Common use of Utility Charges Clause in Contracts

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closing.

Appears in 30 contracts

Sources: Purchase and Sale Agreement (Duke Realty Limited Partnership/), Purchase and Sale Agreement (Duke Realty Limited Partnership/), Purchase and Sale Agreement (Duke Realty Limited Partnership/)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closingsuch date. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closing.

Appears in 4 contracts

Sources: Purchase and Sale Agreement (Duke Realty Limited Partnership/), Purchase and Sale Agreement (Duke Realty Limited Partnership/), Purchase and Sale Agreement (Duke Realty Limited Partnership/)

Utility Charges. GasTenant shall pay or cause to be paid when due all Utility Charges. Tenant shall also pay or reimburse Landlord for all costs and expenses of any kind whatsoever that at any time during the Term hereof, steamwith respect to any Demised Premises, electricity may be imposed against Landlord by reason of any of the Encumbrances (except as expressly provided to the contrary herein, including any and other public utility charges all costs and expenses associated with any utility, drainage and parking easements). Tenant will not enter into any agreements or consent to any transaction or instruments that will encumber the Demised Premises (except for permitted Subleases on the terms and conditions herein) or the Property or any that will affect the Demised Premises or the Property after the expiration of the Term. In the event of any termination of this Master Lease with respect to any Terminated Space (other than any such charges which are payable by Tenants as a result of the Property pursuant an Event of Default), Tenant’s obligation for new Utility Charges shall cease as to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter Utility Charges applicable to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ Terminated Space which shall be rendered which shall cover a period both before first accrue from and after the date of Closing termination; provided, that from and after termination, Tenant shall pay for all Utility Charges with respect to the Tenant Retained Space pursuant to a separate meter to be apportioned between installed by Landlord at its expense (and, until installation of a separate meter is complete, Tenant shall pay all Utility Charges with respect to the Buyer Retained Space in accordance with Landlord’s and the Sellers as Tenant’s reasonable allocation of the ClosingUtility Charges as determined then in good faith based on the most current Utility bills available with respect to Tenant’s usage in the applicable Demised Premises) and all accessory lines and equipment which may be required (if any) to be installed by Landlord at its expense.

Appears in 3 contracts

Sources: Master Lease (Sears Holdings Corp), Master Lease (Seritage Growth Properties), Master Lease (Seritage Growth Properties)

Utility Charges. Gas(a) Water, sewer, gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company on or prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing. To the extent necessary, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers Seller and the Buyer Purchaser shall jointly execute a letter to each of such utility companies company advising such utility companies it of the termination of the Sellers’ Seller’s responsibility for such charges for utilities furnished to the Real Property as of the date of the Closing Date and commencement of the BuyerPurchaser’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a b▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such b▇▇▇ on or before the ClosingClosing Date. If such ▇▇▇▇ shall Any utilities not have been obtained read or billed as of the Closing Date will be prorated as of the Adjustment Point based on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the estimates at Closing, and adjusted after Closing once the Buyer final amounts are known. Additionally, Seller shall pay all receive credits at Closing for the amount of any utility deposits with respect to the Real Property paid by Seller, to the extent Purchaser receives a credit from the applicable utility company on account of such deposit. (b) Notwithstanding the foregoing, if Seller pays any utility bills and, directly or through a billing service, bills the tenants for such utilities, then at Closing, Seller shall receive a credit for the estimated amount of utility charges pertaining incurred by Seller and reimbursable to Seller from tenants under the period thereafterLeases for periods prior to Closing (“RUBS”). Any ▇▇▇▇ which The credit shall be rendered which shall cover a for sixty (60) days of RUBS calculated based on the average RUBS payable by the tenants for the twelve (12) month period both before and after preceding the date of Closing Date. Such credit shall be apportioned between the Buyer final and the Sellers as of the Closingshall not be subject to reproration pursuant to Section 10.10.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Bluerock Residential Growth REIT, Inc.), Purchase and Sale Agreement (Bluerock Residential Growth REIT, Inc.)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the applicable Closing Date and by the Buyer from and after the applicable Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the applicable Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the applicable Closing and commencement of the Buyer’s responsibilities therefor from and after the applicable Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after applicable Closing. If a ▇▇▇▇ is obtained from any such utility company as of the applicable Closing, the Sellers shall pay such ▇▇▇▇ on or before the applicable Closing. If such ▇▇▇▇ shall not have been obtained on or before the applicable Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the applicable Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of applicable Closing shall be apportioned between the Buyer and the Sellers as of the applicable Closing.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Healthcare Trust of America Holdings, LP), Purchase and Sale Agreement (Duke Realty Limited Partnership/)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants tenants of the Property pursuant to such Tenants’ tenants' Space Leases, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants tenants of the Property pursuant to such Tenants’ Leases directly to such utility companytenants' Space Leases. The Sellers Seller and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller's responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s 's responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Shopco Regional Malls Lp)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants tenants of the Property pursuant to such Tenants’ tenants' Space Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants tenants of the Property pursuant to such Tenants’ Leases directly to such utility companytenants' Space Leases. The Sellers Sellers' and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers' responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s 's responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Prime Group Realty Trust)

Utility Charges. GasTenant shall pay or cause to be paid when due all Utility Charges. Tenant shall also pay or reimburse Landlord for all costs and expenses of any kind whatsoever that at any time during the Term hereof, steamwith respect to any Demised Premises, electricity may be imposed against Landlord by reason of any of the Encumbrances (except as expressly provided to the contrary herein, including any and other public utility charges all costs and expenses associated with any utility, drainage and parking easements). Tenant will not enter into any agreements or consent to any transaction or instruments that will encumber the Demised Premises (except for permitted Subleases on the terms and conditions herein) or the Property or any that will affect the Demised Premises or the Property after the expiration of the Term. In the event of any termination of this Master Lease with respect to any Terminated Space (other than any such charges which are payable by Tenants as a result of the Property pursuant an Event of Default), Tenant’s obligation for new Utility Charges shall cease as to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter Utility Charges applicable to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ Terminated Space which shall be rendered which shall cover a period both before first accrue from and after the date of Closing termination; provided, that from and after termination, Tenant shall pay for all Utility Charges with respect to the Tenant Retained Space pursuant to a separate meter to be apportioned between installed by Landlord at its expense (and, until installation of a separate meter is complete, Tenant shall pay all Utility Charges with respect to the Buyer Retained Space in accordance with Landlord’s and the Sellers as Tenant’s reasonable allocation of the ClosingUtility Charges as determined then in good faith based on the most current utility bills available with respect to Tenant’s usage in the applicable Demised Premises) and all accessory lines and equipment which may be required (if any) to be installed by Landlord at its expense.

Appears in 1 contract

Sources: Master Lease (Seritage Growth Properties)

Utility Charges. Gas(a) Water, sewer, gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers applicable Seller to the utility company on or prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing. To the extent necessary, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers each affected Seller and the Buyer Purchaser shall jointly execute a letter to each of such utility companies company advising such utility companies it of the termination of the Sellers’ such Seller’s responsibility for such charges for utilities furnished to the applicable Real Property as of the date of the Closing Date and commencement of the BuyerPurchaser’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a b▇▇▇ is obtained from any such utility company as of the Closing, the Sellers applicable Seller shall pay such b▇▇▇ on or before the Closing Date. Any utilities not read or billed as of the Closing Date will be prorated as of the Adjustment Point based on estimates at Closing, and adjusted after Closing once the final amounts are known. If such ▇▇▇▇ shall not have been obtained on or before the ClosingAdditionally, the Sellers shallshall receive credits at Closing for the amount of any utility deposits with respect to the Real Property paid by the Sellers, upon receipt to the extent Purchaser receives a credit from the applicable utility company on account of such ▇▇▇▇deposit. (b) Notwithstanding the foregoing, pay all if any Seller pays any utility bills and, directly or through a billing service, bills the tenants for such utilities, then at Closing, such Seller shall receive a credit for the estimated amount of utility charges as evidenced incurred by such ▇▇▇▇ or bills pertaining Seller and reimbursable to such Seller from tenants under the period Leases for periods prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafterClosing (“RUBS”). Any ▇▇▇▇ which The credit shall be rendered which shall cover a for sixty (60) days of RUBS calculated based on the average RUBS payable by the tenants for the twelve (12) month period both before and after preceding the date of Closing Date. Such credit shall be apportioned between the Buyer final and the Sellers as of the Closingshall not be subject to reproration pursuant to Section 10.10.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Bluerock Residential Growth REIT, Inc.)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants tenants of the Property pursuant to such Tenants’ tenants' Space Leases, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants tenants of the Property pursuant to such Tenants’ Leases directly to such utility companytenants' Space Leases. The Sellers Seller and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller's responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s 's responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Option Agreement (Prime Group Realty Trust)

Utility Charges. GasPrepaid water, steam, electricity sewer and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers allocable to the utility company prior to the Closing Date and by the Buyer period from and after the Closing Date. The Sellers Date (if any) shall use commercially reasonable efforts be credited to arrange for a final reading of all utility meters (covering gasSeller, and any accrued and unpaid water, steam sewer, and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such other utility charges as evidenced by such ▇▇▇▇ or bills pertaining allocable to the period prior to the Closing, and Closing Date shall be credited to Purchaser. If any of the Buyer shall pay all such foregoing utility charges pertaining are subject to a meter, then pro- ration at the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between based on the Buyer and last available reading or an estimate of the Sellers amount due at Closing, subject to the adjustment after the Closing, when the next reading is available. Seller shall arrange for meter readings of all utilities within thirty (30) days of the Closing. Seller will reasonably cooperate with Purchaser in transferring all utility accounts, if any. The provisions of this sub-paragraph 9(c) shall survive Closing. The foregoing pro-rations shall be made as of the ClosingClosing Date based on the best information and estimates available to the parties at the time. Such pro-rations shall be considered final and binding for all purposes absent material mistake of fact. If any of the pro-rations described in this Section 9 cannot be calculated accurately on the Closing Date, then the same shall be calculated as soon as reasonably possible thereafter and either party owing the other party a sum of money based on such subsequent pro-rations shall promptly pay said sum to the other party. A final closing adjustment shall be made by Purchaser and Seller within thirty (30) days after the necessary information is available to the parties, and to the extent that any additional payment or repayment is indicated by the final adjustment, the payment or repayment shall be made within thirty (30) days after the final adjustment is made. If a dispute shall arise between Purchaser and Seller regarding the final closing adjustments and the parties are unable to resolve the same, the matter shall be referred to arbitration and the determination of such arbitrator shall be final and binding upon the parties. The fees and expenses shall be borne by the parties equally.

Appears in 1 contract

Sources: Purchase and Sale Agreement

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants tenants of the Property pursuant to such Tenants’ tenants' Space Leases, for which no adjustment will be made) will be paid by the Sellers Seller of each Property to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Each Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants tenants of the relevant Property pursuant to such Tenants’ Leases directly to such utility companytenants' Space Leases. The Sellers Each Seller and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller's responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s 's responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Prime Group Realty Trust)

Utility Charges. Gas, steam, electricity electricity, water, sewage and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, watersteam, steam electricity, water and electricitysewage) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers Seller and the Buyer Purchaser shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller’s responsibility for such charges for utilities furnished to the Property Facilities as of the date of the Closing Date and commencement of the BuyerPurchaser’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇bill ▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇bill ▇▇ on or before the Closing. If such bill ▇▇▇▇ shall ll not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such bill, ▇▇▇▇, pay y all such utility charges as evidenced by such ▇▇bill ▇▇ or bills pertaining to the period prior to the Closing, and the Buyer Purchaser shall pay all such utility charges pertaining to the period thereafter. Any bill ▇▇▇▇ which shall be rendered which shall cover t covers a period both before and after the date of Closing Date shall be apportioned between the Buyer Purchaser and the Sellers Seller as of the Closing. Seller shall be entitled to a refund of all deposits held by such utility companies and Purchaser shall arrange to make its own deposits with the utility companies as of the Closing Date.

Appears in 1 contract

Sources: Asset Purchase Agreement (Adcare Health Systems, Inc)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing (and in any event not more than thirty (30) days prior to the Closing), except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (CNL Healthcare Properties, Inc.)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to through the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closingsuch date. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Duke Realty Corp)

Utility Charges. GasTo the extent water/sewer charges, steamstorm-water charges, electricity gas, electric, telephone and other public utility charges (other than any such charges which are utilities maintained and payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers with respect to the utility company operation of a Property are the responsibility of such Seller thereof prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) or as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of are not paid by Tenants under the Buyer’s responsibilities therefor from and after the Closing. The Buyer Tenant Leases applicable to such Property, such utilities shall arrange for such service to all be placed in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company prorated as of the Closing Date (with such amounts for the Closing Date being charged to Purchaser). To the extent such utilities are the full and complete responsibility of, and have been and are paid by, one or more Tenants under the Tenant Leases applicable to such Property, such utilities shall not be prorated at Closing. Further, each Seller shall receive a credit at the Closing in an amount equal to any cash security deposits (to the extent assignable) held by any utility companies with respect to the Property to be conveyed by such Seller and shall (to the extent legally permissible) assign to Purchaser at the Closing all of such Seller’s right, title and interest in and to such security or similar deposits. To the extent any cash security, surety bonds or other security placed with any utility provider, together with the associated utility account, in the name of such applicable Seller are not DLI-6447995v8 11 assignable or transferable by any one or more of Sellers to Purchaser, then within two Business Days immediately following Closing, Purchaser shall make its own arrangements to put in place new accounts, security deposits, all surety bonds and/or other security required by any utility companies with respect to the Sellers Properties, and each applicable Seller shall pay thereafter be entitled without liability to Purchaser to cancel such ▇▇▇▇ on accounts in its name, cancel any surety bonds previously furnished by such Seller and seek return of any other deposits or before security previously placed with such utility providers by such Seller. Purchaser shall indemnify, defend and hold Purchaser harmless from and against any costs (including reasonable attorneys’ fees and court costs and costs of investigation), losses, damages, liabilities or expenses incurred by Purchaser as a result of the Closing. If such ▇▇▇▇ shall not loss of any security deposit, surety or other deposit or security that would have been obtained on or before refunded to a Seller except for the Closing, the Sellers shall, upon receipt actions of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the ClosingPurchaser.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants tenants of the Property pursuant to such Tenants’ tenants' Space Leases, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants tenants of the Property pursuant to such Tenants’ Leases directly to such utility companytenants' Space Leases. The Sellers Seller and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller's responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s 's responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a bill is obtained from any ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ bill on or before the ClosingClos▇▇▇. If such ▇▇▇▇ bill shall not have been obtained o▇▇▇▇ned on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇bill, pay all such utility charges ▇▇▇rges as evidenced by such ▇▇▇▇ bill or bills pertaining to the t▇ ▇▇e period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ bill which shall be rendered which render▇▇ ▇hich shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (HRPT Properties Trust)

Utility Charges. Gas, water, sewer, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Space Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after through the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, sewer, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility companySpace Leases. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closing. If any deposit on account with any utility company servicing a Property is transferred to the Buyer, such deposit will not be apportioned, but the Sellers shall receive a credit in the full amount thereof (including accrued interest thereon, if any).

Appears in 1 contract

Sources: Purchase and Sale Agreement (American Realty Capital Properties, Inc.)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants tenants of the Property pursuant to such TenantstenantsSpace Leases, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants tenants of the Property pursuant to such TenantstenantsLeases directly to such utility companySpace Leases. The Sellers To the extent necessary, Seller and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller’s responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Glimcher Realty Trust)

Utility Charges. GasWater rates, water meter charges, sewer rents, vault charges, gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Space Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after through the Closing Date. The Sellers agree that they shall use commercially reasonable efforts to arrange for at the Closing furnish a final reading of all utility meters such utilities applicable to each Property to a date not more than thirty (covering gas, water, steam 30) days prior to the Closing and electricity) as the unfixed meter charges thereon for the time intervening from the date of the Closinglast reading shall be apportioned on the basis of such last reading, and shall be appropriately readjusted after the Closing on the basis of the next subsequent bills, except meters the charges of which are payable by Tenants of the Property Properties pursuant to such Tenants’ Leases directly Space Leases. Notwithstanding the foregoing to such utility companythe contrary, the Sellers may elect to close their own applicable accounts, in which event the Buyer shall open its own accounts and the respective charges shall not be prorated. The If requested by Sellers or the Buyer, the Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Elbit Imaging LTD)

Utility Charges. Gas, steam, electricity and other public utility Tenant shall pay all charges (other than any such charges which are payable by Tenants of the Property pursuant to such Tenants’ Leases, for which no adjustment will be made) will be paid by the Sellers to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam sewer, electricity, telephone and electricity) other utility services used in the Premises during the Term. If any such charges are not paid when due Landlord may pay the same, and any amount so paid by Landlord shall thereupon become due to Landlord from Tenant as of additional rent. If any utilities services are separately metered to the ClosingPremises, except meters then Tenant shall cause the charges of which are payable by Tenants of the Property pursuant for such services to such Tenants’ Leases be billed directly to Tenant and shall pay such charges directly to the purveyor(s) of such services. As to any utility company. The Sellers service (other than for gas and electric) not separately metered to the Premises, (a) Landlord shall pay the bills for such services, (b) Landlord shall allocate such bills among Tenant and the Buyer other tenants using such utilities on such basis as Landlord determines to be reasonable, and (c) Tenant shall jointly execute a letter to each pay its allocated portion of such bills to Landlord, as additional rent, within ten (10) days after receipt of Landlord’s notice or invoice therefor. If the gas and electric utility companies advising such utility companies of the termination of the Sellers’ responsibility for such charges for utilities furnished services are not separately metered to the Property Premises as of the date of the Closing and commencement this Lease, then, in connection with construction of the BuyerImprovements as provided in Exhibit “D”, Tenant, at Landlord’s responsibilities therefor from and after the Closing. The Buyer cost, shall arrange install a separate meter or submeter for such service to be placed utility services in the Buyer’s name after Closing. If a ▇▇▇▇ is obtained from any such utility company as of the ClosingPremises, the Sellers and Tenant shall pay such ▇▇▇▇ on or before charges directly to the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers shall, upon receipt purveyor(s) of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers as of the Closingservices.

Appears in 1 contract

Sources: Lease Agreement

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants of the Property any Tenant pursuant to such Tenants’ the Leases, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of any Tenant under the Property pursuant to such Tenants’ Leases directly to such utility companyLeases. The Sellers To the extent necessary, the Seller and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller’s responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (American Realty Capital New York City REIT, Inc.)

Utility Charges. Gas(a) Tenant shall be solely responsible for and promptly pay all charges for water, steamgas, electricity heat, electricity, sewer and any other utility used upon or furnished to the Premises. Tenant shall contract directly with and shall be solely responsible to the public utility companies for the installation of service and the payment of all charges (other than for Tenant’s usage of such utility services. If Landlord shall elect to supply any such charges which are payable by Tenants of the Property pursuant foregoing utilities used upon or furnished to the Premises, ▇▇▇▇▇▇ agrees to purchase and pay for same as additional rent, within ten (10) days of the presentation by Landlord to Tenant of bills therefor, at the rates which would be applicable to Tenant as a direct customer of the public utility company, as such Tenants’ Leases, for which no adjustment will be made) will be paid rates are filed by the Sellers to the utility company prior serving the area with the proper regulating authority and in effect from time to the Closing Date and by the Buyer from and after the Closing Datetime covering such services. The Sellers shall use commercially reasonable efforts obligation of Tenant to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants of the Property pursuant to such Tenants’ Leases directly to such utility company. The Sellers and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ responsibility pay for such charges for utilities furnished to the Property shall commence as of the date on which possession of the Closing Premises is delivered to Tenant, without regard to any free rental period or formal commencement date of this Lease. (b) Landlord shall not be liable to Tenant for any loss, damage or expense which Tenant may sustain if the quality or character of utilities used upon or furnished to the Premises are no longer available or suitable for Tenant’s requirements, or if said utilities are interrupted as a result of actions by the public utility companies or any cause other than Landlord’s negligence or willful default. Landlord, at any time at its discretion and commencement upon not less than one hundred eighty (180) days’ prior written notice to Tenant, may discontinue the furnishing of any utility then supplied to the Premises by Landlord and, in such case, Tenant shall contract for the supply of such utility with the applicable public utility company supplying such utility to the neighborhood. (c) Any furnishing by Landlord of any utilities shall be conditioned upon the availability of adequate sources. Landlord shall have the right to reduce water, heat, lighting and air conditioning within the Shopping Center as required by any mandatory or voluntary fuel or energy saving allocation, or any similar statute, regulation, order or program, without such action diminishing Tenant’s obligations hereunder. (d) Tenant shall be responsible for the payment of the Buyer’s responsibilities therefor from plant capacity and after the Closing. The Buyer shall arrange for such main extension charge and any other tapping, connection and use charges and fees imposed by any governmental units or utility companies in connection with any utility service to be placed in the Buyer’s name after ClosingPremises. If a Landlord has paid the same, ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before reimburse Landlord therefor as additional rent. (e) Tenant shall pay the Closingcapital charge and an annual operating charge for the central condenser water system pursuant to Exhibit “D” hereto. Tenant agrees to operate its heating, ventilating and air conditioning system(s) serving the Premises during regular Shopping Center business hours to maintain comfortable conditions. Temperatures in the Premises shall be maintained in accordance with Landlord’s requirements. Tenant’s obligation for connecting to, and all charges for, the Sellers shallcentral condenser water system, upon receipt as well as Tenant’s installation, operation and maintenance of such ▇▇▇▇its heating and ventilating and air conditioning portion of the system, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which as set forth in Exhibits “C” and “D” attached hereto and made a part hereof. Tenants in the areas of the Shopping Center as designated on leasing plans, when approved by Landlord for the installation of a separate heating, ventilating and air conditioning system serving the Premises, shall cover construct the same in accordance with Landlord’s criteria, as set forth in Exhibit “C”. Tenants installing such a period both before and after the date of Closing system shall be apportioned between fully obligated for its maintenance and repair. Tenant shall not drain heat or ventilation or air conditioning from the Buyer enclosed Mall into the Premises and Tenant shall at all times maintain adequate temperatures within the Sellers as Premises to prevent any such drainage; likewise, Tenant shall not discharge air from the Premises into the enclosed Mall. Landlord shall not be obligated to Tenant for any damages or cost or expense resulting, directly or indirectly, from any failure or malfunction of the Closingcentral condenser water supply system or any component parts thereof.

Appears in 1 contract

Sources: Lease Agreement (Impossible Kicks Holding Company, Inc.)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants the direct responsibility of the tenants of the Property pursuant to such Tenants’ Leasesthe applicable public or private utilities supplier, for which no adjustment will be made) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants the direct responsibility of the tenants of the Property pursuant to such Tenants’ Leases directly to such utility companythe applicable public or private utilities supplier. The Sellers Seller and the Buyer shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller’s responsibility for such charges for utilities furnished to the Property as of the date of the Closing and commencement of the Buyer’s responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇▇▇ on or before the Closing. If such ▇▇▇▇ shall not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such ▇▇▇▇, pay all such utility charges as evidenced by such ▇▇▇▇ or bills pertaining to the period prior to the Closing, and the Buyer shall pay all such utility charges pertaining to the period thereafter. Any ▇▇▇▇ which shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Wells Real Estate Investment Trust Inc)

Utility Charges. Gas, steam, electricity and other public utility charges (other than any such charges which are payable by Tenants tenants of the Property Units pursuant to such Tenants’ Leases, for which no adjustment will be madetenants' leases) will be paid by the Sellers Seller to the utility company prior to the Closing Date and by the Buyer from and after the Closing Date. The Sellers Seller shall use commercially reasonable efforts to arrange for a final reading of all utility meters (covering gas, water, steam and electricity) as of the Closing, except meters the charges of which are payable by Tenants tenants of the Property Units pursuant to such Tenants’ Leases directly to such utility companytenants' leases. The Sellers At the Closing, Seller and the Buyer Purchaser shall jointly execute a letter to each of such utility companies advising such utility companies of the termination of the Sellers’ Seller's responsibility for such charges for utilities furnished to the Property Units as of the date of the Closing and commencement of the Buyer’s Purchaser's responsibilities therefor from and after the Closing. The Buyer shall arrange for such service to be placed in the Buyer’s name after Closingdate. If a ▇▇bill ▇▇ is obtained from any such utility company as of the Closing, the Sellers Seller shall pay such ▇▇bill ▇▇ on or before the Closing. If such bill ▇▇▇▇ shall ll not have been obtained on or before the Closing, the Sellers Seller shall, upon receipt of such bill, ▇▇▇▇, pay y all such utility charges as evidenced by such ▇▇bill ▇▇ or bills pertaining to the period prior to the Closing, and the Buyer Purchaser shall pay all such utility charges pertaining to the period thereafter. Any bill ▇▇▇▇ which ch shall be rendered which shall cover a period both before and after the date of Closing shall be apportioned between the Buyer Purchaser and the Sellers Seller as of the Closing.

Appears in 1 contract

Sources: Sale and Purchase Agreement (Ampal American Israel Corp /Ny/)