CONSERVATION TAXES Clause Samples

CONSERVATION TAXES. Seller represents that it has paid all ------------------- conservation taxes as a result of production from the Gas Properties through -June 30, 2003. Seller warrants and represents that it will pay all conservation taxes due for the period of time prior to the Effective Date. Buyer agrees and represents that it will pay all conservation taxes applicable and payable on production arising on or after the Effective Date. The parties will calculate the conservation taxes due on production from the Gas Properties from July 1, 2003 through December 31, 2003, and will each contribute their respective shares of such conservation taxes to be paid on or before February 25, 2004.