Delinquent Rents definition

Delinquent Rents shall have the meaning set forth in Section 17.9.

Delinquent Rents means Rents which are due and payable prior to or on the day of the Closing or otherwise relate to pre-Closing periods (including, without limitation, the utility charges) but which have not actually been collected by Seller as of the day of the Closing. Seller's account shall not be credited at the Closing for any Delinquent Rents but Seller shall retain all right, title and interest to any Delinquent Rents and Buyer shall have no rights to any Delinquent Rents except as expressly provided in this Section 6.9.2. Commencing as of sixty one (61) days after the Closing Date with respect to any tenants still in residence at the Property, and commencing as of the Closing Date with respect to any tenants no longer in residence at the Property, Seller shall be entitled to institute legal proceedings and otherwise attempt to collect any Delinquent Rents (but without seeking to evict the tenant or otherwise unreasonably interfering with Buyer’s operation of the Property). Notwithstanding anything to the contrary herein, within ninety (90) days after the Closing Date, all reimbursable utility bills for utility charges incurred by Seller and reimbursable to Seller from the tenants under the Leases for periods prior to Closing (“RUBS”), if received by Buyer, shall be remitted by Buyer to Seller; thereafter, Buyer shall have no obligation to remit RUBS income to Seller. Any leasing commissions with respect to the Leases entered into prior to the Closing Date shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.

Delinquent Rents. As defined in Section 4.2.1 (ii).

Examples of Delinquent Rents in a sentence

• Seller may make reasonable efforts to collect Delinquent Rents from and after the Closing Date; provided, however, that Seller shall not be entitled to pursue any action for eviction of any tenant from the Property.

• All prorations will be final except as to Delinquent Rents referred to in b below.

• If any rent or other payments under the Leases are in arrears as of the Closing Date (“Delinquent Rents”), the amount of any such Delinquent Rents which are collected by Purchaser shall be promptly paid by Purchaser to Seller after Closing.

• All rent collected on or after the Closing Date by Seller or Purchaser shall be allocated to the most recent month for which rental is due for that Tenant, including Delinquent Rents.

• Purchaser shall not be obligated to expend any funds or commence legal proceedings to collect any Delinquent Rents.

More Definitions of Delinquent Rents

Delinquent Rents is defined in Section 5.7.

Delinquent Rents. As defined in Section 4.2.1(ii). Xxxxxxx Money. TEN MILLION AND NO/100 DOLLARS ($10,000,000.00) together with any interest earned thereon.

Delinquent Rents means, collectively, any and all amounts due from a tenant under a Lease that (i) are due and owing as of the Closing Date, (ii) have been billed by Seller to such tenant, (iii) relate to periods of time prior to the Closing Date; and (iv) have not actually been collected by Seller as of the Closing.

Delinquent Rents means all rent due and payable as of the Proration Date and applicable, on an accrual basis, to any period of time preceding the Proration Date, including, but not limited to, checks received after the Proration Date, but prior to the Closing Date.

Delinquent Rents has the meaning set forth in Section 1(c) of Schedule 2.

Delinquent Rents means Rents due on or prior to the Effective Date which have not been paid on or before the Effective Date.

Delinquent Rents means all uncollected Rent due in the month in which the Closing occurs from Tenants still occupying their space that are more than thirty (30) days in arrears in payment of their Rent as of the Closing Date. Xxxxxxx Xxxx shall not be considered a Tenant for purposes of the definition of Delinquent Rents and no Rent or other amounts owed by Xxxxxxx Xxxx shall be considered Delinquent Rents.