Past Due Rent definition
Examples of Past Due Rent in a sentence
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Subsequent to the Core Portfolio Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs and expenses together with any Past Due Rent actually collected by the Buyer less all fees and expenses incurred by the Buyer in collecting such monies.
Buyer shall cooperate with Seller in its efforts to collect Past Due Rent but shall not be required to incur any cost with respect to such cooperation or take any action against any tenant to terminate the tenant’s lease or right to possession.
Subsequent to the HUD Portfolio Closing Date, the Buyer shall use its commercially reasonable efforts to enforce the terms of the applicable Property Lease and shall remit to Sellers the amount of any such defaulted or disputed costs together with any Past Due Rent actually collected by the Buyer less any fees and expenses incurred by the Buyer in collecting such monies.
If any Past Due Rent is not paid to Seller within sixty (60) days after Closing, Seller shall have the right to attempt to effect collection by litigation or otherwise so long as Seller does not take any action to terminate the tenant’s lease or right to possession.
At the time of its execution of this Relocation Amendment, Tenant shall make payment by certified check to Landlord in the amount of $42,328.83 in consideration of Landlord's agreement to enter into this Relocation Amendment, which enables Tenant to cure all then-outstanding Events of Default under the Lease, including its Past Due Rent.
Read more about our other cases on NCLS on the following page.Former Tenant Sued for 6-year-old Alleged Past Due Rent In a recent case that we have taken on, a young woman was sued for alleged past due rent from an apart- ment that she has not lived in for five years.
Parties expressly granted the right for the Lessor Parties to recover each of (a) the SLV Liquidated Damages (which includes both the Residual Market Value Claims, plus the PV of Lost Future Rent), plus (b) the Past Due Rent, plus (c) the Out of Pocket Costs.
In addition to the Rent, Subtenant shall pay to Landlord the Past Due Rent (without including Interest/Penalties) in thirty-six (36) equal monthly installments, commencing upon the Commencement Date, of $31,057.33 per month.
Purchaser shall, at no cost to Purchaser, cooperate with Seller in its efforts to collect Past Due Rent but shall not be required to take any action against any tenant to terminate the tenant’s Lease or right to possession.