HAP Payments. This Section 5.4.9 is applicable to only the Chimneys of Cradlerock Property. To the extent that, at the Closing, there are accrued but unpaid amounts due to the Seller of the Chimneys of Cradlerock Property under the HAP Contract, then to the extent the Seller of the Chimneys of Cradlerock Property or Purchaser receive such amounts at any time after Closing, then such amounts shall be prorated on an if, as and when received basis, in the same manner as other income of the Chimneys of Cradlerock Property, with the Seller of the Chimneys of Cradlerock Property receiving HAP payments attributable to dates prior to Closing of the Chimneys of Cradlerock Property, and Purchaser receiving HAP payments attributable to dates from and after the Closing Date of the Chimneys of Cradlerock Property.
Appears in 5 contracts
Samples: Purchase and Sale Contract, Purchase and Sale Contract (Angeles Income Properties LTD 6), Purchase and Sale Contract (Century Properties Fund Xvi)
