Items for Which There Will Not be a Proration Sample Clauses

Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) none of the insurance policies relating to the Golf Club will be assigned to Buyer, and Buyer shall be responsible for arranging for its own insurance as of the Closing Date; and (b) utilities, including telephone, electricity, water and gas, shall be terminated as to Seller’s account on the Closing Date, and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to and continued in the name of Buyer beginning 12:01 A.M. on the Closing Date, including the posting of any required deposits. Accordingly, there will be no prorations for insurance or utilities, unless a meter reading is unavailable for any particular utility, then such utility shall be prorated in the manner provided in Section 29 above. To the extent reasonably possible, Buyer and Seller shall cooperate to arrange for utility and other service providers to separately xxxx each party for their respective periods of ownership, in which event no credit and no proration will be necessary. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies or will receive a credit at Closing from Buyer to the extent such deposits may be transferred to Buyer’s account.
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Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) none of the insurance policies relating to the Property will be assigned to Buyer, and Buyer shall be responsible for arranging for its own insurance as of the Closing Date; and (b) Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer beginning 12:01 A.M. on the Closing Date, including the posting of any required deposits to the extent that such deposits will be returned to Seller. Accordingly, there will be no prorations for insurance or utilities; provided, if any required deposit will not be returned to Seller, Seller will receive a credit at Closing in the amount of such deposit. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies, or will receive a credit at Closing from Buyer to the extent such deposits are not remitted to Seller and Buyer shall pay, or cause Manager to pay, any unpaid utility charges with respect to the Property as shown on all utility bills issued with respect to the Property and paid in the ordinary course of business by Manager. The foregoing notwithstanding, Seller shall direct its insurer to pay Manager or Buyer any prepaid insurance premium refund under Seller’s existing insurance policies relating to the Property; provided, however, if any such refund is paid to Seller, despite Seller’s direction to the contrary, Seller shall pay such amount to Buyer (or to Manager, if Buyer so directs) within three (3) business days after receipt of the same.
Sample 1

Related to Items for Which There Will Not be a Proration

  • Account Types The Financial Institution agrees that each Collateral Account is, and will be maintained as, either a “securities account” (as defined in Section 8-501 of the UCC) or a “deposit account” (as defined in Section 9-102(a)(29) of the UCC).

  • SUBACCOUNTS The Separate Account is divided into Subaccounts which invest in shares of mutual funds. Each Subaccount may invest its assets in a separate class or series of a designated mutual fund or funds. The Subaccounts are shown on page 3. Subject to the regulatory requirements then in force, SBL reserves the right to:

  • Stop Payments The Fund hereby authorizes the Transfer Agent to stop payment of checks issued in payment of dividends, but not presented for payment, when the payees thereof allege either that they have not received the checks or that such checks have been mislaid, lost, stolen, destroyed or, through no fault of theirs, are otherwise beyond their control and cannot be produced by them for presentation and collection, and the Transfer Agent shall issue and deliver duplicate checks in replacement thereof, and the Fund shall indemnify Transfer Agent against any loss or damage resulting from reissuance of the checks.

  • Account Verification Whether or not a Default or Event of Default exists, Agent shall have the right at any time, in the name of Agent, any designee of Agent or any Borrower, to verify the validity, amount or any other matter relating to any Accounts of Borrowers by mail, telephone or otherwise. Borrowers shall cooperate fully with Agent in an effort to facilitate and promptly conclude any such verification process.

  • Taxes and Other Charges for Which Tenant Is Directly Responsible 4.5.1 Tenant shall be liable for and shall pay ten (10) days before delinquency, taxes levied against Tenant’s equipment, furniture, fixtures and any other personal property located in or about the Premises. If any such taxes on Tenant’s equipment, furniture, fixtures and any other personal property are levied against Landlord or Landlord’s property or if the assessed value of Landlord’s property is increased by the inclusion therein of a value placed upon such equipment, furniture, fixtures or any other personal property and if Landlord pays the taxes based upon such increased assessment, which Landlord shall have the right to do regardless of the validity thereof but only under proper protest if requested by Tenant, Tenant shall upon demand repay to Landlord the taxes so levied against Landlord or the proportion of such taxes resulting from such increase in the assessment, as the case may be.

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