Rent Arrearages. Delinquent rent and Tenant Charges shall be prorated between Buyer and Seller as of and through the Closing Date upon receipt by Buyer. Buyer shall have the right, but not the obligation, to collect any delinquent or other rental and reimbursable Tenant Charges and other expense arrearages attributable to the period prior to the Closing, provided that Buyer agrees to send invoices to Tenants for delinquent rent on a monthly basis for three (3) months following the Closing Date. With respect to any rent or Tenant Charges arrears arising under any of the Leases, Seller shall have the right to attempt to collect such pre-closing delinquent rental obligations (including without limitation, all Tenant Charges) and Buyer will cooperate with Seller in such regard, at no cost to Buyer, provided that Buyer shall not be required to declare a default against such tenants under such Leases for such pre-closing delinquent rental obligations (including without limitation, all taxes and Tenant Charges). Notwithstanding the foregoing, after the Closing Seller shall not bring an action against any tenant under any of the Leases while such tenants are tenants of any portion of the Property. After deduction of Buyer's actual out-of-pocket costs of collection (including reasonable attorneys' fees) Buyer shall promptly account to Seller and shall immediately reimburse Seller for all delinquent rent and Tenant Charges received by Buyer and attributable to the period prior to the Closing Date. Buyer shall remit any amounts to which Seller is entitled in accordance with this Section 7.2 to Seller immediately upon receipt. If either Buyer or Seller receives any revenues attributable to the period during which it is not the owner of the Property, said party shall promptly forward such amounts to the other party (if such revenues are only partially attributable to the period during which said party is not the owner of the Property, the amount paid to the other party shall be based upon proration as of the Closing Date as set forth above). The provisions of this Section 7.2 shall survive the Closing.
Rent Arrearages. No prorations shall be made at Closing with respect to delinquent rents. Any payments received by Buyer after the Closing Date from a tenant under any of the Existing Leases in arrears on account of rentals or other sums which are applicable to periods prior to Closing, shall be apportioned by Buyer upon receipt and the portion thereof attributable to periods prior to Closing shall immediately be paid by Buyer to Seller; provided all payments by such tenants after Closing will be deemed as being applicable, first, as against current month's rental due, then, as against such arrearages which existed as of Closing. Seller shall be deemed to have retained all claims existing against tenants for arrearages under any of the Existing Leases as of Closing.
Rent Arrearages. If on the Closing Date the Prime Tenant is in arrears in the payment of Rent or additional rent, real estate taxes, insurance premiums with respect to insurance, if any, carried by the Seller pursuant to the Sprint Lease, other operating expenses, maintenance escalation charges or other charges of a similar nature for which the Prime Tenant is responsible pursuant to the Sprint Lease, Purchaser shall pay to Seller on the Closing Date, in addition to the Purchase Price and in the manner specified in Section 2(c) hereof, the amount attributable to such arrearages which are due to Seller as of the Closing Date.
Rent Arrearages. Any payments received by Buyer after the date of closing from a tenant under any of the Existing Leases which are specified to be on account of rentals which are applicable to periods prior to closing and on account of sums which are attributable to expenses incurred by the lessor for periods of time prior to closing, shall be apportioned by Buyer upon receipt and the portion thereof attributable to periods or expenses prior to closing shall immediately be paid by Buyer to Seller. If, at closing, any tenants are in arrears in the payment of rents or other sums, which were payable prior to closing, all payments by such tenants after closing will be deemed as being applicable, first, as against current rental due and, then, as against any such arrearages.
Rent Arrearages. Transferor shall use reasonable efforts to collect any delinquent amounts from Tenants prior to the Closing Date; provided, that Transferor may not bring any action or suit for dispossess or similar proceeding in any court without first obtaining the written consent of Transferee. If, prior to the Closing Date, Transferor is unable to collect all rents due and owing for any period preceding the Closing Date, then Transferee shall be entitled to collect and retain all such amounts, and Transferor shall have no further rights in respect thereof. If, as of the Closing Date, any amounts due and payable under the Leases (including, without limitation, operating expense escalations, real estate tax escalations and percentage rent) has not been billed or has not been determined in accordance with the provisions of the Leases then Transferor shall reasonably cooperate with Transferee to determine the correct amount to be billed. Any amounts payable under the Leases which are received by Transferor on or after the Closing Date, shall be paid to Transferee within fifteen (15) Business Days following receipt thereof. The provisions of this Section 5.2 shall survive the Closing.
Rent Arrearages. (a) If, subsequent to the Closing, Purchaser shall collect any fixed or additional rent arrears from any tenants or occupants of any Property with respect to a period when Seller was entitled to such rentals, Purchaser shall remit same to Seller if, as and when collected, less reasonable out-of-pocket expenses incurred by Purchaser incidental to such collection. All rent collected after the Closing shall be first applied to the month of Closing, with any balance to be applied to current monthly charges and monthly charges coming due within 10 days after the payment, with any balance to arrears for the next succeeding prior months. Fixed rent and additional rent shall be apportioned as set forth in Paragraph 4.
Rent Arrearages. At or before Closing, Seller shall identify those tenants in arrears in the payment of rent or any other amount due Seller, and the amount thereof. Any payments received by Buyer after the Closing Date from a tenant so identified under any of the Existing Leases on account of rentals or other sums which are applicable to periods prior to Closing, shall be apportioned by Buyer upon receipt and the portion thereof attributable to periods prior to Closing shall immediately be paid by Buyer to Seller; provided all payments by such tenants after Closing will be deemed as being applicable, first, as against current rental due, then, as against such arrearages which existed as of Closing. Seller shall be deemed to have retained all claims existing against tenants for arrearages under any of the Existing Leases as of Closing.
