Assessment Installments. If there are special assessments pending against the Property, Seller shall pay any installments of such special assessments that are due and payable prior to the Closing and Purchaser shall pay all installments of such special assessments on or after the Closing; provided, however, Seller shall not be required to pay any installments of special assessments that relate to projects that have not been completed as of the Effective Date.
Assessment Installments. If as of the Closing Date the Property is encumbered or otherwise affected by any assessment (whether or not a lien) which is or may become payable in installments (which the Tenant is not required to pay under the provisions of the Lease), then for the purposes of this Agreement, all unpaid installments of such assessments shall be deemed to have become due and payable prior to the Closing Date and Purchaser shall be entitled to receive a credit against the Purchase Price in an amount equal to all unpaid installments of such assessments, and in such event Purchaser shall take title to the Membership Interests (and indirectly, the Property) subject to the unpaid installments not yet due and payable.
Assessment Installments. If, as of the applicable Closing Date, the subject Phase is encumbered or otherwise affected by any assessment (whether or not a lien) which becomes payable in installments, for the installment that is due in payable in the year in which the applicable Closing occurs, Seller shall credit Purchaser with the pro-rata portion of such installment from January 1 of the year of such Closing to the applicable Closing Date, except for an amount that would be equal to the Lump Sum Non-Credit. Such pro-ration shall be made on the basis that the number of days from January 1 of the year of the applicable Closing to, but excluding, the applicable Closing Date bears to three hundred and sixty five (365) days. The portion of Real Estate Tax Rent applicable to the installment of assessment payable in the year of the applicable Closing that pertains to the period prior to the applicable Closing and which was paid to Seller by Tenants or New Tenants shall be retained by Seller. Any Real Estate Tax Rent applicable to such installment or assessment that was received by Seller prior to the applicable Closing Date that pertains to the period on or subsequent to such 38 44 Closing Date shall be credited to Purchaser at such Closing. Any Real Estate Tax applicable to such installment of assessment received by Purchaser after the applicable Closing Date that pertains to the period prior to such Closing Date (except that which is a Lump Sum Non-Credit) shall be paid by Purchaser to Seller. If any Tenant or New Tenant who pays their respective Real Estate Tax Rent on a lump sum basis and for whom a Lump Sum Non-Credit was provided, Seller shall remain responsible for Lump Sum Non-Credit as provided in Paragraph 14.06.
Assessment Installments. The Property Owner agrees to the issuance of bonds by the Authority to finance the installation of the Improvements. The interest rate used to calculate the Initial Assessment installments set forth on Exhibit C is identified on Exhibit A. If the Authority determines in its reasonable discretion that the Initial Assessment installments may be reduced because the applicable interest rate on the bonds issued to finance installation of the Improvements is lower than the interest rate specified in Exhibit A, then the Authority may substitute a revised Exhibit C for the attached Exhibit C, shall provide a copy of such revised Exhibit C to the Property Owner and shall cause a notice of such revision to be recorded in the office of the County Recorder.
Assessment Installments. If as of the Closing Date the Property is encumbered or otherwise affected by any special assessment (whether or not a lien) which is or may become payable in installments (which the Tenant is not required to pay under the provisions of the Lease), then for the purposes of this Agreement, all installments of such assessments that are due and payable prior to the Closing Date shall either be paid directly by Seller, or Purchaser shall be entitled to receive a credit against the Purchase Price in an amount equal to all unpaid installments of such assessments, and in such event Purchaser shall take title to the Property subject to the unpaid installments not yet due and payable.
Assessment Installments. If, as of the Closing Date, the Project is encumbered or otherwise affected by any assessment (whether or not a lien) which becomes payable in installments, for the installment that is due in payable in 1996, Seller shall credit Purchaser with the pro-rata portion of such installment from January 1, 1996 to the Closing Date, except for an amount that would be equal to the Lump Sum Non-Credit. Such pro-
Assessment Installments. If there are special assessments pending against the Property, City shall pay any installments of such special assessments that are due and payable prior to the Closing and Developer shall pay all installments of such special assessments on or after the Closing; provided, however, that City shall not be required to pay any installments of special assessments that relate to projects that have not been completed as of the Effective Date.
Assessment Installments. The Property Owner agrees to the issuance of bonds by SANBAG to finance the installation of the Improvements. The interest rate used to calculate the Assessment installments set forth on Exhibit B is identified on Exhibit B. If SANBAG determines in its reasonable discretion that the Assessment installments may be reduced because the applicable interest rate on the bonds issued to finance installation of the Improvements is lower than the interest rate specified in Exhibit B, or if the cost of the Improvements, as shown in a final invoice provided to SANBAG by the Property Owner, is less than the amount shown on Exhibit B, then, concurrently with the disbursement of funds to the Property Owner, SANBAG may provide the Property Owner with a schedule of annual Assessment installments that provides for annual installments that are less than those set forth in the attached Exhibit B.
Assessment Installments. Notwithstanding anything in this Agreement to the contrary; if as of the Closing Date any one of the individual parcels making up the Real Property is encumbered or otherwise affected by any assessment (whether or not a lien) which is or may become payable in installments (which the Tenant is not required to pay under the provisions of the applicable Lease), then for the purposes of this Agreement, all unpaid installments of such assessments shall be deemed to have become due and payable prior to the Closing Date and Purchaser shall be entitled to receive a credit against the Purchase Price in an amount equal to all unpaid installments of such assessments, and in such event Purchaser shall take title to the Real Property subject to the unpaid installments not yet due and payable.
Assessment Installments. If, as of the Closing Date, the Project is encumbered or otherwise affected by any assessment (whether or not a lien) which becomes payable in installments, for the installment that is due and payable in the year in which the Closing occurs, Seller shall credit Purchaser with the pro-rata portion of such installment from January 1 of the year of the Closing to the applicable Closing Date. Such pro-ration shall be made on the basis that the number of days from January 1 of the year of the Closing to, but excluding, the Closing Date bears to three hundred and sixty five (365) days. The portion of Real Estate Tax Rent applicable to the installment of assessment payable in the year of the Closing that pertains to the period prior to the Closing and which was paid to Seller by Tenants or New Tenants shall be retained by Seller. Any Real Estate Tax Rent applicable to such installment or assessment that was received by Seller prior to the Closing Date that pertains to the period on or subsequent to such Closing Date shall be credited to Purchaser at the Closing. Any Real Estate Tax Rent applicable to such installment of assessment received by Purchaser after the Closing Date that pertains to the period prior to such Closing Date shall be paid by Purchaser to Seller.
