Common use of Items Not Prorated Clause in Contracts

Items Not Prorated. Seller and Buyer agree that (i) on the Closing Date, the Property will not be subject to any financing arranged by Seller; (ii) 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 (iii) 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 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, 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 5.8.2(e).

Items Not Prorated. Seller and Buyer agree that (ia) on the Closing DateClose of Escrow, the Property will not be subject to any financing arranged by Seller; (iib) 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 (iiic) utilities, including telephone, electricity, water, 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 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, regardless of when such refunds, overpayments or deposits are returned to Seller. 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 5.8.2(e)subparagraph (1)(c) above.

Items Not Prorated. Seller and Buyer agree that (ia) on the Closing DateClose of Escrow, the Property will not be subject to any financing arranged by Seller; (iib) 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 (iiic) utilities, including telephone, electricity, water, 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 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, regardless of when such refunds, overpayments or deposits are returned to Seller. 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 5.8.2(e)6.7.2 above.

Items Not Prorated. Seller and Buyer agree that (ia) on the Closing DateClose of Escrow, other than the Loan, the Property will not be subject to any financing arranged by Seller; (iib) 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 (iiic) utilities, including telephone, electricity, water, 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 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, regardless of when such refunds, overpayments or deposits are returned to Seller. 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 5.8.2(e)subparagraph (1)(e) above. Interest and any required principal payments due in the month of Closing on the Loan shall be ratably prorated. Seller shall receive a credit in the amount of any impounds or deposits with Lender if the same are assigned to Buyer at Closing.