Pro Ration Date definition
Examples of Pro Ration Date in a sentence
Amounts collected by Seller prior to the date of Closing as rent for each day occurring after the Pro Ration Date and all other prepaid amounts shall be credited to the Buyer at Closing.
Rents and other income and revenue relating to the Property and collected by Seller during the month in which Closing occurs shall be deemed earned ratably on a per diem basis and shall be prorated as of the Pro Ration Date and any excess amount shall be applied to past due amounts, if any.
Any requirement for continued employment with Parent pursuant to the Executive Retention Plan shall be satisfied by Executive’s continued employment with the Company through the Pro Ration Date.
All real estate taxes, charges and assessments affecting the Property (collectively, “Taxes”) shall be prorated on a per diem basis as of the Pro Ration Date, disregarding any discount or penalty and on the basis of the actual fiscal year for which such taxes are assessed, and Buyer shall assume liability for Taxes accruing in the fiscal year in which Closing occurs.
All real estate taxes, charges, and assessments affecting the Property (collectively, “Taxes”) shall be prorated on a per diem basis as of the Pro Ration Date, applying any discount for early payment applicable as of the Pro Ration Date, and on the basis of the actual fiscal year for which such taxes are assessed, and Buyer shall assume liability for payment of Taxes accruing in the year in which Closing occurs.
Executive hereby agrees that, upon the Effective Date he will forfeit any right to payment of amounts under any CPU Award Agreement between Parent and the Executive that Executive would have been entitled to had such CPU Award Agreements not been deemed to mature on the Pro Ration Date, and had payments thereunder not been prorated to reflect such earlier maturity date.
Rents and other income and revenue relating to the Property and collected by Seller for the month in which Closing occurs shall be deemed earned ratably on a per diem basis and shall be prorated as of the Pro Ration Date.
The product of this calculation shall be the “Pro Rata CPU Distribution Payment.” Any requirement for continued employment with Parent pursuant to any such CPU Award Agreement shall be satisfied by Executive’s continued employment with the Company through the Pro Ration Date.
Rents and other recurring income relating to the Property and collected by Seller for the month in which Closing occurs shall be deemed earned ratably on a per diem basis and shall be prorated as of the Pro Ration Date.
Any amount payable under any such CPU Award Agreement shall be calculated as follows: The value of the applicable CPU Award shall be determined as if the CPU Award vested fully on the Pro Ration Date (the “Value”), and the Value shall be multiplied by a fraction, the numerator of which is the actual number of months from commencement of the measuring period under any such CPU Award Agreement until the Pro Ration Date, and the denominator of which is thirty (36).