Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements and operating expenses and/or taxes payable by tenants under Leases (collectively, “Tenant Receivables”) and not collected by Seller as of Closing shall not be prorated between Seller and Purchaser at Closing but shall be apportioned on the basis of the period for which the same is payable and if, as and when collected, as follows:
Tenant Receivables. Rents due from Tenants under the Leases (including operating expense and real estate tax contributions or reimbursements and similar charges (collectively, “Pass-Through Expenses”)), set-offs due or required to be paid under or by reason of the Leases (collectively called “Tenant Receivables”) shall be adjusted by appropriate credit to the Seller or Buyer (as the case may be) on the Closing Date. If, at the Closing Date, any Tenant is in arrears in the payment of rents (“Uncollected Delinquent Tenant Receivables”), Seller will disclose the same to Buyer in writing or on the rent roll to be delivered to Buyer pursuant to Section 10 hereof and such amounts shall not be adjusted on the Closing Date. Prior to the Closing Date, Seller shall use Seller’s current business practices to collect Uncollected Delinquent Tenant Receivables. If Buyer shall collect Uncollected Delinquent Tenant Receivables within ninety (90) days after the Closing Date, then Buyer shall turn over to Seller the arrearages so collected, less the reasonable cost of collection thereof, if any; provided, however, Seller may continue to seek to collect the Uncollected Delinquent Tenant Receivables by legal action following the Closing Date. All rents collected by Buyer after the Closing Date (except for amounts specifically billed and paid as end of year reconciliation payments for Pass-Through Expenses, which shall be separately accounted for and allocated, pro rata, between Seller and Buyer as their interest may appear) shall be first applied to rents due and payable after the Closing Date and only the excess thereof shall be paid over to Seller on account of the Uncollected Delinquent Tenant Receivables. Seller shall prepare the reconciliation for Pass-Through Expenses for the Property and provide such reconciliation to Buyer and Buyer’s property manager. Buyer agrees to cause its property manager to cooperate with Seller in preparing such reconciliation. To the extent that items to be apportioned hereunder may be required to be paid directly by a Tenant under its Lease, the same shall not be apportioned, provided, however, that such items shall have been paid by such Tenant currently through the month including the Closing Date. The provisions of this subparagraph 4(d) shall survive Closing and the delivery of the Deed (hereinafter defined), and shall survive the expiration or earlier termination of this Agreement. Seller expressly agrees that if Seller receives any amounts after the Closi...
Tenant Receivables. Rents due from tenants under Leases and operating expenses and/or taxes payable by tenants under Leases (collectively, "Tenant Receivables") shall be apportioned on the basis of the period for which the same is payable and if, as and when collected, as follows:
Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements (collectively, “Tenant Receivables”) and not collected by Seller as of Closing shall prorated as follows: Tenant Receivables that are from 0-30 days past due as of the Closing Date will be credited to Seller at Closing and all other Tenant Receivables that are 31 or more days past due at Closing are assigned and apportioned to Purchaser (without proration at Closing).
Tenant Receivables. Tenant Receivables and other income from the Property not collected by Seller as of Closing shall not be prorated between Seller and Purchaser at Closing but shall be apportioned after Closing on the basis of the period for which same are applicable, as follows: All Tenant Receivables and other income collected after Closing shall be allocated (i) first, to Tenant Receivables and/or other income due for the month during which the Closing occurs (and shall be allocated between Seller and Purchaser as if same had been prorated at Closing), (ii) second, to Tenant Receivables and/or other income due for other periods of time after Closing, and (iii) finally, to Tenant Receivables and/or other income due for any periods of time before Closing. In the event Purchaser receives Tenant Receivables or other income after Closing to which Seller is entitled as provided above, Purchaser agrees to hold said funds in trust for Seller and to promptly remit said funds to Seller. Seller shall have the right to pursue the collection of delinquent Tenant Receivables and other delinquent income from the Property for a period of one (1) year after Closing without prejudice to Seller's rights or Purchaser's obligations hereunder; provided that Seller may not bring eviction proceedings in the pursuit of such collection. In the event Seller receives Tenant Receivables or other income after Closing to which Purchaser is entitled as provided above, Seller agrees to hold such funds in trust for Purchaser and to promptly remit said funds to Purchaser. The provisions of this Subsection 8.1.3 shall survive the Closing.
Tenant Receivables. Rents due from tenants under Leases and from tenants or licensees under License Agreements and Operating Expenses and Taxes payable by tenants under Leases and licenses under License Agreements (collectively, “Tenant Receivables”) and not collected by AFE, PXR, PXURA or PXLA as of Closing shall not be prorated between Seller and Purchaser at Closing but shall be apportioned on the basis of the period for which the same is payable and if, as and when collected, as follows:
Tenant Receivables. Rents due from tenants under Leases, license fees and payments due from licensees under the License Agreements, and operating expenses and/or taxes payable by tenants under Leases and licensees under the License Agreements (collectively, “Tenant Receivables”) shall be apportioned on the basis of the period for which the same is payable and if, as and when collected, as follows:
Tenant Receivables. Rent received by Seller prior to the Closing Date, including any amounts payable for operating expenses and taxes, that applies to the period of time after the Closing Date shall be paid to Buyer at the Close of Escrow. Rent due from Tenant under the Lease and operating expenses, taxes and/or other amounts payable by Tenant under the Lease but not yet received as of the Closing Date (collectively, “Tenant Receivables”) shall not be prorated at the Close of Escrow, but shall be apportioned on the basis of the period for which the same is payable and if, as and when collected, as follows:
Tenant Receivables. 3.4.1 To the extent that the Seller receives rent or other similar payments under the Leases, after the Closing Date, the same shall be held in trust and dealt with pursuant to Section 3.4.2 below, as if the Buyer received them.
Tenant Receivables. Rent under the Lease does not commence until April 1, 2005 - subsequent to Closing. Accordingly, no provision is made herein for adjustment of rents.
