Uncollected Rents Sample Clauses

Uncollected Rents. All rentals and other charges payable in arrears and uncollected and all other uncollected rents (including common area maintenance charges, charges for services provided by Seller as lessor under the Leases payable by the tenants thereunder, and adjustments and reconciliations thereto) for the current and prior rental periods, less the reasonable third party out-of-pocket expenses of collection thereof, will be apportioned (if and when collected by either party), but shall not be adjusted at Closing. As to any tenants that are delinquent in the payment of rent on the Closing Date, Buyer shall use reasonable efforts (but shall not be required to commence legal action) to collect or cause to be collected such delinquent rents following the Closing Date. Any and all rents so collected by Buyer following the Closing (less a deduction for all reasonable collection costs and expenses incurred by Buyer) will be successively applied (x) one-half to the rent then due and payable and (y) one-half to such unpaid rent in order of decreasing delinquency. Any rent payment made by a tenant that is identified or designated by such tenant as payment of any Nashua-Equity P&S Page 10 of 55 November 6, 2006 delinquent rent shall be applied to such delinquent rent. If all or part of any rents or other charges received by Buyer following the Closing are allocable to Seller pursuant to the foregoing sentence, then such sums will be promptly paid to Seller. Seller reserves the right to collect delinquent rents owed to Seller and to pursue any damages remedy Seller may have against any tenant with respect to such delinquent rents, but will have no right to exercise any other remedy under any Lease (including, without limitation, termination or eviction).
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Uncollected Rents. All rents which are collected by the date of the Closing shall be adjusted at the Closing. Any rents collected after the Closing by either party shall be adjusted when collected. Any rents received after the Closing shall be applied as follows: (a) first, to the month of Closing; (b) then, to current rent; and (c) then to any arrearages. Purchaser’s and Seller’s obligations hereunder shall survive the Closing.
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Uncollected Rents. All rentals and other charges payable in arrears and uncollected and all other uncollected rents (including common area maintenance charges, annual adjustments thereto and annual tenant reconciliations) for the current and prior rental periods, less the reasonable third party out-of-pocket expenses of collection thereof, shall be apportioned (if and when collected by either party), but shall not be adjusted at Closing. As to any tenants that are delinquent in the payment of rent on the Closing Date, Buyer shall use reasonable efforts (but shall not be required to commence legal action) to collect or cause to be collected such delinquent rents following the Closing Date. Any and all rents so collected by Buyer following the Closing (less a deduction for all reasonable collection costs and expenses incurred by Buyer) will be successively applied to the payment of (x) rent due and payable in the month in which the Closing occurs, (y) rent due and payable in the months following the month in which the Closing occurs but prior to the month in which payment is made; and (z) rent due and payable in the months preceding the month in which the Closing occurs (up to and including the month in which payment is made). Notwithstanding the foregoing, any rent payment made by a tenant that is identified or designated by such tenant as payment of any delinquent rent shall be applied to such delinquent rent. If all or part of any rents or other charges received by Buyer following the Closing is allocable to Seller pursuant to the foregoing sentence, then such sums shall be promptly paid to Seller. Seller reserves the right to collect delinquent rents owed to Seller and to pursue any damages remedy Seller may have against any tenant with respect to such delinquent rents, but shall have no right to exercise any other remedy under the Lease (including, without limitation, termination or eviction).
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Uncollected Rents. Except as set forth in the preceding paragraph, Uncollected rent and other uncollected income shall not be prorated at Closing, but all rent that is due but unpaid for the period prior to and including the Closing Date shall be accounts receivable retained by Seller. After Closing, Purchaser shall apply all rent and income collected by Purchaser from a tenant, unless the tenant properly identifies the payment as being for a specific item other than rent, first to such tenant's rental obligations for the period after Closing and then to arrearages for periods prior to the Closing. Purchaser shall promptly remit such amounts, holding same in trust and promptly remitting to Seller, after deducting a prorated share of any reasonable collection costs actually paid by Purchaser to third parties, any rent properly allocable to Seller's period of ownership. Purchaser shall xxxx and attempt to collect such rent arrearages of tenants in possession in the ordinary course of business, but shall not be obligated to engage a collection agency or take legal action to collect any rent arrearages. After Closing, Seller shall not have the right to seek collection directly from any tenant in possession of any rents or other income allocable to any period before or including the Closing by judicial action nor shall it have any right to evict any such tenants, terminate their leases or disturb their possession. Any rent or other income received by Seller after Closing which is owed to Purchaser shall be held in trust, and remitted to Purchaser promptly after receipt.
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Uncollected Rents. 0 "Xxxxx Xxxxx X" ....................................................... 8 "Windy Point II" ...................................................... 8 Section 1.2
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Uncollected Rents. 10 3.9 Estimates..................................................... 11 3.10
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Uncollected Rents. (i) Any amounts characterized as rents or additional rents under the Leases, including any charges or fees charged to tenants, that have accrued but remain uncollected by Seller as of the Closing Date (the “Uncollected Rents”) shall not be prorated. For a period of twelve (12) months following the Closing Date, Buyer agrees to bill tenants of the Property for the Uncollected Rents and the Uncollected Utilities (collectively, the “Uncollected Receivablxx”) and to take any additional actions reasonably requested by Seller to collect the Uncollected Receivables, but Buyer shall not be obligated to (i) incur any out‑of‑pocket third party expense in connection with such actions (unless Seller has agreed to reimburse the same), or (ii) take any action to terminate a tenancy.
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Related to Uncollected Rents

  • Loan Charges Neither this Note nor any of the other Loan Documents shall be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate greater than the Maximum Interest Rate. If any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower in connection with the Loan is interpreted so that any interest or other charge provided for in any Loan Document, whether considered separately or together with other charges provided for in any other Loan Document, violates that law, and Xxxxxxxx is entitled to the benefit of that law, that interest or charge is hereby reduced to the extent necessary to eliminate that violation. The amounts, if any, previously paid to Lender in excess of the permitted amounts shall be applied by Lender to reduce the unpaid principal balance of this Note. For the purpose of determining whether any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower has been violated, all Indebtedness that constitutes interest, as well as all other charges made in connection with the Indebtedness that constitute interest, shall be deemed to be allocated and spread ratably over the stated term of this Note. Unless otherwise required by applicable law, such allocation and spreading shall be effected in such a manner that the rate of interest so computed is uniform throughout the stated term of this Note.

  • Bank Charges Borrowers shall pay to Agent, on demand, any and all fees, costs or expenses which Agent or any Lender pays to a bank or other similar institution arising out of or in connection with (i) the forwarding to any Borrower or any other Person on behalf of any Borrower, by Agent or any Lender, of proceeds of Loans made to Borrowers pursuant to this Agreement and (ii) the depositing for collection by Agent or any Lender of any check or item of payment received or delivered to Agent or any Lender on account of the Obligations.

  • Collection of Taxes, Assessments and Similar Items; Servicing Accounts; Reserve Accounts (a) Each Master Servicer shall establish and maintain one or more segregated accounts (“Servicing Accounts”), in which all Escrow Payments received by it with respect to any Serviced Mortgage Loans or Serviced Pari Passu Companion Loan, shall be deposited and retained, separate and apart from its own funds. Subject to any terms of the related Mortgage Loan Documents that specify the nature of the account in which Escrow Payments shall be held, each Servicing Account shall be an Eligible Account. As and to the extent consistent with the Servicing Standard, applicable law and the related Mortgage Loan Documents, the applicable Master Servicer may make withdrawals from the Servicing Accounts maintained by it, and may apply Escrow Payments held therein with respect to any Serviced Mortgage Loan or Serviced Pari Passu Companion Loan (together with interest earned thereon), only as follows: (i) to effect the payment of real estate taxes, assessments, insurance premiums (including, premiums on any Environmental Insurance Policy), ground rents (if applicable) and comparable items in respect of the related Mortgaged Property; (ii) to reimburse the applicable Master Servicer, the applicable Special Servicer or the Trustee, as applicable, for any unreimbursed Servicing Advances made thereby with respect to such Mortgage Loan or Serviced Pari Passu Companion Loan to cover any of the items described in the immediately preceding clause (i); (iii) to refund to the related Borrower any sums as may be determined to be overages; (iv) to pay interest or other income, if required and as described below, to the related Borrower on balances in the Servicing Account (or, if and to the extent not payable to the related Borrower to pay such interest or other income (up to the amount of any Net Investment Earnings in respect of such Servicing Account for each Collection Period) to the applicable Master Servicer); (v) disburse Insurance Proceeds if required to be applied to the repair or restoration of the related Mortgaged Property, (vi) after an event of default, to pay the principal of, accrued interest on and any other amounts payable with respect to such Mortgage Loan or Serviced Pari Passu Companion Loan; (vii) to withdraw amounts deposited in the Servicing Account in error; or (viii) to clear and terminate the Servicing Account at the termination of this Agreement in accordance with Section 9.01. The applicable Master Servicer shall pay or cause to be paid to the related Borrowers interest and other income, if any, earned on the investment of funds in Servicing Accounts maintained thereby, if and to the extent required by law or the terms of the related Mortgage Loan Documents. If a Master Servicer shall deposit in a Servicing Account maintained by it any amount not required to be deposited therein, it may at any time withdraw such amount from such Servicing Account, any provision herein to the contrary notwithstanding. Promptly after any Escrow Payments are received by the applicable Special Servicer from the Borrower under any Serviced Mortgage Loan or Serviced Pari Passu Companion Loan, and in any event within one Business Day after any such receipt, such Special Servicer shall remit such Escrow Payments to the applicable Master Servicer for deposit in the applicable Servicing Account(s).

  • Security Deposits Borrower is in compliance in all material respects with all Legal Requirements relating to security deposits.

  • Monthly Payments On or before each Transfer Date, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit B hereto) to withdraw and the Trustee, acting in accordance with such instructions, shall withdraw on such Transfer Date or the related Distribution Date, as applicable, to the extent of available funds, the amounts required to be withdrawn from the Finance Charge Account, the Principal Account, the Principal Funding Account and the Distribution Account as follows:

  • Rents All fixed and additional rentals under the Space Leases and other tenant charges, in each case as and when actually received, shall be prorated as of the Cut Off Time. Seller shall deliver or provide a credit to Purchaser in an amount equal to all prepaid rents for periods after the Closing Date. Rents which are delinquent as of the Closing Date shall not be prorated on the Closing Date and Seller shall retain the right to pursue the collection of such delinquent rents; provided that in connection with such efforts Seller shall have no right to terminate any Space Lease or to initiate any eviction proceeding against the applicable tenant thereunder. To the extent Purchaser receives rents (including operating expense, tax and insurance charges payable by a Space Lessee) on or after the Closing Date that such Space Lessee designates are payable as delinquent rents for any period prior to the Closing Date, Purchaser shall promptly deliver such amounts to Seller. Purchaser shall use good faith efforts (at no cost to Purchaser) to collect any such delinquent rents. Any percentage rents under Space Leases shall be prorated on the basis of the ratio of the number of days expired before Closing to the number of days after Closing. In the event that the proration of operating expenses, taxes, insurance charges and/or percentage rent cannot be fully prorated because of the unavailability of information then such proration will be tentatively prorated on the best available information and Seller and Purchaser will make the appropriate final adjustments within ninety (90) days following the end of the calendar year in which the Closing occurs. All such adjustments will be paid in cash to the party entitled thereto. All security deposits shall be transferred to Purchaser or credited against the Purchase Price and all obligations with respect to such security deposits shall be assumed by Purchaser.

  • Monthly Base Rent On each Due Date, each Lessee shall pay to the Lessor the Monthly Base Rents that have accrued during the Related Month with respect to all Vehicles that were leased by such Lessee under this Operating Lease on any day during the Related Month;

  • Collection Costs In addition, the Issuer will pay the costs of collection, including all amounts owed to the Indenture Trustee under Section 6.7.

  • Collection of Rents Upon or at any time that an Event of Default exists, Mortgagee may declare all sums secured hereby immediately due and payable, and may, at its option, without notice, and whether or not the Secured Obligations shall have been declared due and payable, either in person or by agent, with or without bringing any action or proceeding, or by a receiver to be appointed by a court, (a) enter upon, take possession of, manage and operate the Property, or any part thereof (including without limitation making necessary repairs, alterations and improvements to the Property); (b) make, cancel, enforce or modify Leases (and any guaranties thereof); (c) obtain and evict tenants; (d) fix or modify Rents; (e) do any acts which Mortgagee deems reasonably proper to protect the security thereof and (f) either with or without taking possession of the Property, in its own name xxx for or otherwise collect and receive such Rents, including those past due and unpaid. In connection with the foregoing, Mortgagee shall be entitled and empowered to employ attorneys, and management, rental and other agents in and about the Property and to effect the matters which Mortgagee is empowered to do, and in the event Mortgagee shall itself effect such matters, Mortgagee shall be entitled to charge and receive reasonable management, rental and other fees therefor as may be customary in the area in which the Property is located; and the reasonable fees, charges, costs and expenses of Mortgagee or such persons shall be additional Secured Obligations. Mortgagee may apply all funds collected as aforesaid, less costs and expenses of operation and collection, including reasonable attorneys’ and agents’ fees, charges, costs and expenses, as aforesaid, upon any Secured Obligations, and in such order as Mortgagee may determine. The entering upon and taking possession of the Property, the collection of such Rents and the application thereof as aforesaid shall not cure or waive any default or waive, modify or affect notice of default under the Note or this Mortgage or invalidate any act done pursuant to such notice.

  • Collections Payment Processing Remittance (a) Collection Efforts, Policies, Procedures.

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