Rent Ready Credit. At Closing, with respect to each Property, Purchaser shall receive a credit against the Purchase Price in the amount equal to $2,500 for each apartment unit at such Property that is vacant as of the Closing Date and that is not in “rent ready” condition for immediate occupancy by a tenant in accordance with the applicable Applicable Entity’s typical standards utilized in the ordinary course of its business. This Section 5(j) shall survive Closing.
Rent Ready Credit. Not more than forty eight (48) hours prior to Closing (“Walk Though Date”), a representative of Buyer and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready” condition. With respect to any rental unit that is vacated on or before five (5) days prior to Closing that Seller has not placed in a “rent ready” condition before the Walk Through Date, Buyer shall receive a credit against the Purchase Price at Closing in the amount of $1,000 per unit. As used herein, “‘rent ready’ condition” shall mean ready for occupancy, equipped with working appliances, cleaned and freshly painted, if applicable.
Rent Ready Credit. On each Closing Date, all apartments which were vacant as of five (5) business days, or more, prior to such Closing Date shall be prepared by Seller to a “Rent Ready Condition”. “Rent Ready Condition” shall mean that all such vacant apartments shall be suitable for occupancy by tenants, including, without limitation, new interior paint, floors fully covered with a combination of tile or linoleum and carpeting, in each case in accordance with Seller's customary practice. If any such apartment is not in a “Rent Ready Condition,” or if any appliance located therein is not in working order as of the Closing Date, Seller agrees, in either instance, that Seller shall have no obligation to put such units into rent-ready condition but instead will give Buyer at Closing a credit equal to Five Hundred and no/100 Dollars ($500.00) for each such unit.
Rent Ready Credit. Not more than forty‑eight (48) hours prior to the Closing Date (“Walk Though Date”), a representative of Buyer and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready” condition. With respect to any rental unit that is vacated either (a) on or before five (5) days prior to the Closing Date that Seller has not placed in a “rent ready” condition before the Walk Through Date or (b) on or after the Walk Through Date, Buyer shall receive a credit against the Purchase Price at Closing in the amount of $1,250 per unit. As used herein, “‘rent ready’ condition” means Seller’s practice and procedures, as of the date of this Agreement, for placing units in “rent ready” condition.
Rent Ready Credit. At the time of Closing, Seller shall cause all apartment units in the Property which have been vacant for five (5) days or more to be in a market rent-ready condition according to normal industry practice (including without limitation painted, cleaned, carpeted, with all appliances in working condition). With respect to each apartment unit that has been vacant for five (5) days or more prior to Closing that is not in such a rent-ready condition at the Closing, Buyer shall receive a credit against the Purchase Price in the sum of Four Hundred Dollars ($400.00).
Rent Ready Credit. Not more than two (2) business days prior to Closing (the “Walk Though Date”), a representative of Purchaser and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready” condition. With respect to any rental unit that is vacated on or before five (5) days prior to Closing that Seller has not placed in a “rent ready” condition before the Walk Through Date, Purchaser shall receive a credit against the Purchase Price at Closing in the amount of $750.00 per unit. As used herein, “‘rent ready’ condition” shall mean ready in accordance with Seller’s normal practices and procedures as of the Effective Date.
Rent Ready Credit. No later than two (2) business days before the Closing Date, a representative of Purchaser and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready” condition. With respect to any rental unit that is vacated on or before five (5) business days prior to the Closing Date, Seller shall, at Seller’s option, either (i) make such unoccupied rental unit into a “rent ready” condition prior to the Closing, or (ii) provide Purchaser with a credit against the Purchase Price due at Closing, which credit shall be equal to the amount (to be reasonably agreed upon by Seller and Purchaser), if any, reasonably required to put the unoccupied rental units in “rent ready” condition; provided, however, that such credit shall be up to and not exceeding SEVEN HUNDRED FIFTY AND NO/ 100 DOLLARS ($750.00) per unoccupied rental unit. With respect to any rental unit that is vacated after the date which is five (5) business days prior to the Closing Date, Seller shall have no responsibility or liability to put such unoccupied rental unit into a “rent ready” condition, and Seller shall not be required to compensate Purchaser if such unit is not “rent ready” condition as of Closing. As used herein, “rent ready condition” means Seller’s customary practice and procedures, as of the Effective Date hereof, for placing units in “rent ready” condition.
Rent Ready Credit. Not more than forty-eight (48) hours prior to Close of Escrow (“Walk Through Date”), a representative of Purchaser and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready condition”, defined below. With respect to any rental unit that is vacated either (a) on or before five (5) days prior to Closing that Seller has not placed in a “rent ready condition” before the Walk Through Date or (b) on or after the Walk Through Date, Purchaser shall receive a credit against the Purchase Price at Closing in the amount of $1,000 per unit. As used herein, “rent ready condition” means Seller’s practice and procedures, as of the date of this Agreement, for placing units in “rent ready condition”. Nothing contained in this Section 10.3F shall be construed as limiting Purchaser’s rights and Seller’s obligations under the other provisions of this Agreement.
Rent Ready Credit. If any apartment unit is vacated seven (7) days or more prior to Closing, then, prior to Closing, Seller shall use commercially reasonable efforts to return such unit(s) to “rent ready condition” (meaning that all vacant units have been cleaned, painted and prepared for immediate tenant occupancy and that all appliances and electrical, plumbing and heating systems shall be in good and working order) (the condition of such apartment in satisfaction of the foregoing conditions is referred to herein as a “Rent Ready Condition”). To the extent any such units vacated seven (7) days or more prior to Closing are not in Rent Ready Condition by Closing, the Purchase Price shall be credited in an amount equal to $750 for each such unit that is not in a Rent Ready Condition. Prior to Closing, Purchaser shall be permitted to do a walk-thru of the Property to determine which vacant units are not in Rent Ready Condition.
Rent Ready Credit. 1.1.1 . At Closing, any bed units at the Property that have been vacant for at least three (3) days prior to Closing shall be put in rent ready condition by Seller, at Seller’s sole cost and expense and in accordance with Seller’s customary management practices at the Property, or Buyer shall receive a credit at Closing equal to $1,000 per bed unit that is not in such rent ready condition. As used herein, “rent ready condition” shall mean the condition in which Seller currently delivers vacant bed units to new tenants at the Property, freshly painted and cleaned, with all appliances, fixtures, and equipment therein in good working order. At Buyer’s option, representatives of Buyer and Seller shall inspect the vacant bed units at the Property one (1) day prior to the Closing to determine whether any such bed units are not in rent ready condition.
