaid rent. Except as provided in this Section 11.5, income and expenses attributable to the period prior to the Closing Date shall be for the account of Seller, and income and expenses attributable to the period on and after the Closing Date shall be for the account of Buyer. Property taxes and assessments, and all other items of income and expense related to the Property shall be prorated through Escrow on the Closing Date by the parties. Percentage rents payable under the Leases with respect to periods on or before the Closing Date shall be paid by Buyer to Seller within five (5) business days of receipt. Without limiting the generality of the foregoing, the following items shall be prorated through Escrow as described above:
Closing Prorations. The items in subsections (i) through (v) of this Section 7.5.1 shall be prorated between Transferor and Transferee as of the close of the day immediately preceding the Closing Date, the Closing Date being a day of income and expense to Transferee:
Closing Prorations. Buyer shall be responsible for all title insurance costs and escrow fees. Any and all transfer taxes and state and local documentary stamp or recording fees (including costs to record the Deeds and any lien release documents) will be paid by Buyer. Seller and Buyer shall be responsible for the fees of their respective attorneys. All other Closing and transaction costs shall be paid by Buyer.