Common use of Rentals Clause in Contracts

Rentals. Rentals and any other charges receivable (including expenses incurred pursuant to said Leases) under the Leases in effect at Closing, as evidenced by the Updated Rent Roll (except as otherwise provided herein), paid prior to Closing and allocable in whole or in part to any period following the Closing shall be credited to Purchaser to the extent so allocable and if allocable in whole or in part to any period prior to the Closing shall be credited to Seller to the extent so allocable. Rent and all other sums which are due and payable to Seller by any tenant but uncollected as of the Closing shall not be adjusted (“Delinquent Amounts”), but Purchaser shall cause the rent and other sums for the period prior to Closing to be remitted to Seller if, as and when collected (but Purchaser shall not be required to take legal action for such amounts accruing prior to the Closing), and any rent received by Purchaser shall first be applied to the payment of any rent due for the current period, and excess amounts collected shall be applied to Delinquent Amounts, if any. Purchaser may not waive any Delinquent Amounts or modify a Lease so as to reduce amounts or charges owed under Leases for any period in which Seller is entitled to receive a share of charges or amounts without first obtaining the prior written consent of Seller. With respect to Delinquent Amounts owed by tenants that are no longer tenants of the Property as of the date of Closing, Seller shall retain all rights relating thereto. All security deposits or other deposits which Seller has the right to hold as of the date of Closing (including, without limitation, non-refundable cleaning fees) shall be assigned and transferred to Purchaser and Purchaser will assume and pay to respective tenants the amount of such deposits according to the Leases.

Rentals. Rentals and other payments (including, without ------- limitation, common area maintenance charges and payments for real property taxes and insurance premiums) payable by tenants, licensees, concessionaires and other occupants of the Property or any other charges receivable portion thereof (including expenses incurred pursuant to said Leasescollectively, the "Tenants") under the Leases in effect at Closing, as evidenced by the Updated Rent Roll (except as otherwise provided herein), paid prior to Closing and allocable in whole or in part to any period following the Closing shall be credited to Purchaser to the extent so allocable and if allocable in whole or in part to any period prior to the Closing shall be credited to Seller to the extent so allocable. Rent and all other sums which are due and payable to Seller by any tenant but uncollected prorated as of the Closing Close of Escrow. However, Buyer shall not be adjusted (“Delinquent Amounts”)obligated to make any payment or give any credit to Seller on account of, or by reason of, any rental or other payments which are unpaid as of the Close of Escrow, but Purchaser shall cause the rent and other sums for the period prior be required merely to Closing to be remitted pay to Seller Seller's share of the same if, as and when collected (but Purchaser received by Buyer. After the Close of Escrow, all payments received by Buyer from the Tenants shall not be required applied as follows: first, to take legal action the obligation or obligations of the Tenants under the Leases accruing during the month in which the Close of Escrow occurs; second, to any obligation or obligations of the Tenants under the Leases attributable to any period occurring after the Close of Escrow through the month in which payment is made and/or with respect to obligations accruing after the Close of Escrow which are past due on the date of receipt by Buyer; third, to all of Buyer's costs of collection incurred with respect to the recovery of any such payments; and then, to any amounts due Seller from such Tenants under the Leases for such amounts accruing periods prior to the Closing), and any rent Close of Escrow. Any rental payments received by Purchaser Seller following the Close of Escrow shall first be applied paid over to the payment Buyer within five (5) business days of any rent due for the current period, receipt and excess amounts collected shall be applied in the manner described above. Seller shall have no right whatsoever to Delinquent Amounts, if any. Purchaser may not waive initiate any Delinquent Amounts action against any Tenant for unlawful detainer or modify a Lease so as other right or action to reduce amounts or charges owed under Leases for any period in which Seller is entitled to receive a share dispossess such Tenant of charges or amounts without first obtaining the prior written consent of Seller. With its leased premises with respect to Delinquent Amounts owed by tenants that are no longer tenants of the Property as of the date of Closing, Seller shall retain all rights relating thereto. All security deposits any duties or other deposits which Seller has the right to hold as of the date of Closing (including, without limitation, non-refundable cleaning fees) shall be assigned and transferred to Purchaser and Purchaser will assume and pay to respective tenants the amount obligations of such deposits according to Tenant under the Leases.

Rentals. Rentals and The monthly rent payable shall be the amount shown on each Schedule(s). Lessee shall pay to Lessor the monthly rent, in advance, for each month or any other charges receivable (including expenses incurred pursuant part thereof that this Lease, with respect to said LeasesSchedule(s), is in effect. The first such payment shall be made on the first day of the calendar month following the Commencement Date. A prorata portion of the monthly rental charges based on a daily rental of one-thirtieth (1/30th) under of the Leases in effect monthly rental calculated from the Commencement Date to the end of the calendar month, shall be due and payable at Closingthe Commencement Date. Installments of rent which are not paid within ten (10) days of their due date shall bear interest at a "Delinquency Rate" equal to five percent (5%) of each installment of rent. For delinquent installments of rent which remain unpaid at the end of each month, interest shall continue to accrue and compound at a delinquency rate equal to five percent (5%) of the cumulative unpaid balance. All rent shall be paid at the place of business of Lessor shown above or such other place as evidenced Lessor may designate by the Updated Rent Roll (except written notice to Lessee. Except as otherwise provided herein)in this Lease, paid prior Lessee's obligation to Closing and allocable in whole or in part to any period following the Closing pay rent shall be credited absolute and unconditional under all circumstances, notwithstanding: (i) any setoff, counterclaim, recoupment, defense or other right which Lessee may have against Lessor for any reason whatsoever, (ii) any defect in the title, right to Purchaser use, condition, operation, fitness for use, damage or destruction of or to the Leased Property or any interruptions or cessations in use or possession thereof for any reason whatsoever, (iii) any insolvency, bankruptcy, reorganization or similar proceedings instituted by or against Lessee. Unless otherwise delineated on the Lease Schedule, any Deposit shall be returned to Lessee if Lessor does not accept the transaction. Otherwise, upon acceptance by Lessor, any Deposit shall be treated as a transaction fee to be retained by Lessor and is not to be applied to rental or other payments due and owing under the Lease. Lessee hereby waives, to the extent so allocable and if allocable in whole or in part to permitted by applicable law, any period prior to the Closing shall be credited to Seller to the extent so allocable. Rent and all other sums right which are due and payable it may now, or at any time hereafter, have to Seller by any tenant but uncollected as of cancel, terminate, or surrender this lease except in accordance with the Closing shall not be adjusted (“Delinquent Amounts”), but Purchaser shall cause the rent and other sums for the period prior to Closing to be remitted to Seller if, as and when collected (but Purchaser shall not be required to take legal action for such amounts accruing prior to the Closing), and any rent received by Purchaser shall first be applied to the payment of any rent due for the current period, and excess amounts collected shall be applied to Delinquent Amounts, if any. Purchaser may not waive any Delinquent Amounts or modify a Lease so as to reduce amounts or charges owed under Leases for any period in which Seller is entitled to receive a share of charges or amounts without first obtaining the prior written consent of Seller. With respect to Delinquent Amounts owed by tenants that are no longer tenants of the Property as of the date of Closing, Seller shall retain all rights relating thereto. All security deposits or other deposits which Seller has the right to hold as of the date of Closing (including, without limitation, non-refundable cleaning fees) shall be assigned and transferred to Purchaser and Purchaser will assume and pay to respective tenants the amount of such deposits according to the Leasesexpress terms hereof.

Rentals. Rentals At Closing, Seller must credit to Purchaser the amount of any rent other sums and any other charges receivable (including expenses incurred pursuant to said Leasesexcluding Security Deposits) which are payable by the tenants under the Tenant Leases (collectively, "RENTALS") for periods after the Proration Date during the month in effect which Closing occurs and the amount of any pre-paid Rentals received by Seller from any tenant under the Tenant Leases for periods after the Proration Date. Seller shall keep and retain (i) all Rentals (whether paid or unpaid at Closing) payable for the month in which Closing occurs, as evidenced (ii) all pre-paid Rentals received by the Updated Rent Roll (except as otherwise provided herein), paid Seller for periods prior to Closing the Proration Date, and allocable in whole or in part to any period following the Closing shall be credited to Purchaser (iii) to the extent so allocable and if allocable in whole Purchaser was given a credit for same, all pre-paid Rentals received by Seller for periods after the Proration Date. If Purchaser collects or in part to receives any period prior to the Closing shall be credited to Seller to the extent so allocable. Rent and all other sums which are due and payable to Seller by any tenant but uncollected Rentals delinquent as of the Closing shall Proration Date (the "DELINQUENT RENTALS"), Purchaser agrees to pay such amounts to Seller, in Cash Funds, within 10 days after Purchaser's receipt thereof. Seller will have the sole and exclusive right to pursue collection of Delinquent Rentals owing to Seller, but Seller will not be adjusted (“Delinquent Amounts”), but Purchaser shall cause entitled to pursue eviction proceedings nor seek the rent and other sums for the period prior to Closing to be remitted to Seller if, as and when collected (but Purchaser shall not be required to take legal action for such amounts accruing prior to the Closing), and any rent received by Purchaser shall first be applied to the payment termination of any rent due for the current period, and excess amounts collected shall be applied to Delinquent Amounts, if any. Purchaser may not waive Tenant Lease in connection with any Delinquent Amounts or modify a Lease so as to reduce amounts or charges owed under Leases for any period in which Seller is entitled to receive a share of charges or amounts without first obtaining the prior written consent of Seller. With respect to Delinquent Amounts owed by tenants that are no longer tenants of the Property as of the date of Closing, Seller shall retain all rights relating thereto. All security deposits or other deposits which Seller has the right to hold as of the date of Closing (including, without limitation, non-refundable cleaning fees) shall be assigned and transferred to Purchaser and Purchaser will assume and pay to respective tenants the amount of such deposits according to the Leaseslegal action.

Rentals. Rentals and other payments (including, without ------- limitation, common area maintenance charges and payments for real property taxes and insurance premiums) payable by tenants, licensees, concessionaires and other occupants of the Property or any other charges receivable portion thereof (including expenses incurred pursuant to said Leasescollectively, the "Tenants") under the Leases in effect at Closing, as evidenced by the Updated Rent Roll (except as otherwise provided herein), paid prior to Closing and allocable in whole or in part to any period following the Closing shall be credited to Purchaser to the extent so allocable and if allocable in whole or in part to any period prior to the Closing shall be credited to Seller to the extent so allocable. Rent and all other sums which are due and payable to Seller by any tenant but uncollected prorated as of the Closing Close of Escrow. However, Buyer shall not be adjusted (“Delinquent Amounts”)obligated to make any payment or give any credit to Seller on account of, or by reason of, any rental or other payments which are unpaid as of the Close of Escrow, but Purchaser shall cause be required merely to pay to Seller, Seller's share of the rent and other sums for the period prior to Closing to be remitted to Seller same if, as and when collected (but Purchaser received by Buyer. After the Close of Escrow, all payments received by Buyer from the Tenants shall not be required applied as follows: first, to take legal action the obligation or obligations of the Tenants under the Leases accruing during the month in which the Close of Escrow occurs; second, to any obligation or obligations of the Tenants under the Leases attributable to any period occurring after the Close of Escrow through the month in which payment is made and/or with respect to obligations accruing after the Close of Escrow which are past due on the date of receipt by Buyer; third, to all of Buyer's costs of collection incurred with respect to the recovery of any such payments; and then, to any amounts due Seller from such Tenants under the Leases for such amounts accruing periods prior to the Closing), and any rent Close of Escrow. Any rental payments received by Purchaser Seller following the Close of Escrow shall first be applied paid over to the payment Buyer within five (5) business days of any rent due for the current period, receipt and excess amounts collected shall be applied in the manner described above. Seller shall have no right whatsoever to Delinquent Amounts, if any. Purchaser may not waive initiate any Delinquent Amounts action against any Tenant for unlawful detainer or modify a Lease so as other right or action to reduce amounts or charges owed under Leases for any period in which Seller is entitled to receive a share dispossess such Tenant of charges or amounts without first obtaining the prior written consent of Seller. With its leased premises with respect to Delinquent Amounts owed any duties or obligations of such Tenant under the Leases. Prior to closing Seller will distribute any funds held in bank accounts to its respective partners and members in accordance with their respective interests and will provide for the assumption by tenants that are no longer tenants Seller of all short term liabilities of the Property as of the date of Closing, Seller shall retain all rights relating thereto. All security deposits or other deposits which Seller has the right to hold as of the date of Closing (including, without limitation, non-refundable cleaning fees) shall be assigned and transferred to Purchaser and Purchaser will assume and pay to respective tenants the amount of such deposits according to the LeasesPartnerships.

Rentals. Rentals Rent and other payments, including without limitation any other charges receivable (including expenses incurred additional rent and percentage rent, which are payable pursuant to said the Leases) under , applicable to the Leases time period in effect at Closingwhich the Close of Escrow occurs, as evidenced and have been received by the Updated Rent Roll (except as otherwise provided herein), paid Seller prior to Closing and allocable in whole or in part to any period following the Closing Date, shall be credited pro-rated on a per diem basis as of the Closing Date. Seller shall use its commercially reasonable efforts to Purchaser resolve, prior to the extent so allocable and if allocable in whole or in part to Closing Date, any rent arrearages arising under Leases for the period prior to the Closing Date; however, if any such arrearages exist at Closing, Buyer shall pay to Seller any rent actually collected after Closing which is applicable to the period preceding the Closing Date in accordance with this Section 3.12.4. All rent, including any delinquent rent, collected by Buyer after Closing shall be credited applied first to the current month's rent, second to unpaid, past due rent accruing after the Closing Date, and third to the unpaid rent accruing prior to the Closing Date (and such pre-Closing rent collected by Buyer shall be paid to Seller to within ten (10) days after Buyer's receipt thereof). In no event shall delinquent rent be prorated. During the extent so allocable. Rent and all other sums which are due and payable to Seller by twelve (12) month period following Closing, Buyer shall xxxx tenants for any tenant but uncollected as rent arrearages in respect of the Closing shall not be adjusted (“Delinquent Amounts”), but Purchaser shall cause the rent and other sums for the period prior to the Closing Date and shall use its commercially reasonable efforts to be remitted to Seller ifcollect same, as and when collected (but Purchaser provided that Buyer shall not be required to incur any other cost or commence any legal proceeding in order to collect such arrearage. Any prepaid rentals including with respect to operating expenses shall be credited to Buyer as of the Close of Escrow. Buyer shall be credited and Seller shall be debited with an amount equal to all rent abatements and rent concessions applicable to periods after the Close of Escrow. Seller shall retain the right to take legal action for such to collect any delinquent rents or other amounts accruing owing Seller applicable to the period prior to the Closing)Closing Date, and any rent received by Purchaser shall first be applied except with to the payment of any rent due for the current period, and excess amounts collected shall be applied to Delinquent Amounts, if any. Purchaser may not waive any Delinquent Amounts or modify a Lease so as to reduce amounts or charges owed under Leases for any period in which extent Seller is entitled deemed to receive a share of charges or amounts without first obtaining the prior written consent of Seller. With have waived its right to do so with respect to Delinquent Amounts owed by tenants that are no longer tenants of the Property Tenant commonly known as of the date of Closing, Seller shall retain all rights relating thereto. All security deposits or other deposits which Seller has the right "Sports Plus" pursuant to hold as of the date of Closing (including, without limitation, non-refundable cleaning fees) shall be assigned and transferred to Purchaser and Purchaser will assume and pay to respective tenants the amount of such deposits according to the LeasesSection 3.12.5 below.