Common use of Rent Ready Credit Clause in Contracts

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. 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 EntityReal Property Owner’s typical standards utilized in the ordinary course of its business. This Section 5(j) shall survive Closing.

Rent Ready Credit. At Closing, with respect to each Owned Property, Purchaser shall receive a credit against the Purchase Price in the amount equal to $2,500 for each apartment unit at such Owned 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 EntityReal Property Owner’s typical standards utilized in the ordinary course of its business. This Section 5(j) shall survive Closing.