Common use of Income and Liabilities Clause in Contracts

Income and Liabilities. Except as otherwise provided herein and in the Management Agreement, all benefits and obligations of the ownership of the Project, including, without limitation, income, revenue, operating expenses, proceeds from sale or refinance or condemnation awards shall be shared by the Tenants in Common in proportion to their respective undivided interests in the Project. Notwithstanding the foregoing, (a) each Tenant in Common shall be responsible for all real estate and personal property taxes, general and special real property assessments and other like charges (collectively "Taxes") attributable to its undivided interest in the Project, (b) fees under the Management Agreement shall be paid by each of the Tenants in Common as provided in the Management Agreement and (c) expenses or other costs that are not applied to the Tenants in Common pro rata based on their interests in the Project shall be separately charged to each Tenant in Common. The Tenants in Common shall receive, within 3 months of receipt by the Property Manager, all cash from operations of the Project after payment of expenses and debt service, in proportion to their respective undivided interests in the Project, except for such amounts as may be determined by the Property Manager pursuant to the Management Agreement to be retained for reserves or improvements

Income and Liabilities. Except as otherwise provided herein and in the Management Agreement, all benefits and obligations of the ownership of the Project, including, without limitation, income, revenue, operating expenses, proceeds from sale or refinance or condemnation awards shall be shared by the Tenants in Common in proportion to their respective undivided interests Interests in the Project. Notwithstanding the foregoing, (a) each Tenant in Common shall be responsible for all real estate and personal property taxes, general and special real property assessments and other like charges (collectively "Taxes") attributable to its undivided interest Interest in the Project, (b) fees under the Management Agreement shall be paid by each of the Tenants in Common as provided in the Management Agreement and (c) expenses or other costs that are not applied to the Tenants in Common pro rata based on their interests Interests in the Project shall be separately charged to each Tenant in Common. The Tenants in Common shall receive, within 3 months of receipt by the Property Manager, all cash from operations of the Project after payment of expenses and debt serviceservice and reserve payments under any Loan, including the Citigroup Loan, in proportion to their respective undivided interests Interests in the Project, except for such amounts as may be determined by the Property Manager pursuant to the Management Agreement to be retained for reserves or improvements.

Income and Liabilities. Except as otherwise provided herein and in the Management Agreement, all benefits and obligations of the ownership of the Project, including, without limitation, income, revenue, operating expenses, proceeds from sale or refinance or condemnation awards shall be shared by the Tenants in Common in proportion to their respective undivided interests in the Project. Notwithstanding the foregoing, (a) each Tenant in Common shall be responsible for all real estate and personal property taxes, general and special real property assessments and other like charges (collectively "Taxes") attributable to its undivided interest in the Project, (b) fees under the Management Agreement shall be paid by each of the Tenants in Common as provided in the Management Agreement and (c) expenses or other costs that are not applied to the Tenants in Common pro rata based on their interests in the Project shall be separately charged to each Tenant in Common. The Tenants in Common shall receive, within 3 months of receipt by the Property Manager, all cash from operations of the Project after payment of expenses and debt serviceservice and reserve payments under any Loan, including the Greenwich Capital Loan, in proportion to their respective undivided interests in the Project, except for such amounts as may be determined by the Property Manager pursuant to the Management Agreement to be retained for reserves or improvements