Proration Date definition

Proration Date shall have the meaning given to such term in Section 11.2(a) hereof.

Proration Date means the Closing Date.

Proration Date means the specific date set for Closing in Section 3 or any subsequent date set for Closing, provided that the actual date of Closing occurs within five (5) business days after said date set for Closing.

Examples of Proration Date in a sentence

• To the extent there are any Revenues owing to Seller as of the Closing which relate to periods of time prior to the Proration Date, but which have not actually been collected by Seller as of the Closing (“Delinquent Revenues”), Buyer shall not be obligated to pay to Seller (or give Seller a credit for), the amount of such Delinquent Revenues on the Closing.

• All Operating Expenses accruing under, arising out of or relating to any of the Assumed Contracts shall be prorated between Seller and Buyer at the Closing as of the Proration Date.

• Without limiting the foregoing, in the event any supplemental or special real property taxes or assessments are levied prior to Closing, but are due and payable in one or more installments subsequent to the Closing, such supplemental or special real property taxes or assessments shall be allocated on a pro rata basis over the applicable payment period in question and prorated between Seller and Buyer as of the Proration Date.

• Any percentage rent payable under each Lease for the year in which the Closing occurs shall be prorated between Seller and Buyer as of the Proration Date.

• All such arrearages of Fixed Rent unpaid on the Proration Date will remain the sole and exclusive property of Seller after Closing, provided, however, if, after Closing, Seller shall receive any such delinquent Fixed Rent, Seller will remit to Purchaser that portion of such delinquent Fixed Rent that is attributable to the period after the Proration Date, if any.

More Definitions of Proration Date

Proration Date means November 30, 1999.

Proration Date means 12:01 A.M. on the Closing Date.

Proration Date means the effective date of the prorations provided in Section 4.2 hereof, which is 11:59 p.m. on the eve of the Closing Date.

Proration Date has the meaning set forth in Section 7.1(a).

Proration Date means the day prior to the Closing Date. If the actual amounts to be prorated are not known at Closing, the prorations shall be computed on the basis of the best evidence then available and when actual figures are available a cash settlement shall be made between Seller and Buyer. The provisions of this Paragraph shall survive the Closing.

Proration Date as defined in Section 7.3(b).

Proration Date means the Closing Date with respect to any Owned Real Property, Lease Premises or Sparrow Property that is not a GOB Store and for any GOB Store shall mean the date that is the first day after the end of the GOB Period for such GOB Store. In order to effectuate the foregoing the following shall apply: