Rent Ready Condition. If any apartment unit is vacated seven days or more prior to Closing, then, prior to Closing, Seller shall use commercially reasonable diligence to return such unit to rentable condition in accordance with Seller’s customary cleaning, painting, and repair standards for vacant units (the condition of such an apartment unit after cleaning is referred to herein as a “Rent Ready Condition”). To the extent any such units are not in a Rent Ready Condition by Closing, the Purchase Price shall be credited in an amount equal to $500 for each unit that is not in a Rent Ready Condition.
Rent Ready Condition. Owner agrees to do the following upon vacating the property:
Rent Ready Condition. For any apartment unit that is vacated on or before the date that is seven (7) days prior to the Closing Date and is not in Rent Ready Condition by the Closing Date, Seller shall credit Buyer $750.00 for the cost and expenses to put such unit in Rent Ready Condition. As used herein, “Rent Ready Condition” shall mean the condition in which Seller currently delivers vacant units to new tenants at the Property, freshly painted and cleaned, with all appliances, fixtures, and equipment therein in good working order.
Rent Ready Condition. Seller shall place apartment units within the apartment project on the Apartment Land that are now vacant or that become vacant for more than seven (7) days prior to Closing into rent-ready condition on or before the Closing Date in accordance with Seller’s current management standards for its apartment properties as though no sale of the Property were contemplated; provided, however, with respect to those apartment units vacated during the seven (7) day period ending on the Closing Date, Seller shall either (i) place each such unit in rent ready condition or (ii) provide Purchaser at Closing with the credit described in the immediately following sentence. With respect to any vacant apartment units not in “rent-ready” condition on the Closing Date, Seller shall provide Purchaser, as part of the prorations set forth in Section 4(e) above, with a credit at Closing of Five Hundred and No/100 Dollars ($500.00) for each such apartment unit which is not in “rent-ready” condition on the Closing Date. For purposes hereof, “rent-ready” condition shall mean those rental units at the Property which are unoccupied but are in fact fully equipped (including all appliances) and ready for immediate occupancy as reasonably determined in accordance with Seller’s or its property manager’s current business practices. In the event any errors in the amount of such credit are discovered following Closing, the parties shall make any refunds, credits or other payments necessary to correct such errors in accordance with the terms of, and within the time period set forth in, Section 4(e)(vi) above, which obligation shall survive Closing. For the avoidance of doubt, in no event shall Seller be obligated to place any apartment units in rent ready condition following the Closing Date.
Rent Ready Condition. Seller agrees that (a) the vacant Tenant Units will be in Rent-Ready Condition five (5) business days before the Closing Date, or (b) Purchaser shall receive a credit against the Purchase Price in an amount equal to the product of (i) the number of Tenant Units that are vacant and not in Rent-Ready Condition five (5) business days prior to the Closing Date, if any, and (ii) $750.00.
Rent Ready Condition. No later than four (4) Business Days prior to the Closing, Purchaser and Seller shall agree on the number of Tenant units at the Property that are vacant and not in Rent Ready Condition. If, on the Closing Date, any such vacant Tenant units are still not in Rent Ready Condition, then Purchaser shall receive a credit against the Purchase Price in an amount equal to the product of (i) the number of such vacant Tenant units, and (ii) $750.00. For purposes hereof, “
Rent Ready Condition. If any apartment unit is vacated seven days or more prior to Closing, then, prior to Closing, Seller shall use commercially reasonable diligence to return such unit to rentable condition in accordance with Seller’s customary cleaning, painting, and repair standards for vacant units (the condition of such an apartment unit after cleaning is referred to herein as a “Rent Ready Condition”). To the extent any such units are not in a Rent Ready Condition, the Purchase Price shall be credited in an amount equal to $500 for each unit that is not in a Rent Ready Condition. Notwithstanding the foregoing, no adjustment shall be due for any unit because of the incomplete Finish Work.
Rent Ready Condition. Seller shall continue to "make ready" all Vacant Units (defined herein) in accordance with Seller’s current procedures and practices and shall deliver any Vacant Units in Rent Ready Condition (as defined below) at Closing. If any Vacant Units are not in Rent Ready Condition as of the Closing, Seller shall credit the Purchaser the Rent Ready Credit (as defined below) at Closing. Purchaser shall be permitted to inspect all Vacant Units at least three (3) days but not more than five (5) days prior to the Closing Date to verify the Rent Ready Condition thereof. As used in this Section 6.4, the term (i) "Rent Ready Condition" shall Exhibit M, List of Existing Loan Documents M-22
Rent Ready Condition. For any apartment unit that is vacated on or before the date that is five (5) Business Days prior to Closing that is not in Rent Ready Condition as of the date of Closing, Seller shall credit Buyer $800 for the cost and expenses to put the unit in Rent Ready Condition. “Rent Ready Condition” shall mean an apartment unit within the Property having cleaned carpets, newly painted walls, working kitchen appliances (and water heaters and HVAC), and no material damage to the doors, walls, ceilings, fixtures, floors or windows, such that the apartment unit is in a condition (consistent with the standards of similar units in the Property) for immediate rental and occupancy.
Rent Ready Condition. Seller shall cause any unit in the Property which becomes vacant six (6) (or more) days prior to Closing and which remains vacant as of the Closing Date to satisfy the following requirements: (i) be clean; (ii) have been repainted since the date that the prior tenant vacated; (iii) have appliances in good working order; (iv) have carpeting replaced or cleaned, if appropriate; and (v) otherwise to be in "rent-ready" condition. Purchaser shall be entitled to a credit at Closing in the amount of $750 for each such vacant unit that does not satisfy the foregoing requirements.
