Effective Time and Date. The purchase and sale of the Assets shall become effective at 7:00 a.m. on October 1, 2010. Revenues and expenses shall be prorated as of the Effective Date; provided, however, that the rights to any amounts withheld from previous production proceeds for the purpose of paying then unpaid ad valorem taxes for 2009 production assessed in 2010 (due in 2011) or for 2010 production assessed in 2010 (due in 2012) will be assigned to Synergy at Closing. If any purchaser of production has not withheld any amounts from 2009 production proceeds for the purpose of paying ad valorem taxes assessed in 2010 (due in 2011) or for 2010 production assessed in 2011 (due in 2011), then (i) the actual amount necessary to pay the then unpaid 2009 and 2010 ad valorem taxes and (ii) the estimated amount that should have been withheld based upon pre-Effective Date production for 2009 and 2010 ad valorem taxes (at the rate indicated by Weld County, being an approximately 9% rate) will be determined, and both amounts will be credited to Synergy at closing. The assignment of, and credit for, these amounts shall serve as a final settlement for ad valorem taxes. PEM shall pay all severance taxes on production obtained from the Assets prior to the Effective Date and Synergy shall pay all severance taxes on production obtained from the Assets after the Effective Date.
Effective Time and Date. On the date hereof, the Merging Company and the Surviving Company shall cause the Merger to be consummated by (i) filing Articles of Merger with the Secretary of State of the State of Georgia in such form as required by, and executed in accordance with, the GBCC, and (ii) filing Articles of Merger with the Secretary of State of the State of Texas in such form as required by, and executed in accordance with, the TBCA. The term "Effective Time" shall mean the time of the filings of Articles of Merger in accordance with this Section 2.
Effective Time and Date. The Fund shall operate on a fiscal year consistent with the calendar year beginning on the first day of January and ending on the last day of December (the "Fiscal Year" or "Fund Year"), and effective date of this Agreement shall be the date the parties entered into this Amended and Restated Pooling Agreement as set forth below.
Effective Time and Date. The Merging Company and the Surviving ----------------------- Company shall cause the Merger to be consummated by filing a Certificate of Merger with the Secretary of State of the State of Delaware in such form as required by, and executed in accordance with, the DGCL and the DLLCA. The term "Effective Time" shall mean 10 am on the date of consummation of the Initial Public Offering of the Surviving Company's common stock.
Effective Time and Date. The purchase and sale of the Assets shall become effective at 12:01 a.m. on January 1, 2011. Revenues and expenses shall be prorated as of the Effective Time and Date. PEM shall pay all ad valorem and severance taxes on production obtained from the Assets prior to the Effective Time and Date and Synergy shall pay all ad valorem and severance taxes on production obtained from the Assets after the Effective Time and Date.
Effective Time and Date. The terms and provisions of this Agreement are effective as of the Effective Date set forth above, and immediately prior to the effective time of the Sygnet Merger.
