Rents and Prepaid Expenses. Rents, prepaid expenses, and similar items relating to the Assets and benefiting Purchaser shall be prorated between the Parties as of the date of Closing. To the extent that any Leased Real Properties requires payment of additional rent, percentage rental, real estate taxes, insurance, common area maintenance and other lease charges, including any amounts calculated based on sales or gross or net income or cost of goods, Sellers shall be responsible for the same to the extent the same accrue related to periods before and ending as of the Closing Date for the particular Location, and Purchaser shall be responsible and agrees to pay the same for periods after the applicable Closing Date. At the Closing, an appropriate adjustment in the Current Assets or Current Liabilities, as the case may be shall be made as between Sellers and Purchaser to the extent there has been a prepayment or a shortfall in the payment of the same. The foregoing adjustment will be calculated as part of the adjustment contemplated by Section 2.2.
Rents and Prepaid Expenses. Rents, prepaid expenses, and other similar items relating to the Fee Properties (collectively, “Rents”) shall be prorated between the Parties on a per diem basis as of the Closing Date. To the extent that any Fee Properties require payment of additional rent, percentage rental, real estate Taxes, insurance, common area maintenance and other lease charges, including any amounts calculated based on sales or gross or net income or cost of goods, Seller shall be responsible for the same, and shall pay, to the extent the same accrue related to periods before and ending as of the Closing Date for the particular Fee Property, and Purchaser shall be responsible and agrees to pay the same for periods after the applicable Closing Date. If the amount of any Rents is not fixed and determined as of the Closing Date, the foregoing Closing adjustment shall be based on the amount thereof as reasonably estimated at Closing; thereafter, when actual amounts are received, re-prorations will be made on the basis of the actual figures, and a final cash settlement will be made between Seller and Purchaser not later than five (5) Business Days following final determination. The provisions of this Section 4.7 shall survive the Closing.
Rents and Prepaid Expenses. Rents, prepaid expenses, and similar items relating to the Assets and benefiting Buyer, if any, shall be prorated between the Parties as of the date of the Closing.
Rents and Prepaid Expenses. The rents, prepaid expenses, lease commissions, tenant improvement allowances, “free-rent” periods and similar items set forth on Schedule 4.7 relating to the Purchased Assets and benefiting Purchaser shall be prorated between the Parties as of the Effective Time. To the extent that any Leased Real Properties require payment of additional rent, percentage rental, real estate taxes, insurance, common area maintenance and other lease charges, including any amounts calculated based on sales or gross or net income or cost of goods, Seller shall be responsible for the same to the extent the same relate to periods before and ending as of the Effective Time for the particular Location, and Purchaser shall be responsible and agrees to pay the same for periods after the Effective Time. Parties acknowledge that rents and other amounts payable to Seller by tenants or subtenants of the Seller Real Properties, Property Seller Real Properties or Leased Real Properties that have not been paid and may reasonably be considered delinquent will be excluded from the prorations contemplated in this Section 4.7.
