Proration of Expenses. The following items of expense with respect to any portion or aspect of the Hotel shall be prorated between Seller and Buyer as of the Closing Date:
Proration of Expenses. The parties further agree that the following obligations shall be prorated as follows:
Proration of Expenses. (a) Except as otherwise specifically provided in this Agreement, it is the intention of the parties hereto that Seller shall operate for its own account the Acquired Business until the effective time of Closing and that Purchaser shall operate for its own account the Acquired Business, after the effective time of Closing. Thus, except as otherwise specifically provided in this Agreement, with respect to the Purchased Assets and Assumed Liabilities, items of expense, including without limitation non-owner occupation fees, payments of amounts due under service contracts, payments of rent, taxes, utilities and other amounts required to be paid by the tenant under leases, and all personal property taxes applicable to the personal property to be transferred hereunder, shall be prorated to the effective time of Closing. On or before the Closing Date, an estimated settlement or settlements of all such prorated items shall be made, which estimated settlement shall include reimbursement to Seller for any security deposits theretofore made pursuant to any lease which is assigned or is to be assigned hereunder, as well as any security deposits made or to be made by Seller in respect of other Purchased Assets or Assumed Liabilities, all of which security deposits shall be held, on and after the Closing Date, for the benefit of Purchaser. Such estimate shall include all computations made by Seller in determining such amounts, and all information used by Seller in connection with such computation. If, after reviewing the computations and such information, Purchaser believes that any amount set forth therein was calculated incorrectly, Purchaser shall so notify Seller and Purchaser and Seller shall cooperate in good faith to determine an agreed upon amount. As soon as practicable after the Closing Date (but not later than 75 days thereafter, except as provided in Section 2.4(b)), the parties shall make a final settlement as to the items to be prorated under this Section 2.4. (bi Any dispute which may arise between Seller and Purchaser as to the calculation of any part of the proration shall be resolved by negotiations between Seller and Purchaser. If thirty (30) days after the Closing Date, the disputed issues have not been resolved, such unresolved issues shall be referred by the party disputing the item in question to a "Big Six" accounting firm (the "Arbitrator") that does not represent any of the parties hereto in any material capacity, which shall act as arbitrator ...
Proration of Expenses. Except as otherwise expressly provided in this Agreement, all expenses associated with the Assets being conveyed to Buyer, including, but not limited to, taxes, rent, insurance premiums, and utility charges, shall be apportioned ratably between the parties as of the Closing Date on the basis of a 30-day month. This obligation to make apportionments shall survive the Closing.
Proration of Expenses. Seller and Buyer agree that in connection with entering into the New Lease at Closing, there shall be no proration of utility charges or other expenses, whether accruing or payable prior to or after the Closing Date, and that all such utility charges, rent and other expenses concerning the Property shall be borne by Tenant, as tenant under the New Lease.
Proration of Expenses. All accrued expenses associated with the Leased Real Estate included in the Purchased Assets, such as rents and other charges under the Lease Agreement, electricity, gas, water, sewer, telephone, property taxes, security services and similar items, shall be prorated between Buyer and Seller as of the Closing Date. Buyer and Seller shall settle such amounts within 30 days after Closing.
Proration of Expenses. All revenues and expenses arising from the conduct of the business and operation of the Station, including expenses under the Assumed Contracts, and similar prepaid and deferred items, shall be prorated between Buyer and Seller as of the Effective Time. Such prorations shall be based upon the principle that Seller shall be responsible for all liabilities and obligations incurred or accruing in connection with the operation of the Station until the Effective Time, and Buyer shall be responsible for such liabilities and obligations incurred by Buyer thereafter. Such prorations shall include, without limitation, all ad valorem, real estate and other property taxes, business and license fees, FCC regulatory fees, utility expenses, liabilities and obligations under the Assumed Contracts, rents and similar prepaid and deferred items, except taxes arising by reason of the transfer of the Station Assets as contemplated hereby, which shall be paid in accordance with Section 14.2. To the extent not known, real estate taxes shall be apportioned on the basis of taxes assessed for the preceding year, with a reapportionment as soon as the new tax rate and valuation can be ascertained. Notwithstanding the foregoing, there shall be no adjustment for, and Seller shall remain solely liable with respect to any obligations or liabilities not being assumed by Buyer in accordance with Article 3 hereof.
Proration of Expenses. 25 8.3. BULK SALES...........................................................25 8.4.
Proration of Expenses. All accrued expenses associated with the Real Property included in the Purchased Assets, such as electricity, gas, water, sewer, telephone, property Taxes, security services and similar items, shall be prorated between Buyer and Seller as of the Closing Date (in accordance with local custom, in the case of real property taxes). Buyer and Seller shall settle such amounts on the Closing Date.
Proration of Expenses. All accrued expenses associated with the Real Property included in the Assets, such as electricity, gas, water, sewer, telephone, property Taxes, security services and similar items, shall be prorated between Buyer and Seller as of the Closing Date (in accordance with local custom, in the case of real property taxes). Buyer and Seller shall settle such amounts within 60 days after Closing.
