Common use of Income and Expense Allocations Clause in Contracts

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day of the month of the closing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 6 contracts

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc), Purchase Agreement (Apple Residential Income Trust Inc), Purchase Contract (Cornerstone Realty Income Trust Inc)

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Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day of the month of the closing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 4 contracts

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc), Purchase Contract (Cornerstone Realty Income Trust Inc), Purchase Contract (Cornerstone Realty Income Trust Inc)

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day prorated as of the month close of the closingday immediately preceding the Closing Date: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, prorated to the 1st day of the month of the closing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes taxes, if any, for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day of the month of the closing: , rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Apple Residential Income Trust Inc)

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day date of the month of the closingClosing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day of the month of the closing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

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Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day of the month of the closing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume)) ; and general and real property taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day of the month of the closing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property 3 taxes and personal and business property taxes for the year of closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Apple Residential Income Trust Inc)

Income and Expense Allocations. The following shall be prorated, on a calendar-month basis, to the 1st day date of the month of the closingClosing: rents and other income from the Property; operating expenses (on such service contracts and other obligations as Purchaser may agree to assume); and general and real property taxes and personal and business property taxes for the year of closing Closing (based on the most recent assessment and the most recent levy).

Appears in 1 contract

Samples: Purchase Contract (Cornerstone Realty Income Trust Inc)

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