Reproration Clause Samples

Reproration. Within six (6) months following the year-end adjustments with Tenants (or other applicable period) under Tenant Leases or Affiliated Entity Leases for operating costs and receipt of final Tax and other bills, the applicable Buyer or its designee(s) shall prepare and present to Seller a calculation of the reproration of such operating costs, Taxes, percentage rent, and other items of income and expense, based upon the actual amount of such items charged to or received by the parties to such Tenant Leases or Affiliated Entity Leases for the year or other applicable fiscal period. Such Buyer (or designee) and Seller shall make the appropriate adjusting payment between them within 30 days after presentment to Seller of such Buyer’s calculation and Seller’s approval thereof which shall not be unreasonably withheld, conditioned or delayed. Seller may inspect the applicable Buyer and/or its designee’s books and records related to the Property to confirm the calculation. If Seller disagrees with any Buyer’s calculation, Seller shall specify its reasons for disagreement and pay any adjustments for which there is no disagreement, and, as to any adjustments with respect to which the parties disagree, the parties shall, prior to submitting such dispute to the applicable jurisdictional body, exercise their best efforts to negotiate in good faith and promptly resolve such disagreement during a period not exceeding thirty (30) days. Either party shall be entitled to a post-Closing adjustment for any incorrect proration or adjustment.

Reproration. In the event any adjustments pursuant to this Section 11.5 are, subsequent to Closing, found to be erroneous, then either party hereto who is entitled to additional monies shall invoice the other party for such additional amounts as may be owing, accompanied by copies of all paid statements, and such amount shall be paid within ten (10) days from receipt of the invoice. The obligations of Seller and Purchaser under this Paragraph 11.5 shall survive the Closing hereof for a period of ninety (90) days.

Reproration. In the event any prorations or computations made under this Section are based on estimates or prove to be incorrect, then either party shall be entitled to an adjustment to correct the same, provided that it makes written demand on the party from whom it is entitled to such adjustment on or before the date that is one hundred eighty (180) days after the Closing Date. The agreements of Seller and Purchaser set forth in this Section 5.3 shall survive the Closing, subject to Section 7.

Reproration. Notwithstanding anything contained herein to the contrary, all reprorations contemplated by this Agreement shall be completed within one (1) year of Close of Escrow. The provisions of this Section 11(d) shall survive Close of Escrow.

Reproration. All prorations shall be reprorated by Seller and Purchaser as soon as possible upon the receipt of final bills or information for such item of proration, with the appropriate payment by each party to the other for such reproration. ARTICLE

Reproration. In the event any prorations made by the parties are found to be erroneous, then either party hereto who is entitled to additional monies shall invoice the other party for such additional amounts as may be owing, and such amount shall be paid within ten (10) days from receipt of the invoice. The obligations of Seller and Buyer to reprorate shall survive the Closing for a period of 180 days, except as provided in paragraph 9(a)(iii) with respect to taxes.

Reproration. To the extent practicable, all prorations shall be made at Closing. To the extent any such prorations cannot be made at the Closing, the same shall be adjusted and completed after the Closing as and when complete information becomes available. Seller and Purchaser agree to cooperate and to use their best efforts to complete such prorations no later than thirty (30) days after the complete information becomes available. Seller and Purchaser shall use their best efforts prior to the Closing to prepare a schedule of prorations covering current monthly rent, prepaid rent and security deposits, and real property taxes and assessments so that such prorations can be made at the Closing. All adjustments made pursuant to this Article 9 shall be paid in cash or as a credit against the Purchase Price at Closing. The provisions of Article 9 shall survive the Closing.

Reproration. If the Closing shall occur before a new real estate or personal property tax rate is fixed, the apportionment of such taxes at the Closing shall be upon the basis of the old tax rate for the preceding fiscal year applied to the latest assessed valuation. Promptly after the new tax rate is fixed, the apportionment of taxes shall be recomputed and any discrepancy resulting from such recomputation and any errors or omissions in computing apportionments at the Closing shall be promptly corrected and the proper party reimbursed. If any of the items subject to apportionment hereunder cannot be definitively apportioned at the Closing because of the unavailability of the information necessary to compute such apportionment, or if any errors or omissions in computing apportionments at Closing are discovered subsequent to the Closing, then such item shall be reapportioned and such errors and omissions corrected as soon as practicable after the Closing Date and the proper party reimbursed, which obligation shall survive the Closing for a period of one (1) year after the Closing Date as hereinafter provided. Neither party hereto shall have the right to require a recomputation of a Closing apportionment or a correction of an error or omission in a closing apportionment unless within the aforestated one (1) year period one of the parties hereto (a) has obtained the previously unavailable information or has discovered the error or omission, and (b) has given notice thereof to the other party together with a copy of its good faith recomputation of the apportionment and copies of all substantiating information used in such recomputation. The failure of a party to obtain any previously unavailable information or discover an error or omission with respect to an item subject to apportionment hereunder and to give notice thereof as provided above within one (1) year after the Closing Date shall be deemed a waiver of its right to cause a recomputation or a correction of an error or omission with respect to such item after the Closing Date.

Reproration. If any of the foregoing items described in this Section 2 cannot be apportioned at the Closing Date because of the unavailability of the amounts which are to be apportioned, such items shall be apportioned as soon as practicable after the Closing Date and the parties shall reasonably cooperate with one another in connection with such apportionment. If, after the Closing, the parties discover any errors in adjustments and