Closing Date Proration definition
Examples of Closing Date Proration in a sentence
Provided, Seller shall obtain meter readings on the day immediately preceding the Closing Date ("Proration Date"), and if such readings are obtained, there shall be no proration of such items and Seller shall pay the bills therefor for the period through the Proration Date, and Purchaser shall pay the bills therefor for the period subsequent to the Proration Date as and when rendered.
No later than thirty (30) days after the Closing, the Company and Holding Co. shall collectively and jointly determine and calculate, with respect to 150 Mt. Bethel Road, the apportionment, as of midnight of the Closing Date, of real estate taxes, utilities and other expense items (but not items of Income, which are to be allocated as provided in the preceding sentence) that are customarily apportioned between buyers and sellers of real estate (collectively, the "Closing Date Proration").
If the Closing Date Proration shall be a credit to the Company, Holding Co. shall remit to the Company an amount equal to the Closing Date Proration.
Rents (exclusive of delinquent rents, but including prepaid rents); security and cleaning deposits (which will be assigned to and assumed by Purchaser and credited to Purchaser at Closing); water and other utility charges; fuels; prepaid operating expenses; real and personal property taxes; and other similar items shall be adjusted ratably as of 12:01 A.M. on the Closing Date ("Proration Date"), and credited or debited to the balance of the cash due at Closing.
If the Closing Date Proration shall be a credit to Holding Co., the Company shall remit to Holding Co. an amount equal to the Closing Date Proration.
Seller shall be responsible for payment to the collection authorities of all real estate taxes and installments of special assessments affecting the Real Property (collectively, "Taxes") which have been assessed and which are due and payable as of the date immediately preceding the Closing Date ("Proration Date"), and Purchaser shall be responsible for payment to the collecting authorities of all Taxes which have been or will be assessed and which become due and payable after the Proration Date.
Rents (exclusive of delinquent rents, but including prepaid rents); refundable security deposits (which will be assigned to and assumed by Purchaser and credited to Purchaser at Closing); water and other utility charges; fuels; prepaid operating expenses; real and personal property taxes; and other similar items shall be adjusted ratably as of 11:59 P.M. on the Closing Date ("Proration Date"), and credited or debited to the_balance of the cash due at Closing.
Seller shall be responsible for payment to the collecting authorities of all real estate taxes and installments of special assessments affecting the Real Property (collectively "Taxes") which have been assessed and which are due and payable as of the date immediately preceding the Closing Date ("Proration Date"), and Purchaser shall be responsible for payment to the collecting authorities of all Taxes which have been or will be assessed and which become due and payable after the Proration Date.
Rents (exclusive of delinquent rents, but including prepaid rents); water and other utility charges; fuels; prepaid operating expenses; prepaid Service Contract payments; management fees in the amount of 5% of collections for the month in which the Closing occurs; real and personal property taxes; and other similar items shall be adjusted ratably as of 12:01 A.M. on the Closing Date ("Proration Date"), and credited or debited to the balance of the cash due at Closing.
Rents (exclusive of delinquent rents, but including prepaid rents); refundable security deposits (which will be assigned to and assumed by Purchaser and credited to Purchaser at Closing); water and other utility charges; fuels; prepaid operating expenses relating only to assumed service contracts; real and personal property taxes; and other similar items shall be adjusted ratably as of 12:01 A.M. on the Closing Date ("Proration Date"), and credited or debited to the balance of the cash due at Closing.