Common use of Other Operating Expenses Clause in Contracts

Other Operating Expenses. All other operating expenses of the Property, including payments due or owing under any Contracts in effect at Closing and any fees as to which periodic payments are made for applicable licenses and permits, if any, shall be prorated as of the Closing Proration Time, except that no premiums for insurance policies paid as of the Closing Date shall be prorated, and Existing Members shall be entitled to any refunds of any such premiums for such policies. Existing Members shall receive a credit for all Contract deposits or other security, if any, at Closing.

Other Operating Expenses. All other operating expenses of the Property, including payments due or owing under any Contracts in effect assumed by Buyer at Closing Closing, and any fees as to which periodic payments are made for applicable licenses and permits, if any, shall be prorated as of the Closing Proration Time, except that no premiums for insurance policies paid shall be assumed as of the Closing Date Contracts and no insurance premiums shall be prorated, and Existing Members Seller shall be entitled to any refunds of any such premiums for such policies. Existing Members shall receive a credit for all Contract deposits or other security, if any, at Closing.