Common use of Proration of Ad Valorem Taxes Clause in Contracts

Proration of Ad Valorem Taxes. In the case of any taxable period beginning on or before and ending after the Closing Date (a “Straddle Period”), Purchaser and the Seller shall apportion all property and similar ad valorem Taxes with respect to the Purchased Assets based upon the number of days in such Straddle Period. The Seller shall be responsible for all such Taxes with respect to the Purchased Assets for the portion of such Straddle Period ending on the Closing Date, and Purchaser shall be responsible for all such Taxes with respect to the Purchased Assets for the portion of such Straddle Period beginning after the Closing Date, as determined on a daily pro rata basis. If the final prorated amounts are not known as of the Closing Date, such amounts shall be estimated, and adjustments thereto shall be made after the Closing at such time as they are known to the Parties.

Proration of Ad Valorem Taxes. In the case of any taxable period beginning on or before and ending after the Closing Date (a “"Straddle Period”"), Purchaser and the Seller shall apportion all property and similar ad valorem Taxes with respect to the Purchased Assets based upon the number of days in such Straddle Period. The Seller shall be responsible for all such Taxes with respect to the Purchased Assets for the portion of such Straddle Period ending on the Closing Date, and Purchaser shall be responsible for all such Taxes with respect to the Purchased Assets for the portion of such Straddle Period beginning after the Closing Date, as determined on a daily pro rata basis. If the final prorated amounts are not known as of the Closing Date, such amounts shall be estimated, estimated and adjustments thereto shall be made after the Closing at such time as they are known to the Parties.

Proration of Ad Valorem Taxes. In the case of any taxable period beginning on or before and ending after the Closing Date (a “Straddle Period”), Purchaser FrontView OP and the Seller Management Contributors shall apportion all property and similar ad valorem Taxes with respect to the Purchased Target Assets based upon the number of days in such Straddle Period. The Seller Management Contributors shall be responsible for all such Taxes with respect to the Purchased Target Assets for the portion of such Straddle Period ending on the Closing Date, and Purchaser FrontView OP shall be responsible for all such Taxes with respect to the Purchased Target Assets for the portion of such Straddle Period beginning after the Closing Date, as determined on a daily pro rata basis. If the final prorated amounts are not known as of the Closing Date, such amounts shall be estimated, estimated and adjustments thereto shall be made after the Closing at such time as they are known to the Parties.

Proration of Ad Valorem Taxes. In the case of any taxable period beginning on or before and ending after the Closing Date (a “Straddle Period”), Purchaser and the Seller shall apportion all property and similar ad valorem Taxes with respect to the Purchased Assets based upon the number of days in such Straddle Period. The Seller shall be responsible for all such Taxes with respect to the Purchased Assets for the portion of such Straddle Period ending on the Closing Date, and Purchaser shall be responsible for all such Taxes with respect to the Purchased Assets for the portion of such Straddle Period beginning after the Closing Date, as determined on a daily pro rata basis. If the final prorated amounts are not known as of the Closing Date, such amounts shall be estimated, estimated and adjustments thereto shall be made after the Closing at such time as they are known to the Parties.