Common use of Items for Which There Will Not be a Proration Clause in Contracts

Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) other than pursuant to Xxxxxxx 0, xxxx of the insurance policies relating to the Property will be assigned to Buyer, and Buyer shall be responsible for arranging for its own insurance as of the Closing Date; and (b) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer beginning 12:01 A.M. Mountain time on the Closing Date, including the posting of any required deposits. Accordingly, there will be no prorations for insurance or utilities (unless, with respect to a 3721766.8 -20- Gardere01 - 10003657v.4 particular utility, (i) a meter reading is unavailable, in which case such utility shall be prorated in the manner provided in Section 6.4.11 above; or (ii) the Title Company reasonably requires it), and Seller shall be entitled to any refund in connection with termination of Seller’s existing insurance policies. To the extent reasonably possible, Buyer and Seller shall cooperate to arrange for utility and other service providers to separately xxxx each party for their respective periods of ownership, in which event no credit and no proration will be necessary. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies, or will receive a credit at Closing from Buyer to the extent such deposits remain for the benefit of Buyer from and after Closing.

Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) other than pursuant to Xxxxxxx 0, xxxx of the insurance policies relating to the a Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Closing Date; and (b) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer beginning 12:01 A.M. Mountain a.m. Pacific time on the Closing Date. All deposits of Seller made for utilities, including maintenance or service contracts, licenses, or otherwise, shall be credited to Seller at Closing and the posting of any required depositsparties shall arrange to have all such accounts and deposits transferred to Buyer at Closing. Accordingly, there will be no prorations for insurance or utilities (unlessutilities, with respect to a 3721766.8 -20- Gardere01 - 10003657v.4 particular utility, (i) unless a meter reading is unavailableunavailable for any particular utility, in which case then such utility shall be prorated in the manner provided in Section 6.4.11 above; or (ii) the Title Company reasonably requires it5.3.1(d), and Seller shall be entitled to any refund in connection with termination of Seller’s existing insurance policies. To the extent reasonably possible, Buyer and Seller shall cooperate to arrange for utility and other service providers to separately xxxx each party for their respective periods of ownership, in which event no credit and no proration will be necessary. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies, or will receive a credit at Closing from Buyer to the extent such deposits remain for the benefit of Buyer from and after Closing.

Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) other than pursuant to Xxxxxxx 0Section 8, xxxx none of the insurance policies relating to the Property will be assigned wixx xx xxxxxxxx to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Closing Date; and (b) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer beginning 12:01 A.M. Mountain a.m. Pacific time on the Closing Date, including the posting of any required deposits. Accordingly, there will be no prorations for insurance or utilities (unlessutilities, with respect to a 3721766.8 -20- Gardere01 - 10003657v.4 particular utility, (i) unless a meter reading is unavailableunavailable for any particular utility, in which case then such utility shall be prorated in the manner provided in Section 6.4.11 7I above; or (ii) the Title Company reasonably requires it), and Seller shall be entitled to any refund in connection with termination of Seller’s existing insurance policies. To the extent reasonably possible, Buyer and Seller shall cooperate to arrange for utility and other service providers to separately xxxx bill each party for their respective periods of ownership, in which event exxxx no credit and no proration will be necessary. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies, or will receive a credit at Closing from Buyer to the extent such deposits remain for the benefit of Buyer from and after Closingare transferred to Buyer's account.

Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) other than pursuant to Xxxxxxx 0, xxxx of the insurance policies relating to the Property will be assigned to Buyer, and Buyer shall be responsible for arranging for its own insurance as of the Closing Date; and (b) utilities, including telephone, electricity, water and gas, shall be read on the Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer beginning 12:01 A.M. Mountain time on the Closing Date, including the posting of any required deposits. Accordingly, there will be no prorations for insurance or utilities (unless, with respect to a 3721766.8 -20- Gardere01 - 10003657v.4 particular utility, (i) a meter reading is unavailable, in which case such utility shall be prorated in the manner provided in Section 6.4.11 6.4.7 above; or (ii) the Title Company reasonably requires it), and Seller shall be entitled to any refund in connection with termination of Seller’s existing insurance policies. To the extent reasonably possible, Buyer and Seller shall cooperate to arrange for utility and other service providers to separately xxxx each party for their respective periods of ownership, in which event no credit and no proration will be necessary. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies, or will receive a credit at Closing from Buyer to the extent such deposits remain for the benefit of Buyer from and after Closingare not remitted to Seller.

Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) other than pursuant to Xxxxxxx 0, xxxx none of the insurance policies relating to the Property Golf Club will be assigned to Buyer, and Buyer shall be responsible for arranging for its own insurance as of the Closing Date; and (b) utilities, including telephone, electricity, water and gas, shall be read terminated as to Seller’s account on the Closing Date Date, and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to and continued in the name of Buyer beginning 12:01 A.M. Mountain time on the Closing Date, including the posting of any required deposits. Accordingly, there will be no prorations for insurance or utilities (unlessutilities, with respect to a 3721766.8 -20- Gardere01 - 10003657v.4 particular utility, (i) unless a meter reading is unavailableunavailable for any particular utility, in which case then such utility shall be prorated in the manner provided in Section 6.4.11 29 above; or (ii) the Title Company reasonably requires it), and Seller shall be entitled to any refund in connection with termination of Seller’s existing insurance policies. To the extent reasonably possible, Buyer and Seller shall cooperate to arrange for utility and other service providers to separately xxxx each party for their respective periods of ownership, in which event no credit and no proration will be necessary. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies, companies or will receive a credit at Closing from Buyer to the extent such deposits remain for the benefit of Buyer from and after Closingmay be transferred to Buyer’s account.