Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements (collectively, “Tenant Receivables”) and not collected by Seller as of Closing shall prorated as follows: Tenant Receivables that are from 0-30 days past due as of the Closing Date will be credited to Seller at Closing and all other Tenant Receivables that are 31 or more days past due at Closing are assigned and apportioned to Purchaser (without proration at Closing).
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Strategic Storage Growth Trust, Inc.)
Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements (collectively, “"Tenant Receivables”") and not collected by Seller Sellers as of Closing shall prorated as follows: Tenant Receivables that are from 0-30 days past due as of the Closing Date will be credited to Seller Sellers at Closing and all other Tenant Receivables that are 31 or more days past due at Closing are assigned and apportioned to Purchaser (without proration at Closing).
Appears in 1 contract
Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.)
Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements (collectively, “"Tenant Receivables”") and not collected by Seller as of Closing shall prorated as follows: Tenant Receivables that are from 0-30 days past due as of the Closing Date will be credited to Seller at Closing and all other Tenant Receivables that are 31 or more days past due at Closing are assigned and apportioned to Purchaser (without proration at Closing).
Appears in 1 contract
Samples: Purchase and Sale Agreement (Strategic Storage Trust IV, Inc.)
Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements and operating expenses and/or taxes payable by tenants under Leases (collectively, “Tenant Receivables”) and not collected by Seller as of Closing shall not be prorated between Seller and Purchaser at Closing but shall be apportioned within sixty (60) days after Closing on the basis of the period for which the same is payable and if, as and when collected, as follows: Tenant Receivables that are from 0-30 days past due as of the Closing Date will be credited to Seller at Closing and all other Tenant Receivables that are 31 or more days past due at Closing are assigned and apportioned to Purchaser (without proration at Closing).:
Appears in 1 contract
