Other Income and Expenses. Except as otherwise expressly stated herein, all other income and ordinary operating expenses for or pertaining to the Property, including, but not limited to, public utility charges, maintenance and service charges, will be prorated as of 12:01 am on the Adjustment Date.
Other Income and Expenses. All other income and ordinary operating expenses for or pertaining to the Property, including, but not limited to, public utility charges, maintenance and service charges and all other normal operating charges of the Property will be prorated as of the Closing date(s); provided that Purchaser is not obligated for payments under any management, service or other contractual agreements affecting the Property and the same must be terminated prior to the Closing unless Purchaser expressly elects to assume the obligations imposed by that document.
Other Income and Expenses. All other income from, and expenses of, the Property, including but not limited to public utility charges, maintenance charges and service charges, shall be prorated as of the Closing Date and the Company shall assume such expenses for periods subsequent to Closing.
Other Income and Expenses. Except as otherwise expressly stated herein, all other income and ordinary operating expenses for or pertaining to the Property, including, but not limited to, public utility charges, maintenance charges and service charges, will be prorated as of 11:59 p.m. on the day preceding the Closing Date.
Other Income and Expenses. All other income and expenses reasonably capable and, subject to the provisions of this Agreement, properly the subject of adjustment in connection with the ownership, operation and management of the Property of whatsoever nature.
Other Income and Expenses. All other income or revenue of the Property, and all other operating expenses of the Property, shall be prorated as of 12:01 a.m. on the Closing Date to the extent received prior to Closing.
Other Income and Expenses. All other income or revenue of the Property, and all other operating expenses of the Property, shall be prorated as of the Cut-Off Time to the extent received prior to Closing.
Other Income and Expenses. All other income from, and expenses of, the Property shall be prorated as of the Closing Date using the best available information and re-prorated after Closing in accordance with Section 7.3(i) below.
Other Income and Expenses. All other income and ordinary operating expenses for or pertaining to the Property, including, but not limited to, public utility charges, maintenance, service charges, and license fees, will be prorated as of the Apportionment Time.
Other Income and Expenses. Other income and expenses consists of interest expense, interest income, and other income. Interest costs, including amounts capitalized, increased due to the increases in the Company's outstanding indebtedness. Interest capitalized for the three and six months ended June 30, 1998, was $7,955,000 and $14,261,000, respectively, as compared to $5,814,000 and $11,627,000 for the three and six months ended June 30, 1997, respectively. The increase in capitalized interest is primarily due to development activity at landfills acquired during 1997 and the first six months of 1998. Included in other income for the six months ended June 30, 1998, was $28,124,000 ($16,875,000 15 after tax or $0.07 per share on a diluted basis), representing the Company's equity in earnings of a partnership formed in 1997 for the purpose of acquiring common stock of WM Holdings in the open market. PROVISION FOR INCOME TAXES The Company recorded a provision for income taxes of $84,738,000 and $165,380,000 for the three and six months ended June 30, 1998, respectively, and $58,947,000 and $97,901,000 for the three and six months ended June 30, 1997, respectively. The difference in the provision for income taxes at the federal statutory rate and the recorded amounts for the periods presented is primarily due to state and local income taxes. EXTRAORDINARY ITEM During the second quarter of 1998, the Company recorded an extraordinary loss related to the early retirement of debt. The outstanding debt of approximately $40,000,000 that was retired was assumed as part of the merger with TransAmerican that was consummated in May 1998, and had an average interest rate of approximately 9.0%. The extraordinary item, before income taxes, was comprised of $1,811,000 for prepayment penalties and other fees and $4,689,000 for the write-off of unamortized discount and debt issuance costs. NET INCOME For the three and six months ended June 30, 1998, respectively, net income was $123,208,000 and $244,170,000, or $0.52 and $1.04 per share on a diluted basis as compared to $87,296,000 and $145,258,000, or $0.40 and $0.69 for the respective prior year periods. Excluding the extraordinary item and the Company's equity in earnings of a partnership discussed above, diluted earnings per share was $0.55 and $1.00 for the three and six months ended June 30, 1998, respectively.
