Common use of Closing Prorations Clause in Contracts

Closing Prorations. At the Closing, all items of income and expense of the Property shall be prorated as provided in this Paragraph 5.5 on the basis of a 360-day year, actual days elapsed for the month in which the Closing occurs, as of midnight on the day immediately preceding the Closing Date. Except as provided in this Paragraph 5.5, income and expenses attributable to the period prior to the Closing Date shall be for the account of Landlord, and income and expenses attributable to the period on and after the Closing Date shall be for the account of Tenant. Property taxes and assessments shall be prorated through escrow, and all other items of income and expense shall be prorated outside of escrow on the Closing Date by the parties. Without limiting the generality of the foregoing, the following items shall be prorated through escrow as described above: (a) Current rents collected by Landlord under the Leases. With respect to any rent receivables carried by Landlord under the Leases as of the Closing, Tenant shall pay Landlord full value in immediately available funds at the Closing and Landlord shall execute and deliver to Tenant at the Closing an assignment of all of Landlord's right, title and interest with respect thereto. (b) Amounts paid or payable in respect of the Contracts which Tenant assumes at the Closing.

Closing Prorations. At the Closing, all items of income ------------------ and expense of the Property shall be prorated as provided in this Paragraph 5.5 ------------- on the basis of a 360-day year, actual days elapsed for the month in which the Closing occurs, as of midnight on the day immediately preceding the Closing Date. Except as provided in this Paragraph 5.5, income and expenses attributable ------------- to the period prior to the Closing Date shall be for the account of Landlord, and income and expenses attributable to the period on and after the Closing Date shall be for the account of Tenant. Property taxes and assessments shall be prorated through escrow, and all other items of income and expense shall be prorated outside of escrow on the Closing Date by the parties. Without limiting the generality of the foregoing, the following items shall be prorated through escrow as described above: (a) Current rents collected by Landlord under the Leases. With respect to any rent receivables carried by Landlord under the Leases as of the Closing, Tenant shall pay Landlord full value in immediately available funds at the Closing and Landlord shall execute and deliver to Tenant at the Closing an assignment of all of Landlord's right, title and interest with respect thereto. (b) Amounts paid or payable in respect of the Contracts which Tenant assumes at the Closing.

Closing Prorations. At the Closing, all items of income and ------------------ expense of the Property shall be prorated as provided in this Paragraph 5.5 on ------------- the basis of a 360-day year, actual days elapsed for the month in which the Closing occurs, as of midnight on the day immediately preceding the Closing Date. Except as provided in this Paragraph 5.5, income and expenses ------------- attributable to the period prior to the Closing Date shall be for the account of Landlord, and income and expenses attributable to the period on and after the Closing Date shall be for the account of Tenant. Property taxes and assessments shall be prorated through escrow, and all other items of income and expense shall be prorated outside of escrow on the Closing Date by the parties. Without limiting the generality of the foregoing, the following items shall be prorated through escrow as described above: (a) Current rents collected by Landlord under the Leases. With respect to any rent receivables carried by Landlord under the Leases as of the Closing, Tenant shall pay Landlord full value in immediately available funds at the Closing and Landlord shall execute and deliver to Tenant at the Closing an assignment of all of Landlord's right, title and interest with respect thereto. (b) Amounts paid or payable in respect of the Contracts which Tenant assumes at the Closing.

Closing Prorations. At the Closing, all items of income and ------------------ expense of the Property shall be prorated as provided in this Paragraph 5.5 on ------------- the basis of a 360-day year, actual days elapsed for the month in which the Closing occurs, as of midnight on the day immediately preceding the Closing Date. Except as provided in this Paragraph 5.5, income and expenses attributable ------------- to the period prior to the Closing Date shall be for the account of Landlord, and income and expenses attributable to the period on and after the Closing Date shall be for the account of Tenant. Property taxes and assessments shall be prorated through escrow, and all other items of income and expense shall be prorated outside of escrow on the Closing Date by the parties. Without limiting the generality of the foregoing, the following items shall be prorated through escrow as described above: (a) Current rents collected by Landlord under the Leases. With respect to any rent receivables carried by Landlord under the Leases as of the Closing, Tenant shall pay Landlord full value in immediately available funds at the Closing and Landlord shall execute and deliver to Tenant at the Closing an assignment of all of Landlord's right, title and interest with respect thereto. (b) Amounts paid or payable in respect of the Contracts which Tenant assumes at the Closing.