Common use of Utilities and Operating Expenses Clause in Contracts

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.