Prorated Items. (a) The following items are to be computed and apportioned as of 11:59 p.m. (Irvine, California time) on the calendar day immediately preceding the Closing Date (such time on such date being referred to as the "Proration Date"):
Prorated Items. When preparing the escrow closing statement for each Party, Escrow Agent shall prorate the following items between the Parties as of the date and time described below: (i) all ad valorem taxes and special taxes or assessments levied or assessed against the CSU Property; (ii) all utility costs and other expenses of operating the Real Property, if any; and (iii) all collected and uncollected rent and other income pursuant to the Leases in e fect on the Closing Date. The taxes and assessments, if any, shall be prorated for the year of the Closing as of 11:59 p.m. on the day immediately preceding the Closing Date. If the Closing occurs before the tax rate or the assessed valuation is fixed for the then-current year, the prorating of ad valorem taxes shall be based upon the tax rate and the assessed valuation for the preceding tax year. The utility costs and other expenses of operating the Real Property shall be prorated for the month of the Closing as of 11:59 p.m. on the day immediately preceding the Closing Date, utilizing the most recently available meter reading or other reliable information that the Parties reasonably agree upon for purposes of apportioning such costs and expenses. The Parties agree to reasonably apportion applicable taxes and costs between them upon the Closing, consistent with the provisions of this Section 9.9. The Closing shall constitute the final reconciliation of all taxes and costs to be apportioned between the Parties with respect to the Real Property. The collected and uncollected rent and other income from Leases shall be prorated for the month of the Closing as of 11:59 p.m. on the day immediately preceding the Closing Date. CSU shall receive a credit in an amount equal to any security deposits held by the City pursuant to the Leases, which credit will be reflected on the closing statements. To the extent rents and other income from the CSU Property are received by the City or by CSU after the Closing but are for any period of time before the Closing Date, such rents and other income belong to the City and shall immediately be remitted to the City and CSU shall have no right to such income. To the extent rents and other income from the CSU Property are received by the City or by CSU after the Closing but are for any period of time on or after the Closing Date, such rents and other income belong to CSU and shall immediately be remitted to CSU and the City shall have no right to such income. Promptly after the Closing, the City...
Prorated Items. Rent; insurance, if assigned; fuel; association fees/dues; interest on any existing land contract, mortgage or lien assumed and/or to be paid by the Buyer will be adjusted to the date of closing of the sale.
Prorated Items. The following items shall be prorated between Seller and Buyer as of 12:00:01 a.m., local time, on the Closing Date:
Prorated Items. The following prorations shall be made as of 12:01 a.m. on the day the Closing occurs on the basis of a 365-day year. At least five (5) business days prior to the Closing Date, Escrow Holder shall deliver to Seller and Buyer a tentative closing and proration schedule setting forth a preliminary determination of all closing costs described below and the following prorations:
Prorated Items. As appropriate, special assessments on the Real Estate, rents, real property taxes (based on the most recently ascertainable assessed value and the most recently ascertainable tax multipliers), personal property taxes, Georgia business and occupation taxes, utility payments, bonus and incentive payments payable to Branch employees for calendar 2014, insurance premiums and similar expenses relating to the physical plant of the Branch, state or federal taxes collected but not remitted as contemplated by Section 30 below, Federal Deposit Insurance Corporation (“FDIC”) premiums and assessments relating to the Deposits (based on the lower of the FDIC assessment rate of Buyer or Seller), Lease security deposits (100% of which shall be considered a prorated item credited to the benefit of Seller) and any other expenses, accruals, prepaids and payments relating to the Assets or the Deposits will be prorated as of the Effective Time. Seller will receive a proportionate monetary adjustment to the extent an item has been prepaid by Seller for a period extending beyond the Effective Time, and Buyer will receive a proportionate monetary adjustment to the extent that an item has been deferred by Seller to a time extending beyond the Effective Time and Buyer has paid the item. Any items which would appropriately be subject to proration but which cannot be prorated by the Settlement Date 4 will be prorated as soon as the requisite information is available and will be paid promptly by the appropriate party after this time. Seller will deliver to Buyer on or before the Settlement Date updated supporting information regarding the items which will be prorated as of the Effective Time.
Prorated Items. Except as otherwise provided for in this Agreement, all income and expense associated with the operation of the Business (including taxes, governmental assessments, utilities, and similar items that are customarily prorated among buyers and sellers), including rents prepaid by Seller under any lease, will be apportioned among the Parties as of the Closing Date, it being the Parties’ intent that the operation of the Business and the income and expenses attributable thereto up to (but not including) the Closing Date will be for the account of Seller and from and after the Closing Date will be for the account of Buyer. After the Closing, upon the reasonable request of either Party following the discovery of any errors, inaccuracies, or omissions in the prorations made at the Closing, such prorations will be “trued up” and corrected and the Parties will promptly make such payments to one another as are necessary to effectuate the intended Closing prorations described in this Section. Notwithstanding the foregoing, nothing in this Section will be deemed an assumption by Buyer of, or to impose any obligation on Buyer for, any liabilities, obligations, or expenses associated with the Business other than the Assumed Contracts.
Prorated Items. The following items will be apportioned between the Lender and the Borrower as of 11:59 pm on February 28, 2001, based upon the period(s) for which the item is allocable, regardless of when actually paid or payable:
Prorated Items. As of the Close of Escrow, Escrow Holder shall prorate the following items on the basis of the actual number of days of the month which have elapsed as of the Closing Date and based upon a three hundred sixty-five (365)-day year:
