Tenant Deposits. All tenant and licensee security deposits collected and not applied by Seller (and interest thereon if required by law or contract) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's obligations related to tenant and licensee security deposits, but only to the extent they are credited or transferred to Purchaser.
Appears in 7 contracts
Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.), Purchase and Sale Agreement (Bluerock Residential Growth REIT, Inc.), Purchase and Sale Agreement (Berkshire Income Realty Inc)
Tenant Deposits. All tenant and licensee security deposits collected and not applied by Seller (and interest thereon if required by law or contract) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's ’s obligations related to tenant and licensee security deposits, but only to the extent they are credited or transferred to Purchaser.
Appears in 7 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Strategic Storage Growth Trust, Inc.), Purchase and Sale Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)
Tenant Deposits. All tenant and licensee other security deposits collected and not applied by Seller (and interest thereon if required by law or contractcontract to be earned thereon) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's ’s obligations related to tenant and licensee security deposits, but only to the extent they are properly credited or and transferred to Purchaser.
Appears in 6 contracts
Samples: Purchase and Sale Agreement (Asset Capital Corporation, Inc.), Purchase and Sale Agreement (Asset Capital Corporation, Inc.), Purchase and Sale Agreement (Asset Capital Corporation, Inc.)
Tenant Deposits. All tenant and licensee security deposits collected and not properly applied by Seller (and interest thereon if required by law or contract) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's obligations related to tenant and licensee security deposits, but only to the extent they are credited or transferred to Purchaser.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Berkshire Income Realty, Inc.), Purchase and Sale Agreement (Berkshire Income Realty, Inc.)
Tenant Deposits. All tenant and licensee security deposits the “Tenant Deposits”) collected and not applied by Seller (and interest thereon if required by law or contract) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's obligations related to tenant and licensee security deposits, the Tenant Deposits but only to the extent they are credited or transferred to Purchaser. Any and all deposits, bonuses or similar payments by any licensees under the License Agreements or any vendors under the Service Contracts shall be retained from Seller and not prorated or credited to Purchaser at Closing.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Preferred Apartment Communities Inc)
Tenant Deposits. All tenant and licensee security deposits collected and not applied by Seller (and interest thereon if required by law or contract) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's ’s obligations related to tenant and licensee security deposits, but only to the extent they are credited or transferred to Purchaser. During the term of this Agreement, Seller shall not apply any security deposit without the prior written consent of Purchaser.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Industrial Property Trust Inc.)
Tenant Deposits. All tenant and licensee security deposits collected and not applied by Seller (and interest thereon if required by law or contract) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's obligations related to tenant and licensee security deposits, ; but only to the extent they are credited or transferred to Purchaser.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Amerivest Properties Inc)
Tenant Deposits. All tenant and licensee security deposits collected and not applied by Seller Sellers (and interest thereon if required by law or contract) shall be transferred or credited to Purchaser at Closing. As of the Closing, Purchaser shall assume Seller's Sellers’ obligations related to tenant and licensee security deposits, but only to the extent they are credited or transferred to Purchaser.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.)
