Common use of Payments for Adjustments Clause in Contracts

Payments for Adjustments. Any net credit due Seller or Buyer, as the case may be, shall be paid to Seller or Buyer, as the case may be, within seventy-five (75) days after the delivery of a Supplemental Proration Statement to Seller, unless Seller approves any such statement before the expiration of the applicable sixty (60) day period provided in Section 8.2(b) above , in which case such payment shall be made within fifteen (15) days after Seller notifies Buyer of such approval, or unless Seller notifies Buyer of a disagreement with respect to any such statement as provided in Section 8.2(b) above , in which case such payment (less a hold back sufficient to cover the amount of the disagreement) shall be made within fifteen (15) days after Seller notifies Buyer of such disagreement, and any further payment due after such disagreement is resolved shall be paid within fifteen (15) days after the resolution of such disagreement.

Appears in 1 contract

Sources: Purchase and Sale Agreement (GK Investment Holdings, LLC)

Payments for Adjustments. Any net credit due Seller or BuyerPurchaser, as the case may be, shall be paid to Seller or BuyerPurchaser, as the case may be, (A) with respect to those items payable by any Space Tenant under its respective Space Lease, within seventy-five (75) days after the delivery date payment of any such amount is made by such Space Tenant to Purchaser and (B) with respect to all other items, in accordance with the terms of this Contract or as otherwise reflected on a Supplemental Proration Statement delivered to Seller, unless Seller approves any such statement before the expiration of the applicable sixty (60) day period provided in Section 8.2(b) above , in which case such payment shall be made within fifteen (15) days after Seller notifies Buyer of such approval, or unless Seller notifies Buyer Purchaser of a disagreement with respect to any such statement as provided in Section 8.2(b9.4(b)(iv) above above, in which case such payment (less a hold back sufficient to cover the amount of the disagreement) shall be made within fifteen (15) days after Seller notifies Buyer Purchaser of such disagreement, and any further payment due after such disagreement is resolved shall be paid within fifteen (15) days after the resolution of such disagreement.

Appears in 1 contract

Sources: Contract of Sale (American Realty Capital - Retail Centers of America, Inc.)

Payments for Adjustments. Any net credit due Seller or Buyer, as the case may be, shall be paid to Seller or Buyer, as the case may be, within seventy-five (75) days after the delivery of a Supplemental Proration Statement to Seller, unless Seller approves any such statement before the expiration of the applicable sixty (60) day period provided in Section 8.2(b) above above, in which case such payment shall be made within fifteen (15) days after Seller notifies Buyer of such approval, or unless Seller notifies Buyer of a disagreement with respect to any such statement as provided in Section 8.2(b) above above, in which case such payment (less a hold back sufficient to cover the amount of the disagreement) shall be made within fifteen (15) days after Seller notifies Buyer of such disagreement, and any further payment due after such disagreement is resolved shall be paid within fifteen (15) days after the resolution of such disagreement.

Appears in 1 contract

Sources: Purchase and Sale Agreement (KBS Strategic Opportunity REIT, Inc.)