Common use of Imbalances and Other Matters Clause in Contracts

Imbalances and Other Matters. As soon as reasonably practicable, but in no event later than ten (10) Business Days after, the Effective Time, Seller shall provide to Buyer written notice setting forth the status and extent of any Imbalances, as well as any “take-or-pay”, prepayment, forward sale, production payment, deferred production, and similar arrangements, in effect with respect to the Assets as of the Effective Time. For purposes of the adjustment of the Cash Purchase Price pursuant to Sections 2.3(b) and 2.3(c), such Imbalances and other arrangements shall be valued based upon the contract price applicable to the relevant category of Hydrocarbons (or if there is no contract price, the market value thereof) as of the Effective Time. In the event of a dispute concerning the market value of any such Hydrocarbons that is not resolved prior to the Closing, either Buyer or Seller may initiate arbitration of such dispute pursuant to the terms of Section 10.11. In that event, if necessary, the Closing shall be deferred until three (3) Business Days after the issuance of the decision of the arbitrators as to such dispute.

Imbalances and Other Matters. As soon as reasonably practicable, but in no event later than ten five (105) Business Days afterafter the execution of this Agreement, the Effective Time, Seller Sellers shall provide to Buyer written notice setting forth the status and extent of any Imbalances, as well as any “"take-or-pay”", prepayment, forward sale, production payment, deferred production, and similar arrangements, in effect with respect to the Assets as of the Effective Time. For purposes of the adjustment of the Cash Purchase Price pursuant to Sections 2.3(b) and 2.3(c), such Imbalances and other arrangements shall be valued based upon the contract price applicable to the relevant category of Hydrocarbons (or if there is no contract price, the market value thereof) as of the Effective Time. In the event of a dispute concerning the market value of any such Hydrocarbons that is not resolved prior to the Closing, either Buyer or Seller Sellers may initiate arbitration of such dispute pursuant to the terms of Section 10.11. In that event, if necessary, the Closing shall be deferred until three (3) Business Days after the issuance of the decision of the arbitrators as to such dispute.

Imbalances and Other Matters. As soon as reasonably practicable, but in no event later than ten (10) Business Days after, the Effective Time, Seller Sellers shall provide to Buyer written notice setting forth the status and extent of any Imbalances, as well as any “take-or-pay”, prepayment, forward sale, production payment, deferred production, and similar arrangements, in effect with respect to the Assets as of the Effective Time. For purposes of the adjustment of the Cash Purchase Price Base Consideration pursuant to Sections 2.3(b2.3(c) and 2.3(c2.3(d), such Imbalances and other arrangements shall be valued based upon the contract price applicable to the relevant category of Hydrocarbons (or if there is no contract price, the market value thereof) as of the Effective Time. In the event of a dispute concerning the market value of any such Hydrocarbons that is not resolved prior to the Closing, either Buyer or Seller Sellers may initiate arbitration of such dispute pursuant to the terms of Section 10.11. In that event, if necessary, the Closing shall be deferred until three (3) Business Days after the issuance of the decision of the arbitrators as to such dispute.