Common use of Utility Service Clause in Contracts

Utility Service. To the extent commercially reasonable and practicable, the Sellers and Purchaser shall obtain ▇▇▇▇▇▇▇▇ and meter readings as of the Business Day preceding the Closing Date to aid in the proration of charges for gas, electricity and other utility services which are not the direct responsibility of Tenants. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are obtained, adjustments for any costs, expenses, charges or fees shown thereon shall be made in accordance with such ▇▇▇▇▇▇▇▇ or meter readings. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are not available for a utility service, the charges therefor shall be adjusted at the Closing on the basis of the per diem charges for the most recent prior period for which bills were issued and shall be further adjusted at the Final Closing Adjustment on the basis of the actual bills for the period in which the Closing takes place. Each Property’s Seller shall receive a credit at Closing for the Utility Deposits, if any, that are transferred or made available to Purchaser and that are held by applicable utility companies for the account of such Seller in respect of services provided to such Seller’s Property or Properties. Purchaser shall arrange for placing all utility services and bills in its own name as of the Closing Date.

Appears in 8 contracts

Sources: Purchase and Sale Agreement (Washington Real Estate Investment Trust), Purchase and Sale Agreement (Washington Real Estate Investment Trust), Purchase and Sale Agreement (Washington Real Estate Investment Trust)

Utility Service. To the extent commercially reasonable and practicable, the Sellers Seller and Purchaser shall obtain ▇▇▇▇▇▇▇▇ and meter readings as of the Business Day preceding the Closing Date to aid in the proration of charges for gas, electricity and other utility services which are not the direct responsibility of Tenants. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are obtained, adjustments for any costs, expenses, charges or fees shown thereon shall be made in accordance with such ▇▇▇▇▇▇▇▇ or meter readings. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are not available for a utility service, the charges therefor shall be adjusted at the Closing on the basis of the per diem charges for the most recent prior period for which bills were issued and shall be further adjusted at the Final Closing Adjustment on the basis of the actual bills for the period in which the Closing takes place. Each Property’s Seller shall receive a credit at Closing for the Utility Deposits, if any, that are transferred or made available to Purchaser and that are held by applicable utility companies for the account of such Seller in respect of services provided to such Seller’s Property or Propertiesthe Property. Purchaser shall arrange for placing all utility services and bills in its own name as of the Closing Date.

Appears in 2 contracts

Sources: Purchase and Sale Agreement (Washington Real Estate Investment Trust), Purchase and Sale Agreement (Washington Real Estate Investment Trust)

Utility Service. To the extent commercially reasonable and practicable, the Sellers and Purchaser shall obtain ▇▇▇▇▇▇▇▇ and meter readings as of the Business Day preceding the Closing Date to aid in the proration of charges for gas, electricity and other utility services which are not the direct responsibility of Tenants. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are obtained, adjustments for any costs, expenses, charges or fees shown thereon shall be made in accordance with such ▇▇▇▇▇▇▇▇ or meter readings. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are not available for a utility service, the charges therefor shall be adjusted at the Closing on the basis of the per diem charges for the most recent prior period for which bills were issued and shall be further adjusted at the Final Closing Adjustment on the basis of the actual bills for the period in which the Closing takes place. Each Property’s Seller shall receive a credit at Closing for the Utility Deposits, if any, that are ACTIVE/85729224.2 transferred or made available to Purchaser and that are held by applicable utility companies for the account of such Seller in respect of services provided to such Seller’s Property or Properties. Purchaser shall arrange for placing all utility services and bills in its own name as of the Closing Date.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Washington Real Estate Investment Trust)

Utility Service. To the extent commercially reasonable and practicable, the Sellers and Purchaser shall obtain ▇▇▇▇▇▇▇▇ and meter readings as of the Business Day preceding the Closing Date to aid in the proration of charges for gas, electricity and other utility services which are not the direct responsibility of Tenants. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are obtained, adjustments for any costs, expenses, charges or fees shown thereon shall be made in accordance with such ▇▇▇▇▇▇▇▇ or meter readings. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are not available for a utility service, the charges therefor shall be adjusted at the Closing on the basis of the per diem charges for the most recent prior period for which bills were issued and shall be further adjusted at the Final Closing Adjustment on the basis of the actual bills for the period in which the Closing takes place. Each Property’s Seller shall receive a credit at Closing for the Utility Deposits, if any, that are transferred or made available to Purchaser and that are held by applicable utility companies for the account of such Seller in respect of services provided to such Seller’s Property or Properties. Purchaser shall arrange for placing all utility services and bills in its own name as of the Closing Date.. WRIT Industrial I

Appears in 1 contract

Sources: Purchase and Sale Agreement (Washington Real Estate Investment Trust)

Utility Service. To the extent commercially reasonable and practicable, the Sellers and Purchaser shall obtain ▇▇▇▇▇▇▇▇ and meter readings as of the Business Day preceding the Closing Date to aid in the proration of charges for gas, electricity and other utility services which are not the direct responsibility of Tenants. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are obtained, adjustments for any costs, expenses, charges or fees shown thereon shall be made in accordance with such ▇▇▇▇▇▇▇▇ or meter readings. If such ▇▇▇▇▇▇▇▇ or meter readings as of the Business Day preceding the Closing Date are not available for a utility service, the charges therefor shall be adjusted at the Closing on the basis of the per diem charges for the most recent prior period for which bills were issued and shall be further adjusted at the Final Closing Adjustment on the basis of the actual bills for the period in which the Closing takes place. Each Property’s Seller shall receive a credit at Closing for the Utility Deposits, if any, that are transferred or made available to Purchaser and that are held by applicable utility companies for the account of such Seller in respect of services provided to such Seller’s Property or Properties. Purchaser shall arrange for placing all utility services and bills in its own name as of the Closing Date.. WRIT Industrial III

Appears in 1 contract

Sources: Purchase and Sale Agreement (Washington Real Estate Investment Trust)