Prorations provisions typically used in a hotel purchase and sale agreement. These Standard Clauses also address the closing statement and closing costs paid by each party. The prorations include not only customary commercial real estate items, such as real estate taxes, tenant rents, and service contract payments, but also room revenue for the night of closing, deposits, employee compensation and accrued benefits, accounts receivable, and the guest ledger, cash, and hotel inventory. While real estate purchase and sale agreements are generally governed by state law, these jurisdictionally-neutral clauses are useful and relevant in every state. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips for both purchasers and sellers.