Final Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under Paragraph 6.1, including Taxes, then Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the Closing, to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due within 30 days of written notice. Seller shall have reasonable access to, and the right to inspect and audit, Purchaser’s books to confirm the final prorations.
Appears in 3 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Asset Capital Corporation, Inc.), Purchase and Sale Agreement (Morgans Hotel Group Co.)
Final Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under Paragraph Section 6.1, including Taxes, then Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the Closing, but no later than 90 days after the Closing (except for Taxes), to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due within 30 days of written notice. Seller shall have reasonable access to, and the right to inspect and audit, Purchaser’s books to confirm the final prorations.
Appears in 3 contracts
Samples: Improved Commercial Property Earnest Money Contract, Improved Commercial Property Earnest Money Contract (Resource Real Estate Opportunity REIT, Inc.), Improved Commercial Property Earnest Money Contract (Resource Real Estate Opportunity REIT, Inc.)
Final Adjustment After Closing. If final prorations cannot be made at Closing Close of Escrow for any item being prorated under Paragraph 6.1Section 11.3, including Taxes, then Purchaser Buyer and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the ClosingClose of Escrow, to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due within 30 thirty (30) days of written notice. Seller shall have reasonable access to, and the right to inspect and audit, PurchaserBuyer’s books to confirm the final prorations.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Zenith National Insurance Corp)
Final Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under Paragraph 6.1, including Taxeshereunder, then Purchaser Buyer and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are availableavailable and applicable reconciliations with tenants have been completed, with final adjustment to be made as soon as reasonably possible after the Closing, to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due within 30 10 days of written notice. Seller and Buyer shall have reasonable access to, and the right to inspect and audit, Purchaserthe other’s books to confirm the final prorations.
Appears in 1 contract
Samples: Acquisition Agreement (Ramco Gershenson Properties Trust)
Final Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under Paragraph 6.1, including Taxes, then Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the Closing, to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due within 30 days of written notice. Seller shall have reasonable access to, and the right to inspect and auditinspect, Purchaser’s books to confirm the final prorations, with any audit costs at the sole cost and expense of the Seller.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Resource Apartment REIT III, Inc.)
Final Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under Paragraph 6.1, including Taxes, then Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the Closing, to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due within 30 days of written notice. Seller shall have reasonable access to, and the right to inspect and audit, Purchaser’s 's books to confirm the final prorations.
Appears in 1 contract
Final Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under this Paragraph 6.1, including Taxes7.1, then Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the Closing but no later than 120 days after the Closing, to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due within 30 10 days of written notice. Seller and Purchaser shall have reasonable access to, and the right to inspect and audit, Purchaserthe other’s books to confirm the final prorations.
Appears in 1 contract