Common use of Base Rents Clause in Contracts

Base Rents. Buyer will receive a credit at Closing for all rents other than CAM Charges (hereinafter defined) collected by Seller prior to the Closing Date to the extent such rents are allocable to the period from and after the Closing Date based upon the actual number of days in the month. No credit shall be given Seller at Closing for accrued and unpaid rents other than CAM Charges until these sums are paid, and Seller shall retain the right to collect any such rent provided Seller does not xxx to evict any Tenants or terminate any Tenant Leases. Buyer shall cooperate with the Seller after the Closing Date to collect any rent under the Tenant Leases which has accrued as of the Closing Date; provided, however, Buyer shall not be obligated to xxx any Tenants or exercise any legal remedies under the Tenant Leases or to incur any expense over and above its own regular collection expenses. All rents other than CAM Charges collected from Tenants after the Closing Date by Buyer or Seller shall first be applied to the calendar month in which the Closing occurs (apportioned between Buyer and Seller), then to any rent due to Buyer for the period after the calendar month in which the Closing occurs and finally to any rent due to Seller for the periods prior to the calendar month in which the Closing occurs; provided, however, notwithstanding the foregoing, if Seller collects any payments from Tenants after the Closing Date through its own collection efforts, Seller may first apply such payments to rent due Seller for the period prior to the Closing Date.