Common use of Unpaid Rents Clause in Contracts

Unpaid Rents. Seller shall be entitled to all Unpaid Rents for the period prior to Closing and Buyer shall be entitled to all Unpaid Rents from the date of Closing and thereafter. Any sums received by Buyer to which Seller is entitled shall be held in trust for Seller on account of such Unpaid Rents payable to Seller, and Buyer shall remit to Seller any such sums received by Buyer to which Seller is entitled within ten (10) Business Days after receipt thereof. Seller expressly agrees that if Seller receives any Unpaid Rents after the Closing Date which are attributable, in whole or in part, to any period after the Closing Date, Seller shall remit to Buyer that portion of the Unpaid Rents so received by Seller to which Buyer is entitled within ten (10) Business Days after receipt thereof. Without limiting the foregoing, Seller specifically agrees not to undertake any effort to collect unpaid rent or other sums (however denominated) owed to Seller from any person if such person or any affiliate of such person is in possession of any space in the Property at the time of any such collection effort.

Unpaid Rents. As used herein, the term “Unpaid Rents” means any tenant rentals and other sums (however denominated and including without limitation unpaid CAM) owed to the landlord under the Leases from any tenant and not paid as of the Closing Date. Seller shall be entitled to all Unpaid Rents for the period prior to Closing and Buyer shall be entitled to all Unpaid Rents from the date of Closing and thereafter. Any sums received by Buyer to which Seller is entitled shall be held in trust for Seller on account of such Unpaid Rents payable to Seller, and Buyer shall remit to Seller any such sums received by Buyer to which Seller is entitled within ten (10) Business Days after receipt thereof. Seller expressly agrees that if Seller receives any Unpaid Rents after the Closing Date which are attributable, in whole or in part, to any period after the Closing Date, Seller shall remit to Buyer that portion of the Unpaid Rents so received by Seller to which Buyer is entitled within ten (10) Business Days after receipt thereof. Without limiting the foregoing, Seller specifically agrees not to undertake any effort to collect unpaid rent or other sums (however denominated) owed to Seller from any person if such person or any affiliate of such person is in possession of any space in the Property at the time of any such collection effort.

Unpaid Rents. Seller shall be entitled to all Unpaid Rents unpaid rents for the period prior to Closing closing and Buyer Purchaser shall be entitled to all Unpaid Rents unpaid rents from the date of Closing closing and thereafter. Any sums received by Buyer Purchaser to which Seller is entitled shall be held in trust for Seller on account of such Unpaid Rents unpaid rents payable to Seller, and Buyer Purchaser shall remit to Seller any such sums received by Buyer Purchaser to which Seller is entitled within ten (10) Business Days business days after receipt thereof. Seller expressly agrees that if Seller receives any Unpaid Rents unpaid rents after the Closing Date which are attributable, in whole or in part, to any period after the Closing Date, Seller shall remit to Buyer Purchaser that portion of the Unpaid Rents unpaid rents so received by Seller to which Buyer Purchaser is entitled within ten (10) Business Days business days after receipt thereof. Without limiting the foregoing, Seller specifically agrees not to undertake any effort to collect unpaid rent or other sums (however denominated) owed to Seller from any person if such person or any affiliate of such person is in possession of any space in the Property Premises at the time of any such collection effort.