Common use of Preparation of Prorations Clause in Contracts

Preparation of Prorations. At least five (5) days before the Closing Date, Seller shall work with the Escrow Agent to have Escrow Agent prepare and deliver to Purchaser an unaudited statement (the “Preliminary Settlement Statement”) showing allocations and prorations described in this Contract, calculated as of 11:59 p.m. on the day preceding the Closing Date, on the basis of a three hundred sixty five (365) day year. Purchaser and its representatives shall be afforded reasonable access to Seller’s books and records with respect to the Premises to confirm the accuracy of the Preliminary Settlement Statement. Purchaser and Seller shall agree upon any final adjustments to be made to the Preliminary Settlement Statement no later than two (2) Business Days prior to the Closing Date, and Escrow Agent shall prepare and distribute the final settlement statement (the “Settlement Statement”) to the parties hereto no later than one (1) Business Day prior to the Closing Date.