Asset Taxes. (a) (i) Seller shall be allocated and bear all Asset Taxes attributable to (x) any Tax period ending prior to the Effective Time and (y) the portion of any Straddle Period ending immediately prior to the Effective Time, and (ii) Purchaser shall be allocated and bear all Asset Taxes attributable to (x) any Tax period beginning at or after the Effective Time and (y) the portion of any Straddle Period beginning at the Effective Time.
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Samples: Purchase and Sale Agreement (Energy Resources 12, L.P.), Purchase and Sale Agreement (Energy Resources 12, L.P.)
Asset Taxes. (a) (i) Seller shall be allocated and bear all Asset Taxes attributable to the Assets with respect to (xi) any Tax period ending prior to the Effective Time and (yii) the portion of any Straddle Period ending immediately prior to the Effective Time, and (ii) Purchaser shall be allocated and bear all Asset Taxes attributable to the Assets with respect to (x) any Tax period beginning at or after the Effective Time and (y) the portion of any Straddle Period beginning at the Effective Time.
Appears in 2 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement (Diamondback Energy, Inc.)
Asset Taxes. (a) (iA) Seller shall be allocated and bear all Asset Taxes attributable to the Assets and their operations for (xA) any Tax period ending prior to on the Effective Time Execution Date and (yB) the portion of any Straddle Period ending immediately prior to on the Effective TimeExecution Date, and (ii) Purchaser Buyer shall be allocated and bear all Asset Taxes attributable to (xX) any Tax period beginning at or after the Effective Time Execution Date and (yY) the portion of any Straddle Period beginning at after the Effective TimeExecution Date.
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Samples: Membership Interests Purchase Agreement (Eclipse Resources Corp)
Asset Taxes. (a) (i) Seller shall be allocated and bear all Asset Taxes attributable to the Assets with respect to (xi) any Tax tax period ending prior to the Effective Time Date and (yii) the portion of any tax period beginning before and ending after the Effective Date (a “Straddle Period Period”) ending immediately prior to the Effective TimeDate, and (ii) Purchaser shall be allocated and bear all Asset Taxes attributable to the Assets with respect to (x) any Tax tax period beginning at or after the Effective Time Date and (y) the portion of any Straddle Period beginning at the Effective TimeDate.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Creek Road Miners, Inc.)
Asset Taxes. (a) (i) Seller shall be allocated and bear all Asset Taxes attributable to the Assets with respect to (xi) any Tax period ending prior to the Effective Time and (yii) the portion of any Straddle Period ending immediately prior to the Effective Time, and (ii) Purchaser Buyer shall be allocated and bear all Asset Taxes attributable to the Assets with respect to (x) any Tax period beginning at or after the Effective Time and (y) the portion of any Straddle Period beginning at the Effective Time.
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