Common use of Utility and Maintenance Charges Clause in Contracts

Utility and Maintenance Charges. Seller shall pay or cause to be paid (i) all unpaid charges for water, electricity, gas, trash removal, sewer, telephone or other utility services which are furnished to or in connection with the Hotel prior to the Closing Date and (ii) all unpaid charges for landscaping and all other maintenance services which are furnished to or in connection with the Hotel prior to the Closing Date. Not less than three (3) days prior to Closing, Seller and Buyer shall notify and instruct the suppliers of the foregoing utility services to read the meters for such services as of the day prior to the Closing Date and to render to Seller a final statement for all charges for utility services furnished to the Property prior to the Closing Date. If the final meter readings cannot be obtained, Buyer and Seller shall prorate such charges based upon the particular utility company's billing for the immediately preceding billing period determined on a per diem basis based on the actual number of days in the billing period. Buyer shall receive a credit for the allocated amount of such charges applicable to the period to and including the day preceding the Closing Date and, following the Closing, Buyer shall be responsible for, and shall pay, all xxxxxxxx received from the utility company for the current and future billing periods.

Utility and Maintenance Charges. Seller shall pay or cause to be paid (i) all unpaid charges for water, electricity, gas, trash removal, sewer, telephone or other utility services which are furnished to or in connection with the Hotel prior to the Closing Date Date, and (ii) all unpaid charges for landscaping and all other maintenance services which are furnished to or in connection with the Hotel prior to the Closing Date. Not less than three (3) days prior to Closing, Seller and Buyer shall notify and instruct the suppliers of the foregoing utility services to read the meters for such services as of the day prior to the Closing Date and to render to Seller a final statement for all charges for utility services furnished to the Property Hotel prior to the Closing Date. If the final meter readings cannot be obtained, Buyer and Seller shall prorate such charges based upon the particular utility company's billing for the immediately preceding billing period determined on a per diem basis based on the actual number of days in the billing period. Buyer shall receive a credit for the allocated amount of such charges applicable to the period to and including the day preceding the Closing Date and, following the Closing, Buyer shall be responsible for, and shall pay, all xxxxxxxx bxxxxxxx received from the utility company for the current and future billing periods. Buyer shall be charged at Closing for any deposits for utility services made by Seller, and all Seller's rights to such deposits shall be assigned to Buyer at Closing.