Common use of Revenue and Expense Allocations Clause in Contracts

Revenue and Expense Allocations. All revenues (including operating expense escalations) and expenses with respect to the Property, the Corporations and the Partnerships, and applicable to the period of time before and after Closing, determined in accordance with sound accounting principles consistently applied, shall be allocated between Xxxxxxxx and Brandywine OP as provided herein. Xxxxxxxx shall be entitled to all revenue and shall be responsible for all expenses for the period of time up to but not including the Closing Date, and Brandywine OP shall be entitled to all revenue and shall be responsible for all expenses for the period of time from, after and including the date of Closing. Such adjustments shall be shown on the closing statements (with such supporting documentation as the parties hereto may require being attached as exhibits to the closing statements) and shall increase or decrease (as the case may be) the Purchase Price payable by the parties hereto. Without limiting the generality of the foregoing, the following items of revenue and expense shall be allocated at Closing: (a) Current rents. (b) Real estate and personal property taxes for the Property for the current calendar year 2001. (c) Revenue and expenses under the Assumed Operating Agreements. (d) Utility charges (including, but not limited to, charges for water, sewer and electricity). (e) Municipal or other governmental improvement liens, which shall be paid by Xxxxxxxx at Closing where the work has physically commenced, and which shall be assumed by Brandywine OP at Closing where the work has been authorized, but not physically commenced. (f) All other revenues (including CAM charges) and expenses of the Property.

Revenue and Expense Allocations. All revenues (including operating expense escalations) and expenses with respect to the Property, the Corporations and the Partnerships, and applicable to the period of time before and after Closing, determined in accordance with sound accounting principles consistently applied, shall be allocated between Xxxxxxxx and Brandywine OP as provided herein. Xxxxxxxx shall be entitled to all revenue and shall be responsible for all expenses for the period of time up to but not including the Closing Date, and Brandywine OP shall be entitled to all revenue and shall be responsible for all expenses for the period of time from, after and including the date of Closing. Such adjustments shall be shown on the closing statements (with such supporting documentation as the parties hereto may require being attached as exhibits to the closing statements) and shall increase or decrease (as the case may be) the Purchase Price cash amount payable by the parties hereto. Without limiting the generality of the foregoing, the following items of revenue and expense shall be allocated at Closing: (a) Current rentsrents and rents payable under each Ground Lease. (b) Real estate and personal property taxes for the Property for the current calendar year 2001. (c) Revenue and expenses under the Assumed Operating AgreementsAgreements to be assigned to and assumed by Brandywine OP. (d) Utility charges (including, but not limited to, charges for water, sewer and electricity). (e) Municipal or other governmental improvement liens, which shall be paid by Xxxxxxxx at Closing where the work has physically commenced, and which shall be assumed by Brandywine OP at Closing where the work has been authorized, but not physically commenced. (f) All other revenues (including CAM charges) and expenses of the Property.

Revenue and Expense Allocations. All revenues (including operating expense escalations) and expenses with ------------------------------- respect to the Property, the Corporations and the Partnerships, and applicable to the period of time before and after Closing, determined in accordance with sound accounting principles consistently applied, shall be allocated between Contributors and Xxxxxxxx and Brandywine OP as provided herein. Xxxxxxxx Contributors shall be entitled to all revenue and shall be responsible for all expenses for the period of time up to but not including the Closing Datedate of Closing, and Brandywine OP Xxxxxxxx shall be entitled to all revenue and shall be responsible for all expenses for the period of time from, after and including the date of Closing. Such adjustments shall be shown on the closing statements (with such supporting documentation as the parties hereto may require being attached as exhibits to the closing statements) and shall increase or decrease (as the case may be) the Purchase Price cash amount payable by the parties heretoXxxxxxxx pursuant to Section 2.2 hereof. Without limiting the generality of the foregoing, the following items of revenue and expense shall be allocated at Closing: (a) Current rentsrents and escalation charges for taxes and operating expenses. (b) Real estate and estate, personal property taxes and special assessments for the Property for the current fiscal or calendar year 2001in which Closing occurs. (c) Revenue and expenses under the Assumed Operating AgreementsAgreements to remain in effect after Closing. (d) Utility charges (including, but not limited to, charges for water, sewer and electricity). (e) Municipal or other governmental improvement liens, which shall be paid by Xxxxxxxx at prior to Closing where the work has physically commenced, and which shall be assumed by Brandywine OP remain in effect at Closing where the work has been authorized, but not physically commenced. (f) All other revenues (including CAM charges) and expenses of the Property, to the extent customarily prorated by purchasers and sellers of office buildings in the county in which the Property is located.