Closing Proration Time means (a) if Strategic’s Contribution Amount is received by Partnership prior to 3:00 P.M. local Atlanta, Georgia time on the Closing Date, as of 11:59 P.M. local Atlanta, Georgia time on the day prior to the Closing Date, in which event the day of Closing shall belong to the Post-Amendment Partnership, and (b) if Strategic’s Contribution Amount is received by Partnership at or after 3:00 P.M. local Atlanta, Georgia time on the Closing Date, 11:59 P.M. local Atlanta, Georgia time on the Closing Date, in which event the day of Closing shall belong to the Pre-Amendment Partnership, and, either at Closing or upon reproration after Closing, Strategic and Partnership shall reprorate as of such new Closing Proration Time.
Closing Proration Time means (a) 11:59 P.M. local New York, New York time on the day prior to the Closing Date if the Investor Capital Contribution is received by Company (or by the Closing Agent, along with authorization from Investor to release such proceeds) prior to 2:00 P.M. local New York, New York time on the Closing Date, in which event the day of Closing shall belong to Investor, or (b) 11:59 P.M. local New York, New York time on the Closing Date if the Investor Capital Contribution is received by Company (or by the Closing Agent) at or after 2:00 P.M. local New York, New York time on the Closing Date, in which event the day of Closing shall belong to Existing Members, and, either at Closing or upon reproration after Closing, Investor and Existing Members shall reprorate as of such new Closing Proration Time.
Closing Proration Time means (a) if the Purchase Price is received by Seller (or by Escrow Agent, along with authorization from Buyer to release such proceeds) prior to 1:00 p.m. local Dallas, Texas time on the Closing Date, as of 11:59 p.m. local Dallas, Texas time on the day prior to the Closing Date, in which event the day of Closing shall belong to Buyer, and (b) if the Purchase Price is received by Seller (or by Escrow Agent) at or after 1:00 p.m. local Dallas, Texas time on the Closing Date (despite Seller having performed all of its covenants, obligations and liabilities under this Agreement in all material respects, but without Seller being obligated to “tender” a formal Closing), 11:59 p.m. local Dallas, Texas time on the Closing Date, in which event the day of Closing shall belong to Seller, and, either at Closing or upon reproration after Closing, Buyer and Seller shall reprorate as of such new Closing Proration Time.
Examples of Closing Proration Time in a sentence
Buyer shall assume and honor for its account all Bookings relating to dates after the Closing Proration Time provided that Seller provides a written account to Buyer of all such Bookings at the Closing.
All Rental Payments received by Seller prior to Closing shall be prorated as of the Closing Proration Time.
Seller and Buyer shall each receive a credit of fifty percent (50%) of Guest Ledger Receivables for the room night when the Closing Proration Time occurs.
Notwithstanding the foregoing, any percentage rents received prior to Closing under any of the Leases shall be prorated as of the Closing Proration Time based on the number of days in the applicable Lease year, with all amounts attributable to days prior to the Closing Proration Time for the account of the Pre-Amendment Partnership and amounts attributable to days after the Closing Proration Time for the account of the Post-Amendment Partnership, all subject to reproration in accordance with Section 6.10.
All ad valorem real estate and personal property taxes, and any sales taxes with respect to Rental Payments, with respect to the Property for the Closing Tax Year (regardless of the year for which such taxes are assessed) shall be prorated as of the Closing Proration Time.
More Definitions of Closing Proration Time
Closing Proration Time means 11:59 p.m. local New York, New York time on the Closing Date. If any Closing Statement reflects prorations calculated based on an incorrect Closing Proration Time, then either at Closing or upon reproration after Closing, Buyers and Seller shall reprorate as of the correct Closing Proration Time.
Closing Proration Time means (a) if the Purchase Price is received by Seller for investment credit (or by the closing agent, along with authorization from Buyer to release such proceeds) prior to 2:00 P.M. local Tampa, Florida time on the Closing Date, as of 11:59 P.M. local Tampa, Florida time on the day prior to the Closing Date, in which event the day of Closing shall belong to Buyer, and (b) if the Purchase Price is received by Seller (or by the closing agent as aforesaid) at or after 2:00 P.M. local Tampa, Florida time on the Closing Date, 11:59 P.M. local Tampa, Florida time on the Closing Date, in which event the day of Closing shall belong to Seller.
Closing Proration Time means (a) if the Purchase Price is received by Seller (or by Escrow Agent, along with authorization from Buyer to release such proceeds) prior to 3:00 p.m. local New York, New York time on the Closing Date, as of 11:59 p.m. local New York, New York time on the day prior to the Closing Date, in which event the day of Closing shall belong to Buyer, and (b) if the Purchase Price is received by Seller (or by Escrow Agent) at or after 3:00 p.m. local New York, New York time on the Closing Date, 11:59 p.m. local New York, New York time on the Closing Date, in Sale Agreement Definitions which event the day of Closing shall belong to Seller, and, either at Closing or upon reproration after Closing, Buyer and Seller shall reprorate as of such new Closing Proration Time.
Closing Proration Time means as of 11:59 P.M. local New York, New York time on the day prior to the Closing Date, in which event the day of Closing shall belong to Venture Five (and the Subsidiary LLCs, as applicable).
Closing Proration Time means the “Closing Proration Time” as defined in the Contribution Agreement.
Closing Proration Time means 11:59 P.M. local time on the day prior to the Closing Date, in which event the day of Closing shall belong to Buyer.
Closing Proration Time means (x) if the Purchase Price (or allocated portion thereof) is received by Seller prior to 5:00 p.m. local New York, New York time on the Closing Date, as of 11:59 p.m. local New York, New York time on the day prior to the Closing Date, in which event Buyer shall be deemed owner of the applicable Properties on the Closing Date for the purposes of prorations hereunder, and (y) if the Purchase Price (or allocated portion thereof) is received by Seller at or after 5:00 p.m. local New York, New York time on the Closing Date, 11:59 p.m. local New York, New York time on the Closing Date in which event Seller shall be deemed owner of the applicable Properties on the Closing Date for the purposes of prorations hereunder. If the Closing Statement reflects prorations calculated based on an incorrect Closing Proration Time, then either at Closing or upon reproration after Closing, Buyer and Seller shall reprorate as of the correct Closing Proration Time. Subject to the foregoing, prorations at Closing shall be calculated as follows: