Common use of Allocation of Revenues Clause in Contracts

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues for periods commencing on and after December 1, 2000, shall be for the account of and belong to Transferee. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee which has become, or which may become, due and payable with respect to any period of time after November 30, 2000, or which may arise from any act, event or circumstance which occurred after that date, then Transferor agrees to hold such amount in trust for the benefit of the Transferee and promptly to deliver said amount to Transferee; and (ii) if Transferee shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000, then Transferee agrees to hold such amount in trust for the benefit of Transferor and promptly to deliver said amount to Transferor. If Cronos U.K. determines in its final reconciliation for periods ended on or prior to November 30, 2000, that Transferor has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. any amount for such periods (any such excess or debt being referred to as a "Deficiency"), and Cronos U.K. asserts against or attempts to collect from Transferee any such Deficiency, through offset or otherwise, then Transferor or if, at such time, Transferor has dissolved or liquidated, Cronos shall, upon demand by Transferee, pay such Deficiency to Cronos U.K. or reimburse Transferee if and to the extent such Deficiency is paid by or assessed against Transferee.

Allocation of Revenues. (a) The parties further acknowledge that the Purchase Price has been determined based on an agreement that all Net Revenues of the Containers accrued for the quarter-annual periods commencing on and after October 1 through December 31, 2006, are for the sole account of Buyer. Accordingly, all Net Revenues accrued for all periods prior to October 1, 20002006, shall be for the account of and belong to TransfereeSeller, and all Net Revenues accrued for all periods commencing on and after October 1, 2006, shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after November 30October 1, 20002006, or which may arise from any act, event or circumstance which occurred after that date, then Transferor Seller agrees to hold such amount in trust for the benefit of the Transferee Buyer and promptly to deliver said amount to TransfereeBuyer at Closing, if received on or before the Closing, or promptly after receipt if received by Seller after the Closing; and (ii) if Transferee Buyer shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December October 1, 20002006, then Transferee Buyer agrees to hold such amount in trust for the benefit of Transferor Seller and promptly to deliver said amount to TransferorSeller. If Cronos U.K. determines in its final reconciliation for periods any period ended on or prior to November 30October 1, 20002006, that Transferor Seller has received pursuant to the Prior Management Lease Agreements an excess distribution or otherwise owes Cronos U.K. any amount for such periods any period (any such excess or debt being referred to as a "“Deficiency"”), and Cronos U.K. asserts against or attempts to collect from Transferee Buyer any such Deficiency, through offset or otherwise, then Transferor or if, at such time, Transferor has dissolved or liquidated, Cronos Seller shall, upon demand by TransfereeBuyer, pay such Deficiency to Cronos U.K. or reimburse Transferee Buyer if and to the extent such Deficiency is paid by or assessed against TransfereeBuyer. Buyer has no obligation to pay any such Deficiency, and agrees to notify Seller of any such demand by Cronos prior to paying the same, if it should elect to do so.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods commencing on and after December 1, 2000, prior to the Closing Date shall be for the account of and belong to TransfereeSeller and that all Net Revenues accrued for all periods commencing on and after the Closing Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after November 30, 2000the Closing Date, or which may arise from any act, event or circumstance which occurred after that date, then Transferor Seller agrees to hold such amount in trust for the benefit of the Transferee Buyer and promptly to deliver said amount to TransfereeBuyer; and (ii) if Transferee Buyer shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000the Closing Date, then Transferee Buyer agrees to hold such amount in trust for the benefit of Transferor Seller and promptly to deliver said amount to TransferorSeller. If Cronos U.K. CCL determines in its final reconciliation for periods ended on or prior to November 30August 31, 20002005, that Transferor Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. CCL any amount for such periods (any such excess or debt being referred to as a "“Deficiency"”), and Cronos U.K. CCL asserts against or attempts to collect from Transferee Buyer any such Deficiency, through offset or otherwise, then Transferor Seller or if, at such time, Transferor Seller has dissolved or liquidated, Cronos CCC shall, upon demand by TransfereeBuyer, pay such Deficiency to Cronos U.K. CCL or reimburse Transferee Buyer if and to the extent such Deficiency is paid by or assessed against TransfereeBuyer.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues for all periods commencing on and after December 1, 2000, prior to the Closing Date shall be for the account of and belong to TransfereeSeller and that all Net Revenues for all periods commencing on and after the Closing Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after November 30, 2000the Closing Date, or which may arise from any act, event or circumstance which occurred after that date, then Transferor Seller agrees to hold such amount in trust for the benefit of the Transferee Buyer and promptly to deliver said amount to TransfereeBuyer; and (ii) if Transferee Buyer shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000the Closing Date, then Transferee Buyer agrees to hold such amount in trust for the benefit of Transferor Seller and promptly to deliver said amount to TransferorSeller. If Cronos U.K. CCL determines in its final reconciliation for periods ended on or prior to November 30August 31, 20002005, that Transferor Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. CCL any amount for such periods (any such excess or debt being referred to as a "“Deficiency"”), and Cronos U.K. CCL asserts against or attempts to collect from Transferee Buyer any such Deficiency, through offset or otherwise, then Transferor Seller or if, at such time, Transferor Seller has dissolved or liquidated, Cronos CCC shall, upon demand by TransfereeBuyer, pay such Deficiency to Cronos U.K. CCL or reimburse Transferee Buyer if and to the extent such Deficiency is paid by or assessed against TransfereeBuyer.

Allocation of Revenues. Seller shall own and receive (aor receive credit in the Closing Statement or the Final Settlement Statement, as applicable, for) The parties acknowledge that all Net Revenues for proceeds from the processing or sale of Hydrocarbons allocable to the Assets prior to the Effective Time, and shall also receive (or receive credit in the Closing Statement or the Final Settlement Statement, as applicable, for) and hold the right to receive all other revenues, proceeds and benefits attributable to the Assets relating to all periods commencing on before the Effective Time. Buyer shall receive (or receive credit in the Closing Statement or the Final Settlement Statement, as applicable, for) all proceeds from the processing or sale of Hydrocarbons from and after December 1the Effective Time and shall also receive (or receive credit in the Closing Statement or the Final Settlement Statement, 2000as applicable, shall be for for) and hold the account of right to receive all other revenues, proceeds and belong benefits attributable to Transferee. the Assets which relate to all periods from and after the Effective Time. If, within ninety (b90) Except as otherwise provided in days after the Closing Date, Buyer discovers that proceeds and revenues allocable to Buyer pursuant to this Section 3.033.1 have been paid to Seller for which credit was not made in the Closing Statement and the amount owed to Buyer exceeds Fifty Thousand Dollars ($50,000) in the aggregate, (i) Buyer may provide written notice to Seller detailing the amount owed and if Transferor shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee which has become, or which may become, due and payable with respect to any period of time after November 30, 2000, or which may arise from any act, event or circumstance which occurred after that date, then Transferor agrees to hold such amount in trust for the benefit of the Transferee and promptly is due to deliver said amount to Transferee; and (ii) if Transferee shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000, then Transferee agrees to hold such amount in trust for the benefit of Transferor and promptly to deliver said amount to Transferor. If Cronos U.K. determines in its final reconciliation for periods ended on or prior to November 30, 2000, that Transferor has received Buyer pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. any terms of this Agreement, Seller shall pay to Buyer the full amount owed, such payment to be made promptly following Seller’s verification thereof. If, within ninety (90) days after the Closing Date, Seller discovers that proceeds and revenues allocable to Seller pursuant to this Section 3.1 have been paid to Buyer for which credit was not made in the Closing Statement and the amount owed to Seller exceeds Fifty Thousand Dollars ($50,000) in the aggregate, Seller may provide written notice to Buyer detailing the amount owed and if such periods (any amount is due to Seller pursuant to this section 3.1, Buyer shall pay to Seller the full amount owed, such excess or debt being referred payment to as a "Deficiency"), and Cronos U.K. asserts against or attempts to collect from Transferee any such Deficiency, through offset or otherwise, then Transferor or if, at such time, Transferor has dissolved or liquidated, Cronos shall, upon demand by Transferee, pay such Deficiency to Cronos U.K. or reimburse Transferee if and to the extent such Deficiency is paid by or assessed against Transfereebe made promptly following Buyer’s verification thereof.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues for periods commencing on and after December 1, 2000, shall be for the account of and belong to Transferee. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee which has become, or which may become, due and payable with respect to any period of time after November 30, 2000, or which may arise from any act, event or circumstance which occurred after that date, then Transferor agrees to hold such amount in trust 2 <PAGE> 7 for the benefit of the Transferee and promptly to deliver said amount to Transferee; and (ii) if Transferee shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000, then Transferee agrees to hold such amount in trust for the benefit of Transferor and promptly to deliver said amount to Transferor. If Cronos U.K. determines in its final reconciliation for periods ended on or prior to November 30, 2000, that Transferor has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. any amount for such periods (any such excess or debt being referred to as a "Deficiency"), and Cronos U.K. asserts against or attempts to collect from Transferee any such Deficiency, through offset or otherwise, then Transferor or if, at such time, Transferor has dissolved or liquidated, Cronos shall, upon demand by Transferee, pay such Deficiency to Cronos U.K. or reimburse Transferee if and to the extent such Deficiency is paid by or assessed against Transferee.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods commencing on and after December 1, 2000, prior to the Effective Date shall be for the account of and belong to TransfereeSeller and that all Net Revenues accrued for all periods commencing on and after the Effective Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after November 30, 2000the Effective Date, or which may arise from any act, event or circumstance which occurred after that date, then Transferor Seller agrees to hold such amount in trust for the benefit of the Transferee Buyer and promptly to deliver said amount to TransfereeBuyer at Closing, if received for periods after the Effective Date and on or before the Closing, or promptly after receipt if received by Seller for periods prior to the Effective Date after the Closing; and (ii) if Transferee Buyer shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000the Effective Date, then Transferee Buyer agrees to hold such amount in trust for the benefit of Transferor Seller and promptly to deliver said amount to TransferorSeller. If Cronos U.K. CCL determines in its final reconciliation for periods ended on or prior to November 30October 31, 20002007, that Transferor Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. CCL any amount for such periods (any such excess or debt being referred to as a "“Deficiency"”), and Cronos U.K. CCL asserts against or attempts to collect from Transferee Buyer any such Deficiency, through offset or otherwise, then Transferor Seller or if, at such time, Transferor Seller has dissolved or liquidated, Cronos CCC shall, upon demand by TransfereeBuyer, pay such Deficiency to Cronos U.K. CCL or reimburse Transferee Buyer if and to the extent such Deficiency is paid by or assessed against TransfereeBuyer.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues for all periods commencing on and after December 1, 2000, prior to the Closing Date shall be for the account of and belong to TransfereeSeller and that all Net Revenues for all periods commencing on and after the Closing Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after November 30, 2000the Closing Date, or which may arise from any act, event or circumstance which occurred after that date, then Transferor Seller agrees to hold such amount in trust for the benefit of the Transferee Buyer and promptly to deliver said amount to TransfereeBuyer; and (ii) if Transferee Buyer shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000the Closing Date, then Transferee Buyer agrees to hold such amount in trust for the benefit of Transferor Seller and promptly to deliver said amount to Transferor. Seller, If Cronos U.K. CCL determines in its final reconciliation for periods ended on or prior to November 30August 31, 20002005, that Transferor Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. CCL any amount for such periods (any such excess or debt being referred to as a "“Deficiency"”), and Cronos U.K. CCL asserts against or attempts to collect from Transferee Buyer any such Deficiency, through offset or otherwise, then Transferor Seller or if, at such time, Transferor Seller has dissolved or liquidated, Cronos CCC shall, upon demand by TransfereeBuyer, pay such Deficiency to Cronos U.K. CCL or reimburse Transferee Buyer if and to the extent such Deficiency is paid by or assessed against TransfereeBuyer.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods commencing on and after December 1, 2000, prior to the Effective Date shall be for the account of and belong to TransfereeSeller and that all Net Revenues accrued for all periods commencing on and after the Effective Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after November 30, 2000the Effective Date, or which may arise from any act, event or circumstance which occurred after that date, then Transferor Seller agrees to hold such amount in trust for the benefit of the Transferee Buyer and promptly to deliver said amount to TransfereeBuyer at Closing, if received for periods after the Effective Date and on or before the Closing, or promptly after receipt if received by Seller for periods prior to the Effective Date after the Closing; and (ii) if Transferee Buyer shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000the Effective Date, then Transferee Buyer agrees to hold such amount in trust for the benefit of Transferor Seller and promptly to deliver said amount to TransferorSeller. If Cronos U.K. CCL determines in its final reconciliation for periods ended on or prior to November June 30, 20002008, that Transferor Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. CCL any amount for such periods (any such excess or debt being referred to as a "“Deficiency"”), and Cronos U.K. CCL asserts against or attempts to collect from Transferee Buyer any such Deficiency, through offset or otherwise, then Transferor Seller or if, at such time, Transferor Seller has dissolved or liquidated, Cronos CCC shall, upon demand by TransfereeBuyer, pay such Deficiency to Cronos U.K. CCL or reimburse Transferee Buyer if and to the extent such Deficiency is paid by or assessed against TransfereeBuyer.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods commencing on and after December 1, 2000, prior to the Effective Date shall be for the account of and belong to TransfereeSeller and that all Net Revenues accrued for all periods commencing on and after the Effective Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Transferor Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Transferee Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after November 30, 2000the Effective Date, or which may arise from any act, event or circumstance which occurred after that date, then Transferor Seller agrees to hold such amount in trust for the benefit of the Transferee Buyer and promptly to deliver said amount to TransfereeBuyer at Closing, if received for periods after the Effective Date and on or before the Closing, or promptly after receipt if received by Seller for periods prior to the Effective Date after the Closing; and (ii) if Transferee Buyer shall receive any distribution, payment or other amount which was due and payable under the Prior Management Agreements with respect to any period of time prior to December 1, 2000the Effective Date, then Transferee Buyer agrees to hold such amount in trust for the benefit of Transferor Seller and promptly to deliver said amount to TransferorSeller. If Cronos U.K. CCL determines in its final reconciliation for periods ended on or prior to November 30December 31, 20002005, that Transferor Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes Cronos U.K. CCL any amount for such periods (any such excess or debt being referred to as a "“Deficiency"”), and Cronos U.K. CCL asserts against or attempts to collect from Transferee Buyer any such Deficiency, through offset or otherwise, then Transferor Seller or if, at such time, Transferor Seller has dissolved or liquidated, Cronos CCC shall, upon demand by TransfereeBuyer, pay such Deficiency to Cronos U.K. CCL or reimburse Transferee Buyer if and to the extent such Deficiency is paid by or assessed against TransfereeBuyer.