ALLOCATION OF INCOME AND EXPENSES. This is an absolute, pure net lease; and, except as otherwise expressly provided in this Lease, LESSEE shall have and hereby assumes all duties and obligations with relation to the repair, maintenance, existence and operation of the Leased Premises and all other improvements or fixtures now or hereafter located during the Term of this Lease, irrespective of law or custom.
ALLOCATION OF INCOME AND EXPENSES. Except as expressly provided herein, all income and expenses attributable to the operation of the Purchased Assets (measured on an accrual basis) prior to the Closing Date shall be for the account of the Sellers. Except as expressly provided herein, commencing at 12:01 a.m. (Eastern Standard Time) on the Closing Date, such income and expense shall be for the account of Purchaser.
ALLOCATION OF INCOME AND EXPENSES. The Trustee shall have the power to determine what is the corpus and what is the gross net income of the estate and to allocate between principal and income any loss or expenditure in connection with the Trust, and if deemed advisable to amortize any loss out of the income.
ALLOCATION OF INCOME AND EXPENSES. All revenue from loads picked up prior to 11:59 p.m. CDT on the Effective Date shall belong to Seller, and all revenue from loads picked up after 11:59 p.m. CDT on the Effective Date (the "Post-Closing Loads") shall belong to Purchaser. As soon as reasonably practicable after the Effective Date, but in any event within thirty (30) days following the Effective Date, representatives of Seller and Purchaser shall examine all relevant books and records of the Business as of the Effective Date to determine (i) the time and date of delivery and the division of revenue from loads in transit immediately prior to and/or immediately after the Effective Date and (ii) the amount of direct expenses incurred by Seller for Post-Closing Loads (the "Direct Expenses"). Direct Expenses shall be calculated at One Dollar ($1.00) per mile for the billed miles and return miles of the Post-Closing Load. Purchaser shall promptly reimburse Seller for the Direct Expenses within ten (10) business days after determination. If the parties are unable to agree on the amount of the reimbursement for Direct Expenses, the dispute resolution provisions of Section 8.8 shall apply. 1.7
ALLOCATION OF INCOME AND EXPENSES. For accounting purposes, the income and expenses arising out of or resulting from the operation of the Stations through 12:01 AM on April 1, 2002, shall be for the account of Lessors and thereafter for the account of Licensee, provided that any Cash received by Licensee in respect of the Stations' operations shall be applied toward rent pursuant to Section 2.3 hereof.
ALLOCATION OF INCOME AND EXPENSES. (a) The lease of the Land is an absolute net lease; and, except as otherwise expressly provided in this Lease, Lessee shall have and hereby assumes all duties and obligations with relation to the repair, maintenance, existence and operation of the Land and all other improvements or fixtures now or hereafter located by Lessee on or within the Land during the Term of this Lease, irrespective of law or custom.
ALLOCATION OF INCOME AND EXPENSES. (a) Distribution Fees and Service Fees - Each Class shall bear directly any and all Distribution Fees and/or Service Fees payable by such Class pursuant to a Plan of Distribution adopted by the Fund with respect to such Class.
ALLOCATION OF INCOME AND EXPENSES. 13 23. UTILITIES...................................................................................... 13 24. LIENS.......................................................................................... 14 25.
ALLOCATION OF INCOME AND EXPENSES. All revenue from loads delivered prior to the Effective Date (the “Pre-Closing Loads”) shall belong to the Sellers. All revenue from loads delivered on and after the Effective Date (the “Post-Closing Loads”) shall belong to Purchaser; provided, however, that any loads completed in transit and awaiting delivery in local area (within 50 miles of delivery) shall be paid to Sellers, net of any cost incurred by Purchaser and upon payment by customer. As soon as reasonably practicable after the Effective Date, but in any event within thirty (30) days following the Effective Date, representatives of Sellers and Purchaser shall examine all relevant books and records of the Business as of the Effective Date and Sellers shall assist Purchaser with collection efforts on all such Post-Closing Loads, as needed.
ALLOCATION OF INCOME AND EXPENSES. Income accrued or unpaid on trust property when received into the trust shall be treated as any other income. Except as otherwise expressly provided in this instrument, income accrued or held undistributed by the trustee at the termination of a trust shall be distributed to the next succeeding beneficiaries of the trust in proportion to their interest in that income. Among successive beneficiaries of a trust, all taxes and current expenses shall be prorated on a daily basis and charged to the period to which they relate.
