Utility Meter Readings Clause Samples
The Utility Meter Readings clause establishes the procedures for recording and verifying the consumption of utilities such as electricity, water, or gas at a property. Typically, it outlines when and how meter readings should be taken, who is responsible for conducting or witnessing the readings, and how the data will be used for billing or settlement purposes. This clause ensures accurate allocation of utility costs between parties, prevents disputes over usage, and provides a clear record for reference at the start and end of occupancy or service periods.
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Utility Meter Readings. Seller shall obtain readings of the water, electric, gas and other utility meters servicing the Real Property (other than meters measuring exclusively utility consumption which is to be paid in full by tenants under Leases) to a date no sooner than two (2) days prior to the Closing Date. At or prior to Closing, Seller shall pay all charges based upon such meter readings, adjusted to include a reasonable estimate of the additional charges due for the period from the dates of the respective readings until the Closing Date. If Seller is unable to obtain readings of any meters prior to the Closing Date, Closing shall be completed without such readings and upon the obtaining thereof, Seller shall pay the charges incurred prior to the Closing Date as reasonably determined by both Buyer and Seller based upon such readings, and at Closing, Seller shall deposit with the Title Company an amount reasonably estimated to represent the anticipated obligation of Seller under this sentence.
Utility Meter Readings. At Closing, the Owners shall pay all charges for the water, electric, gas and other utility meters servicing the Premises (other than meters measuring exclusively utility consumption which is to be paid in full by tenants under Leases) apportioned on the basis of the prior month's readings. When the charges for the month during which Closing occurs are ascertained, the parties shall make any necessary post-Closing adjustments. The apportionment of items of expense and income for tenant contributions on account of utilities shall be handled in the same manner as items of expense and income for tenant contributions for common area maintenance are handled as described in subparagraph 7(a)(v) above.
Utility Meter Readings. The parties shall endeavor to have the respective utilities read the Property meters on the Closing Date, ▇▇▇▇ Seller for charges up to that reading, and ▇▇▇▇ Buyer for charges after that reading (except to the extent such charges are to be paid by Seller pursuant to the Lease). If the parties are unable to do so the following shall apply: Seller shall obtain final readings of the water, electric, gas and other utility meters servicing the Property as of the day prior to the Closing Date. At or prior to Closing, Seller shall pay all charges based upon such meter readings, adjusted to include a reasonable estimate of the additional charges due for the period from the dates of the respective readings until the Closing Date. If Seller is unable to obtain readings of any meters prior to the Closing Date, Closing shall be completed without such readings and upon the obtaining thereof, Seller shall pay the charges incurred prior to the Closing Date as reasonably determined based upon such readings. Buyer shall be responsible for all utility charges of the Property incurred on and after the Closing Date (except to the extent such charges are to be paid by Seller pursuant to the Lease).
Utility Meter Readings. Utilities which will (a) make a special meter reading on or close to the Closing Date and a final billing to Seller through such date and (b) not charge or be entitled to charge Buyer or lien the Property if Seller fails to pay such final billing, shall be closed out to Seller through such final billing process rather than apportioned. Seller shall arrange for such meter readings and ▇▇▇▇▇▇▇▇ by such utilities and shall pay all such ▇▇▇▇▇▇▇▇ by the dates due. Buyer shall have such utilities transferred to its name for service after the Closing. Charges for utilities not meeting the foregoing criteria shall be apportioned as provided in Section 16.2.2.
Utility Meter Readings. Seller shall use reasonable efforts to obtain readings of the water, electric, gas and other utility meters servicing the Real Property to a date no sooner than five (5) days prior to the Closing Date. At or prior to Closing, Seller shall pay all charges based upon such meter readings, adjusted to include a reasonable estimate of the additional charges due for the period from the dates of the respective readings until the Closing Date. If Seller is unable to obtain readings of any meters prior to the Closing Date, Closing shall be completed without such readings and upon the obtaining thereof, Seller shall pay to Buyer the charges incurred prior to the Closing Date.
Utility Meter Readings. Seller shall obtain readings of the water, electric, gas and other utility meters servicing the Real Property (other than meters measuring exclusively utility consumption which is to be paid in full by tenants under Tenant Leases) to a date no sooner than two (2) business days prior to the Closing Date. At or prior to Closing, Seller shall pay all charges based upon such meter readings, adjusted to include a reasonable estimate of the additional charges due for the period from the dates of the respective readings until the Closing Date. If Seller is unable to obtain readings of any meters prior to the Closing Date, Closing shall be completed without such readings and upon the obtaining thereof, Seller shall pay the charges incurred prior to the Closing Date as reasonably determined by Buyer and Seller based upon such readings. If Seller is unable to obtain readings of any meters prior to the Closing Date, Closing shall be completed without such readings and within five (5) business days after the obtaining thereof, Seller shall pay the charges incurred prior to the Closing Date as reasonably determined by Buyer based upon such readings. This Section shall survive Closing and recordation of the Deed