Common use of Unknown Rents Clause in Contracts

Unknown Rents. As used herein, the term “Unknown Rents” means any Rents that have accrued as of the Closing but are not due and payable on the Closing Date: (i) because the lease year or other fiscal period for which such Rents are to be computed has not yet expired (including, by way of example only, escalation charges and percentage rents), or (ii) because for any other reason the amount of such Rents cannot be calculated on the Closing Date. Unknown Rents shall not be prorated at Closing but shall be apportioned promptly after expiration of the applicable lease year or other fiscal period and collection of the Unknown Rents. Purchaser shall make reasonable efforts or shall cause the Company to make reasonable efforts to ascertain the amount of the Unknown Rents (but shall not be obligated to commence any action or proceeding to collect Unknown Rents), and when the amounts of the Unknown Rents are ascertained and collected by Purchaser or the Company, Purchaser shall promptly pay (or cause the Company to pay) to Seller a portion (the “Pro Rata Share”) of the Unknown Rents determined by multiplying the Unknown Rents collected by a fraction, the numerator of which is the number of days in the applicable lease year or other fiscal period up to but excluding the Closing Date and the denominator of which is the number of days in the lease year or other fiscal period, less any monies Seller has previously received on account of the Unknown Rents and Seller’s Pro Rata Share of the third party expenses incurred by Purchaser in the collection of the Unknown Rents. In the event it is determined after Closing that the amount of the Unknown Rents received by Seller exceeds the Seller’s Pro Rata Share, Seller shall promptly pay such excess to Purchaser upon demand.

Unknown Rents. As used herein, the term “Unknown Rents” means any Any Rents that which have accrued as of the Closing but are not due and payable on the applicable Closing Date: (i) Date because the lease applicable Lease or New Lease year or other fiscal period for the subject Phase for which such Rents are to be computed has not yet expired (including, including by way of example only, escalation charges and percentage rents), ) or (ii) because if it has expired but cannot for any other reason the amount of such Rents cannot be calculated by the Parties on the such Closing Date. Date ("Unknown Rents shall not be prorated at Closing but Rents"), shall be apportioned promptly after (i) the expiration of the applicable lease Lease or New Lease year or other fiscal period period, and (ii) the receipt and collection of the Unknown Rents. Purchaser shall make reasonable efforts or shall cause the Company to make reasonable efforts to ascertain the amount of the Unknown Rents (but but, shall not be obligated to commence any action or proceeding to collect Unknown Rents, except that Purchaser shall reasonably cooperate with Seller in respect to the Assignment Reservation as provided in Paragraph 13.03 hereof), and when the amounts of the Unknown Rents are ascertained ascertained, received and collected by Purchaser or the CompanyPurchaser, Purchaser shall promptly pay (or cause the Company to pay) to Seller a portion (the “"Pro Rata Share”") of the Unknown Rents determined by multiplying the Unknown Rents collected by a fraction, the numerator of which is the number of days in the applicable lease Lease or New Lease year or other fiscal period up to but excluding the applicable Closing Date and the denominator of which is the number of days in the lease applicable Lease or New Lease year or other fiscal period, less any monies Seller has previously received on account of the Unknown Rents and Seller’s 's Pro Rata Share of the third party expenses Litigation Expenses incurred by Purchaser in the collection of the Unknown Rents. In the event it is determined after the applicable Closing that the amount of the Unknown Rents received by Seller exceeds the Seller’s 's Pro Rata Share, Seller shall promptly pay such excess to Purchaser upon demand. Notwithstanding anything to the contrary, Seller shall have the right to commence any action or proceeding, except a summary depossess or an eviction action, against any Tenant for Seller's portion of any Unknown Rents.

Unknown Rents. As used herein, the term “Unknown Rents” means any Any Rents that which have accrued as of the Closing but are not due and payable on the Closing Date: (i) Date because the lease applicable Lease or New Lease year or other fiscal period for which such Rents are to be computed has not yet expired (including, including by way of example only, escalation charges and percentage rents), ) or (ii) because if it has expired but cannot for any other reason the amount of such Rents cannot be calculated by the Parties on the Closing Date. Date ("Unknown Rents shall not be prorated at Closing but Rents"), shall be apportioned promptly after (i) the expiration of the applicable lease Lease or New Lease year or other fiscal period period, and (ii) the receipt and collection of the Unknown Rents. Purchaser shall make reasonable efforts or shall cause the Company to make reasonable efforts to ascertain the amount of the Unknown Rents (but but, shall not be obligated to commence any action or proceeding to collect Unknown Rents, except that Purchaser shall reasonably cooperate with Seller in respect to the Assignment Reservation as provided in Paragraph 13.03 hereof), and when the amounts of the Unknown Rents are ascertained ascertained, received and collected by Purchaser or the CompanyPurchaser, Purchaser shall promptly pay (or cause the Company to pay) to Seller a portion (the “"Pro Rata Share”") of the Unknown Rents determined by multiplying the Unknown Rents collected by a fraction, the numerator of which is the number of days in the applicable lease Lease or New Lease year or other fiscal period up to but excluding the Closing Date and the denominator of which is the number of days in the lease year or other fiscal period, less any monies Seller has previously received on account of the Unknown Rents and Seller’s Pro Rata Share of the third party expenses incurred by Purchaser in the collection of the Unknown Rents. In the event it is determined after Closing that the amount of the Unknown Rents received by Seller exceeds the Seller’s Pro Rata Share, Seller shall promptly pay such excess to Purchaser upon demand.but

Unknown Rents. As used herein, the term “Unknown Rents” means any Any Rents that which have accrued as of the Closing but are not due and payable on the Closing Date: (i) Date because the lease applicable Lease or New Lease year or other fiscal period for which such Rents are to be computed has not yet expired (including, including by way of example only, escalation charges and percentage rents), ) or (ii) because if it has expired but cannot for any other reason the amount of such Rents cannot be calculated by the Parties on the Closing Date. Date ("Unknown Rents shall not be prorated at Closing but Rents"), shall be apportioned promptly after (i) the expiration of the applicable lease Lease or New Lease year or other fiscal period period, and (ii) the receipt and collection of the Unknown Rents. Purchaser shall make reasonable efforts or shall cause the Company to make reasonable efforts to ascertain the amount of the Unknown Rents (but but, shall not be obligated to commence any action 33 39 or proceeding to collect Unknown Rents, except that Purchaser shall reasonably cooperate with Seller in respect to the Assignment Reservation as provided in Paragraph 13.03 hereof), and when the amounts of the Unknown Rents are ascertained ascertained, received and collected by Purchaser or the CompanyPurchaser, Purchaser shall promptly pay (or cause the Company to pay) to Seller a portion (the “"Pro Rata Share”") of the Unknown Rents determined by multiplying the Unknown Rents collected by a fraction, the numerator of which is the number of days in the applicable lease Lease or New Lease year or other fiscal period up to but excluding the Closing Date and the denominator of which is the number of days in the lease applicable Lease or New Lease year or other fiscal period, less any monies Seller has previously received on account of the Unknown Rents and Seller’s 's Pro Rata Share of the third party expenses Litigation Expenses incurred by Purchaser in the collection of the Unknown Rents. In the event it is determined after Closing that the amount of the Unknown Rents received by Seller exceeds the Seller’s 's Pro Rata Share, Seller shall promptly pay such excess to Purchaser upon demand. Notwithstanding anything to the contrary, Seller shall have the right to commence any action or proceeding, except a summary depossess or an eviction action, against any Tenant for Seller's portion of any Unknown Rents.

Unknown Rents. As used herein, the term “Unknown Rents” means any Any Rents that which have accrued as of the Closing but are not due and payable on the Closing Date: (i) Date because the lease applicable Lease or New Lease year or other fiscal period for which such Rents are to be computed has not yet expired (including, including by way of example only, escalation charges and percentage rents), ) or (ii) because if it has expired but cannot for any other reason the amount of such Rents cannot be calculated by the Parties on the Closing Date. Date ("Unknown Rents shall not be prorated at Closing but Rents"), shall be apportioned promptly after (i) the expiration of the applicable lease Lease or New Lease year or other fiscal period period, and (ii) the receipt and collection of the Unknown Rents. Purchaser shall make reasonable efforts or shall cause the Company to make reasonable efforts to ascertain the amount of the Unknown Rents (but but, shall not be obligated to commence any action or proceeding to collect Unknown Rents, except that Purchaser shall reasonably cooperate with Seller in respect to the Assignment Reservation as provided in Paragraph 13.03 hereof), and when the amounts of the Unknown Rents are ascertained ascertained, received and collected by Purchaser or the CompanyPurchaser, Purchaser shall promptly pay (or cause the Company to pay) to Seller a portion (the “"Pro Rata Share”") of the Unknown Rents determined by multiplying the Unknown Rents collected by a fraction, the numerator of which is the number of days in the applicable lease Lease or New Lease year or other fiscal period up to but excluding the Closing Date and the denominator of which is the number of days in the lease applicable Lease or New Lease year or other fiscal period, less any monies Seller has previously received on account of the Unknown Rents and Seller’s 's Pro Rata Share of the third party expenses Litigation Expenses incurred by Purchaser in the collection of the Unknown Rents. In the event it is determined after Closing that the amount of the Unknown Rents received by Seller exceeds the Seller’s 's Pro Rata Share, Seller shall promptly pay such excess to Purchaser upon demand. Notwithstanding anything to the contrary, Seller shall have the right to commence any action or proceeding, except a summary depossess or an eviction action, against any Tenant for Seller's portion of any Unknown Rents.

Unknown Rents. As used herein, the term “"Unknown Rents” " means any Rents that have accrued as of the Closing but are not due and payable on the Closing Date: (i) because the lease year or other fiscal period for which such Rents are to be computed has not yet expired (including, by way of example only, escalation charges and percentage rents), or (ii) because for any other reason the amount of such Rents cannot be calculated on the Closing Date. Unknown Rents shall not be prorated at Closing but shall be apportioned promptly after expiration of the applicable lease year or other fiscal period and collection of the Unknown Rents. Purchaser shall make reasonable efforts or shall cause the Company to make reasonable efforts to ascertain the amount of the Unknown Rents (but shall not be obligated to commence any action or proceeding to collect Unknown Rents), and when the amounts of the Unknown Rents are ascertained and collected by Purchaser or the CompanyPurchaser, Purchaser shall promptly pay (or cause the Company to pay) to Seller a portion (the “"Pro Rata Share”") of the Unknown Rents determined by multiplying the Unknown Rents collected by a fraction, the numerator of which is the number of days in the applicable lease Lease year or other fiscal period up to but excluding the Closing Date and the denominator of which is the number of days in the lease year or other fiscal period, less any monies Seller has previously received on account of the Unknown Rents and Seller’s 's Pro Rata Share of the third party expenses incurred by Purchaser in the collection of the Unknown Rents. In the event it is determined after Closing that the amount of the Unknown Rents received by Seller exceeds the Seller’s 's Pro Rata Share, Seller shall promptly pay such excess to Purchaser upon demand.