Common use of Collected Rent and Other Lease Amounts Clause in Contracts

Collected Rent and Other Lease Amounts. All collected rent and other collected income for the month of Closing under the Leases shall be prorated as of the Closing Date. Buyer shall be credited with any rent and other income collected by Seller before the Closing Date but applicable to any period of time from and after the Closing Date. Uncollected rent and other income shall not be prorated on the Closing Date. Any rent received by Seller after the Closing Date with respect to time periods from and after the Closing Date shall be delivered to Buyer within ten (10) days after Seller’s receipt. Buyer shall apply rent and other income from the tenants under the Leases that are collected after the Closing Date first to the obligations then owing to Buyer for its period of ownership and to those reasonable attorney fees incurred by Buyer in collecting said amount, remitting the balance, if any, to Seller. Buyer will make reasonable efforts, without suit, to collect any delinquent rents from the tenants under the Leases applicable to any periods before the Closing Date. Seller may pursue collection as to any rent not collected by Buyer within ninety (90) days following the Closing Date, provided that Seller shall have no right to terminate any lease or any tenant’s occupancy under any lease in connection therewith. Seller is not restricted in any way from collecting any rent or other income owed by past tenants who are no longer in occupancy on the Closing Date.

Collected Rent and Other Lease Amounts. All collected rent rent, collected tenant reimbursements for Operating Expenses (as defined below), and other collected income for the month of Closing under leases in effect on the Leases Closing Date shall be prorated as of the Closing Date. Buyer shall be credited with any rent and other income collected by Seller before the Closing Date but applicable to any period of time from and after the Closing Date. Uncollected rent and other income shall not be prorated on the Closing Date. Any rent received by Seller after the Closing Date with respect to time periods from and after the Closing Date shall be delivered to Buyer within ten (10) days after of Seller’s receipt. Buyer shall apply rent and other income from the tenants under the Leases that are collected after the Closing Date first to the obligations then owing to Buyer for its period of ownership and to those reasonable attorney fees incurred by Buyer in collecting said amount, remitting the balance, if any, to Seller. Buyer will make reasonable efforts, without expense or suit, to collect any delinquent rents from the tenants under the Leases applicable to any periods before the Closing Date. Seller may pursue collection as to any rent not collected by Buyer within ninety (90) 90 days following the Closing Date, provided that Seller shall have no right to institute litigation or terminate any lease or any tenant’s occupancy under any lease in connection therewith. Seller is not restricted in any way from collecting any rent or other income owed by past tenants who are no longer in occupancy on the Closing Date.

Collected Rent and Other Lease Amounts. All collected rent rent; and other collected income (and any applicable state or local tax on rent) for the month of Closing under Leases in effect on the Leases Closing Date shall be prorated as of the Closing Date. Buyer shall be credited with any rent and other income under Leases in effect on the Closing Date collected by Seller before the Closing Date but applicable to any period of time from and after the Closing Date. Uncollected rent and other income under Leases in effect on the Closing Date shall not be prorated on the Closing Date. Any rent and other income under Leases in effect on the Closing Date received by Seller after the Closing Date with respect to time periods from and after the Closing Date shall be delivered to Buyer within ten fifteen (1015) days Business Days after Seller’s receiptreceipt thereof. Buyer shall apply rent and other income from the tenants under Leases in effect on the Leases Closing Date that are collected after the Closing Date first to the obligations then owing to Buyer for its period of ownership and to those reasonable attorney fees incurred by Buyer in collecting said amountsuch amounts, remitting the balance, if any, to SellerSeller until Seller is reimbursed for any uncollected or delinquent rent and other amounts due to Seller under the leases in effect on the Closing Date for the period preceding the Closing Date. Buyer will make commercially reasonable efforts, without suit, to collect any delinquent rents from the tenants under the Leases in occupancy at Closing applicable to any periods before the Closing Date. Seller may pursue is prohibited after Closing from pursuing any collection as to any rent not collected by Buyer within ninety (90) days following the Closing Dateuncollected or delinquent rent; provided, provided however that Seller shall have no right to terminate any lease or any tenant’s occupancy under any lease in connection therewith. Seller is not be restricted in any way from directly collecting or pursuing (including by litigation or other proceeding) any rent or other income owed by past tenants who are no longer in occupancy on the Closing Date. All obligations set forth herein shall survive the Closing and delivery of the Deed.