No Prorations. There shall be no proration of income and expenses of the Property at Closing. Seller shall be entitled to receive all income, and shall be obligated to pay all expenses, with respect to the Property accruing through December 31, 2012. Notwithstanding the foregoing, nothing contained in this Agreement shall relieve Seller from paying rent for any partial month following Closing in accordance with the terms of the Lease.
No Prorations. There shall be no prorations, or credits to the Consideration to be paid by Global at the closing. Subject to the terms and conditions of the Western Land JV Assignment of LLC Interest and the Western Water Assignment of LLC Interest, the Company will continue to pay all expenses and liabilities of the Company whether incurred prior to or after the Closing and whether or not such expenses and liabilities are customarily prorated items.
No Prorations. Seller as the owner of the Skylift Assets prior to the Skylift Closing, and as the sublessee with respect to the Skylift Assets after the Skylift Closing, and as the owner of the Cypress Assets prior to the Closing and as the subpermitee with respect to the Cypress Assets after Closing, shall be continuously responsible for the payment of the following items: (a) Taxes and assessments; (b) tenant lease expenses and security deposits, if any; (c) Contract rights to receive and obligations to pay; (d) deposits and fees under any Licenses and Permits; (e) utility expenses; and (f) Trade Payables. Consequently there shall be no proration at Skylift Closing or at the Closing of any of these items noted in this Section 9.2.
No Prorations. Pursuant to the Ground Lease, Venoco shall continue to be responsible for all real and personal property taxes, assessments, and special levies in the Property; therefore, Escrow Holder shall not prorate any item customarily prorated in the County of Santa Barbara, California.
No Prorations. County shall, at or prior to the Closing Date, pay in fu)I all taxes, special assessments due against the County Property prior to the Closing Date. Taxes, maintenance expenses and special assessments not due at or before the Closing Date shall be the sole liability of the City.
No Prorations. Any Tax assessed on the basis of a fiscal or tax period of the relevant taxing authority, a part of which period is included within the Term and a part of which falls before the Term or after the Term, shall be subject to proration between Landlord and Tenant. If Tenant is permitted to pay, and elects to pay, any Tax for which Tenant is responsible in installments, Tenant may pay such Tax in the maximum number of installments permitted.
No Prorations. Except as otherwise provided herein, the parties hereto expressly acknowledge and agree that no prorations are being made among the parties with respect to the expenses or liabilities of the Properties (such as real estate taxes and operating expenses) or the expenses or liabilities of the Group Companies.
No Prorations. The obligations for property taxes and Mining Claims payments shall not be prorated and USMetals shall assume those obligations at the Closing Date, provided that, they are paid current.
No Prorations. Because New Property Owner, as landlord, and Seller, as tenant, will enter into the Property Lease in connection with Closing, and having a lease commencement date that occurs simultaneously with Closing, as between Seller and Buyer, there will be no adjustment or proration of income or expenses relating to the Property or the Purchased Assets.
No Prorations. BUYER and SELLER acknowledge and agree that, because SELLER is leasing back the Property from BUYER pursuant to the Leases, and since the Leases require SELLER, as tenant, to pay property taxes and assessments (as more fully described in the Leases), no prorations of property taxes, utility payments or payments under any contracts shall be prorated at Closing.
