For the Calendar Year of Closing Sample Clauses

For the Calendar Year of Closing. At Closing, Tenant Reimbursements payable by tenants under the Leases for the calendar month in which the Closing occurs shall be prorated on the basis of the number of days of such month the Property will have been owned by Purchaser and the applicable Seller, respectively. However, there shall be no proration of any such Tenant Reimbursements which are delinquent as of Closing. Rather, Purchaser shall cause any such delinquent Tenant Reimbursements for the period prior to Closing to be remitted to the applicable Seller if, as and when collected. At Closing, each Seller shall deliver to Purchaser a schedule of all such delinquent Tenant Reimbursements. Following the Closing, Purchaser shall use diligent efforts to collect such delinquent Tenant Reimbursements on behalf of such Seller by including the amount of delinquent Tenant Reimbursements in all bills thereafter submitted to the tenants in question after Closing; provided that, Purchaser’s obligation hereunder to collect delinquent Tenant Reimbursements shall terminate upon the earlier of (i) the subject tenant vacating the Property, or (ii) the date which is six (6) months following the Effective Date. Purchaser shall promptly deliver to the applicable Seller a copy of each such xxxx submitted to tenants, shall keep such Seller reasonably informed as to the status of Purchaser’s collection efforts with respect to such tenants after Closing and shall not compromise or settle any such delinquent Tenant Reimbursements without the prior consent of the applicable Seller. Any applicable Seller shall be entitled to pursue any and all remedies against any such tenant at any time; provided that Sellers shall have no right to terminate any Lease or interfere with any tenant’s occupancy under any Lease in connection therewith. Prior to Closing, Sellers shall provide Purchaser all information obtained by Sellers related to Tenant Reimbursements and Tenant Reimbursement Expenses for the period from January 1, 2013 through the Closing. On or before sixty (60) days after the last date provided for in the Leases as the time for reconciliation of Tenant Reimbursements for 2013, Purchaser will prepare a reconciliation, computed as of the Closing Date, for actual Tenant Reimbursement Expenses pursuant to each of the Leases for calendar year 2013 (collectively, "Tenant Reimbursement Recoveries") and a summary of the amounts paid by tenants with respect to Tenant Reimbursements. Sellers shall be entitled to the Tenant Re...
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Related to For the Calendar Year of Closing

  • Calendar Year The term “

  • Tax Periods Beginning Before and Ending After the Closing Date The Company or the Purchaser shall prepare or cause to be prepared and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date and end after the Closing Date. To the extent such Taxes are not fully reserved for in the Company’s financial statements, the Sellers shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates to the portion of the Tax period ending on the Closing Date. Such payment, if any, shall be paid by the Sellers within fifteen (15) days after receipt of written notice from the Company or the Purchaser that such Taxes were paid by the Company or the Purchaser for a period beginning prior to the Closing Date. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. The Sellers shall pay to the Company with the payment of any taxes due hereunder, the Sellers’ Pro Rata Amount of the costs and expenses incurred by the Purchaser or the Company in the preparation and filing of the Tax Returns. Any net operating losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a reasonable manner as agreed to by the parties.

  • Tax Periods Ending on or Before the Closing Date Buyer shall prepare or cause to be prepared and file or cause to be filed all Tax Returns for the Company and the Company Subsidiary for all periods ending on or prior to the Closing Date which are required to be filed (taking into account all extensions properly obtained) after the Closing Date.

  • CONTRACT YEAR The first Contract Year is the period of time ending on the first contract anniversary. Subsequent Contract Years are the annual periods between contract anniversaries.

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively, of each year.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • HSR Waiting Period The waiting period applicable to the consummation of the Merger under the HSR Act shall have expired or been terminated.

  • Interim Period During the period between the Effective Date and the Closing Date (“Interim Period”),

  • HSR Act Waiting Period Any applicable HSR Act waiting period shall have expired or been terminated.

  • year “Year” shall mean the 12-month period ending on March 31.

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