Common use of Proration of Taxes and Certain Charges Clause in Contracts

Proration of Taxes and Certain Charges. (a) Except as provided in Section 5.11, all Property Taxes levied with respect to the REO Property for any taxable period that includes the day before the date of the Closing Date and end after the date of the Closing Date, whether imposed or assessed before or after the Closing Date, shall be prorated between the Seller, on the one hand, and the Purchaser, on the other hand, as of 11:59 P.M. on the Closing Date. If any Taxes subject to proration are paid by the Purchaser, on the one hand, or the Seller, on the other hand, the proportionate amount of such Taxes paid (or in the event a refund of any portion of such Taxes previously paid is received, such refund) shall be paid promptly by (or to) the other after the payment of such Taxes (or promptly following the receipt of any such refund).

Proration of Taxes and Certain Charges. (a) Except as provided in Section 5.11this section, all Property personal property Taxes or similar ad valorem obligations levied with respect to the REO Property Purchased Assets for any taxable period that includes the day before the date of the Closing Date and end ends after the date of the Closing DateClosing, whether imposed or assessed before or after the Closing Datedate of the Closing, shall be prorated between the Seller, Sellers and the Purchaser as of 12:01 A.M. on the one hand, and date of the Purchaser, on the other hand, as of 11:59 P.M. on the Closing DateClosing. If any Taxes subject to proration are paid by the Purchaser, on the one hand, or the SellerSellers, on the other hand, the proportionate amount of such Taxes paid (or in the event a refund of any portion of such Taxes previously paid is received, such refund) shall be paid promptly by (or to) the other after the payment of such Taxes (or promptly following the receipt of any such refund).

Proration of Taxes and Certain Charges. (a) Except as provided in Section 5.115.13, all Property Taxes real property Taxes, personal property Taxes, or similar ad valorem obligations levied with respect to the REO Property Purchased Assets for any taxable period that includes the day before the date of the Closing Date and end ends after the date of the Closing DateClosing, whether imposed or assessed before or after the Closing Datedate of the Closing, shall be prorated between the Seller, Seller and Purchaser as of 12:01 A.M. (Mountain) on the one hand, and date of the Purchaser, on the other hand, as of 11:59 P.M. on the Closing DateClosing. If any Taxes subject to proration are paid by the Purchaser, on the one hand, or the Seller, on the other hand, the proportionate amount of such Taxes paid (or in the event a refund of any portion of such Taxes previously paid is received, such refund) shall be paid promptly by (or to) the other after the payment of such Taxes (or promptly following the receipt of any such refund).