PRORATION OF REAL AND PERSONAL PROPERTY TAXES. The items listed on SCHEDULE 6.2 hereto relating to real and personal property taxes and assessments on the Acquired Assets for any taxable period commencing prior to the day immediately preceding the Closing Date (the "ADJUSTMENT DATE") and ending after the Adjustment Date shall be prorated between Buyer and Seller as of the close of business on the Adjustment Date. Such proration shall not be affected by any changes in the applicable assessments following the Adjustment Date. All such prorations shall be allocated so that items relating to time periods ending prior to the Adjustment Date shall be allocated to Seller based upon the number of days in the period prior to the Closing Date and items related to time periods beginning on or after the Adjustment Date shall be allocated to Buyer based upon the number of days in the period from and after the Closing Date; provided, however, that the parties shall allocate any real property Tax in accordance with Section 164(d) of the Code. The amount of all such prorations shall be settled and paid on the Closing Date; provided, however, that final payments with respect to prorations that are not able to be calculated on the Closing Date shall be calculated and paid as soon as practicable thereafter.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. Personal and real property taxes and assessments on the Purchased Assets shall be prorated between Purchaser and Seller as of the Apportionment Date, provided, however, that Seller shall not be responsible for any increased assessments on real and personal property resulting from the transactions contemplated hereby. All such prorations shall be allocated so that items relating to time periods ending prior to the Closing Date shall be allocated to Seller and items related to time periods beginning on or after the Closing Date shall be allocated to Purchaser The amount of all such prorations shall be settled and paid on the Closing Date unless, with respect to Seller's obligations hereunder, otherwise ordered by the Bankruptcy Court or as otherwise required by applicable Bankruptcy Law.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. All real and personal property taxes shall not be prorated, it being understood and agreed that Buyer and the other entities comprising the Tenant shall be responsible for them for the periods both before and after the Closing Date.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. All real and personal property taxes and assessments on the Acquired Assets for any taxable period commencing prior to the day immediately preceding the Closing Date (the “Adjustment Date”) and ending after the Adjustment Date (a “Straddle Period”) shall be prorated between Buyer and Seller as of the close of business on the Adjustment Date based on the best information then available, with (a) Seller being liable for such Taxes attributable to any portion of a Straddle Period ending prior to the Adjustment Date and (b) Buyer being liable for such Taxes attributable to any portion of a Straddle Period beginning on or after the Adjustment Date. Information available after the Adjustment Date that alters the amount of Taxes due with respect to the Straddle Period will be taken into account and any change in the amount of such Taxes shall be prorated between Buyer and Seller as set forth in the next sentence. All such prorations shall be allocated so that items relating to the portion of a Straddle Period ending prior to the Adjustment Date shall be allocated to Seller based upon the number of days in the Straddle Period prior to the Adjustment Date and items related to the portion of a Straddle Period beginning on or after the Adjustment Date shall be allocated to Buyer based upon the number of days in the Straddle Period from and after the Adjustment Date; provided, however, that the parties shall allocate any real property Tax in accordance with Section 164(d) of the Code. The amount of all such prorations that must be paid in order to convey the Acquired Assets to Buyer free and clear of all Liens other than Permitted Liens shall be calculated and paid on the Closing Date; all other prorations shall be calculated and paid as soon as practicable thereafter.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. All real and personal property taxes and assessments on the Acquired Assets for any taxable period commencing on or prior to the Closing Date (“Adjustment Date”) and ending on or after the Adjustment Date (a “Straddle Period”) shall be prorated between Buyer and Seller as of the close of business on the Adjustment Date based on the best information then available, with (a) Seller being liable for such Taxes attributable to any portion of a Straddle Period ending on the day prior to the Adjustment Date and (b) Buyer being liable for such Taxes attributable to any portion of a Straddle Period beginning on or after the Adjustment Date. Information available after the Adjustment Date that alters the amount of Taxes due with respect to the Straddle Period will be taken into account and any change in the amount of such Taxes shall be prorated between Buyer and Seller as set forth in the next sentence. All such pro-rations shall be allocated so that items relating to the portion of a Straddle Period ending on the day prior to the Adjustment Date shall be allocated to Seller based upon the number of days in the Straddle Period prior to the Adjustment Date and items related to the portion of a Straddle Period beginning after the Adjustment Date shall be allocated to Buyer based upon the number of days in the Straddle Period from and after the Adjustment Date; provided, however, that the Parties shall allocate any real property Tax in accordance with Section 164(d) of the Code. The amount of all such pro-rations that must be paid in order to convey the Acquired Assets to Buyer free and clear of all Liens other than Permitted Liens shall be calculated and paid on the Closing Date; all other pro-rations shall be calculated and paid as soon as practicable thereafter.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. All real property taxes, personal property taxes and similar ad valorem obligations levied with respect to the Purchased Property for a taxable period which includes (but does not end on) the Closing Date shall be apportioned between the Seller and the Buyer based on the number of days of such taxable period on or prior to the Closing Date, for which the Seller shall be liable, and the number of days of such taxable period after the Closing Date, for which the Buyer shall be liable. The amount of all such prorations shall be settled and paid on the Closing Date, provided that final payments with respect to prorations that are not able to be calculated as of the Closing Date shall be calculated and paid as soon as practicable thereafter.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. Real and personal property taxes and assessments relating to Purchased Real Properties, Leased Properties, Subleased Properties, properties subject to Assigned Leases, or leases of personal property, that are assigned to Purchaser hereunder shall be prorated between Seller and Purchaser as of the Apportionment Date, provided, however, that Seller shall not be responsible for any increased assessments on real and personal property resulting from the transactions contemplated hereby. All such prorations shall be allocated so that items relating to time periods ending prior to the Closing Date shall be allocated to Seller and items related to time periods beginning after the Closing Date shall be allocated to Purchaser. The amount of all such prorations shall be settled and paid on the Closing Date unless, with respect to Seller's obligations hereunder, otherwise ordered by the Bankruptcy Court or as otherwise required by applicable bankruptcy law.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. Real and personal property taxes and assessments relating to properties subject to Assigned Leases or leases of personal property that are assigned to Purchaser hereunder shall be prorated between Seller and Purchaser as of the Apportionment Date, provided, however, that Seller shall not be responsible for any increased assessments on real and personal property resulting from the transactions contemplated hereby. All such prorations shall be allocated so that items relating to time periods ending prior to the Effective Date shall be allocated to Seller and items related to time periods beginning from and after the Effective Date shall be allocated to Purchaser. The amount of all such prorations shall be settled and paid on the Closing Date unless, with respect to Seller's obligations hereunder, otherwise ordered by the Bankruptcy Court or as otherwise required by applicable bankruptcy law.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. All real property Taxes, personal property Taxes and similar Taxes and assessments on the Purchased Assets shall be prorated between Sellers and Buyer as of the Cut-Off Date. All such prorations shall be allocated on a per diem basis so that items relating to periods (or portion thereof) ending on or prior to the Cut-Off Date shall be allocated to Sellers and items relating to periods (or portion thereof) beginning after the Cut-Off Date shall be allocated to Buyer. The amount of all such prorations shall be settled and paid on the Closing Date, provided that final payments with respect to prorations that are not able to be calculated as of the Closing Date shall be calculated and paid as soon as practicable thereafter and Sellers shall pay Buyer the Seller’s share (as determined in accordance with this Section 10.1) of any such Taxes within five business days following Buyer’s request therefor.
PRORATION OF REAL AND PERSONAL PROPERTY TAXES. Real and personal property taxes and assessments relating to Purchased Real Properties, Leased Properties, Subleased Properties, properties subject to Assigned Leases or Assigned GPI Affiliate Leases, or leases of personal property that are assigned to Purchaser, Lottes or Strafco hereunder shall be prorated between Seller and Purchxxxx, Lottes or Strafco, as applicable, as of the Apportionment Date, providxx, xxwever, that Seller shall not be responsible for any increased assessments on real and personal property resulting from the transactions contemplated hereby. All such prorations shall be allocated so that items relating to time periods ending prior to the Closing Date shall be allocated to Seller and items related to time periods beginning after the Closing Date shall be allocated to Purchaser, Lottes or Strafco, as applicable. The amount of all such prorations shxxx xx settled and paid on the Closing Date unless, with respect to Seller's obligations hereunder, otherwise ordered by the Bankruptcy Court or as otherwise required by applicable bankruptcy law.
