Lease Rents. Rents under Leases and other revenues as and when ----------- collected. If Purchaser receives any rents from Tenants after the Closing Date then such collections shall first be applied to rents accruing on or after the Closing Date, and Purchaser shall promptly remit the balance, if any, to Seller to the extent any pre-Closing Date rental obligation under such Tenant's Lease remains unpaid to Seller. Nothing in this paragraph shall restrict Seller's right to collect delinquent rents directly from a tenant by any legal means or shall obligate Purchaser to attempt to collect. such delinquent rents on Seller's behalf;
Appears in 3 contracts
Samples: Hotel Purchase Agreement (American General Hospitality Corp), Hotel Purchase Agreement (American General Hospitality Corp), Hotel Purchase Agreement (American General Hospitality Corp)
Lease Rents. Rents under Leases and other revenues as and when ----------- collected. If Purchaser receives any rents from Tenants after the Closing Date then such collections shall first be applied to rents accruing on or after the Closing Date, and Purchaser shall promptly remit the balance, if any, to Seller to the extent any pre-Closing Date rental obligation under such Tenant's Lease remains unpaid to Seller. Nothing in this paragraph shall restrict Seller's right to collect delinquent rents directly from a tenant by any legal means or shall obligate Purchaser to attempt to collect. collect such delinquent rents on Seller's behalf;.
Appears in 1 contract
Samples: Hotel Purchase Agreement (American General Hospitality Corp)
