Delinquent Rents definition

Delinquent Rents shall have the meaning set forth in Section 17.9.

Delinquent Rents means Rents which are due and payable prior to or on the day of the Closing or otherwise relate to pre-Closing periods (including, without limitation, the utility charges) but which have not actually been collected by Seller as of the day of the Closing. Seller's account shall not be credited at the Closing for any Delinquent Rents but Seller shall retain all right, title and interest to any Delinquent Rents and Buyer shall have no rights to any Delinquent Rents except as expressly provided in this Section 6.9.2. Commencing as of sixty one (61) days after the Closing Date with respect to any tenants still in residence at the Property, and commencing as of the Closing Date with respect to any tenants no longer in residence at the Property, Seller shall be entitled to institute legal proceedings and otherwise attempt to collect any Delinquent Rents (but without seeking to evict the tenant or otherwise unreasonably interfering with Buyer’s operation of the Property). Notwithstanding anything to the contrary herein, within ninety (90) days after the Closing Date, all reimbursable utility bills for utility charges incurred by Seller and reimbursable to Seller from the tenants under the Leases for periods prior to Closing (“RUBS”), if received by Buyer, shall be remitted by Buyer to Seller; thereafter, Buyer shall have no obligation to remit RUBS income to Seller. Any leasing commissions with respect to the Leases entered into prior to the Closing Date shall be the sole responsibility of Seller, and shall be paid or discharged fully at or prior to Closing.

Delinquent Rents. As defined in Section 4.2.1 (ii).

Examples of Delinquent Rents in a sentence

• The parties agree that they shall provide a final accounting and reconciliation of all Delinquent Rents within thirty (30) days after Closing.

• All Rent collected by Buyer or Seller from each Tenant from and after Closing will be applied as follows: (i) first, to Delinquent Rent owed for the month in which the Closing Date occurs (the "Closing Month"),(ii) second, to any accrued Rents owing to Buyer, and (iii) third, to Delinquent Rents owing to Seller for periods prior to Closing.

• Lessor agrees to use commercially reasonable efforts to collect Delinquent Rents from each tenant remaining in possession of its space under a Tenant Lease.

• All Rents which are due but uncollected as of the Closing Date (the “Delinquent Rents”) shall not be prorated at Closing, but shall be paid to the party entitled to receive such Delinquent Rents upon receipt of same by either Lessor or Lessee after Closing.

• Buyer shall use reasonable efforts to collect Delinquent Rents owed to Seller in the ordinary course of its business.

More Definitions of Delinquent Rents

Delinquent Rents is defined in Section 8.5(a).

Delinquent Rents means, collectively, any and all amounts due from a tenant under a Lease that (i) are due and owing as of the Closing Date, (ii) have been billed by Seller to such tenant, (iii) relate to periods of time prior to the Closing Date; and (iv) have not actually been collected by Seller as of the Closing.

Delinquent Rents. As defined in Section 4.2.1(ii). Xxxxxxx Money. TEN MILLION AND NO/100 DOLLARS ($10,000,000.00) together with any interest earned thereon.

Delinquent Rents means all rent due and payable as of the Proration Date and applicable, on an accrual basis, to any period of time preceding the Proration Date, including, but not limited to, checks received after the Proration Date, but prior to the Closing Date.

Delinquent Rents has the meaning set forth in Section 8.5(k). "Deposit" has the meaning set forth in Section 2.4.

Delinquent Rents. With respect to Rents that have not been collected by Seller as of the Closing Date and are allocable to Seller's Period (collectively, the "DELINQUENT RENTS"), Buyer shall continue to include in the post-Closing xxxxxxxx to each such Tenant the Delinquent Rent amount and shall, upon collection of same, remit the prorated amount due Seller to Seller but only: (I) after Buyer shall have reimbursed itself for that portion of the attorneys' fees and other costs associated with such collection efforts (to the extent not reimbursed by such Tenant) equal to the proportion of the total monies collected which are attributable to Seller's Period, and then (II) to the extent of the Delinquent Rents then due Seller and (III) after retaining, for Buyer's account, all of such monies as shall be necessary to pay the Rents owing by such Tenant with respect to Buyer's Period. Buyer shall not have the right to attribute any Delinquent Rents received to Rents due more than five (5) business days after receipt of such Delinquent Rents or other amounts not constituting Rents due from Tenant to Buyer. Buyer shall have no obligation to terminate any lease or to file litigation or arbitration in attempting to collect Delinquent Rents.

Delinquent Rents means rents under any of the Leases which remain unpaid after their respective due date.