Common use of Utility Contracts Clause in Contracts

Utility Contracts. If Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the Property or a group of properties (including the Property) (a "Utility Contract"), or an affiliate of Seller has entered into a Utility Contract, then, at the option of Seller, either (a) Purchaser either shall assume the Utility Contract with respect to the Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the Property from and after the Closing shall be paid to Seller at the Closing and Seller shall remain responsible for payments under the Utility Contract.

Appears in 7 contracts

Samples: Purchase and Sale Contract (Consolidated Capital Institutional Properties), Purchase and Sale Contract (Consolidated Capital Institutional Properties), Purchase and Sale Contract (Davidson Income Real Estate Lp)

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Utility Contracts. If Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the Property or a group of properties (including the Property) (a "Utility Contract"), or an affiliate of Seller has entered into a Utility Contract, then, at the option of Seller, either (a) Purchaser either shall assume the Utility Contract with respect to the Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the Property from and after the Closing shall be paid to Seller at the Closing and Seller shall remain responsible for payments under the Utility Contract.

Appears in 6 contracts

Samples: Purchase and Sale Contract (Century Properties Fund Xix), Purchase and Sale Contract (Century Properties Fund Xiv), Purchase and Sale Contract (Century Properties Fund Xix)

Utility Contracts. If any Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the its Property or a group of properties (including the such Property) (a "Utility Contract"), or an affiliate of such Seller has entered into a Utility Contract, thensuch Utility Contract shall be identified on the Seller Information Schedule and, at as set forth on the option of SellerSeller Information Schedule, either (a) Purchaser either shall assume the Utility Contract with respect to the such Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the such Property from and after the Closing shall be paid to the applicable Seller at the Closing and such Seller shall remain responsible for payments under the Utility Contract.

Appears in 4 contracts

Samples: Purchase and Sale Contract (Shelter Properties Ii LTD Partnership), Purchase and Sale Contract (Century Properties Fund Xvi), Purchase and Sale Contract (Consolidated Capital Properties Iv)

Utility Contracts. If any Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the its Property or a group of properties (including the such Property) (a "Utility Contract"), or an affiliate of such Seller has entered into a Utility Contract, then, at the option of Seller, either (a) Purchaser either shall assume the Utility Contract with respect to the such Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the such Property from and after the Closing shall be paid to the applicable Seller at the Closing and such Seller shall remain responsible for payments under the Utility Contract.

Appears in 1 contract

Samples: Purchase and Sale Contract (Consolidated Capital Institutional Properties 3)

Utility Contracts. If Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the Property or a group of properties (including the Property) (a "Utility Contract"), or an affiliate of Seller has entered into a Utility Contract, then, at the option of Seller, either (a) Purchaser either shall assume the Utility Contract with respect to the Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the Property from and after the Closing shall be paid to Seller at the Closing and Seller shall remain responsible for payments under the Utility Contract.

Appears in 1 contract

Samples: Purchase and Sale Contract (Consolidated Capital Institutional Properties 3)

Utility Contracts. If Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the Property or a group of properties (including the Property) (a "Utility Contract"), or an affiliate of Seller has entered into a Utility Contract, thensuch Utility Contract shall be identified on the Seller Information Schedule and, at as set forth on the option of SellerSeller Information Schedule, either (a) Purchaser either shall assume the Utility Contract with respect to the Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the Property from and after the Closing shall be paid to Seller at the Closing and Seller shall remain responsible for payments under the Utility Contract.

Appears in 1 contract

Samples: Purchase and Sale Contract (Consolidated Capital Institutional Properties)

Utility Contracts. If Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the Property or a group of properties (including the Property) (a "Utility Contract"), or an affiliate of Seller has entered into a Utility Contract, then, at the option of Seller, either (a) Purchaser either shall assume the Utility Contract with respect to the PropertyProperty if such Utility Contract is assignable, or (b) the reasonably calculated costs of the Utility Contract attributable to the Property from and after the Closing shall be paid to Seller at the Closing and Seller shall remain responsible for payments under the Utility Contract.

Appears in 1 contract

Samples: Purchase and Sale Contract (Davidson Growth Plus Lp)

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Utility Contracts. If Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the Property or a group of properties (including the Property) (a "Utility Contract"), or an affiliate of Seller has entered into a Utility Contract, then, at the option of Seller, either (a) Purchaser either shall assume the Utility Contract with respect to the Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the Property from and after the Closing shall be paid to Seller at the Closing and Seller shall remain responsible for payments under the Utility Contract.

Appears in 1 contract

Samples: Purchase and Sale Contract (Century Properties Growth Fund Xxii)

Utility Contracts. If any Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the its Property or a group of properties (including the such Property) (a "Utility Contract"), or an affiliate of such Seller has entered into a Utility Contract, then, at the option of Seller, either (a) then Purchaser either shall assume the Utility Contract with respect to the such Property, or (b) or, if elected by such Seller, the reasonably calculated costs of the Utility Contract attributable to the such Property from and after the Closing shall be paid to such Seller at the Closing and such Seller shall remain responsible for payments under the Utility Contract.

Appears in 1 contract

Samples: Purchase and Sale Contract (Shelter Properties v Limited Partnership)

Utility Contracts. If any Seller has entered into an agreement for the purchase of electricity, gas or other utility service for the its Property or a group of properties (including the such Property) (a "Utility Contract"), or an affiliate of such Seller has entered into a Utility Contract, thensuch Utility Contract shall be identified on the Seller Information Schedule and, at as set forth on the option of SellerSeller Information Schedule, either (a) Purchaser either shall assume the Utility Contract with respect to the such Property, or (b) the reasonably calculated costs of the Utility Contract attributable to the such Property from and after the Closing shall be paid to the applicable Seller at the Closing and such Seller shall remain responsible for payments under the Utility Contract.

Appears in 1 contract

Samples: Purchase and Sale Contract (Century Properties Growth Fund Xxii)

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