Utilities and Operating Expenses Clause Samples
The Utilities and Operating Expenses clause defines the responsibilities of each party regarding the payment and management of costs associated with utilities and the ongoing operation of a property. Typically, this clause specifies which utilities (such as water, electricity, gas, and internet) and operating expenses (like maintenance, janitorial services, and property management fees) are to be paid by the tenant and which are covered by the landlord. By clearly allocating these financial obligations, the clause helps prevent disputes over unexpected costs and ensures both parties understand their ongoing financial commitments during the lease term.
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Utilities and Operating Expenses. To the extent not billed directly to tenants, or paid as part of Additional Rent (as hereinafter defined) or otherwise by tenants, water, electricity, sewer, gas, telephone and other utility charges based, to the extent practicable, on final meter readings and final invoices. Any operating expenses that are not paid by the tenants as Additional Rent or otherwise shall be prorated between Purchaser and Seller, with Seller receiving a credit for any operating expenses paid by Seller and related to the period from and after Closing.
Utilities and Operating Expenses. Tenant agrees to pay during the term of this Lease: (a) all charges for utilities furnished to the Property, including without limitation all charges for water, sewage, heat, gas, light, garbage, trash, electricity, and telephone;
Utilities and Operating Expenses. For large commercial properties it is often impossible to have a reading on the day of closing and a perfect true- up of expenses. The contract should include a provision that the intent of the parties is that the buyer be responsible for costs and expenses after closing while the seller be responsible for such expenses prior to closing. This type of provision can require a true-up by the parties if after closing a significant unfairness is discovered (e.g., prepayment of utilities).
Utilities and Operating Expenses. To the extent not paid by Tenants as a component of Additional Rent (as hereinafter defined) or otherwise or utilities are not transferred to the name of Buyer on the Closing, water, electricity, sewer, gas, telephone and other utility charges based, to the extent practicable, on final meter readings and final invoices, shall be prorated at Closing. To the extent not paid by Tenants as a component of Additional Rent or otherwise, any operating expenses shall be prorated between Buyer and Seller, with Seller receiving a credit for any operating expenses paid by Seller and related to the period from and after Closing.
Utilities and Operating Expenses. Tenant shall pay or cause to be paid when due, all charges, fees, assessments and related costs for public utility services (including, without limitation, gas, water, sewer, electricity, light, power, telephone, cable and other communication services and refuse and garbage collection) used, rendered or supplied in connection with the Project throughout the Lease Term. Tenant shall also pay or cause to be paid when due all other costs and expenses in connection with operating the Project in accordance with the terms and conditions hereof including, but not limited to, costs and expenses for personnel, Operating Supplies, Operating Equipment, insurance and compliance with Legal Requirements (subject to the provisions of Section 7.4 hereof).
Utilities and Operating Expenses. Water, electricity, sewer, gas, telephone and other utility charges based, to the extent practicable, on final meter readings and final invoices shall be prorated at Closing. Any operating expenses shall be prorated between Buyer and Seller, with Seller receiving a credit for any operating expenses paid by Seller and related to the period from and after Closing.
Utilities and Operating Expenses. FFN shall pay all operating expenses and utilities for the building in which the Premises are located, including but not limited to: water, electric, sewage, stormwater and waste removal during the Term of this Agreement.
Utilities and Operating Expenses. Purchaser agrees to open accounts with the utility companies serving the Property and to cooperate with Seller in requesting readings as of the Closing Date. If readings cannot be obtained as of the Closing Date, the Parties shall prorate all utility charges relating to the Property, including water, gas, electricity, sewer and the like, outside of escrow, with such prorations to be finalized as soon as practicable following Closing. Expenses under any Approved Contracts assumed by Purchaser shall be prorated as of the Closing Date. If any errors or omissions are made regarding adjustments or prorations, the parties shall make the appropriate corrections promptly upon the discovery thereof. If any estimates are made regarding adjustments or prorations, the Parties shall make the appropriate correction promptly when accurate information becomes available. Any corrected adjustment or proration shall be paid in cash outside of escrow to the party entitled thereto. The obligations of the Parties under this Section 9.3 shall survive for a period of twelve (12) months after the Closing Date.
Utilities and Operating Expenses. To the extent not billed directly to tenants, or paid as part of Additional Rent (as hereinafter defined) or otherwise paid directly by tenants, water, electricity, sewer, gas, telephone and other utility charges based, to the extent practicable, on final meter readings and final invoices. Any operating expenses that are not paid by the tenants as Additional Rent or otherwise shall be prorated between Purchaser and Seller, with Seller receiving a credit for any operating expenses paid by Seller and related to the period from and after Closing and Purchaser receiving a credit for any operating expenses due after the Closing and related to periods prior thereto.