CAM Collections definition

CAM Collections means those common area maintenance charges which have been actually received by a Seller from tenants for the calendar year through the month prior to the Statement Date, and which shall be shown on the CAM Proration Statement. All CAM Collections for the month in which the Statement Date occurs shall be prorated as of the Statement Date based on the actual number of days in the month in which the Statement Date occurs.
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CAM Collections means CAM Expenses collected from the Tenants. Buyer and Seller acknowledge that currently Air Tahiti is the only Tenant being charged such expenses. The CAM collections for Air Tahiti shall be prorated as of the Closing Date. On the Close of Escrow, Seller shall provide Buyer, all in electronic form, a tenant worksheet for Air Tahiti including tenant base year calculations with appropriate supporting documentation, all year-to-date tenant ▇▇▇▇▇▇▇▇ and payments for the current year, and original operating expense estimates for the current year with supporting documentation, operating expense gross-up calculations, and a year-to-day general ledger for CAM Expenses the current year (collectively, the “Reconciliation Support”). Upon the Close of Escrow, Seller shall provide Buyer with the Reconciliation Support for the year prior to the calendar year in which the Close of Escrow occurs. Upon Buyer’s written notice to Seller of any claim made by a for an amount due to such tenant with respect to year to date prior to the Closing or prior years, Seller shall be obligated to (i) respond to reasonable requests for information by the tenant, (ii) work directly with the tenant to resolve the claim in a good faith manner, (iii) pay to the applicable tenant any amount which may be due from landlord under such tenant’s lease for Seller’s CAM Period and prior years, and (iv) indemnify, defend and hold Buyer harmless from and against any claims, demands, causes of actions, costs and expenses, including reasonably attorney’s fees and costs arising out of any audit by any tenant at the Property for any period prior to the Closing Date. The provisions of this Section 11(f) shall survive the Close of Escrow.
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Examples of CAM Collections in a sentence

  • All CAM Collections for the month in which the Statement Date occurs shall be prorated as of the Statement Date based on the actual number of days in the month in which the Statement Date occurs.

  • If the CAM Expenses incurred for the current year are greater than the CAM Collections for the current year, then Sellers shall receive a credit for the difference.

  • If the CAM Expenses incurred for the current year are less than the CAM Collections for the current year, then Buyer shall receive a credit for the difference.

  • The final prorations shall be determined within ninety (90) days after the Close of Escrow (or within ninety (90) days after the calendar year 2014 for CAM Collections and CAM Expenses) and this Section 3.13.6 shall survive the Close of Escrow until the later of the date (a) such prorations are finally determined, and (b) that all settlement payments consistent with such final prorations are made between the parties hereto.

  • Except as provided in Section 3.13.6, the proration of CAM Expenses and CAM Collections shall not be subject to adjustment after the Close of Escrow.

  • If the CAM Expenses incurred for the current year are less than the CAM Collections for the current year, Buyer shall receive a credit for the difference.

  • If the CAM Expenses incurred for the current year are greater than the CAM Collections for the current year, the Seller shall receive a credit for the difference.

  • All CAM Collections actually received by Seller from tenants for the calendar year through the month prior to the Statement Date shall be shown on the CAM Proration Statement.

  • At least two (2) business days prior to the Close of Escrow or such other date as the parties may agree, Seller shall provide a statement (the “CAM Proration Statement”) of CAM Expenses incurred for the current year and CAM Collections from tenants for the current year.

  • Except as provided in Section 3.13.6 the proration of CAM Expenses and CAM Collections shall not be subject to adjustment after the Close of Escrow.