Common use of Closing Prorations Clause in Contracts

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: