Common use of Service Contracts and Equipment Leases Clause in Contracts

Service Contracts and Equipment Leases. Any amounts prepaid -------------------------------------- or payable under any Service Contracts or Equipment Leases which the Operating Partnership has elected to assume shall be prorated at the date of the Final Closing as of the date of the Final Closing with the Asset Entity obligated for all sums accrued prior to the Adjustment Time and the Operating Partnership obligated for all sums accrued after the Adjustment Time.

Appears in 4 contracts

Samples: Contribution Agreement (Lasalle Hotel Properties), Contribution Agreement (Lasalle Hotel Properties), Contribution Agreement (Lasalle Hotel Properties)

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Service Contracts and Equipment Leases. Any amounts prepaid -------------------------------------- or payable under any Service Contracts or Equipment Leases or any other agreements which the Operating Partnership has elected to assume shall be prorated at the date of the Final Closing as of the date of the Final Closing with the relevant Asset Entity obligated for all sums accrued prior to the Adjustment Time and the Operating Partnership obligated for all sums accrued after the Adjustment Time.

Appears in 3 contracts

Samples: Contribution Agreement (Lasalle Hotel Properties), Contribution Agreement (Lasalle Hotel Properties), Omnibus Contribution Agreement (Lasalle Hotel Properties)

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