Common use of Credits and Prorations Clause in Contracts

Credits and Prorations. 4.4.1 Pursuant to the other terms and provisions of this Section 4.4, the following shall be apportioned with respect to the Properties as of 12:01 a.m., on the day of Closing, as if Purchaser were vested with title to the Properties during the entire day upon which Closing occurs: (i) rents, if any, as and when collected (the term “rents” as used in this Agreement includes all payments due and payable by Tenants under the Assigned Leases), (ii) taxes and assessments levied against the Properties (such to be done on a “cash basis”), (iii) payments under the Assigned Contracts, (iv) gas, electricity and other utility charges for which any Seller Entity is liable, if any, such charges to be apportioned at Closing on the basis of the most recent meter reading occurring prior to Closing, and (v) any other operating expenses or other items pertaining to any Respective Property which are customarily prorated between a purchaser and a seller in the area in which the Respective Property is located.

Credits and Prorations. 4.4.1 Pursuant to the other terms and provisions of this Section 4.4, the The following shall be apportioned with respect to the Properties Property as of 12:01 a.m., on the day of the applicable Closing, as if Purchaser were vested with title to the Properties Property during the entire day upon which such Closing occurs: (i) rents, if any, as and when collected (the term “rents” as used in this Agreement includes all payments due and payable by Tenants tenants under the Assigned LeasesLeases and shall take into account any concessions relating to any Lease), (ii) taxes (including personal property taxes on the Personal Property) and assessments levied against the Properties (such to be done on a “cash basis”)Property, (iii) payments under the Assigned ContractsOperating Agreements, (iv) gas, electricity and other utility charges for which any Seller Entity is liable, if any, such charges to be apportioned at Closing on the basis of the most recent meter reading occurring prior to Closing, and (v) any other operating expenses or other items pertaining to any Respective the Property which are customarily prorated between a purchaser and a seller in the area in which the Respective Property is located.

Credits and Prorations. 4.4.1 Pursuant to (a) All income and expenses of the other terms and provisions of this Section 4.4, the following Property shall be apportioned with respect to the Properties as of 12:01 a.m., on the day of Closing, as if Purchaser were vested with title to the Properties Property during the entire day upon which Closing occurs. Subject to the provisions of this Section 4.4, such prorated items shall include without limitation the following: (i) rentsall Rents, if any, as and when collected (the term “rents” as used in this Agreement includes all payments due and payable by Tenants under the Assigned Leases), ; (ii) taxes and assessments (including personal property taxes on the Personal Property) levied against the Properties (such to be done on a “cash basis”), Property; (iii) payments under the Assigned Contracts, (iv) gas, electricity and other utility charges for which any Seller Entity is liable, if any, such charges to be apportioned at Closing on the basis of the most recent meter reading occurring prior to Closing (dated not more than fifteen (15) days prior to Closing) or, if unmetered, on the basis of a current xxxx for each such utility; (iv) all amounts payable under brokerage agreements and Operating Agreements, pursuant to the terms of this Agreement; and (v) any other operating expenses or other items pertaining to any Respective the Property which are customarily prorated between a purchaser and a seller in the area county in which the Respective Property is located.