Apportionments at Closing. The following are to be apportioned at closing based on a thirty (30) day month and three hundred sixty (360) day year and in accordance with local customs: taxes, fuel oil, water/sewer charges.
Apportionments at Closing. The Parties shall pro-rate the following as of 11:59 p.m. on the day immediately preceding the respective Closing Date (the “Apportionment Date”) on the basis of the actual number of days of the month which shall have elapsed as of the Closing Date and based upon the actual number of days in the month and a 365-day year:
(a) any assessments (including any assessments relating to Permitted Exceptions, business improvement district assessments or similar charges), water rates and charges, and sewer taxes, in accordance with the terms of Section 9.2 below;
(b) all other costs and expenses of operating the Property customarily apportioned in connection with sales of properties substantially similar to the Property in the city and county where such Property is located.
Apportionments at Closing. Section 13.01 The following apportionments shall be made between the parties at the Closing as of the close of business on the day prior to the Closing Date:
13.01.1 prepaid rents and additional rents;
13.01.2 real estate taxes, water rates and charges, sewer taxes and rents and vault taxes and charges, if any, on the basis of the fiscal period for which assessed, except that if there is a water meter on the Property, apportionment at the Closing shall be as specified in Section 13.04;
13.01.3 annual license, permit and inspection fees, if any;
13.01.4 electricity charges which are supplied to the Property;
13.01.5 maintenance and operating supplies stored at the Property and where applicable, in unopened containers or in unbroken boxes, at Seller’s cost therefor;
13.01.6 fuel, if any, then stored at the Property on the basis of Seller’s last cost therefor, as evidenced by a written statement of Seller’s fuel oil supplier; and
13.01. 7 charges under the Service Contracts being assigned at Closing.
Section 13.02 If the Closing shall occur before a new tax rate is fixed, the apportionment of taxes at the Closing shall be upon the basis of the old tax rate for the preceding period applied to the latest assessed valuation. Promptly after the new tax rate is fixed, the apportionment of taxes shall be recomputed. Any discrepancy resulting from such recomputation and any errors or omissions in computing apportionments at Closing shall be promptly corrected, which obligations shall survive the Closing.
Section 13.03 If any Tenant is in arrears in the payment of rent on the Closing Date, rents received from such Tenant 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 any month or months following the month in which the Closing occurred; and (c) then to the period prior to the month in which the Closing occurred. If rents or any portion thereof received by Seller or Purchaser after the Closing are payable to the other party by reason of this allocation, the appropriate sum, less a proportionate share of any reasonable attorneys’ fees, costs and expenses of collection thereof, shall be promptly paid to the other party. Following the Closing, Purchaser hereby agrees to xxxx Tenants for all rents and charges as provided by their respective Leases, and Purchaser shall use commercially reasonable efforts to collect any and all rents and charges due pursuant thereto; it being understoo...
Apportionments at Closing. 7.01. All items customarily apportioned at a closing of title including, without limitation, real estate taxes, sewer assessments and sewer use charges and water charges shall be apportioned as of 11:59 p.m. of the day immediately preceding the closing Date.
Apportionments at Closing. Section 13.01 The following apportionments shall be made between the parties at the Closing as of the close of business on the day prior to the Closing Date with respect to each Property:
13.01.1 prepaid rents and additional rents;
Apportionments at Closing. The Parties shall prorate the following as of 11:59 p.m. on the day immediately preceding the Closing Date on the basis of the actual number of days of the month which shall have elapsed as of the Closing Date and based upon the actual number of days in the month and a 366-day year:
Apportionments at Closing. The Parties shall prorate the following as of 11:59 p.m. on the day immediately preceding the Closing Date on the basis of the actual number of days of the month which shall have elapsed as of the Closing Date and based upon the actual number of days in the month and a 366-day year:
(a) Rent and any other amounts due under the Ground Lease;
(b) Property Taxes, in accordance with the terms of Section 12.02 below;
(c) All water, sewer, electric, natural gas, telephone and other utility charges based on the last ascertainable xxxx unless meter readings are made as of the Closing Date;
(d) Any charges or fees for transferable Licenses and Permits for the Property; and
(e) Payments under any Assumed Contracts which Purchaser has agreed to assume at the Closing.
Apportionments at Closing. The following apportionments and prorations shall be computed as of the Closing Date. All such items, to the extent they cannot be precisely determined at Closing, shall be estimated at Closing shall be resolved no later than thirty (30) days after the Closing Date. The Cash Purchase Price shall be adjusted as follows:
Apportionments at Closing. The real estate taxes are to be apportioned as of midnight on the day preceding the Closing.
Apportionments at Closing
