Common use of Items Not Prorated Clause in Contracts

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, and Buyer shall responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the 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 Close of Escrow, including the posting of any required deposits, and 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 Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt 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 6.7.1(e) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of EscrowClosing 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 Sellereach mortgage or deed of trust encumbering the Property; (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 Close of EscrowClosing Date; and (c) utilities, including telephone, electricity, water and gas, shall be read on not more than fifteen (15) days prior to the Close of Escrow, 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 Close of EscrowClosing Date, including the posting of any required deposits, deposits and 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 Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt 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 6.7.1(e6.3(b) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall will be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (cb) utilities, including telephone, electricity, water and gas, shall will be read on the Close of Escrow, Closing Date and Buyer shall will be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required depositsdeposits (it being understood, however, that Seller will be entitled to a credit at the Closing for any utility deposits which it or its predecessors have made prior to the Closing Date, to the extent the same are credited to Buyer at Closing, and Seller shall will 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 Close of EscrowClosing Date, and any utility deposits for which it does not receive a credit hereunder); and (c) on the Closing Date, the Property will not be subject to any financing obtained by Seller or its predecessors may have postedpredecessors. Accordingly, there will be no prorations for insurance, utilities (except to the extent provided above for utility deposits), payroll or debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall will be prorated in the manner provided in Section 6.7.1(esubparagraph (1)(d) above.

Items Not Prorated. Seller and Buyer Purchaser agree that that: (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Purchaser and Buyer Purchaser shall be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Closing Date and Buyer Seller shall be responsible for all the necessary actions needed to arrange for meters to be read, and Purchaser shall be responsible for utilities to be transferred changed to the name of Buyer Purchaser on the Close of EscrowClosing Date, including the posting of any required deposits; provided, and however, that Seller shall be entitled to a credit at the Closing for any utility deposits which it or its predecessors have made prior to the Closing Date, to the extent the same are transferred to Purchaser at Closing. 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 Close of EscrowClosing Date, and any utility deposits for which it or its predecessors may have posteddoes not receive a credit hereunder. AccordinglyIf accounts are not set up in Purchaser’s name on the Closing Date, there will be no prorations all charges for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility utilities shall be prorated in outside of escrow within 60 days after the manner provided in Section 6.7.1(e) aboveClosing Date.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by 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 Close of EscrowClosing Date; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, 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 Close of EscrowClosing Date, including the posting of any required depositsdeposits (it being understood, however, that Seller shall be entitled to a credit at the Closing in the amount of 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 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 Close of EscrowClosing 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 or utilitiesutilities (except to the extent provided above for utility deposits). In Notwithstanding the foregoing, in the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e6D(1)(d) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (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 Buyerthe Company, Seller and the Property effective as of the Closing Date and Buyer shall responsible for arranging for its own insurance for the Company, Seller and the Property as of the Close of EscrowClosing; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Closing 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 Close of EscrowClosing, including the posting of any required deposits, and 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 Close of EscrowClosing, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt 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 6.7.1(e7.7.l(g) above.,

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, 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 Close of EscrowClosing Date, including the posting of any required depositsdeposits (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 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 Close of EscrowClosing 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 serviceinsurance, insurance utilities (except to the extent provided above for utility deposits), 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 6.7.1(esubparagraph (1)(d) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; provided, however, that Seller may use proceeds from the sale to payoff any financing through Escrow concurrently with the Close of Escrow; (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 Close of Escrow; and (c) final reading of all meters for all public utilities, including telephone, electricity, sewer, water and gas, shall be ordered read by Seller on the Close of Escrow, Escrow and all charges to said date shall be paid by Seller 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 Close of Escrow, including the posting of any required deposits, deposits and 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 Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt 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 6.7.1(e) 6.7.2 above. Seller shall obtain any statements required by any governmental authority respecting the status of the account for any such utilities.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by 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 Close of EscrowClosing Date; and (cb) to the extent the same are in the name of Seller, utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities in the name of Seller to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required depositsdeposits (it being understood, however, that Seller shall be entitled to a credit at the Closing in the amount of 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 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 Close of EscrowClosing 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 or utilitiesutilities (except to the extent provided herein for utility deposits). In Notwithstanding the foregoing, in the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e6D(1)(e) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of EscrowClosing Date, the Property will not be subject to any financing arranged by SellerSeller (other than the HUD Loan); (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 Close of EscrowClosing Date; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, 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 Close of EscrowClosing Date, 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 Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt serviceservice (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 6.7.1(e) 6.8.2 above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, 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 Close of EscrowClosing Date, including the posting of any required deposits, and deposits (it being understood that Seller shall be entitled to recover and retain from the providers of such utilities (i) any utility deposits which it or its predecessors have made prior to the Closing Date, and (ii) any refunds or overpayments to the extent applicable to the period prior to the Close Closing Date); (c) no employee of EscrowSeller performing services at or related to the Property shall become the employee of Buyer; and (d) on the Closing Date, and it is contemplated that the Property will not be subject to any utility deposits which it financing obtained by Seller or its predecessors may have postedpredecessors. Accordingly, there will be no prorations for insurance, utilities, payroll or debt 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 6.7.1(esubparagraph 5D(1)(c) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of EscrowClosing Date, the Property will not be subject to any financing arranged by SellerSeller except as terminated as of the Closing Date; (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 Close of EscrowClosing Date; and (c) utilities, including telephone, electricity, water water, and gas, shall be read on the Close of Escrow, 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 Close of EscrowClosing Date, including the posting of any required deposits, deposits and 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 Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt 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 6.7.1(e) aboveprovide.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by 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 Close of EscrowClosing Date; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, 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 Close of EscrowClosing Date, including the posting of any required depositsdeposits (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 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 Close of EscrowClosing 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 serviceinsurance, insurance utilities (except to the extent provided above for utility deposits), 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 6.7.1(esubparagraph (1)(d) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be he read on the Close of Escrow, 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 Close of Escrow, including the posting of any required deposits, deposits and 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 Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt 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 6.7.1(esubparagraph (1)(e) above.

Items Not Prorated. Seller and Buyer agree that (ai) on the Close of EscrowClosing Date, the Property will not be subject to any financing arranged by SellerSeller (provided, Buyer understands and agrees that the existing mortgage and other liens against the Property will be satisfied through the Purchase Price proceeds); (bii) 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 Close of EscrowClosing Date; and (ciii) utilities, including telephone, electricity, water water, and gas, shall be read on the Close of Escrow, 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 Close of EscrowClosing Date, including the posting of any required deposits, deposits and 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 Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt 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 6.7.1(e) above5.8.2(e).