Rent Ready Condition. If any apartment unit is vacated seven (7) days or more prior to Closing, then, prior to Closing, Seller shall use commercially reasonable diligence to cause the Project Owner to return such unit to rentable condition in accordance with Xxxxxxx Xxxx Residential’s customary cleaning, painting, and repair standards for vacant units (the condition of such an apartment unit after cleaning, painting and repairing is referred to herein as a “Rent Ready Condition”). To the extent any such units are not in a Rent Ready Condition, the Purchase Price shall be credited in an amount equal to $750 for each unit that is not in a Rent Ready Condition.
Rent Ready Condition. For any apartment unit that is vacated on or before the date that is seven (7) days prior to the Closing Date and is not in Rent Ready Condition by the Closing Date, Seller shall credit Buyer $750.00 for the cost and expenses to put such unit in Rent Ready Condition. As used herein, “Rent Ready Condition” shall mean the condition in which Seller currently delivers vacant units to new tenants at the Property, freshly painted and cleaned, with all appliances, fixtures, and equipment therein in good working order.
Rent Ready Condition. Owner agrees to do the following upon vacating the property:
Rent Ready Condition. Seller agrees that (a) prior to Closing all vacant Tenant Units at the Property (which have been vacant for at least five (5) days prior to Closing) will be in Rent-Ready Condition, or (b) Purchaser shall receive a credit against the Purchase Price in an amount equal to the product of (i) the number of vacant Tenant Units which are not in Rent-Ready Condition 5 days prior to Closing (which have been vacant for at least five (5) days prior to Closing), and (ii) $600.00.
Rent Ready Condition. Seller shall continue to "make ready" all Vacant Units (defined herein) in accordance with Seller’s current procedures and practices and shall deliver any Vacant Units in Rent Ready Condition (as defined below) at Closing. If any Vacant Units are not in Rent Ready Condition as of the Closing, Seller shall credit the Purchaser the Rent Ready Credit (as defined below) at Closing. Purchaser shall be permitted to inspect all Vacant Units at least three (3) days but not more than five (5) days prior to the Closing Date to verify the Rent Ready Condition thereof. As used in this Section 6.4, the term (i) "Rent Ready Condition" shall mean supplying operable kitchen appliances, installing new carpeting or cleaning existing carpeting, and repainting in to make apartment units in the Property ready for tenant occupancy, (ii) "Vacant Unit" shall mean any apartment or unit at the Property that is vacant as of the Closing Date and that was vacated by the Tenant most recently occupying such unit at least five (5) days prior to the Closing (i.e., if a unit becomes vacant less than five days prior to the Closing, it is not a "Vacant Unit" as to which Seller’s make ready obligations or Rent Ready Credit apply) and (iii) "Rent Ready Credit" shall mean $750.00 for each Vacant Unit not in Rent Ready Condition at Closing.
Rent Ready Condition. Management expects that all properties that enter our portfolio to be "Rent Ready". However, Management may assist in the first make-ready to remedy any items that are not to Agent' s standards and or needs completed prior to marketing/renting. This administrative service is billed at 10% of each invoice for coordinating with the vendors, scheduling, overseeing and paying for the work that is performed.
Rent Ready Condition. If any apartment unit is vacated seven days or more prior to Closing, then, prior to Closing, Seller shall use commercially reasonable diligence to return such unit to rentable condition in accordance with Seller’s customary cleaning, painting, and repair standards for vacant units (the condition of such an apartment unit after cleaning is referred to herein as a “Rent Ready Condition”). To the extent any such units are not in a Rent Ready Condition, the Purchase Price shall be credited in an amount equal to $500 for each unit that is not in a Rent Ready Condition. Notwithstanding the foregoing, no adjustment shall be due for any unit because of the incomplete Finish Work.
Rent Ready Condition. No later than four (4) Business Days prior to the Closing, Purchaser and Seller shall agree on the number of Tenant units at the Property that are vacant and not in Rent Ready Condition. If, on the Closing Date, any such vacant Tenant units are still not in Rent Ready Condition, then Purchaser shall receive a credit against the Purchase Price in an amount equal to the product of (i) the number of such vacant Tenant units, and (ii) $750.00. For purposes hereof, “
Rent Ready Condition. Seller shall cause any unit in the Property which becomes vacant six (6) (or more) days prior to Closing and which remains vacant as of the Closing Date to satisfy the following requirements: (i) be clean; (ii) have been repainted since the date that the prior tenant vacated; (iii) have appliances in good working order; (iv) have carpeting replaced or cleaned, if appropriate; and (v) otherwise to be in "rent-ready" condition. Purchaser shall be entitled to a credit at Closing in the amount of $750 for each such vacant unit that does not satisfy the foregoing requirements.
Rent Ready Condition. Seller shall continue to "make ready" all Vacant Units (defined herein) in accordance with Seller’s current procedures and practices and shall deliver any Vacant Units in Rent Ready Condition (as defined below) at Closing. If any Vacant Units are not in Rent Ready Condition as of the Closing, Seller shall credit the Purchaser the Rent Ready Credit (as defined below) at Closing. Purchaser shall be permitted to inspect all Vacant Units at least three (3) days but not more than five (5) days prior to the Closing Date to verify the Rent Ready Condition thereof. As used in this Section 6.4, the term (i) "Rent Ready Condition" shall Exhibit M, List of Existing Loan Documents M-22
