Common use of Tax Prorations Clause in Contracts

Tax Prorations. Real and personal property taxes for the Properties shall be prorated between Buyers and Sellers as of the Effective Date. If the actual taxes are not known on the Closing Date, Sellers’ share of such taxes shall be determined by using (a) the rates and millage for the year prior to the year in which the Closing occurs, with appropriate adjustments for any known and verifiable changes thereto, and (b) the assessed values for the year in which Closing occurs. When Buyers receive the actual tax statements for the Properties from the appropriate taxing authorities, Buyers shall deliver to Sellers a copy of such statements, together with the amount, if any, by which Sellers’ proration exceeds the proration that would have been made had actual tax statements been used to calculate Sellers’ proration. If the proration for Sellers that would have been made using actual tax statements exceeds that made at Closing, Sellers shall pay to Buyers such difference within three Business Days of receipt of such statement.

Tax Prorations. Real and personal property taxes for the Properties shall be prorated between Buyers Buyer and Sellers Seller as of the Effective Date. If the actual taxes are not known on the Closing Date, Sellers’ Seller's share of such taxes shall be determined by using (a) the rates and millage for the year prior to the year in which the Closing occurs, with appropriate adjustments for any known and verifiable changes thereto, and (b) the assessed values for the year in which Closing occurs. When Buyers receive Buyer receives the actual tax statements for the Properties from the appropriate taxing authorities, Buyers Buyer shall deliver to Sellers Seller a copy of such statements, together with the amount, if any, by which Sellers’ Seller's proration exceeds the proration that would have been made had actual tax statements been used to calculate Sellers’ Seller's proration. If the proration for Sellers Seller that would have been made using actual tax statements exceeds that made at Closing, Sellers Seller shall pay to Buyers Buyer such difference within three Business Days of receipt of such statement.

Tax Prorations. Real and personal property taxes for the Properties shall be prorated between Buyers Buyer and Sellers Seller as of the Effective DateTime. If the actual taxes are not known on the Closing Date, Sellers’ Seller’s share of such taxes shall be determined by using (a) the rates and millage for the year prior to the year in which the Closing occurs, with appropriate adjustments for any known and verifiable changes thereto, and (b) the assessed values for the year in which Closing occurs. When Buyers receive Buyer receives the actual tax statements for the Properties from the appropriate taxing authorities, Buyers Buyer shall deliver to Sellers Seller a copy of such statements, together with the amount, if any, by which Sellers’ Seller’s proration exceeds or is less than the proration that would have been made had actual tax statements been used to calculate Sellers’ Seller’s proration. If the proration for Sellers Seller that would have been made using actual tax statements exceeds that made at Closing, Sellers Seller shall pay to Buyers Buyer such difference within three (3) Business Days of receipt of such statement. If the proration for Seller that would have been made using actual tax statements is less than that made at Closing, Buyer shall pay to Seller such difference within three (3) Business Days of receipt of such statement.

Tax Prorations. Real and personal property taxes for the Properties shall be prorated between Buyers and Sellers as of the Effective Date. If the actual taxes are not known on the Closing Date, Sellers’ share of such taxes shall be determined by using (a) the rates and millage mileage for the year prior to the year in which the Closing occurs, with appropriate adjustments for any known and verifiable changes thereto, and (b) the assessed values for the year in which Closing occurs. When Buyers receive the actual tax statements for the Properties from the appropriate taxing authorities, Buyers shall deliver to Sellers a copy of such statements, together with the amount, if any, by which Sellers’ proration exceeds the proration that would have been made had actual tax statements been used to calculate Sellers’ proration. If the proration for Sellers that would have been made using actual tax statements exceeds that made at Closing, Sellers shall pay to Buyers such difference within three Business Days of receipt of such statement.