Common use of Insufficient Information Clause in Contracts

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during the Closing Tax Year, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.8.

Appears in 11 contracts

Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement (Inland Real Estate Income Trust, Inc.)

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Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during the Closing Tax Year, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.8.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Behringer Harvard Reit I Inc), Purchase and Sale Agreement (Prudential Bache Watson & Taylor LTD 2), Purchase and Sale Agreement (Prudential Bache Watson & Taylor LTD 2)

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during assessed for the Tax Year in which Closing Tax Yearoccurs, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during assessed for the Closing Tax Year in which Closing occurs differ from the amounts used at Closing and in accordance with the provisions of Section 6.8.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pennsylvania Real Estate Investment Trust), Purchase and Sale Agreement (Pennsylvania Real Estate Investment Trust)

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during the Closing Tax Year, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.86.7.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Wells Real Estate Fund X L P), Purchase and Sale Agreement (Wells Real Estate Fund v L P)

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during assessed for the Tax Year in which Closing Tax Yearoccurs, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during assessed for the Closing Tax Year in which Closing occurs differ from the amounts used at Closing and in accordance with the provisions of Section 6.8Closing.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (NTS Realty Holdings Lp), Purchase and Sale Agreement (NTS Realty Holdings Lp)

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during the Closing Tax Year, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Yearyear, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.86.7.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Global Income Trust, Inc.)

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during the Closing Tax Year, then the proration of such taxes shall be based upon the rate and assessments for 2006 Budgeted Taxes (as used in the preceding Tax YearConfidential Investment Description dated August 2, 2005) and such proration prorations shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.8final.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Cogdell Spencer Inc.)

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Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during the Closing Tax Year, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.8, which obligation shall survive the Closing and not be merged therein.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Resource Real Estate Opportunity REIT, Inc.)

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes due and payable during the tax year in which the Closing occurs (the “Closing Tax Year”), then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Yeartax year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.8Closing.

Appears in 1 contract

Samples: Ownership Interest Contribution Agreement (Armada Hoffler Properties, Inc.)

Insufficient Information. If, at Closing, the real estate and/or personal property tax rate and assessments have not been set for the taxes and assessments due and payable during the Closing Tax Year, then the proration of such taxes shall be based upon the rate and assessments for the preceding Tax Year, and such proration shall be adjusted between Seller and Buyer after Closing upon presentation of written evidence that the actual taxes due and payable during the Closing Tax Year differ from the amounts used at Closing and in accordance with the provisions of Section 6.8.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pacific Office Properties Trust, Inc.)

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