Examples of Closing Month in a sentence
SCOLP shall be paid or shall receive a credit for the pro rata share of the collected Rents received for the Closing Month.
SCOLP shall either pay the Contributor or provide the Contributor with a credit for (x) all unpaid Rents from tenants who are not delinquent more than thirty days as of the Closing Date (for those residents which remain in occupancy at the Project); and (y) the pro rata share of the total unpaid Rents for the Closing Month based upon the number of days in such month.
In addition, (i) all delinquent amounts relating to the month in which the Closing occurs ("CLOSING MONTH DELINQUENT AMOUNTS") shall be collected by Buyer and, upon receipt of such amounts by Buyer, shall be divided, pro-rata, amongst Seller and Buyer in accordance with the method set out in subsection 3(b)(ii) of this Agreement, and (ii) on the Closing Date, Seller and Buyer shall prepare a list of the Closing Month Delinquent Amounts.
If the Rents have not been paid for the current month as of the Closing Date (the "Closing Month Rents"), the prorated amount of the Closing Month Rents that would be due Seller had the Lessee paid such amount for such month shall be paid to Seller at Closing by Purchaser, and Purchaser shall be responsible for collecting the Closing Month Rents from the Lessee.
As the result of the payment in arrears under the Leases, any rent owed under the Leases during the month in which the Closing occurs (the “Closing Month”) shall be prorated between Contributor and Operating Partnership based upon each parties’ period of ownership of the Property LLCs during the Closing Month.