Common use of Utility Provider Clause in Contracts

Utility Provider. Tenant acknowledges that Landlord has an existing utility contract with a term of April 30, 2009 (“Existing Utility Contract”). In the event Tenant elects to exercise the following rights, Tenant shall be responsible for any termination fees or costs of Landlord with respect to Landlord’s Existing Utility Contract. Upon sixty (60) days prior written notice to Landlord, Tenant shall have the right to enter into a direct contract with any provider or supplier of electricity to serve the entire Project. In such event, following such sixty (60) day period, Tenant shall not be obligated to pay any amounts attributable to the supply of electricity pursuant to the Operating Expenses to the extent such direct contract pays all electrical expenses of the Project.