Common use of Closing Adjustments Clause in Contracts

Closing Adjustments. (a) The following adjustments shall be made as of 11:59 P.M. of the day before the Closing: (i) Real estate taxes and water charges and sewer rents, unless same are part of common charges, on the basis of the fiscal period for which assessed, except that if there is a water meter with respect to the Unit, apportionment shall be based on the last available actual reading, subject to adjustment after the Closing, promptly after the next reading is available; provided, however, that in the event real estate taxes have not, as of the date of Closing, been separately assessed to the Unit, real estate taxes shall be apportioned on the same basis as provided in the Declaration or By-Laws or, in the absence of such provision, based upon the Unit’s percentage interest in the Common Elements; (ii) Common charges of the Condominium; and (iii) If fuel is separately stored with respect to the Unit only, the value of fuel stored with respect to the Unit at the price then charged by Seller’s supplier (as determined by a letter or certificate to be obtained by Seller from such supplier), including any sales taxes.

Closing Adjustments. (a) The following adjustments shall be made as of 11:59 P.M. of the day before the Closing: (i) Real estate taxes and water charges and sewer rents, unless same are part of common chargesif separately assessed, on the basis of the fiscal period for which assessed, except that if there is a water meter with respect to the Unit, apportionment shall be based on the last available actual reading, subject to adjustment after the Closing, promptly after the next reading is available; provided, however, that in the event real estate taxes have not, as of the date of Closing, been separately assessed to the Unit, real estate taxes shall be apportioned on the same basis as provided in the Declaration or By-Laws or, in the absence of such provision, based upon the Unit’s 's percentage interest in the Common Elements; (ii) Common charges of the Condominium; and (iii) If fuel is separately stored with respect to the Unit only, the value of fuel stored with respect to the Unit at the price then charged by Seller’s 's supplier (as determined by a letter or certificate to be obtained by Seller from such supplier), including any sales taxes.

Closing Adjustments. (a) The following adjustments shall be made as of 11:59 P.M. of the day before the Closing: : (i) Real estate taxes and water charges and sewer rents, unless same are part of common charges, on the basis of the fiscal period for which assessed, except that if there is a water meter with respect to the Unit, apportionment shall be based on the last available actual reading, subject to adjustment after the Closing, promptly after the next reading is available; provided, however, that in the event real estate taxes have not, as of the date of Closing, been separately assessed to the Unit, real estate taxes shall be apportioned on the same basis as provided in the Declaration or By-Laws or, in the absence of such provision, based upon the Unit’s 's percentage interest in the Common Elements; ; (ii) Common charges of the Condominium; and and (iii) If fuel is separately stored with respect to the Unit only, the value of fuel stored with respect to the Unit at the price then charged by Seller’s 's supplier (as determined by a letter or certificate to be obtained by Seller from such supplier), including any sales taxes.