Common use of Rent and Security Deposits Clause in Contracts

Rent and Security Deposits. Rent for the month of, and any month after, Closing collected by Contributor prior to Closing shall be adjusted as of the date of the Closing Date. If any tenant is in arrears in the payment of rent on the Closing Date, rents received from such tenant after the Closing shall be applied in the following order of priority: (a) first, to the payment of current rent then due; (b) second, to delinquent rent for any period after the Closing Date; and (c) third, to delinquent rent for any period prior to the Closing Date. At Contributor's election (i) FWRLP will institute suit at the request of Contributor to collect arrearages due as of the Closing Date provided all costs (including reasonable attorneys' fees) in connection therewith are paid by Contributor, or (ii) FWRLP shall assign to Contributor all rights with respect to such arrearages and Contributor may pursue collection thereof. If rents or any portion thereof received by Contributor or FWRLP after the Closing Date are payable to the other party by reason of this allocation, the appropriate sum, less a proportionate share of any reasonable attorneys' fee, costs and expenses of collection thereof, shall be promptly paid to the other party, which obligation shall survive the Closing. If any tenants are required to pay percentage rents, escalation charges for real estate taxes, operating expenses, cost-of-living adjustments or other charges of a similar nature ("Additional Rents") and any Additional Rents are collected by FWRLP after the Closing which are attributable in whole or in part to any period prior to the Closing, then FWRLP shall promptly pay to Contributor its proportionate share thereof, less a proportionate share of any reasonable attorneys' fees, costs and expenses of collection thereof (if any), if and when the tenant paying the same has made all payments of rents and Additional Rent then due to FWRLP pursuant to the tenant's Lease, which obligation shall survive the Closing. Notwithstanding the foregoing, FWRLP shall (i) pay to Contributor at Closing the projected amount of CVS/Pharmacy monthly percentage rent accrued through the date of Closing based upon reasonable estimates, and (ii) be entitled to all CVS/Pharmacy percentage rent collected after Closing, subject to adjustment as set forth in subsection 11(b)(v) below.

Rent and Security Deposits. Rent for the month of, and any month after, Closing collected by Contributor prior to Closing shall be adjusted as of the date of the Closing DateClosing. If any tenant is in arrears in the payment of rent on the Closing Date, rents received from such tenant after the Closing shall be applied in the following order of priority: (a) first, to the payment of current rent then due; (b) second, to delinquent rent for any period after the Closing Date; and (c) third, to delinquent rent for any period prior to the Closing Date. At FWRLP shall use reasonable efforts (other than the institution of suit) to collect arrearages due as of the Closing Date (including, without limitation, unpaid Additional Rent attributable to periods prior to Closing); provided, however, that at Contributor's election (i) FWRLP will institute suit at the request of Contributor to collect such arrearages due as of the Closing Date provided all costs (including reasonable attorneys' attorney's fees) in connection therewith are paid by Contributor, or (ii) FWRLP shall assign to Contributor all rights with respect to such arrearages and Contributor may pursue collection thereof. FWRLP agrees to cooperate with Contributor in ascertaining any amounts due, permitting Contributor to avail itself of any audit rights with respect to any tenants and otherwise assisting Contributor in collection of such arrearages. If rents or any portion thereof received by Contributor or FWRLP after the Closing Date are payable to the other party by reason of this allocation, the appropriate sum, less a proportionate share of any reasonable attorneys' fee, costs and expenses of collection thereof, shall be promptly paid to the other party, which obligation shall survive the Closing. If any tenants are required to pay percentage rents, escalation charges for real estate taxes, operating expenses, cost-of-living adjustments or other charges of a similar nature ("Additional Rents") and any Additional Rents are collected by FWRLP after the Closing which are attributable in whole or in part to any period prior to the Closing, then FWRLP shall promptly pay to Contributor its proportionate share thereof, less a proportionate share of any reasonable attorneys' fees, costs and expenses of collection thereof (if any), if and when the tenant paying the same has made all payments of rents and Additional Rent then due to FWRLP pursuant to the tenant's Lease, which obligation shall survive the Closing. Notwithstanding the foregoing, FWRLP shall (i) pay to Contributor at Closing the projected amount of CVS/Pharmacy monthly percentage rent accrued through the date of Closing based upon reasonable estimates, and (ii) be entitled to all CVS/Pharmacy percentage rent collected after Closing, subject to adjustment as set forth in subsection 11(b)(v) below.

Rent and Security Deposits. Rent for the month ofof , and any month after, Closing collected by Contributor prior to Closing shall be adjusted apportioned as of the date of the Closing Date. If any tenant is in arrears in the payment of rent on the Closing Date, rents received from such tenant after the Closing shall be applied in the following order of priority: (a) first, first to the payment of current rent then due; (b) second, to delinquent rent for any period after the Closing Date; and (c) third, third to delinquent rent for any period prior to the Closing Date. At Contributor's election (i) FWRLP will institute suit at the request of Contributor shall either use reasonable efforts to collect (at no cost to FWRLP), or if Contributor so elects shall assign to Contributor the right to collect, arrearages in rents and Additional Rents due from tenants as of the Closing Date provided all costs (including reasonable attorneys' fees) in connection therewith are paid by Contributor, or (ii) FWRLP shall assign to Contributor all rights with respect to such arrearages and Contributor may pursue collection thereofDate. If rents or any portion thereof received by Contributor or FWRLP after the Closing Date are payable to the other party by reason of this allocation, the appropriate sum, less a proportionate share of any reasonable attorneys' fee, costs and expenses of collection thereof, shall be promptly paid to the other party, which obligation shall survive the Closing. If any tenants are required to pay percentage rents, escalation charges for real estate taxes, operating expenses, cost-of-living adjustments or other charges of a similar nature ("Additional Rents") and any Additional Rents are collected by FWRLP after the Closing which are attributable in whole or in part to any period prior to the Closing, then FWRLP shall promptly pay to Contributor its proportionate share thereof, less a proportionate share of any reasonable attorneys' fees, costs and expenses of collection thereof (if any)thereof, and deliver to Contributor a statement therefor, if and when the tenant paying the same has made all payments of rents and Additional Rent then due to FWRLP pursuant to the tenant's Lease, which obligation shall survive the Closing. Notwithstanding the foregoingUpon written request of Contributor, FWRLP shall (i) pay to provide Contributor with the then current periodic report of the status of collection of such Additional Rents from such tenants. FWRLP shall be credited at Closing with all security deposits of tenants of the projected amount of CVS/Pharmacy monthly percentage rent accrued through the date of Closing based upon reasonable estimates, and (ii) be entitled to all CVS/Pharmacy percentage rent collected after Closing, subject to adjustment as set forth in subsection 11(b)(v) belowProperty.

Rent and Security Deposits. Rent for the month of, and any month after, Closing collected by Contributor Seller prior to Closing shall be adjusted as of the date of the Closing Date. If any tenant is in arrears in the payment of rent on the Closing Date, rents received from such tenant after the Closing shall be applied in the following order of priority: (a) first, to the payment of current rent then due; (b) second, to delinquent rent for any period after the Closing Date; and (c) third, to delinquent rent for any period prior to the Closing Date. At Contributor's election (i) FWRLP will institute suit at the request Purchaser does not guarantee or undertake any obligation to xxx or take other action for collection of Contributor to collect arrearages in rents due from tenants as of the Closing Date provided all costs (including reasonable attorneys' fees) in connection therewith are paid by Contributor, or (ii) FWRLP shall assign to Contributor all rights with respect to such arrearages and Contributor may pursue collection thereofDate. If rents or any portion thereof received by Contributor Seller or FWRLP Purchaser after the Closing Date are payable to the other party by reason of this allocation, the appropriate sum, less a proportionate share of any reasonable attorneys' feefees, costs and expenses of collection thereof, shall be promptly paid to the other party, which obligation shall survive the Closing. If any tenants are required to pay percentage rents, escalation charges for real estate taxes, operating expenses, cost-of-living adjustments or other charges of a similar nature ("Additional Rents") and any Additional Rents are collected by FWRLP Purchaser after the Closing which are attributable in whole or in part to any period prior to the Closing, then FWRLP Purchaser shall promptly pay to Contributor Seller its proportionate share thereof, less a proportionate share of any reasonable attorneys' fees, costs and expenses of collection thereof (if any), if and when the tenant paying the same has made all payments of rents and Additional Rent then due to FWRLP Purchaser pursuant to the tenant's Lease, which obligation shall survive the Closing. Notwithstanding Purchaser shall use commercially reasonable efforts to collect any such Additional Rents from tenants at the foregoing, FWRLP shall (i) pay to Contributor at Closing the projected amount of CVS/Pharmacy monthly percentage rent accrued through the date of Closing based upon reasonable estimates, and (ii) be entitled to all CVS/Pharmacy percentage rent collected after Closing, subject to adjustment as set forth in subsection 11(b)(v) belowProperty.