Settlement Adjustments. 8.1 All monthly condominium assessments for the month in which Settlement is made, if any, real property taxes, insurance premiums, any assessments of water, sewer, or similar services to the Condominium, and any other prepaid or pro-ratable items shall be prorated between Purchaser and Seller as of the date upon which Seller is prepared to close according to the terms of this Agreement. Thereafter, each of these items shall be assumed and paid by Purchaser. In the event that at time of Settlement any such item has not been allocated among the units the total of such items for the Condominium shall be allocated among the units (on an estimated basis, if necessary) in accordance with each unit's Percentage Interest as set forth in the Declaration.
Settlement Adjustments. Unless otherwise specified in this Contract, all income, expenses and costs related to the Property shall be prorated as of the day the Closing actually occurs (“Closing Date”) as follows:
Settlement Adjustments. 2.1 The Company’s total costs eligible for securitization shall be $647,670,054, representing a reduction $6,376,755 from the Company’s divestiture-related costs identified in the Motion. This adjustment results in an unrecovered balance of $12,006,854 after recovery from the RRBs. Attachment 1 to this Settlement Agreement provides a summary of the agreed upon costs eligible for securitization and the unrecovered balance.
Settlement Adjustments. All real estate taxes and the annual minimum water and sewer rents or charges, if any, for the current year in which Settlement takes place, assessed or imposed upon the Property, shall be pro-rated to the date of Settlement on the basis of the fiscal year of the taxing authority. At Settlement, Buyer and Seller shall each pay one-half of the total real estate transfer taxes assessed upon this transaction, subject to the obligations of Buyer set forth in paragraph 18 of this Agreement.
Settlement Adjustments. In addition to the foregoing, and not in limitation thereof, Purchaser shall reimburse Seller at settlement for prepaid real estate taxes, assessments and utility charges, if any, on the Property, all of which shall be prorated to the date of settlement and charged to Purchaser as adjustments on the settlement statement. From and after settlement, each of these items shall be assumed and paid, with respect to the Property, solely by Purchaser. If settlement occurs before the District of Columbia shall have issued a separate real estate tax bill for the Unit(s), Purchaser shall comply with such arrangements as may be established by Seller to ensure timely payment of any taxes that may be billed in Seller=s name and/or are based on an assessment of the prior existing tax parcel(s) in the Condominium. If, at the time of settlement, any prepaid item to be charged to Purcha ser as a settlement adjustment shall not have been allocated among the Condominium Units, such item shall be charged to Purchaser, on an estimated basis if necessary, in accordance with the Percentage Interest allocated to the Property as set forth in Exhibit B to the Declaration, prorated to the date of settlement as aforesaid. In the event that any such item is not charged to Purchaser as an adjustment at settlement, or any further adjustment is needed to rectify the difference between the estimated and the actual allocatable amount of any such item, the Association shall promptly undertake to reimburse Seller in full for any advances and prepaid items paid on the Association=s behalf, and Purchaser hereby affirmatively covenants to vote as a Unit Owner to approve such reimbursement in any vote of the Association pertaining thereto. The provisions of this Section 12 shall survive settlement and shall not be merged in the deed of conveyance.
Settlement Adjustments. Unless otherwise specified in this Contract, all expenses and costs related to the FILOT LEASE shall be prorated as of the Closing Date.
Settlement Adjustments. The Contributors and UPREIT will settle the prorations and adjustments as described in Section 16 in the following manner. If Contributors owe the same, on a net basis, to UPREIT, there shall be a reduction in the LP Units. If UPREIT owes the same, on a net basis, to Contributors, there shall be an increase in the LP Units.
Settlement Adjustments. Clause 1.6 of the Merger Agreement is amended to read as follows:
Settlement Adjustments. (a) The [Sponsor] shall make any adjustments applicable to any Monthly Settlement (except that there will be no retroactive adjustments to the Non-Performance Adjustment or Over-Performance Adjustment once calculated by the Sponsor) and any SumTermination Amount payable by the Participant, on the Participant’s Settlement Statement in respect of the Facility for the last day of the month in which the [Sponsor] determines the applicable Monthly Settlement adjustment amounts and, if applicable, SumsTermination Amount, or such later month as determined by the [Sponsor]. Any Settlement Statement that is subject to any Monthly Settlement adjustments shall, in accordance with the IESO Market Rules, set out the basis for the Monthly Settlement with respect to the applicable Settlement Month, the basis for any other payments owing under this Agreement by either Party to the other in the Settlement Month, and will include a description of the components of the Monthly Settlement and other adjustments, as described in this Agreement owing to or from the Participant, as applicable, for the Settlement Month.
Settlement Adjustments. Seller shall pay all ad valorem property taxes respecting the Property for that portion of the calendar year through the day before the Closing Date, and Buyer shall pay the remaining portion of the ad valorem property taxes; in the event either the tax assessment or tax rate for the year in which the Closing occurs is not known as of the Closing Date, the parties shall prorate at Closing on the basis of the last known values and rates and adjust the prorations once such become known for said year. Seller shall not be responsible for any (i) rollback or other deferred taxes, or (ii) governmental special assessments, either pending or confirmed, for paving, sidewalks, water, sewer or other improvements on or adjoining the Property.
