Rental Income. Rental income from the Property shall be prorated as of 11:59 pm the day prior to the Closing Date. Non-delinquent rents shall be prorated as of 11:59 pm the day prior to the Closing Date. Rents delinquent as of such time, but collected later, shall be prorated as of 11:59 pm the day prior to the Closing Date when collected. Rents collected after the Closing Date from tenants whose rental was delinquent at the Closing Date shall be deemed to apply first to the current rental due at the time of payment and second to rentals which were delinquent at the Closing Date. Rents collected after the Closing Date to which Seller is entitled shall be promptly paid to Seller. For a period of sixty (60) days after the Closing Date, Buyer shall use reasonable efforts to collect all rents which are delinquent as of the Closing Date with no obligation to incur any expenses or commence litigation to collect such rents. Commencing as of sixty one (61) days after the Closing Date, Seller may use reasonable efforts, including litigation, to collect any rents delinquent as of the Closing Date which are still uncollected; provided, however, in exercising its remedies against tenants as outlined in this Section, Seller shall not evict any tenant of the Property or otherwise unreasonably interfere with Buyer’s or Property Owner's operation of the Property. With respect to security deposits, if any, that have not been applied to defaults pursuant to the terms of the Leases, Buyer shall receive credit therefor at Closing. Any leasing commissions with respect to the Leases shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.
Rental Income. (1) The Exchange is not a rental program and therefore Members are not permitted to receive rental income for the use of Keys or Reservations made. Nor can a Member transfer, trade or sell Reservations for value. Receiving rental income, or transferring Keys or Reservations, in circumvention of the terms and conditions of the Club, subjects the Member to forfeiture of Membership, Keys and credits in a Member account. THIRDHOME reserves the right to withhold any and all Exchange Fees paid in connection with any activity deemed to be in circumvention of these terms and conditions.
Rental Income. Subject to the applicable restrictions in the Existing Real Estate Documents as in effect on the date hereof, the Company shall cause each of its Subsidiaries to promptly distribute to the Company all available cash (net of customary reserves) received by the Subsidiaries from rental properties.
Rental Income. All amounts received as rent or other income by either party under a Tower Lease shall be prorated as of the applicable Closing Date hereunder, with Seller being credited for rent or income attributable to the period prior to such Closing Date, and Purchaser being credited for rent or income attributable to the period on or after such Closing Date. If amounts are received by either party that are owed to the other party in accordance with the foregoing, the receiving party shall remit or direct the recipient to remit such amounts promptly to the party to whom such amounts are owed, provided that amounts received which were not specifically designated as applicable to the period prior to such Closing Date shall first belong to Purchaser as current rents due after such Closing Date and thereafter amounts received shall be remitted to Seller in payment of delinquent rent accrued prior to such Closing Date. If amounts which relate to the period after such Closing Date are received by Seller after such Closing Date, Seller shall remit such amounts promptly to Purchaser. Each party hereby expressly agrees to cooperate with the other party, in connection with any future efforts by the other party to collect rents and other income accruing or arising in favor of the party seeking to collect such rents and income, at such party's expense.
Rental Income. Rental income, net of depreciation specific to a member’s property as defined in the Occupancy Agreement (“Member’s Property”) will be allocated to that Member’s capital account and, at the sole discretion of the Board of Managers, distributed to that member at least quarterly. The Company shall record depreciation specific to the Member’s Property on the Company’s tax return and allocate the rental income net of the Member’s Property depreciation solely to that respective Member without affecting the remaining Member’s reportable net income from operations.
Rental Income. All figures quoted are gross amounts before commission, VAT and any other deductions. We recommend that all amounts quoted above be negotiated based on individual applications. We trust our Services will meet with your approval and we look forward to being of assistance. As per the Consumer Protection Act 68 of 2008 and the Rental Housing Act 50 of 1999, please read and sign below: I, hereby declare that I have read and understand and abide by the contents of the above. Signed at on this day of 20 Landlord / For and on behalf of Landlord being duly authorised LANDLORDS DETAILS: LANDLORD'S DOMICILIUM: CO. REG. NO: ID NUMBER: VAT REG. NO: COPY OF BODY CORPORATE RULES SUPPLIED COPY OF INVENTORY SUPPLIED MAY WE EXHIBIT “TO LET” BOARDS? MAY WE SHARE YOUR PROPERTY WITH ASSOCIATE AGENCIES? YES / NO YES / NO YES / NO YES / NO TEL NO: CELL NO: EMAIL: MANAGING AGENT/S: TEL: EMAIL: Bank acct name: Bank: Bank acct no.: 50060035373 Cheque/Savings/Bond: Dated at on this the day of 20 Landlord / For and on behalf of Landlord being duly authorised Acceptance for and on behalf of the Agent The Agent selects Seeff Sea Point Medical Centre, Kloof Road, Sea Point, Cape Town, 8005/ xxxxxxx@xxxxx.xxx as its domicilium address for the service of all letters, notices and processes in connection with this mandate.
Rental Income. Rental income under operating leases is recognized in the statement of profit or loss and other comprehensive income on a straight-line basis over the term of the lease. Lease incentives granted are recognized as an integral part of the total rental income. Contingent rentals are recognized as income in the accounting period in which they are earned.
Rental Income. The Seller must verify the Borrower has a two-year history of managing rental properties and a two-year history of receipt of income from this source. Verification may include a letter from the Borrower’s accountant or a two-year Mortgage history of timely payments for rental properties on the Borrower’s credit report. Stated rental income generated from the Borrower’s second home or 1-unit Primary Residence may not be used to qualify the Borrower.
Rental Income. If the tenant(s) cannot live at the location(s) shown on the If you must remove insured property from your premises to protect it from loss or damage that is covered by this policy, it is insured for 90 days or until your policy term ends – whichever happens first. The amount of insurance will be divided in the proportion that the value of the property removed bears to the value of all property at the time of loss. SPECIAL CONDITIONS 90% Co-insurance Clause - Application to Coverage “A” We will pay for no greater proportion of any loss than the amount insured bears to 90% of the actual cash value of the property. If this policy insures two or more items, this condition shall apply to each item separately.
Rental Income. Unless otherwise agreed in writing by the Lender, Marisana shall, and each Obligor shall procure and ensure that Marisana shall, at all times ensure that all Rental Income in respect of the Property is paid directly by the tenant into Marisana's Control Account.
