Proration Method. For purposes of calculating prorations, including the prorations described in the other subsections of this Section 5.6 “Taxes, Prorations and Closing Costs,” Purchaser will be deemed to own the Assets, and, therefore, entitled to the income therefrom and responsible for the expenses thereof as of 10:00:01 a.m. EST on the Closing Date. All prorations will be made on the basis of the actual number of days of the month which will have elapsed as of the Closing Date and based upon a three hundred sixty-five day year. The amount of the prorations will be subject to adjustment in cash after the Closing, as and when complete and accurate information becomes available, and the Parties agree to cooperate and use their good faith efforts to make such adjustments.
Proration Method. Tax bills subject to proration will be deemed paid in advance for the 1-year period beginning on the date those taxes are billed. Seller is responsible for that portion of a prorated tax xxxx allocable to the period from the date of the tax xxxx through the day before the Closing Date. The Purchaser is responsible for the balance of each prorated tax xxxx.
Proration Method. For purposes of calculating prorations, ---------------- Purchaser will be deemed to own the Assets, and, therefore, entitled to the income therefrom and responsible for the expenses thereof, as of 11:59 p.m. local time on the day prior to Closing. All prorations will be made on the basis of the actual number of days of the month that will have elapsed as of the Closing Date and based upon a 365 or 366 day year (as applicable). The amount of the prorations will be subject to adjustment in cash after the Closing, as and when complete and accurate information becomes available, and the Parties agree to cooperate and use their good faith efforts to make such adjustments.
Proration Method. The parties agree that they shall use the Proration Method set forth on Exhibit O attached hereto to determine all prorations and adjustments to be made in connection with the Closing and the transaction contemplated by this Agreement.
Proration Method. Twelve-month, full-time employees will receive a one-half vacation day credit per month for the time they have worked. (not to exceed 5 days per year)
Proration Method. Unless otherwise stated herein, Buyer’s and Seller’s respective proration obligations shall be determined as follows: (i) Seller pays that part of DMNORTH #7708141 v4 those expenses expressly intended to be prorated pursuant to the terms of this Section 8 that have accrued through and including the Closing Date, (ii) Buyer pays that part of expenses expressly intended to be prorated pursuant to the terms of this Section 8 that accrue after the Closing Date, (iii) Seller is entitled to that part of Rents (as defined below) and other income expressly intended to be prorated pursuant to the terms of this Section 8 that has accrued through and including the Closing Date, and (iv) Buyer is entitled to that part of Rents and other income expressly intended to be prorated pursuant to the terms of this Section 8 that accrues after the Closing Date.
Proration Method. Unless otherwise stated herein, Buyer’s and Seller’s respective proration obligations shall be determined as follows: (i) Seller pays that part of expenses that have accrued before the Closing Date, (ii) Buyer pays that part of expenses that accrue on or after the Closing Date, (iii) Seller is entitled to that part of Rents and other income that has accrued before the Closing Date, and (iv) Buyer is entitled to that part of Rents and other income that accrues on or after the Closing Date.
Proration Method. Initially capitalized terms not defined in this Appendix 5.1 shall have the meaning given such terms in the Agreement.
Proration Method. For purposes of calculating prorations, Purchaser will be deemed to own the Purchased Assets, and, therefore, entitled to the income therefrom and responsible for the expenses thereof for the entire day upon which the Closing occurs and thereafter. All prorations will be made on the basis of the actual number of days of the month which will have elapsed as of the day of the Closing and based upon a three hundred sixty-five (365) day year. The amount of the prorations will be subject to adjustment in cash after the Closing, as and when complete and accurate information becomes available, and the Parties agree to cooperate and use their good faith efforts to make such post-closing adjustments. Revenues for the sale of electricity for the month in which the Closing occurs or for any previous period for which Niagara Mohawk or its successors have not yet reported shall be based upon 98.5% of the production shown on the records of the Hydroelectric Plant and shall be subject to a post-closing adjustment up receipt by Purchaser of notification from Niagara Mohawk of actual readings at its connection point.
Proration Method. The parties agree that they shall use the Proration Method set forth on Exhibit L attached hereto to determine all prorations and adjustments to be made in connection with the Closing and the transaction contemplated by this Agreement. At least three Business Days prior to Closing, Seller shall deliver a draft closing statement prepared in accordance with this Section 12 and Exhibit L to Buyer for its review and approval. At Closing, the parties shall execute a mutually acceptable closing statement.
