Common use of Rentals Clause in Contracts

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 portion thereof (collectively, the "Tenants") shall be prorated as of the Close of Escrow. However, Buyer shall not be 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 shall be required merely to pay to Seller Seller's share of the same if, as and when received by Buyer. After the Close of Escrow, all payments received by Buyer from the Tenants shall be applied as follows: first, to 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 periods prior to the Close of Escrow. Any rental payments received by Seller following the Close of Escrow shall be paid over to Buyer within five (5) business days of receipt and shall be applied in the manner described above. Seller shall have no right whatsoever to initiate any action against any Tenant for unlawful detainer or other right or action to dispossess such Tenant of its leased premises with respect to any duties or obligations of such Tenant under the Leases.

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

Rentals. Rentals Rent and other payments (includingpayments, including without ------- limitationlimitation any additional rent and percentage rent, common area maintenance charges which are payable pursuant to the Leases, applicable to the time period in which the Close of Escrow occurs, and payments for real property taxes and insurance premiums) payable have been received by tenantsSeller prior to the Closing Date, licensees, concessionaires and other occupants shall be pro-rated on a per diem basis as of the Property or Closing Date. Seller shall use its commercially reasonable efforts to resolve, prior to the Closing Date, any portion thereof (collectivelyrent 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 "Tenants") 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 prorated 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 within ten (10) days after Buyer's receipt thereof). In no event shall delinquent rent be prorated. During the twelve (12) month period following Closing, Buyer shall xxxx tenants for any rent arrearages in respect of the period prior to the Closing Date and shall use its commercially reasonable efforts to collect same, 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. However, Buyer shall not be obligated to make any payment or give any credit to credited and Seller on account of, or by reason of, any rental or other payments which are unpaid as of the Close of Escrow, but shall be required merely to pay to Seller Seller's share of the same if, as and when received by Buyer. After the Close of Escrow, all payments received by Buyer from the Tenants shall be applied as follows: first, to 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 debited with respect to obligations accruing after the Close of Escrow which are past due on the date of receipt by Buyer; third, an amount equal to all of Buyer's costs of collection incurred with respect rent abatements and rent concessions applicable to the recovery of any such payments; and then, to any amounts due Seller from such Tenants under the Leases for periods prior to after the Close of Escrow. Any rental payments received by Seller following the Close of Escrow shall be paid over to Buyer within five (5) business days of receipt and shall be applied in the manner described above. Seller shall have no retain the right whatsoever to initiate take action to collect any action against any Tenant for unlawful detainer delinquent rents or other amounts owing Seller applicable to the period prior to the Closing Date, except with to the extent Seller is deemed to have waived its right or action to dispossess such Tenant of its leased premises do so with respect to any duties or obligations of such that Tenant under the Leasescommonly known as "Sports Plus" pursuant to Section 3.12.5 below.

Rentals. 3.1 You will (in cleared funds) pay us on or before the Date of Agreement the First Rental (if any) and pay us all the Primary Rentals shown in the Schedule on the Rental Payment Dates by direct debit (unless we agree otherwise in writing). If any payment of Rental is not made by direct debit, the relevant Rental shall (at our discretion) be increased by 2% or £50 (whichever is the lesser) to compensate us for the additional administration. 3.2 You will pay us interest at the Interest Rate on all Rentals and on all other sums payable under this Agreement which are not paid on the due date . This interest will be compounded quarterly and calculated onadaytodaybasisfromthedatepayment wasdue (or,whereinterest is due in respect ofa sum payable by you to reimburse usfor any costs and expenses we haveincurred, fromthedate we incurred suchcost or expense) untilthe date you pay it. This interest will be charged forperiods of non-payment bothbefore and after judgment. 3.3 You will pay us an amount equal to any losses or other levy charged by any person against us in relation tothe Rentals, this Agreement orthe Goods, theiruse, ownership or acquisition and any othercharges of a like nature howsoever described or amounts in lieu thereof paid or payable by us (other than taxes in respect of our overall net profits andotherthan VAT payable by us on our purchase of the Goods unless that VAT is not recoverable). 3.4 We may appropriate any payment made by you in or towards satisfaction of any sums due to us under this Agreement notwithstanding that you may have purported to appropriate such payment in some other way and we may also appropriate any such payment in part towards any sums due by you otherwise than under this Agreement. 3.5 During the Secondary Period you shall pay the Secondary Rentals specified in the Schedule and the other provisions of thiscondition 3 regardingpaymentshallapply to those Secondary Rentals asthey apply to the Primary Rentals. If condition 2.4 applies, you shall continue paying Rentals of the same amount at the same times and with the same frequency as were payable during the Primary Period and theotherprovisions of condition 2 regardingpaymentshallapply tothesecontinuation Rentals as they apply to the Primary Rentals. 3.6 On the termination of the Secondary Period for any reason or the termination of this hiring under condition 2.4, you shall not be entitled to receive any rebate of sums already paid by way of Secondary Rentals or otherwise payable under condition 3.5. 3.7 You will pay VAT where due in respect of any Rentals, or other sums payable under this Agreement: VAT invoices will be suppliedperiodically by us. 3.8 All Rentals and other payments sums due underthis Agreementfrom you to us shall be made without deduction, set-off, withholding or counterclaim notwithstanding that the Goods (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 portion thereof (collectivelypart of them) are unusable, the "Tenants") shall be prorated as out of the Close of Escroworder or unserviceable. However, Buyer shall not be obligated If youarerequired by law to make any deduction in respect of any payment or give any credit to Seller on account ofdue under this Agreement, or we shall increase the payment due by reason ofan amount which, any rental or other payments which are unpaid as of after making the Close of Escrowrequired deduction, but leaves us in the position we would have been in had the deduction not been required. 3.9 We shall be required merely entitled to pay consolidate your or any of your Associated Companies' liabilities to Seller Seller's share us. When calculating any amount due to us, we may at any time without prior notice hold a suspense account, pay, apply or set-off any amount due by us to you or any of the same if, as and when received by Buyer. After the Close of Escrow, all payments received by Buyer from the Tenants shall be applied as follows: first, to 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 your Associated Companies towards settling any amounts due Seller from by you or any of your Associated Companies to us and if such Tenants under the Leases for periods prior to the Close of Escrow. Any rental payments received by Seller following the Close of Escrow shall amounts are only prospectively or contingently due or are uncertain in amount, we may make an estimate which will be paid over to Buyer within five (5) business days of receipt and shall be applied in the manner described above. Seller shall have no right whatsoever to initiate any action against any Tenant for unlawful detainer or other right or action to dispossess such Tenant of its leased premises with respect to any duties or obligations of such Tenant under the Leasesbinding on you unless it is obviously wrong.

Rentals. Rentals At Closing, Seller must credit to Purchaser the amount of any rent other sums and other payments charges (including, without ------- limitation, common area maintenance charges and payments for real property taxes and insurance premiumsexcluding Security Deposits) which are payable by tenants, licensees, concessionaires and other occupants of the Property or any portion thereof tenants under the Tenant Leases (collectively, the "TenantsRENTALS") shall be prorated as of for periods after the Close of Escrow. However, Buyer shall not be 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 shall be required merely to pay to Seller Seller's share of the same if, as and when received by Buyer. After the Close of Escrow, all payments received by Buyer from the Tenants shall be applied as follows: first, to the obligation or obligations of the Tenants under the Leases accruing Proration Date during the month in which Closing occurs and the Close amount of Escrow occurs; second, to any obligation or obligations of the Tenants pre-paid Rentals received by Seller from any tenant under the Tenant Leases attributable to any period occurring for periods after the Close of Escrow through Proration Date. Seller shall keep and retain (i) all Rentals (whether paid or unpaid at Closing) payable for 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 Closing occurs, (ii) all pre-paid Rentals received 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 periods prior to the Close of Escrow. Any rental payments Proration Date, and (iii) to the extent Purchaser was given a credit for same, all pre-paid Rentals received by Seller following for periods after the Close Proration Date. If Purchaser collects or receives any Rentals delinquent as of Escrow shall be paid over the Proration Date (the "DELINQUENT RENTALS"), Purchaser agrees to Buyer pay such amounts to Seller, in Cash Funds, within five (5) business 10 days of after Purchaser's receipt and shall be applied in the manner described abovethereof. Seller shall will have no the sole and exclusive right whatsoever to initiate any action against pursue collection of Delinquent Rentals owing to Seller, but Seller will not be entitled to pursue eviction proceedings nor seek the termination of any Tenant for unlawful detainer or other right or action to dispossess Lease in connection with any such Tenant of its leased premises with respect to any duties or obligations of such Tenant under the Leaseslegal action.

Rentals. Rentals The term “rentals”, as used herein, includes fixed monthly rentals, additional rentals, escalation rentals, Operating Costs (as hereinafter defined) and other sums and charges, if any, payable by Tenants under the Leases. Purchaser shall receive all rentals accruing on and after the Closing Date and Seller shall receive all rentals accruing prior to the Closing Date. Without limiting the generality of the foregoing, it is understood that payments required to be made by the Tenants to Seller (including, without ------- limitationas landlord) under the Leases for the Tenants’ respective pro rata shares of insurance, common area maintenance charges and payments for real property taxes and insurance premiums) payable by tenantsmaintenance, licensees, concessionaires utilities and other occupants expenses of the Property or any portion thereof Project and the Development (collectively, the "Tenants"“Operating Costs”) are estimated by Seller on an annual basis and paid in monthly installments. Prior to the Closing Date, Seller shall cause to be prorated prepared and delivered to Purchaser a reconciliation statement (“OC Reconciliation Statement”) of (i) Seller’s estimate of actual Operating Costs for the period commencing on the first day of the current fiscal year under the Leases and ending on the Proration Date (“OC Reconciliation Period”); and (ii) Operating Costs for the OC Reconciliation Period collected by Seller as of the Close Proration Date. If, for the OC Reconciliation Period, Seller has collected estimated payments of EscrowOperating Costs in excess of Operating Costs estimated to have been incurred for the same period (it being acknowledged that such calculation shall be made only with respect to actually collected Operating Costs for such period, and not any such sums that may be so receivable from the Tenant), then the amount of such excess shall be credited to Purchaser at the Closing. HoweverIf, Buyer however, for the OC Reconciliation Period, Seller has collected estimated payments of Operating Costs of less than Operating Costs estimated to have been incurred for the same period, then the amount of such deficiency shall not be obligated to make any payment or give any credit paid and delivered to Seller on account of, or by reason of, any rental or other payments which are unpaid as of the Close of Escrow, but shall be required merely to pay to Seller Seller's share of the same if, as and when received by Buyer. After the Close of Escrow, all payments received by Buyer collected from the Tenants after the Closing. The proposed OC Reconciliation Statement shall be applied as follows: first, subject to the obligation or obligations of the Tenants under the Leases accruing during the month in which the Close of Escrow occurs; second, Purchaser’s review and reasonable approval. Seller and Purchaser agree to any obligation or obligations of the Tenants under the Leases attributable cooperate and use their best efforts to any period occurring complete such prorations no later than eighteen (18) months after the Close of Escrow through the month in which payment is made and/or Closing Date. Seller represents and warrants to Purchaser that all reconciliations 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 periods 2011 Operating Costs will be completed prior to Closing. Purchaser shall perform all reconciliations with Tenants for 2012, and Seller shall provide to Purchaser all records required therefor for the Close of Escrowperiod prior to Closing. Any rental payments received by Seller following the Close of Escrow shall be paid over to Buyer within five Within ten (510) business days of receipt after Purchaser has prepared reconciliations with the Tenants and shall be applied in Seller has approved such reconciliations, Purchaser agrees to pay Seller or Seller agrees to pay Purchaser, as the manner described above. Seller shall have no right whatsoever to initiate case may be, any action against any Tenant for unlawful detainer or other right or action to dispossess such Tenant of its leased premises amounts which are due the other, based on the reconciliations with respect to any duties or obligations of such Tenant under the LeasesTenants.

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 portion thereof (collectively, the "Tenants") shall be prorated as of the Close of Escrow. However, Buyer shall not be 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 shall be required merely to pay to Seller Seller, Seller's share of the same if, as and when received by Buyer. After the Close of Escrow, all payments received by Buyer from the Tenants shall be applied as follows: first, to 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 periods prior to the Close of Escrow. Any rental payments received by Seller following the Close of Escrow shall be paid over to Buyer within five (5) business days of receipt and shall be applied in the manner described above. Seller shall have no right whatsoever to initiate any action against any Tenant for unlawful detainer or other right or action to dispossess such Tenant of its leased premises with respect to 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 Seller of all short term liabilities of the Partnerships.