Common use of Description of Items to be Adjusted Clause in Contracts

Description of Items to be Adjusted. The following apportionments and adjustments shall be made: (a) real estate taxes assessed against the Lands and Improvements based upon the calendar year assessed; (b) the amount of the real estate transfer taxes payable in connection with the conveyance of each of the Properties shall be deducted from the Allocable Purchase Price and shall be paid by Purchaser directly to the taxing authority; (c) if there are any confirmed or unconfirmed special assessments against the Lands or the Improvements, the Seller owning such Property shall pay same if the work giving rise to the assessment was completed prior to the date of this Agreement, but if the work giving rise to the assessment was not completed prior to the date of this Agreement, same shall be paid or assumed by Purchaser; (d) rents and all other charges (including cost reimbursement payments) actually paid under the Leases, provided, however, that, if any rents shall be accrued and unpaid at the Closing Date, the rents collected by Purchaser on or after the Closing Date shall first be applied to all rents due at the time of such collection on or after the Closing Date with the balance payable to the applicable Seller to the extent of rents delinquent as of the Closing Date; provided, further, that Purchaser shall not be required to institute any proceeding to collect any rents accrued and unpaid on the Closing Date. Any rent or additional rent paid to any Seller after the Closing Date shall promptly be remitted to Purchaser. If a Seller shall not have received all accrued and unpaid rents due it as of the Closing Date within one hundred twenty (120) days thereafter, such Seller, at its sole cost and expense, shall be entitled to bring such actions or proceedings not affecting possession, the validity of the related Lease or any security held by Purchaser thereunder as it shall desire to collect any such accrued and unpaid rents, and Purchaser shall, at no cost to Purchaser, cooperate with such Seller in any such action; (e) payments under any Reciprocal Easement Agreement; (f) all other income and expense from the Properties of every type and nature. If any of the foregoing cannot be apportioned at the Closing Date because of the unavailability of the amounts which are to be apportioned, such items shall be apportioned as soon as practicable after the Closing Date; and (g) sewer, water, gas, electric, telephone and other utility charges shall not be apportioned but shall be paid by Sellers based upon current bills or meter readings.

Description of Items to be Adjusted. The following ----------------------------------- apportionments and adjustments shall be mademade as of the time set forth in Section 9.1 unless otherwise expressly provided: (a) maintenance costs associated with the Common Areas (as that term is defined in the Covenants referenced in Exhibit C) due --------- and payable as of the Closing Date shall be paid by Seller; (b) real estate taxes assessed against the Lands Premises shall be appropriately pro-rated and Improvements based upon the calendar year assessedpaid by Seller; (bc) any special assessments for work commenced prior to the Effective Date shall be credited against the Price (including the amount of any unpaid installments of such assessment), and any assessments for work commenced after the date hereof shall be Purchaser's responsibility; (d) the amount of the real estate transfer taxes or stamp tax payable in connection with the conveyance of each of the Properties shall be deducted from the Allocable Purchase Price and Premises shall be paid by Purchaser Seller directly to the taxing authority; (c) if there are any confirmed or unconfirmed special assessments against the Lands or the Improvements, the authority and Seller owning such Property shall pay same if the work giving rise to the assessment was completed prior to the date of this Agreement, but if the work giving rise to the assessment was not completed prior to the date of this Agreement, same shall be paid or assumed by Purchaser; (d) rents and all other charges (including cost reimbursement payments) actually paid under the Leases, provided, however, that, if any rents shall be accrued and unpaid at the Closing Date, the rents collected by Purchaser on or after the Closing Date shall first be applied to all rents due at the time of such collection on or after the Closing Date with the balance payable to the applicable Seller to the extent of rents delinquent as of the Closing Date; provided, further, that Purchaser shall not be required to institute any proceeding to collect any rents accrued execute and unpaid on the Closing Date. Any rent or additional rent paid to any Seller after the Closing Date shall promptly be remitted to Purchaser. If a Seller shall not have received all accrued and unpaid rents due it as of the Closing Date within one hundred twenty (120) days thereafter, such Seller, at its sole cost and expense, shall be entitled to bring such actions or proceedings not affecting possession, the validity of the related Lease or any security held by Purchaser thereunder as it shall desire to collect any such accrued and unpaid rents, and Purchaser shall, at no cost to Purchaser, cooperate with such Seller in any such actiondeliver real estate transfer declarations; (e) payments under any Reciprocal Easement Agreementwater, sewer, gas, telephone and other utility charges shall not be adjusted but shall be paid by Seller based upon a reading to be obtained by Seller immediately prior to the Closing Date; (f) all other income and expense from the Properties Property of every type and nature. If any of the foregoing cannot be apportioned at the Closing Date because of the unavailability of the amounts which are to be apportioned, such items shall be apportioned as soon as practicable after the Closing Date; and (g) sewer, water, gas, electric, telephone and other utility charges shall not be apportioned but Seller shall be paid entitled to the return of any deposits made by Sellers based upon current bills or meter readingsSeller with utility companies servicing the Property.

Description of Items to be Adjusted. The following apportionments and adjustments shall be made: (a) real estate taxes assessed against the Lands and Improvements based upon the calendar year assessed; (b) the amount of the real estate transfer taxes payable in connection with the conveyance of each of the Properties Property shall be deducted from the Allocable Purchase Price and shall be paid by Purchaser directly to the taxing authority; (c) if there are any confirmed or unconfirmed special assessments against the Lands or the Improvements, the Seller owning such Property shall pay same if the work giving rise to the assessment was completed prior to the date of this Agreement, but if the work giving rise to the assessment was not completed prior to the date of this Agreement, same shall be paid or assumed by Purchaser; (d) rents and all other charges (including cost reimbursement payments) actually paid under the Leases, provided, however, that, if any rents shall be accrued and unpaid at the Closing Date, the rents collected by Purchaser on or after the Closing Date shall first be applied to all rents due at the time of such collection on or after the Closing Date with the balance payable to the applicable Seller to the extent of rents delinquent as of the Closing Date; provided, further, that Purchaser shall not be required to institute any proceeding to collect any rents accrued and unpaid on the Closing Date. Any rent or additional rent paid to any Seller after the Closing Date shall promptly be remitted to Purchaser. If a Seller shall not have received all accrued and unpaid rents due it as of the Closing Date within one hundred twenty (120) days thereafter, such Seller, at its sole cost and expense, shall be entitled to bring such actions or proceedings not affecting possession, the validity of the related Lease Leases or any security held by Purchaser thereunder as it shall desire to collect any such accrued and unpaid rents, and Purchaser shall, at no cost to Purchaser, cooperate with such Seller in any such action; (e) payments under any Reciprocal Easement Agreement; (f) all other income and expense from the Properties Property of every type and nature. If any of the foregoing cannot be apportioned at the Closing Date because of the unavailability of the amounts which are to be apportioned, such items shall be apportioned as soon as practicable after the Closing Date; and (g) sewer, water, gas, electric, telephone and other utility charges shall not be apportioned but shall be paid by Sellers Seller based upon current bills or meter readings.

Description of Items to be Adjusted. The following apportionments and adjustments shall be made: (a) real estate taxes assessed against the Lands Land and Improvements based upon the calendar year assessed; (b) the amount of the real estate transfer taxes tax payable in connection with the conveyance of each of the Properties Land and the Improvements shall be deducted from the Allocable Purchase Price and shall be paid by Purchaser directly to the taxing authority; (c) if there are any confirmed or unconfirmed special assessments against the Lands Land or the Improvements, the Seller owning such Property shall pay same if the work giving rise to the assessment was completed prior to the date of this Agreement, but if the work giving rise to the assessment assessments was not completed prior to the date of this Agreement, same shall be paid or assumed by Purchaser; (d) rents (including, without limitation, fixed rent and all other charges (including cost reimbursement paymentsadditional rents) actually paid payable under the Leases, provided, however, that, if Leases for the month in which the Closing Date occurs shall be apportioned on the Closing Date regardless of whether collected from Tenants. If any rents under the Leases relating to any period prior to the month in which the Closing Date occurs shall be accrued and unpaid at as of the Closing Date, then the rents collected by Purchaser under the Leases on or after the Closing Date shall first be applied to all rents due at the time of such collection on or after for the month in which the Closing Date occurs or for any subsequent month and to any reasonable out-of-pocket costs incurred by Purchaser in connection with any litigation or other legal action instituted by Purchaser to collect the rents (which costs shall be pro-rated to reflect the portion thereof allocable to rents collected as a result of such litigation or action which are payable to Seller), with the balance payable to the applicable Seller to the extent of rents delinquent unpaid as of the Closing Date which relate to any period prior to the month in which the Closing Date occurs. After the Closing Date, Purchaser shall take good faith efforts to collect such unpaid rents from the Tenants; provided, furtherhowever, that Purchaser shall not be required to institute any proceeding to collect any rents accrued and unpaid on the Closing Date. Any rent or additional rent paid to any Seller after the Closing Date shall promptly be remitted to Purchasersuch rents. If a Seller shall not have received all accrued and unpaid rents due it as of relating to any period prior to the Closing Date within one hundred twenty thirty (12030) days thereafter, such Seller, at its sole cost and expense, shall be entitled to bring such actions or proceedings not affecting possession, the validity of the related Lease or any security held by Purchaser thereunder possession as it shall desire to collect any such accrued and unpaid rents, and Purchaser shallshall cooperate with Seller, at no cost to PurchaserSeller’s cost, cooperate with such Seller in any such action;; and (e) payments under any Reciprocal Easement Agreement; (f) all other income and expense from the Properties Property of every type and nature, including, without limitation, charges and expenses, if any, under the Easement Agreement. If any of the foregoing cannot be apportioned at the Closing Date because of the unavailability of the amounts which are to be apportioned, such items shall be apportioned as soon as practicable after the Closing Date; and (g) sewer, water, gas, electric, telephone Date and other utility charges the parties shall not be apportioned but shall be paid by Sellers based upon current bills or meter readingsreasonably cooperate with one another in connection with such apportionment.