Examples of Apportioned Obligations in a sentence
The Seller shall be responsible for the portion of such Apportioned Obligations attributable to the period or portion of period ending on the Closing Date.
Each Party shall cooperate in assuring that Apportioned Obligations that are the responsibility of the Seller pursuant to the preceding three (3) sentences are paid by the Seller, and that Apportioned Obligations that are the responsibility of Purchaser pursuant to the preceding three (3) sentences shall be paid by Purchaser.
Purchaser shall be responsible for the portion of such Apportioned Obligations attributable to the period or portion of period ending after the Closing Date.
If it is determined subsequent to the Closing Date that additional real property Taxes, personal property Taxes, or similar obligations that are Apportioned Obligations are required to be paid for the applicable Tax period in which the Closing Date falls, such additional Taxes will be apportioned between the Seller and Purchaser as aforesaid on the basis of each Party’s respective ownership of such Project Company during the applicable Tax period.
If any refund, rebate, or similar payment is received by the Project Company for any real property Taxes, personal property Taxes, or similar obligations that are Apportioned Obligations, such refund shall be apportioned between the Seller and Purchaser as aforesaid on the basis of each Party’s respective ownership of such Project Company during the applicable tax period.