Common use of Payment for electricity services Clause in Contracts

Payment for electricity services. 12.1. The Lessor shall install at its expense and under its responsibility a secondary electricity meter and a secondary water meter in the Leased Premises (the electricity meter installed by the Lessor shall operate according to time of use metering). 12.2. Once a month, and no later than the 14th of each month, the Lessor shall submit to the Lessee a ▇▇▇▇ for the electricity and water consumption in the Leased Premises according to the readings of the said electricity and water meters. The rate charged from the Lessee in respect of the consumption of electricity in the Leased Premises according to the reading of the said meter [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] shall be the customary rate from time to time charged by IEC for consumption of electricity according to time of use meeting for low voltage. 12.3. The Lessee undertakes to pay to the Lessor in respect of electricity consumption during the Term of Lease according to the bills delivered by the Lessor and according to low voltage, time of use metering method. The Lessee confirms and agrees that the Lessor shall be entitled to disconnect the electricity supply to the Leased Premises both due to failure to pay the debt in respect of the supply of electricity and in respect of any fundamental breach of this Agreement, on the condition the Lessor delivers to the Lessee a 7 days’ prior and written notice in connection therewith. The Lessee declares that it is aware that the payments in respect of the consumption of electricity shall be made in addition to and not instead of other payments in accordance with this Agreement.