Additional Prorations. For matters not set forth, such as utilities, which cannot be prorated at Closing, Transferee shall receive a credit at Closing for an amount equal to the previous month’s invoice for such matter(s) (“Credit”) which Transferee shall hold for use in payment of the invoice when it is received, prorating the invoice for the period prior to Closing for which Transferor shall be responsible. For all sums for which Transferee receives a Credit hereunder, Transferee shall account (or the parties shall cause the property manager under the Property Management Agreement to account) for all invoices within sixty (60) days following Closing. Any portion of the Credit not used to pay Transferor’s portion of any invoices shall be refunded to Transferor at the expiration of this sixty (60) day period. A proration accounting shall also be delivered to Transferor with any refund. Any shortfall shall be paid to Transferee by Transferor upon demand.
Additional Prorations. In addition to each proration set forth in this Section 10, Seller shall be entitled to the payment in cash of the amounts set forth in Schedule 2 attached hereto and incorporated herein by reference.
Additional Prorations. All remaining bills and expenses of every nature relating to the Property incurred by Seller for the period ending on the day immediately preceding the Closing Date shall be paid by Seller, except for any such expenses incurred by or at the direction of Purchaser, all of which shall be paid by Purchaser. All expenses or costs arising or incurred on or after the Closing Date for the Property shall be paid by Purchaser. Within sixty (60) days after Closing, the parties agree to conduct a post-Closing reconciliation of those items required to be prorated.
Additional Prorations. Payments under the Contracts, Equipment Leases, Vehicle Leases, Software Licenses, and all other agreements and contracts which are included in the Assets shall be prorated between Karrington and Seller on the basis of a 365-day year as of the Closing Date.
Additional Prorations. Payments under the Contracts, Equipment Leases, Vehicle Leases, Software Licenses, and all other agreements and contracts which are included in the Assets shall be prorated between Karrington and Buffalo Hills Residence on the basis of a 365-day year as of the Closing Date.
Additional Prorations. To the extent not prorated at Closing pursuant to Section 1.4(c), (i) utility costs, property taxes and other revenues and expenses with respect to the Assets and the Contracts shall be prorated between Seller and Buyer as soon as reasonably practicable as of the Effective Time, and (ii) settlement of such items shall occur within five (5) business days after receipt of a request therefor accompanied by evidence that such proration and payment is required hereunder.
Additional Prorations. Payments under the Contracts, Equipment Leases, Vehicle Leases, Software Licenses, and all other agreements and contracts which are included in the Assets shall be prorated between Karrington and CKMI Partnership on the basis of a 365-day year as of the Closing Date.
Additional Prorations. The following are to be apportioned between Buyer and Seller as of midnight on the date preceding the Closing Date:
(a) Water, sewer, gas, electric, vault and fuel charges, if any;
(b) Operating expenses for the Property including sums due or already paid pursuant to any Contracts; and
(c) Amounts paid pursuant to all transferable licenses and permits, on the basis of the fiscal year for which levied.
Additional Prorations. All current rent and other income from the Property and security deposits and all current assessments, utilities, maintenance charges and similar expenses of the Property shall be prorated between the parties as of the Closing Date and, to the extent of information then available, such prorations shall be made at the Closing. For matters which cannot be prorated at Closing, both parties shall create three (3) accountings, (i) thirty (30) days, (ii) ninety (90) days, and (iii) at the end of the calendar year 1997, to determine any shortfalls or over payments due to the other. Any sums owed to the other shall be paid as determined at each accounting period. These provisions survive Closing.
Additional Prorations. Payments under the Contracts, Equipment Leases, Vehicle Leases, Software Licenses, and all other agreements and contracts which are included in the Assets shall be prorated between Karrington and Kensington-Iowa on the basis of a 365-day year as of the Closing Date.
