Common use of Final Prorations Clause in Contracts

Final Prorations. If final prorations cannot be made at the Closing for any item subject to proration under this Section 34, then, Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available and applicable reconciliation with tenants have been completed, with final adjustment to be made as soon as reasonably possible after the Closing, and in any event not later than the date that is one hundred eighty (180) days after Closing (or 365 days after Closing solely with respect to real property taxes and assessments). If either party receives any funds which belong to the other party under this Section 34, such receiving party shall pay over and/or deliver such funds to the other party (without interest thereon) within fifteen (15) Business Days after receipt.

Final Prorations. If final prorations cannot be made at the Closing for any item subject to proration under this Section 34, then, Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available and applicable reconciliation with tenants have been completed, with final adjustment to be made as soon as reasonably possible after the Closing, and in any event not later than the date that is one hundred eighty (180) days after Closing (or 365 days after Closing solely with respect to real property taxes and assessments)Closing. If either party receives any funds which belong to the other party under this Section 34, such receiving party shall pay over and/or deliver such funds to the other party (without interest thereon) within fifteen (15) 15 Business Days after receipt.