Common use of Re-Adjustment Clause in Contracts

Re-Adjustment. In the event any prorations or apportionments made under this Article X shall prove to be incorrect for any reason, then any party shall be entitled to an adjustment to correct the same. Any item that cannot be finally prorated because of the unavailability of information shall be tentatively prorated on the basis of the best data then available and reprorated when the information is available. Notwithstanding anything to the contrary set forth herein, all reprorations contemplated by this Agreement shall be completed within one (1) year after Closing (subject to extension solely as necessary due to the unavailability of final information but in no event to exceed two (2) years after Closing). The obligations of Seller and Buyer under this Article X shall survive the Closing for two (2) years.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale (FRP Holdings, Inc.), Agreement of Purchase and Sale (Industrial Logistics Properties Trust)

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Re-Adjustment. In the event any prorations or apportionments made under this Article X XI shall prove to be incorrect for any reason, then any party shall be entitled to an adjustment to correct the same. Any item that cannot be finally prorated because of the unavailability of information shall be tentatively prorated on the basis of the best data then available and reprorated when the information is available. Notwithstanding anything to the contrary set forth herein, all reprorations contemplated by this Agreement shall be completed within one nine (19) year months after Closing (subject to extension solely as necessary due to the unavailability of final information but in no event to exceed two one (21) years year after Closing). The obligations of Seller and Buyer under this Article X XI shall survive the Closing for two (2) years.

Appears in 1 contract

Samples: Membership Purchase Agreement

Re-Adjustment. In the event any prorations or apportionments made under this Article X shall prove to be incorrect for any reason, then any party shall be entitled to an adjustment to correct the same. Any item that cannot be finally prorated because of the unavailability of information shall be tentatively prorated on the basis of the best data then available and reprorated when the information is available. Notwithstanding anything to the contrary set forth herein, all reprorations contemplated by this Agreement shall be completed within one (1) year after Closing (subject to extension solely as necessary due to the unavailability of final information but in no event to exceed two (2) years after Closing). The obligations of Seller Sellers and Buyer under this Article X shall survive the Closing for two (2) years.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Douglas Emmett Inc)

Re-Adjustment. In the event any prorations or apportionments made under this Article X IX shall prove to be incorrect for any reason, then any party shall be entitled to an adjustment to correct the same. Any item that cannot be finally prorated because of the unavailability of information information, shall be tentatively prorated on the basis of the best data then available and reprorated when the information is available. Notwithstanding anything to the contrary set forth herein, all reprorations contemplated by this Agreement shall be completed within one (1) year after Closing (subject to extension solely as necessary due to the unavailability of final information but in no event to exceed two (2) years after Closing). The obligations of Seller and Buyer under this Article X IX shall survive the Closing for two (2) years.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (La Quinta Holdings Inc.)

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Re-Adjustment. In the event any prorations or apportionments made under this Article X shall prove to be incorrect for any reason, then any party shall be entitled to an adjustment to correct the same. Any item that cannot be finally prorated because of the unavailability of information shall be tentatively prorated on the basis of the best data then available and reprorated re-prorated when the information is available. Notwithstanding anything to the contrary set forth herein, all reprorations re-prorations contemplated by this Agreement shall be completed within one (1) year after the Closing (subject to extension solely as necessary due to the unavailability of final information information, but in no event to exceed two (2) years after Closing). The obligations of Seller and Buyer under this Article X shall survive the Closing for two (2) years.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (American Realty Capital New York City REIT, Inc.)

Re-Adjustment. In the event any prorations or apportionments made under this Article X shall prove to be incorrect for any reason, then any party shall be entitled to an adjustment to correct the same. Any item that cannot be finally prorated because of the unavailability of information shall be tentatively prorated on the basis of the best data then available and reprorated when the information is available. Notwithstanding anything to the contrary set forth herein, all reprorations contemplated by this Agreement shall be completed within one three (13) year months after Closing (subject to extension solely as necessary due to the unavailability of final information but in no event to exceed two six (26) years months after Closing). The obligations of Seller and Buyer under this Article X shall survive the Closing for two six (26) yearsmonths.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Resource Real Estate Opportunity REIT II, Inc.)

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