Allocation of Rent Payments. Landlord shall apply all monies received from Tenant in the following order: (1)rent, (2) other charges and fees due from Tenant.
Allocation of Rent Payments. If any tenant is in arrears in the payment of rent at the Closing, rents received from such tenant within thirty (30) days after the Closing shall be applied in the following order of priority: (a) first to the month in which the Closing occurred, (b) then to the period prior to the month in which the Closing occurred, and (c) then to any month or months following the month in which the Closing occurred. If rents or any portion thereof received by Seller of Buyer after the Closing are payable to the other party by reason of this allocation, the appropriate sum shall be paid to the other party within thirty (30) days from the receipt thereof, which obligation shall survive the Closing. Thereafter, Seller shall be entitled to attempt to collect from tenants any rents which were due Seller prior to Closing, but Buyer shall have no further obligations with respect thereto.
