Common use of Rental Income Clause in Contracts

Rental Income. Rental income from the Property shall be prorated as of 11:59 pm the day prior to the Closing Date. Non-delinquent rents shall be prorated as of 11:59 pm the day prior to the Closing Date. Rents delinquent as of such time, but collected later, shall be prorated as of 11:59 pm the day prior to the Closing Date when collected. Rents collected after the Closing Date from tenants whose rental was delinquent at the Closing Date shall be deemed to apply first to the current rental due at the time of payment and second to rentals which were delinquent at the Closing Date. Rents collected after the Closing Date to which Seller is entitled shall be promptly paid to Seller. For a period of sixty (60) days after the Closing Date, Buyer shall use reasonable efforts to collect all rents which are delinquent as of the Closing Date with no obligation to incur any expenses or commence litigation to collect such rents. Commencing as of sixty one (61) days after the Closing Date, Seller may use reasonable efforts, including litigation, to collect any rents delinquent as of the Closing Date which are still uncollected; provided, however, in exercising its remedies against tenants as outlined in this Section, Seller shall not evict any tenant of the Property or otherwise unreasonably interfere with Buyer’s or Property Owner's operation of the Property. With respect to security deposits, if any, that have not been applied to defaults pursuant to the terms of the Leases, Buyer shall receive credit therefor at Closing. Any leasing commissions with respect to the Leases shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.

Rental Income. Rental income from the Property (including, without limitation, laundry income, late fees and charges, and all other payments received from tenants under or in connection with the Leases) shall be prorated as of 11:59 pm the day prior to the Closing Date. Non-delinquent rents shall be prorated as of 11:59 pm the day prior to the Closing Date. Rents delinquent as of such timethe Closing Date, but collected later, shall be prorated as of 11:59 pm the day prior to the Closing Date when collected. Rents collected after the Closing Date from tenants whose rental was delinquent at the Closing Date shall be deemed to apply first to the current rental due at the time of payment and second to rentals which were delinquent at the Closing Date. Rents collected after the Closing Date to which Seller is entitled shall be promptly paid to Seller. For a period of sixty (60) days after the Closing Date, Buyer shall use reasonable efforts to collect all rents which are delinquent as of the Closing Date with no obligation to incur any expenses or commence litigation to collect such rents. Commencing as of sixty sixty-one (61) days after the Closing Date, Seller may use reasonable efforts, including litigation, to collect any rents delinquent as of the Closing Date which are still uncollected; provided, however, in exercising its remedies against tenants as outlined in this Section, Seller shall not evict any tenant of the Property or otherwise unreasonably interfere with Buyer’s or Property Owner's operation of the Property. With respect to security deposits, if any, that have not been applied to defaults pursuant to made by tenants at the terms of the LeasesProperty, Buyer shall receive credit therefor at Closing. Any leasing commissions with respect to the Leases shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.

Rental Income. Rental income from the Property (including, without limitation, laundry income, late fees and charges, and all other payments received from tenants under or in connection with the Leases) shall be prorated as of 11:59 pm the day prior to the Closing Date. Non-delinquent rents shall be prorated as of 11:59 pm the day prior to the Closing Date. Rents delinquent as of such timethe Closing Date, but collected later, shall be prorated as of 11:59 pm the day prior to the Closing Date when collected. Rents collected after the Closing Date from tenants whose rental was delinquent at the Closing Date shall be deemed to apply first to the current rental due at the time of payment and second to rentals which were delinquent at the Closing Date. Rents collected after the Closing Date to which Seller is entitled shall be promptly paid to Seller. For a period of sixty (60) days after the Closing Date, Buyer shall use reasonable efforts to collect all rents which are delinquent as of the Closing Date with no obligation to incur any expenses or commence litigation to collect such rents. Commencing as of sixty one (61) days after the Closing Date, Seller may use reasonable efforts, including litigation, to collect any rents delinquent as of the Closing Date which are still uncollected; provided, however, in exercising its remedies against tenants as outlined in this Section, Seller shall not evict any tenant of the Property or otherwise unreasonably interfere with Buyer’s or Property Owner's operation of the Property. With respect to security deposits, if any, that have not been applied to defaults pursuant to made by tenants at the terms of the LeasesProperty, Buyer shall receive credit therefor at Closing. Any leasing commissions with respect to the Leases shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.

Rental Income. Rental income from the Property shall be prorated as of 11:59 pm the day prior to the Closing Date. Non-delinquent rents shall be prorated as of 11:59 pm the day prior to the Closing Date. Rents delinquent as of such time, but collected later, shall be prorated as of 11:59 pm the day prior to the Closing Date when collected. Rents collected after the Closing Date from tenants whose rental was delinquent at the Closing Date shall be deemed to apply first to the current rental due at the time of payment and second to rentals which were delinquent at the Closing Date. Rents collected after the Closing Date to which Seller is entitled shall be promptly paid to Seller. For a period of sixty (60) days after the Closing Date, Buyer shall use reasonable efforts to collect all rents which are delinquent as of the Closing Date with no obligation to incur any expenses or commence litigation to collect such rents. Commencing as of sixty one (61) days after the Closing Date, Seller may use reasonable efforts, including litigation, to collect any rents delinquent as of the Closing Date which are still uncollected; provided, however, in exercising its remedies against tenants as outlined in this Section, Seller shall not evict any tenant of the Property or otherwise unreasonably interfere with Buyer’s or Property Owner's operation of the Property. With respect to security deposits, if any, that have not been applied to defaults pursuant to made by tenants at the terms of the LeasesProperty, Buyer shall receive credit therefor at Closing. Any leasing commissions with respect to the Leases shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.

Rental Income. Rental income from the Property (including, without limitation, laundry income, late fees and charges, and all other payments received from tenants under or in connection with the Leases) shall be prorated as of 11:59 pm the day prior to the Closing Proration Date. Non-delinquent rents shall be prorated as of 11:59 pm the day prior to the Closing Proration Date. Rents delinquent as of the Proration Date (i.e., rents that are due and owing after the expiration of any applicable grace period or, if no grace period is provided, after the date such timerents are due), but collected later, shall be prorated as of 11:59 pm the day prior to the Closing Proration Date when collected. Rents collected after the Closing Proration Date from tenants whose rental was delinquent at the Closing Proration Date shall be deemed to apply first to the current rental due at the time of payment and second to rentals which were delinquent at as of the Closing Proration Date. Rents collected after the Closing Proration Date to which Seller is entitled shall be promptly paid to Seller. For a period of sixty (60) days after the Closing Date, Buyer shall use reasonable efforts to collect all rents which are delinquent as of the Closing Proration Date with no obligation to incur any expenses or commence litigation to collect such rents. Commencing as of sixty one (61) days after the Closing Date, Seller may use reasonable efforts, including litigation, to collect any rents delinquent as of the Closing Proration Date which are still uncollected; provided, however, in exercising its remedies against tenants as outlined in this Section, Seller shall not evict any tenant of the Property or otherwise unreasonably interfere with Buyer’s or Property Owner's operation of the Property. With respect to all unapplied security deposits, if any, that have not been applied to defaults pursuant to made by tenants at the terms of the LeasesProperty, Buyer shall receive a credit therefor toward the Purchase Price for all such security deposits then held on behalf of Seller at Closing. Any leasing commissions with respect to the Leases shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.

Rental Income. Rental income from the Property (including, without limitation, laundry income, late fees and charges, and all other payments received from tenants under or in connection with the Leases) shall be prorated as of 11:59 pm the day prior to the Closing Proration Date. Non-delinquent rents shall be prorated as of 11:59 pm the day prior to the Closing Proration Date. Rents delinquent as of the Proration Date (i.e., rents that are due and owing after the expiration of any applicable grace period or, if no grace period is provided, after the date such timerents are due), but collected later, shall be prorated as of 11:59 pm the day prior to the Closing Proration Date when collected. Rents collected after the Closing Proration Date from tenants whose rental was delinquent at the Closing Proration Date shall be deemed to apply first to the current rental due at the time of payment and second to rentals which were delinquent at as of the Closing Proration Date. Rents collected after the Closing Proration Date to which Seller is entitled shall be promptly paid to Seller. For a period of sixty (60) days after the Closing Date, Buyer shall in good faith use reasonable efforts to collect all rents which are delinquent as of the Closing Proration Date with no obligation to incur any expenses or commence litigation to collect such rents. Commencing Seller may use reasonable efforts (commencing as of sixty sixty-one (61) days after the Closing Date, Seller may use reasonable effortsDate with respect to any tenants that remain in occupancy at the Property), including litigation, to collect any rents delinquent as of the Closing Proration Date which are still uncollected; provided, however, in exercising its remedies against tenants as outlined in this Section, Seller shall not evict any tenant of the Property or otherwise unreasonably interfere with Buyer’s or Property Owner's operation of the Property. With respect to unapplied security deposits, if any, that have not been applied to defaults pursuant to made by tenants at the terms of the LeasesProperty, Buyer shall receive credit therefor at Closing. Any leasing commissions with respect to the Leases shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.