Common use of Prorations at Closing Clause in Contracts

Prorations at Closing. Real estate taxes for the current year, rentals and insurance premiums (acceptable to BUYER), interest on encumbrances, and operating expenses (for service contracts or other obligations assumed by BUYER), if any, shall be prorated as of the date of closing.

Prorations at Closing. Real estate taxes for the current year, rentals and insurance premiums (acceptable to BUYERPurchaser), interest on encumbrances, and operating expenses (for service contracts or other obligations assumed by BUYERPurchaser), if any, shall be prorated as of the date of closing.