Common use of Cash and Utility Deposits Clause in Contracts

Cash and Utility Deposits. All cash on hand, escrow and reserve accounts of the Seller, utility or other deposits made by the Seller (other than tenant security deposits and other deposits), accounts receivable and accounts payable, indebtedness or liabilities for the period prior to the Closing Date shall remain the property or responsibility, as applicable, of the Seller. The Seller shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property through and including the day preceding the Closing Date in its capacity as Seller hereunder, and Seller shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property from and including the Closing Date in its capacity as the tenant under the Lease.

Appears in 1 contract

Samples: Asset Purchase Agreement (CNL Income Properties Inc)

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Cash and Utility Deposits. All cash on hand, escrow and reserve accounts of the Seller, utility or other deposits made by the Seller (other than tenant security deposits and other deposits), accounts receivable and accounts payable, indebtedness or liabilities for the period prior to the Closing Date shall remain the property or responsibility, as applicable, of the Seller. The Seller shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property Assets through and including the day preceding the Closing Date in its capacity as Seller hereunder, and Seller Purchaser shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property Assets from and including the Closing Date in its capacity as (subject to the tenant terms and conditions under the LeaseOperating Leases).

Appears in 1 contract

Samples: Asset Purchase Agreement (CNL Income Properties Inc)

Cash and Utility Deposits. All cash on hand, escrow and reserve accounts of the Seller, utility or other deposits made by the Seller (other than tenant security deposits and other deposits)Seller, accounts receivable and accounts payable, indebtedness or liabilities for the period prior to the Closing Date shall remain the property or responsibility, as applicable, of the Seller. The Seller shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property Assets through and including the day preceding the Closing Date in its capacity as Seller hereunder, and Seller or its affiliate shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property Assets from and including the Closing Date in its capacity as the tenant Tenant under the Lease.

Appears in 1 contract

Samples: Purchase and Sale Agreement (CNL Income Properties Inc)

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Cash and Utility Deposits. All cash on hand, escrow and reserve accounts of the Seller, utility or other deposits made by the Seller (other than tenant security deposits and other deposits), accounts receivable and accounts payable, indebtedness or liabilities for the period prior to the Closing Date shall remain the property or responsibility, as applicable, of the Seller. The Seller shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property through and including the day preceding the Closing Date in its capacity as Seller hereunder, and Seller Operating Lessee shall be responsible for the payment of all expenses on account of services and supplies furnished to and for the benefit of the Real Property from and including the Closing Date in its capacity as the tenant under the LeaseOperating Leases.

Appears in 1 contract

Samples: Asset Purchase Agreement (CNL Income Properties Inc)

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