Proratable Items definition

Proratable Items has the meaning set forth in Section 2.8(c).
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Proratable Items shall have the meaning set forth in Section 5.5.1.
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Examples of Proratable Items in a sentence

  • At Closing, general and special real estate taxes, installments of assessments not due and payable as of Closing, and all other proratable items, if any (the "Proratable Items") shall be prorated as of the Closing Date based on 100% of the last ascertainable bills therefor, and said prorations shall be a credit against the Purchase Price due Seller on the Closing Date.

  • Seller and Purchaser hereby agree to reprorate the Proratable Items when the actual bills for such Proratable Items are issued.

  • Seller and Purchaser acknowledge that Seller shall be responsible for all Proratable Items relating to periods prior to the Closing Date regardless of when such Proratable Items shall become due and payable, and Purchaser shall be responsible for all such Proratable Items relating to periods from and after the Closing Date.

  • The general real estate taxes and assessments, water and sewer charges, utility bills, prepaid charges, payments and accrued expenses relating to the Real Property, and any leases, licenses, occupancy certificates, and any and all other items relating thereto not specifically mentioned which are customarily apportioned in real estate transactions of this kind (the "Proratable Items") shall be apportioned as of the Closing Date.

  • Notwithstanding anything to the contrary contained herein, Seller and Purchaser acknowledge that Seller shall be responsible for the Proratable Items relating to periods on or before the Closing Date regardless of when such Proratable Items shall become due and payable, and Purchaser shall be responsible for all such Proratable Items relating to periods after the Closing Date.

  • In the event that the Working Capital plus Cap-Ex Amount plus Proratable Items as of the Closing Date is negative, Buyer shall be entitled to the amount of such deficit.

  • General and special real estate taxes, utilities charges and installments of assessments not due and payable on the Fee Property as of the Closing (the "Proratable Items") shall be prorated and adjusted ratably between Parent and Buyer as of Closing.

  • In the event the Working Capital plus Cap-Ex Amount plus Proratable Items as determined pursuant to Section 2.4(b) is negative ("NEGATIVE WORKING CAPITAL AMOUNT"), Seller shall either: (i) pay such Negative Working Capital Amount to Buyer at Closing by wire transfer of immediately available funds to an account or accounts designated by Buyer or its representative; or (ii) authorize a reduction in the Base Amount equal to the Negative Working Capital Amount.

Related to Proratable Items

  • Distributable Items means, as prescribed by CRD IV, the amount of the profits at the end of the last financial year plus any profits brought forward and reserves available for that purpose before distributions to holders of own funds instruments less any losses brought forward, profits which are non-distributable pursuant to provisions in legislation or the institution’s by-laws and sums placed to non-distributable reserves in accordance with applicable national law or the statutes of the institution, those losses and reserves being determined on the basis of the individual accounts of the institution and not on the basis of the consolidated accounts, or any successor provision thereto;

  • Reimbursable item also means “allowable cost” and “compensable item.”

  • Lease Items means all of the infrastructural facilities, plant/equipment vehicles or such other physical items the Lessor is required to lease to the Procuring Entity under the Contract.

  • Issuance Items has the meaning set forth in Section 3.3(h) hereof.

  • Disposable income means that part of the income due and payable of any individual remaining