ADJUSTMENTS PROPOSED Sample Clauses
The "ADJUSTMENTS PROPOSED" clause outlines the process by which one party can suggest changes to the terms, pricing, or scope of an agreement. Typically, this clause specifies the method for submitting proposed adjustments, such as requiring written notice and a review period, and may detail how the other party should respond or negotiate. Its core function is to provide a structured mechanism for modifying the agreement in response to changing circumstances, ensuring both parties have a clear and fair process for addressing necessary alterations.
ADJUSTMENTS PROPOSED. The prorations and payments provided for in this Article X shall be made at the Closing on a cash basis and set forth on the Closing Statement, which shall be prepared by Sellers and submitted to the Buyer for its review and approval at least three (3) Business Days prior to the Closing. The following shall be prorated between the Sellers and the Buyer as of the Closing Date (on the basis of the actual number of days elapsed over the applicable period) and shall be added to (if such net amount is in the Sellers’ favor) or deducted from (if such net amount is in the Buyer’s favor) the Gross Asset Value at the Closing, with the Buyer being deemed to be the owner of the Property starting at 12:00 A.M. on the Closing Date (the “Effective Time”) and being entitled to receive all operating income of the Property, and being obligated to pay all operating expenses of the Property, with respect to the Closing Date:
ADJUSTMENTS PROPOSED. The prorations and payments provided for in this Article X shall be made at Closing on a cash basis and set forth on the Closing Statement, which shall be prepared by Seller and submitted to Buyer for its review and approval at least three (3) Business Days prior to the Closing. The following shall be prorated between Seller and Buyer as of the Closing Date (on the basis of the actual number of days elapsed over the applicable period) and shall be added to (if 39 such net amount is in Seller’s favor) or deducted from (if such net amount is in the Buyer’s favor) the Gross Asset Value at Closing, with Buyer being deemed to be the owner of the Property starting at 12:00 A.M. on the Closing Date and being entitled to receive all operating income of the Property, and being obligated to pay all operating expenses of the Property, with respect to the Closing Date: