Common use of Pre-Closing Operations Clause in Contracts

Pre-Closing Operations. For a period of at least 72 hours before the Closing, Seller shall cause the Company to discontinue data entry operations in the on-site computer system for the Real Property, including making deposits of rental income. Seller acknowledges that such discontinuance is intended to afford Seller and Purchaser an opportunity to complete work on prorations as set forth in this Agreement. Seller shall, as soon as practicable after discontinuing such data entry (with Seller endeavoring to do the same within two hours after such discontinuance), forward to Purchaser or its designee final reports to facilitate compilation of prorations.

Appears in 1 contract

Samples: Membership Interests Purchase Agreement (Behringer Harvard Multifamily Reit I Inc)

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Pre-Closing Operations. For a period of at least 72 hours before the Closing, Seller shall cause the Company to discontinue data entry operations in the on-site computer system for the Real Property, including making deposits of rental income. Seller acknowledges that such discontinuance is intended to afford Seller and Purchaser Buyer an opportunity to coordinate the transition of the Property in anticipation of Closing and to complete work on prorations as set forth in this AgreementContract. Seller shall, as soon as practicable after discontinuing such data entry (with Seller endeavoring to do the same within two hours after of such discontinuance), forward to Purchaser Buyer or its designee final reports to facilitate transition planning and compilation of prorations.

Appears in 1 contract

Samples: Contract for Purchase and Sale (Behringer Harvard Multifamily Reit I Inc)

Pre-Closing Operations. For a period of at least 72 hours before the Closing, Seller shall cause the Company to discontinue data entry operations in the on-site computer system for the Real Property, including making deposits of rental income. Seller acknowledges that such discontinuance is intended to afford Seller and Purchaser an opportunity to coordinate the transition of the Property in anticipation of Closing and to complete work on prorations as set forth in this Agreement. Seller shall, as soon as practicable after discontinuing such data entry (with Seller endeavoring to do the same within two hours after of such discontinuance), forward to Purchaser or its designee final reports to facilitate transition planning and compilation of prorations.

Appears in 1 contract

Samples: Real Estate Sale Agreement (Behringer Harvard Multifamily Reit I Inc)

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Pre-Closing Operations. For a period of at least 72 hours before the Closing, Seller shall cause the Company to discontinue data entry operations in the on-site computer system for the Real Property, including making deposits of rental income. Seller acknowledges that such discontinuance is intended to afford Seller and Purchaser Buyer an opportunity to coordinate the transition of the Property in anticipation of Closing and to complete work on prorations as set forth in this Agreement. Seller shall, as soon as practicable after discontinuing such data entry (with Seller endeavoring to do the same within two hours after of such discontinuance), forward to Purchaser Buyer or its designee final reports to facilitate transition planning and compilation of prorations.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Behringer Harvard Multifamily Reit I Inc)

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