Examples of Proration Time in a sentence
At the Close of Escrow, pursuant to the Assignment and Assumption of Tenant Leases, Buyer shall assume all of the obligations of Seller under the Tenant Leases as of the Proration Time, including, without limitation, tenant improvement obligations of landlord thereunder and obligations with respect to Tenant Security Deposits (to the extent received by Buyer or credited to Buyer hereunder).
Seller will be charged and credited for the amounts of all of the Proration Items relating to the period up to and including the Proration Time, and Buyer will be charged and credited for all of the Proration Items relating to the period after the Proration Time.
If any prorations, apportionments or computations made under this Paragraph 11 shall require final adjustment because the information is unavailable at the Proration Time, then the parties shall make the appropriate adjustments promptly when accurate information becomes available and either party hereto shall be entitled to an adjustment to correct the same.
If the actual amounts of the Proration Items are not known as of the Proration Time, the prorations will be made at Closing on the basis of the best evidence then available; thereafter, when actual figures are received (not to exceed 120 days after closing), re-prorations will be made on the basis of the actual figures, and a final cash settlement will be made between Seller and Buyer.
Nothing in this SECTION 6.3.13 or any other provision of this Agreement shall be construed to limit Seller's rights to initiate or prosecute after the Close of Escrow additional proceedings for property tax refunds for taxes relating to any relevant taxable period or periods prior to the taxable period during which the Proration Time occurs.