Common use of Fixed Rent Clause in Contracts

Fixed Rent. prepaid Fixed Rent will be prorated as of the Proration Date. All other Fixed Rent which is delinquent on the Proration Date will not be prorated. All such arrearages of Fixed Rent unpaid on the Proration Date will remain the sole and exclusive property of Seller after Closing, provided, however, if, after Closing, Seller shall receive any such delinquent Fixed Rent, Seller will remit to Purchaser that portion of such delinquent Fixed Rent that is attributable to the period after the Proration Date, if any. Seller shall retain all right, title, power and authority to enforce payment thereof after Closing, except that Seller will not have the right to terminate the Lease of a delinquent tenant after Closing due to such delinquency. If, after Closing, Purchaser or its designee shall receive any delinquent Fixed Rents (this provision shall not relate to percentage rents) Purchaser may first apply such payments to rent delinquencies which relate to any period after the Proration Date, and Purchaser agrees, on its behalf and on behalf of its designee, to immediately remit the balance to Seller.

Fixed Rent. prepaid Fixed Rent will be prorated as of the Proration DateDate with Seller being entitled to Fixed Rent for the Proration Date and Purchaser being entitled to Fixed Rent thereafter. All other Fixed Rent which is delinquent on the Proration Date will not be prorated. All such arrearages of Fixed Rent unpaid on the Proration Date will remain the sole and exclusive property of Seller after Closing, provided, however, if, after Closing, Seller shall receive any such delinquent Fixed Rent, Seller will remit to Purchaser that portion of such delinquent Fixed Rent that is attributable to the period after the Proration Date, if any. Seller shall retain all right, title, power and authority to enforce payment thereof after Closing, except that Seller will not have the right to terminate the Lease of a delinquent tenant after Closing due to such delinquency. If, after Closing, Purchaser or its designee shall receive any delinquent Fixed Rents (this provision shall not relate to percentage rents) Purchaser may first apply such payments to rent delinquencies which relate to any period after the Proration Date, and Purchaser agrees, on its behalf and on behalf of its designee, to immediately remit the balance to Seller.

Fixed Rent. prepaid Fixed Rent for the month in which the Closing occurs will be prorated as of the Proration Date. All other Fixed Rent relating to any period prior to the month in which the Closing occurs, which is delinquent on the Proration Date Date, will not be prorated. All such arrearages of Fixed Rent unpaid on the Proration Date will remain the sole and exclusive property of Seller after Closing, provided, however, if, after Closing, Seller shall receive any such delinquent Fixed Rent, Seller will remit to Purchaser that portion of such delinquent Fixed Rent that is attributable to the period after the Proration Date, if any. Seller shall retain all right, title, power and authority to enforce payment thereof after Closing, except that Seller will not have the right to terminate the Lease of a delinquent tenant after Closing due to such delinquency. If, after Closing, Purchaser or its designee shall receive any delinquent Fixed Rents (this provision shall not relate to percentage rents) Rents, Purchaser may first apply such payments as follows: FIRST, to rent delinquencies which relate to any period after the Proration Date, and Purchaser agrees, on its behalf and on behalf of its designeeSECOND, to immediately remit rent delinquencies for the month of Closing, and FINALLY, any balance shall be remitted to Seller.

Fixed Rent. prepaid Fixed Rent for the month in which the Closing occurs will be prorated as of the Proration Date. All other Fixed Rent relating to any period prior to the month in which the Closing occurs, which is delinquent on the Proration Date Date, will not be prorated. All such arrearages of Fixed Rent unpaid on the Proration Date will remain the sole and exclusive property of Seller after Closing, provided, however, if, after Closing, Seller shall receive any such delinquent Fixed Rent, Seller will remit to Purchaser that portion of such delinquent Fixed Rent that is attributable to the period after the Proration Date, if any. Seller shall retain all right, title, power and authority to enforce payment thereof after Closing, except that Seller will not have the right to terminate the Lease of a delinquent tenant after Closing due to such delinquency. If, after Closing, Purchaser or its designee shall receive any delinquent Fixed Rents (this provision shall not relate to percentage rents) Rents, Purchaser may first apply such payments as follows: first, to rent delinquencies which relate to any period after the Proration Date, and Purchaser agrees, on its behalf and on behalf of its designeesecond, to immediately remit rent delinquencies for the month of Closing, and finally, any balance shall be remitted to Seller.