Common use of Reproration of Taxes Clause in Contracts

Reproration of Taxes. After receipt of final Taxes and other bills, Purchaser shall prepare and present to Seller a calculation of the reproration of such Taxes and other items, based upon the actual amount of such items charged to or received by the parties for the year or other applicable fiscal period. The parties shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s books and records related to the Property to confirm the calculation. The provisions of this Section 5.4(b) shall survive the Closing for a period of one (1) year after the Closing Date.

Appears in 6 contracts

Samples: Purchase and Sale Agreement (Generation Income Properties, Inc.), Purchase and Sale Agreement (Generation Income Properties, Inc.), Purchase and Sale Agreement (Wells Real Estate Fund Iv L P)

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Reproration of Taxes. After receipt of final Taxes and other bills, -------------------- Purchaser shall prepare and present to Seller a calculation of the reproration of such Taxes and other items, based upon the actual amount of such items charged to or received by the parties for the year or other applicable fiscal period. The parties shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s 's calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s 's books and records related to the Property to confirm the calculation. The provisions of this Section 5.4(b) shall survive the Closing for a period of one (1) year after the Closing Date.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Overseas Partners LTD), Purchase and Sale Agreement (Wells Real Estate Fund I)

Reproration of Taxes. After receipt of final Taxes and other bills, Purchaser shall prepare and present to Seller a calculation of the reproration of such the Taxes and other itemsitems with respect to the Property, based upon the actual amount of such items charged to or received by the parties for the year or other applicable fiscal period. The parties Purchaser and Seller shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s 's calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s 's books and records related to the Property to confirm the calculation. The provisions of this Section 5.4(b) shall survive the Closing for a period of one two hundred seventy (1270) year after days following the Closing DateClosing.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Fund Ix Lp)

Reproration of Taxes. After receipt of final Taxes and other -------------------- bills, Purchaser shall prepare and present to Seller a calculation of the reproration of such Taxes and other items, based upon the actual amount of such items charged to or received by the parties for the year or other applicable fiscal period. The parties shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s 's calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s 's books and records related to the Property to confirm the calculation. The provisions of this Section 5.4(b) shall survive the Closing for a period of one (1) year after the Closing Date.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Fund I)

Reproration of Taxes. After receipt of final Taxes and other billsxxxx for Taxes, Purchaser shall prepare and present to Seller a calculation of the reproration of such Taxes and other items, based upon the actual amount of such items charged to or received by the parties for the year or other applicable fiscal period. The parties Purchaser and Seller shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s books and records related to the Property to confirm the calculation. The provisions of this Section 5.4(b) shall will survive the Closing for a period of one hundred eighty (1180) year days after the Closing Date.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Fund Ii)

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Reproration of Taxes. After receipt of final Taxes and other bills, Purchaser shall prepare and present to Seller a calculation of the reproration of such the Taxes and other itemsitems with respect to the Property, based upon the actual amount of such items charged to or received by the parties for the year or other applicable fiscal period. The parties Purchaser and Seller shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s 's calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s 's books and records related to the Property to confirm the calculation. The provisions of this Section 5.4(b) shall survive the Closing for a period of one three hundred sixty-five (1365) year after days following the Closing DateClosing.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Fund Viii Lp)

Reproration of Taxes. After receipt of final Taxes and other bills, Purchaser shall prepare and present to Seller a calculation of the reproration of such Taxes and other items, based upon the actual amount of such items charged to or received by the parties for the year or 44 other applicable fiscal period. The parties shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s books and records related to the Property to confirm the calculation. The provisions of this Section 5.4(b) shall survive the Closing for a period of one (1) year after the Closing Date.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Fund Iii L P)

Reproration of Taxes. After receipt of final Taxes and other bills, Purchaser shall prepare and present to Seller a calculation of the reproration of such Taxes and other itemsitems with respect to the Properties, based upon the actual amount of such items charged to or received by the parties for the year or other applicable fiscal period. The parties Purchaser and Seller shall make the appropriate adjusting payment between them within thirty (30) days after presentment to Seller of Purchaser’s calculation and appropriate back-up information. Purchaser shall provide Seller with appropriate backup materials related to the calculation, and Seller may inspect Purchaser’s books and records related to the Property Properties to confirm the calculation. The provisions of this Section 5.4(b) shall survive the Closing for a period of one (1) year after the Closing Date.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Investment Trust Ii Inc)

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