Prorations and Credits. (a) The following items shall be prorated as of 11:59 p.m. of the day immediately preceding the Closing Date. To the extent that the amounts of the items to be prorated are ascertainable as of the Closing Date, they shall be prorated at the Closing. To the extent that the amounts of the items to be prorated are not reasonably ascertainable as of the Closing Date, they shall be adjusted as promptly after the Closing as the amounts thereof are ascertained. Any errors or omissions in computing the prorations at the Closing shall be promptly corrected and this obligation shall survive the Closing hereunder for a period of twelve (12) months from the Closing Date.
Appears in 3 contracts
Samples: Tax Sharing Agreement (Equity Residential Properties Trust), Option Agreement (Wellsford Real Properties Inc), Option Agreement (Wellsford Residential Property Trust)
Prorations and Credits. (a) A. The following items listed below shall be prorated as of 11:59 p.m. of the day immediately preceding the Closing Date. To the extent that the amounts of the items to be prorated are ascertainable as of the Closing Date, they shall be prorated at the Closing. To the extent that the amounts of the items to be prorated are not reasonably ascertainable as of the Closing Datedate of closing, they shall be adjusted as promptly after the Closing as the amounts thereof are ascertained. Any errors or omissions in computing the prorations at the Closing shall be promptly corrected and this obligation shall survive the Closing hereunder for a period of twelve six (126) months from the Closing Date.
Appears in 1 contract
Samples: Agreement of Purchase and Sale (Wellsford Residential Property Trust)
