Common use of Items Not Prorated Clause in Contracts

Items Not Prorated. Seller and Buyer agree that (a) on the Closing Date, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan); (b) 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 (c) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing Date, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan), insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 above.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing Date, the Title Company shall have received, or shall have made satisfactory arrangements to receive post-funding, a duly executed release of lien to be recorded in the real property of the parish where the Property will not be subject is located, with respect to any financing arranged by Seller (other than each mortgage or deed of trust encumbering the HUD Loan)Property; (b) 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 (c) utilities, including telephone, electricity, water and gas, shall be read on not more than fifteen (15) days prior to the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing Date, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 6.3(b) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing DateClose of Escrow, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan)Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer Buyer, and Buyer shall be responsible for arranging for its own insurance as of the Closing DateClose of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date Close of Escrow, and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing DateClose of Escrow, including the posting of any required deposits deposits, and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing DateClose of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 6.7.1(e) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing DateClose of Escrow, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan)Seller; (b) 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 DateClose of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date Close of Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing DateClose of Escrow, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing DateClose of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event If a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 subparagraph (1)(c) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing Date, the Property will not be subject to any financing arranged by Seller (other than except as terminated as of the HUD Loan)Closing Date; (b) 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 (c) utilities, including telephone, electricity, water water, and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing Date, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 aboveprovide.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing DateClose of Escrow, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan)Seller; (b) 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 DateClose of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on or as close as practicable to the Closing Date Close of Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing DateClose of Escrow, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing DateClose of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 6.7.2 above.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing Date, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan); (b) 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 (cb) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing Date, including the posting of any required deposits (it being understood, however, that Seller shall be entitled to a credit at the Closing any utility deposits which it or its predecessors have made prior to the Closing Date, to the extent the same are transferred to Buyer, and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to and including the Closing Date, and any utility deposits for which it or its predecessors may have posteddoes not receive a credit hereunder). Accordingly, there will be no prorations for debt service insurance, utilities (other than except to the HUD Loanextent provided above for utility deposits), insurance or utilitiespayroll. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 subparagraph (1)(d) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing DateClose of Escrow, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan)Seller; (b) 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 DateClose of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be he read on the Closing Date Close of Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be he transferred to the name of Buyer on the Closing DateClose of Escrow, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing DateClose of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event , If a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 subparagraph (1)(e) above.

Items Not Prorated. Seller and Buyer agree that (ai) on the Closing Date, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan)Seller; (bii) 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 (ciii) utilities, including telephone, electricity, water water, and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing Date, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing Date, and any utility deposits which it or its predecessors may have posted, regardless of when such refunds, overpayments or deposits are returned to Seller. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 above5.8.2(e).

Items Not Prorated. Seller and Buyer agree that (a) on the Closing DateClose of Escrow, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan)Seller; (b) 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 DateClose of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date Close of Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing DateClose of Escrow, including the posting of any required deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Closing DateClose of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan)service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 Paragraph 6.7.2 above.

Items Not Prorated. Seller and Buyer agree that (a) on the Closing Date, the Property will not be subject to any financing arranged by Seller (other than the HUD Loan); (b) none all of the insurance policies relating to the Company, Seller and/or the Property will be assigned cancelled or terminated by Parent with respect to Buyer the Company, Seller and the Property effective as of the Closing Date and Buyer shall be responsible for arranging for its own insurance for the Company, Seller and the Property as of the Closing DateClosing; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date and Buyer shall be responsible for for, and shall provide Parent with evidence of, all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Closing DateClosing, including the posting of any required deposits deposits, and the applicable Seller Parent shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments attributable to Seller to the extent applicable to the period prior to the Closing DateClosing, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service (other than the HUD Loan), insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.8.2 7.7.l(g) above.,