ALLOCATION OF PRODUCTION AND PROCEEDS Sample Clauses

ALLOCATION OF PRODUCTION AND PROCEEDS. All production from oil and/or gas wellx, xxd all proceeds from the sale thereof, including, without limitation, proceeds from any imbalance and oil in storage above the pipeline connection, and take-or-pay collections/rights and accounts receivable attributable to production prior to the Effective Date and all other monetary payments (including, without limitation, proceeds from the sale of mineral production, credits, tax refunds, insurance proceeds, salvage payments and reimbursement of joint operating costs and expenses) attributable to the ownership, use or operation of the PROPERTY prior to the Effective Date shall be the property of SELLER. All such production proceeds,
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ALLOCATION OF PRODUCTION AND PROCEEDS. All production of oil, gas and ----------------------------------------- other minerals from the Interests prior to the Effective Date and all proceeds from the sale of such production shall be the property of Seller. All such production upon and after the Effective Date and all proceeds from the sale thereof shall be the property of Purchaser. Production shall be allocated to the parties based upon the most reliable measurement method or allocation calculation information available to the parties. Purchaser shall assume all rights and/or liabilities of Seller arising from any gas imbalances affecting the Interests as of the Effective Date and thereafter.
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ALLOCATION OF PRODUCTION AND PROCEEDS. All production of oil, gas and other minerals from the Interests prior to the Effective Time, and all proceeds from the sale of such production, shall be the property of Seller. Ail such production upon and after the Effective Time, and all proceeds from the sale thereof, shall be the property of Purchaser. Production shall be allocated to the parties based upon the most reliable measurement method or allocation calculation information available and mutually acceptable to the parties. Purchaser shall pay Seller for oil in inventory above pipeline connection at Mobil Oil Corporation's posted field price for oil of like grade and gravity in the field at the Effective Time. Purchaser shall assume all rights and/or liabilities of Seller arising from any gas imbalances affecting the Interests as of the Effective Time and thereafter. Purchaser shall indemnify, defend, save, discharge, release and hold Seller harmless from any claims for gas imbalances which have accrued prior to the Effective Time. Further, as part of the final accounting provided in Article 19, Seller shall revise the gas imbalances indicated in Exhibit "F" to reflect the actual imbalance volumes as of the Effective Time. The difference between the gas imbalances indicated on Exhibit "D" and the actual gas imbalances as of the Effective Time shall be multiplied by $1.50 per MCF and the aggregate adjustment amount shall be appropriately accounted for in the final settlement.
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ALLOCATION OF PRODUCTION AND PROCEEDS. All production of oil, gas and other minerals from the Interests prior to the Effective Time, and all proceeds from the sale of such production, shall be the property of Seller. All such production upon and after the Effective Time, and all proceeds from the sale thereof, shall be the property of Purchaser. Production shall be allocated to the parties based upon the most reliable measurement method or allocation calculation information available and mutually acceptable to the parties. Purchaser shall pay Seller for oil in inventory above the pipeline connection at the posted field price for oil of like grade and gravity in the field at the Effective Time. Purchaser shall assume all rights and/or liabilities of Seller arising from any gas imbalances affecting the Interests as of the Effective Time and thereafter. Purchaser shall indemnify, defend, save, discharge, release and hold Seller harmless from any claims for gas imbalances which have accrued prior to the Effective Time. Purchaser and Seller agree that the Sale Price shall be adjusted at the Closing to account for gas imbalances affecting the Interests which are set forth in Exhibit "C" hereto. Such adjustment shall be made as follows: (a) Overproduced volumes shall be valued at $1.00 MCF. (b) Underproduced volumes shall be valued at $1.00 MCF. (c) The Sale Price shall be adjusted upward $0 for the underproduced volume as indicated on Exhibit "C", being the product of multiplying such underproduced volume by $1.00 MCF. (d) The Sale Price shall be adjusted downward $0 for the overproduced volume as indicated on Exhibit "C" being the product of multiplying such overproduced volume by $1.00 MCF. Further, as part of the final accounting provided in Article 17, Seller shall revise the gas imbalances indicated in Exhibit "C" to reflect the actual imbalance volumes as of the Effective Time. The difference between the gas imbalances indicated on Exhibit "C" and the actual gas imbalances as of the Effective Time shall be multiplied by the appropriate value per MCF as stated in subsections (a) and (b) of this Article 12 and the aggregate adjustment amount shall be appropriately accounted for in the final settlement.
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ALLOCATION OF PRODUCTION AND PROCEEDS. All production of hydrocarbons from the Interests prior to the Effective Time, and all proceeds from or attributable to the sale of such production, shall be the property of Seller. All such production on and after the Effective Time, and all proceeds from or attributable to the sale thereof, shall be the property of Purchaser. Production shall be allocated to the parties based upon the most reliable measurement method or allocation calculation information available and mutually acceptable to the parties. Any amount received by Purchaser after the Effective Time attributable to the sale of hydrocarbons produced prior to the Effective Time shall be paid to Seller by Purchaser; and any amount received by Seller after the Effective Time attributable to the sale of hydrocarbons produced on and after the Effective Time shall be paid to Purchaser by Seller.
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ALLOCATION OF PRODUCTION AND PROCEEDS. All production of oil, gas and other minerals from the Interests prior to the Effective Time, and all proceeds from the sale of such production, shall be the property of Seller. All such production upon and after the Effective Time, and all proceeds from the sale thereof, shall be the property of Purchaser. Production shall be allocated to the parties based upon the most reliable measurement method or allocation calculation information available and mutually acceptable to the parties. Except as set forth below, Purchaser shall assume all rights of Seller arising from any imbalances affecting the Interests that result in the Interests being underproduced as of the Effective Time and thereafter. Purchaser and Seller agree that the Sale Price shall be adjusted at the Closing to account for gas imbalances affecting the Interests which are set forth in Exhibit
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ALLOCATION OF PRODUCTION AND PROCEEDS. All production of oil, gas and other minerals from the Property prior to the Effective Date, and all proceeds from the sale of such production prior to the Effective Date, shall be the property of Seller. All such production on and after the Effective Date, and all proceeds from the sale thereof, shall be the property of Buyer. The oil storage facilities serving the Property shall be gauged on the Effective Date. A representative of the Buyer and Seller shall meet at each of the oil storage facilities related to the Property commencing at 8:30 a.m., Central Time, on the Closing Date to gauge the oil inventory. As part of the Closing Settlement Statement, Seller shall receive credit for the value of inventory in the tanks as of the Effective Date based upon the price paid by the purchaser for that date. The value of the inventory on the Effective Date shall be as determined utilizing the price paid by each Purchaser..
Sample 1
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ALLOCATION OF PRODUCTION AND PROCEEDS. All production from oil and/or gas wells, and all proceeds from xxx sale thereof, including, without limitation, proceeds from any imbalance and oil in storage above the pipeline connection, and take-or-pay collections/rights and accounts receivable attributable to production prior to the Effective Date and all other monetary payments (including, without limitation, proceeds from the sale of mineral production, credits, tax refunds, insurance proceeds, salvage payments and reimbursement of joint operating costs and expenses) attributable to the ownership, use or operation of the PROPERTY prior to the Effective Date shall be the property of SELLER. All such above described production proceeds, and other monetary payments attributable to production on and after the Effective Date shall be the property of PURCHASER.
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Related to ALLOCATION OF PRODUCTION AND PROCEEDS

  • Allocation of Profits Profits for any Year shall be allocated in the following order and priority: (i) First, to any Partner who was allocated Losses after the Capital Account of any other Partner was reduced to zero (0), to the extent of such Losses; provided, however, that in the event that the foregoing applies to more than one Partner, to those Partners pro rata according to the amount of such Losses allocated to each; and (ii) Second, to the Partners in accordance with their relative Percentage Interests.

  • Allocation of Proceeds If an Event of Default exists, all payments received by the Administrative Agent (or any Lender as a result of its exercise of remedies permitted under Section 3.3) under any of the Loan Documents, in respect of any Guaranteed Obligations shall be applied in the following order and priority: (a) to payment of that portion of the Guaranteed Obligations constituting fees, indemnities, expenses and other amounts, including attorney fees, payable to the Administrative Agent in its capacity as such, the Issuing Bank in its capacity as such and the Swingline Lender in its capacity as such, ratably among the Administrative Agent, the Issuing Bank and Swingline Lender in proportion to the respective amounts described in this clause (a) payable to them; (b) to payment of that portion of the Guaranteed Obligations constituting fees, indemnities and other amounts (other than principal and interest) payable to the Lenders under the Loan Documents, including attorney fees, ratably among the Lenders in proportion to the respective amounts described in this clause (b) payable to them; (c) to the payment of that portion of the Guaranteed Obligations constituting accrued and unpaid interest on the Swingline Loans; (d) to payment of that portion of the Guaranteed Obligations constituting accrued and unpaid interest on the Loans and Reimbursement Obligations, ratably among the Lenders and the Issuing Bank in proportion to the respective amounts described in this clause (d) payable to them; (e) to the payment of that portion of the Guaranteed Obligations constituting unpaid principal of the Swingline Loans; (f) to payment of that portion of the Guaranteed Obligations constituting unpaid principal of the Loans, Reimbursement Obligations, other Letter of Credit Liabilities and payment obligations then owing under Specified Derivatives Contracts, ratably among the Lenders, the Issuing Bank, and the Specified Derivatives Providers and in proportion to the respective amounts described in this clause (f) payable to them; provided, however, to the extent that any amounts available for distribution pursuant to this clause are attributable to the issued but undrawn amount of an outstanding Letter of Credit, such amounts shall be paid to the Administrative Agent for deposit into the Letter of Credit Collateral Account; and (g) the balance, if any, after all of the Guaranteed Obligations have been paid in full, to the Borrower or as otherwise required by Applicable Law. Notwithstanding the foregoing, Guaranteed Obligations arising under Specified Derivatives Contracts shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Specified Derivatives Provider, as the case may be. Each Specified Derivatives Provider not a party to this Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article XII for itself and its Affiliates as if a “Lender” party hereto.

  • Allocation of Profit and Loss Section 5.01 of the Partnership Agreement is hereby deleted in its entirety and the following new Section 5.01 is inserted in its place:

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • Allocations of Profits and Losses Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of income, gain or loss or deduction of the Partnership) shall be allocated in a manner such that the Capital Account of each Partner after giving effect to the Special Allocations set forth in Section 5.05 is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made pursuant to Article IV if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Partnership liabilities were satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Partnership were distributed to the Partners pursuant to this Agreement, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. For purposes of this Article V, each Unvested Unit shall be treated as a Vested Unit. Notwithstanding the foregoing, the General Partner shall make such adjustments to Capital Accounts as it determines in its sole discretion to be appropriate to ensure allocations are made in accordance with a partner’s interest in the Partnership.

  • Allocation of Profit or Loss All Profit or Loss shall be allocated to the Member.

  • Allocation of Costs The Fund shall pay the cost of composition and printing of sufficient copies of its Prospectus and SAI as shall be required for periodic distribution to its shareholders and the expense of registering Shares for sale under federal securities laws. You shall pay the expenses normally attributable to the sale of Shares, other than as paid under the Fund's Distribution Plan under Rule 12b-1 of the 1940 Act, including the cost of printing and mailing of the Prospectus (other than those furnished to existing shareholders) and any sales literature used by you in the public sale of the Shares and for registering such shares under state blue sky laws pursuant to paragraph 8.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Allocation of Charges There will not be any agreement or understanding between the Servicer and the Borrower (other than as expressly set forth herein or as consented to by the Administrative Agent), providing for the allocation or sharing of obligations to make payments or otherwise in respect of any Taxes, fees, assessments or other governmental charges; provided that it is understood and acknowledged that the Borrower will be consolidated with or treated as a disregarded entity of the Servicer for tax purposes.

  • Allocations of Net Profits and Net Losses Except as otherwise set forth herein, Net Profits and Net Losses shall be allocated for each Fiscal Year to the Members in proportion to their respective Capital Accounts.

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