Common use of Allocation of Income and Costs Clause in Contracts

Allocation of Income and Costs. Subject to the effective percentage amounts and times set forth on Exhibit A: (i) Buyer shall be entitled to all revenues, production, proceeds, income, and products from or attributable to the Assets from and after the applicable Specified Date with respect thereto, and to all other income, proceeds, receipts, and credits earned (including delay rentals, shut-in royalties, and lease bonuses) with respect to the Assets on or after the applicable Specified Date with respect thereto, and shall be responsible for (and entitled to any refunds and indemnities with respect to) all Property Costs incurred with respect to the Assets from and after the applicable Specified Date with respect thereto; and (ii) except as expressly set forth to the contrary herein, Seller shall be entitled to all revenues, production, proceeds, income, and products from or attributable to the Assets prior to the applicable Specified Date with respect thereto, and to all other income, proceeds, receipts, and credits earned (including delay rentals, shut-in royalties, and lease bonuses), and to all joint interest audit exceptions, with respect to the Assets prior to applicable Specified Date with respect thereto, and shall be responsible for (and entitled to any refunds and indemnities with respect to) all Property Costs incurred with respect to the Assets prior to the applicable Specified Date with respect thereto. For the avoidance of doubt, Buyer will be entitled to all amounts set forth in clause (i) above from the Assets and will be responsible for Property Costs, in each case in proportion to the percentages set forth on Exhibit A as of the applicable dates set forth therein.

Allocation of Income and Costs. Subject If the Closing occurs, subject to the effective percentage amounts and times set forth on Exhibit A: (i) Buyer shall be entitled to all revenues, production, proceeds, income, and products from or attributable to the Assets from and after the applicable Specified Date with respect thereto, and to all other income, proceeds, receipts, and credits earned (including delay rentals, shut-in royalties, and lease bonuses) with respect to the Assets on or after the applicable Specified Date with respect thereto, and shall be responsible for (and entitled to any refunds and indemnities with respect to) all Property Costs incurred with respect to the Assets from and after the applicable Specified Date with respect thereto; and (ii) except as expressly set forth to the contrary herein, Seller shall be entitled to all revenues, production, proceeds, income, and products from or attributable to the Assets prior to the applicable Specified Date with respect thereto, and to all other income, proceeds, receipts, and credits earned (including delay rentals, shut-in royalties, and lease bonuses), and to all joint interest audit exceptions, with respect to the Assets prior to applicable Specified Date with respect thereto, and shall be responsible for (and entitled to any refunds and indemnities with respect to) all Property Costs incurred with respect to the Assets prior to the applicable Specified Date with respect thereto. For the avoidance of doubt, Buyer will be entitled to all amounts set forth in clause (i) above from the Assets and will be responsible for Property Costs, in each case in proportion to the percentages set forth on Exhibit A as of the applicable dates set forth therein.