Rent Payments. All Rent due prior to the Closing Date will be for the account of Seller regardless of when paid by Lessee and all Rent due on or after the Closing Date will be for the Account of Purchaser regardless of when paid by Lessee. If either Purchaser or Seller receives from Lessee any Rent for the account of the other party, such other party receiving such Rent shall pay the amount received to the other party within three Business Days after receipt.
Appears in 12 contracts
Sources: Purchase Agreement (PLM Equipment Growth & Income Fund Vii), Purchase Agreement (PLM Equipment Growth & Income Fund Vii), Purchase Agreement (PLM Equipment Growth Fund V)