PREPAID RENTS AND SECURITY DEPOSITS. All prepaid rents (including any prepaid real estate tax payments) and security and other deposits of all tenants under Leases not theretofore applied, with interest thereon to the extent any interest is required to be paid to such tenants, shall be delivered by Seller to Buyer on the Closing Date, or Seller may elect to give Buyer a credit against the Purchase Price in the amount of such prepaid rent or deposits.
PREPAID RENTS AND SECURITY DEPOSITS. All (i) prepaid, overpaid rents and similar amounts and (ii) security and other deposits of all Tenants under Leases not theretofore applied, with interest thereon to the extent any interest is required to be paid to such Tenants (the “Tenant Deposits”), shall be delivered by Seller to Purchaser on the Closing Date, or Seller may elect to give Purchaser a credit against the Purchase Price in the amount of such prepaid rent or Tenant Deposits. Whether Seller elects to deliver the prepaid rent and Tenant Deposits to Purchaser or give Purchaser a credit against the Purchase Price in the amount of such prepaid rent and Tenant Deposits, Seller shall deliver to Purchaser appropriate instruments of transfer or assignment with respect to any guaranties, pledge agreements, letters of credit or other financial assurances securing the obligations of Tenants under the Leases which are other than cash. If Seller elects to give Purchaser a credit against the Purchase Price for the prepaid rent and Tenant Deposits, Seller shall provide Purchaser with a true, correct and complete accounting (properly reconciled) of all such Tenant Deposits and an inventory of all residents’ property held by Seller or Property Manager on the Closing Date for Tenants.
PREPAID RENTS AND SECURITY DEPOSITS. All prepaid rents and security and other deposits of all tenants under Space Leases paid to Seller and not theretofore applied in accordance with any such Space Lease, with interest thereon to the extent any interest is required to be paid to such tenants, shall be delivered by Seller to Purchaser at the Closing, or Purchaser shall receive a credit therefor at Closing.
PREPAID RENTS AND SECURITY DEPOSITS. All prepaid Rents and security and other deposits of all tenants under Leases not theretofore applied, with interest thereon to the extent any interest is required to be paid to such tenants, shall be delivered by Seller to Purchaser on the Closing Date, or Seller may elect to give Purchaser a credit against the Purchase Price in the amount of such prepaid Rent or deposits. All rents and other receipts payable for the month in which the Closing occurs shall be prorated as of the Closing. If any tenant under a Lease is delinquent in such month, Seller shall pay to Purchaser a pro-rated amount of the scheduled monthly rent under such Lease. Seller shall not apply any security deposits after the date of the execution of this Agreement without Purchaser's prior consent, which shall not be unreasonably withheld, delayed, or conditioned.
PREPAID RENTS AND SECURITY DEPOSITS. A Successor Lessor shall not be liable for (a) any security deposit or prepaid rent except to the extent actually received by Lender from Borrower, or (b) any rent or additional rent which Lessee has paid for more than the then-current installment.
PREPAID RENTS AND SECURITY DEPOSITS. Seller shall reasonably estimate the amount of all prepaid rents (net of any outstanding amounts due landlord on a tenant by tenant basis) ("Net Prepaid Rents") and all security and other deposits of tenants under Leases not theretofore applied as of the Closing Date, with interest thereon to the extent any interest is required to be paid to such tenants under the terms of their Leases. Purchaser shall receive a credit against the Purchase Price for such net amount. On the Recalculation Date, Seller shall recalculate such estimate in accordance with the provisions of Section 6.2(m) below and remit to Purchaser (or if applicable, Purchaser shall pay to Seller) the difference between such estimate and the recalculated amount. Purchaser shall accept the liability for the proper application of such prepaid rents and security deposits.
PREPAID RENTS AND SECURITY DEPOSITS. At Closing, any prepaid rents and security deposits provided for in the Leases and not previously applied pursuant thereto (together with any interest accrued thereon and credited to the tenant under the Leases) shall be transferred to Buyer or the LLC either directly or, at Seller's option, by way of a credit in favor of Buyer. -18-
PREPAID RENTS AND SECURITY DEPOSITS. Trustor hereby assigns to Beneficiary a security interest in all prepaid rents and security deposits and all other security which Landlord now or hereafter holds for the performance of Trustor's obligations tinder the Lease.
PREPAID RENTS AND SECURITY DEPOSITS. All prepaid rents of all tenants under Leases not theretofore applied by Seller, with interest thereon to the extent any interest is required to be paid to such tenants under the terms of their Leases, shall be prorated as of the end of the Closing Date. Purchaser shall receive a credit at Closing for 100% of the security deposits and related interests held by Seller under the Leases as of the Closing Date. Seller shall not apply any security deposits held thereby as of the date of this Agreement to any delinquent amounts owing by tenants, unless the applicable Lease expires or the applicable tenant vacates its premises.
PREPAID RENTS AND SECURITY DEPOSITS. All prepaid rents under any Lease for periods after the Settlement Date and all refundable security deposits (including any refundable pet deposits) required to be held under the Leases shall be paid to Purchaser or credited against the Purchaser Price at Settlement.
