Common use of Increases to Purchase Price Clause in Contracts

Increases to Purchase Price. The Purchase Price shall be increased by the following amounts (without duplication): (a) The amount of all expenses and charges relating to the Assets or the operation of the Assets which are paid by or on behalf of Seller and are attributable to the period of time from and after the Effective Date, including (i) all operating and capital expenditures and prepaid expenses attributable to the Assets including, without limitation, royalty disbursements, rentals and other similar charges, excise, severance and production tax payments and any other tax payments based upon or measured by the production of Sale Hydrocarbons or the receipt of proceeds therefrom, and (ii) expenses paid by Seller to any third party under applicable joint operating agreements or other contracts or agreements included in or bearing upon the Assets, or in the absence of any joint operating agreement, those customarily billed under any such agreement, including without limitation, drilling, completion, reworking, deepening, side-tracking, plugging and abandoning, geological and geophysical and land costs. (b) An amount equal to the market value of all Hydrocarbons in storage above the pipeline connection on the Effective Date (less a reasonable estimate for basic sediment and water) that are produced from, attributable to, or otherwise credited to the Assets (it being understood that such value shall be based on the price at which such Hydrocarbons were sold after the Effective Date (on a first-in, first-out basis), less transportation, processing, quality adjustments, if any, applicable taxes and royalty payments). (c) The amount of any property or ad valorem taxes paid by Seller, prorated in accordance with Section 5. (d) An amount equal to any unpaid joint interest bxxxxxxx of Buyer relating to the Assets and attributable to the period of time prior to the Effective Date. (e) The sum of $15,000 per month for each month or portion thereof from the Effective Date to the Closing Date as compensation to Seller for issuing royalty and rental checks and continuing to perform accounting obligations for the Assets through the production month of January 2005. (f) Interest, at the rate of 4% per annum, on the Adjusted Purchase Price less the Deposit, and less the production revenue attributable to the Assets for the period of time from the Effective Date to the Closing Date. (g) Any other amount agreed upon by Seller and Buyer.

Increases to Purchase Price. The Purchase Price shall be increased by the following amounts (without duplication): (a) The amount of all expenses and charges relating to the Assets or the operation of the Assets which are paid by or on behalf of Seller and are attributable to the period of time from and after the Effective Date, including (i) all operating and capital expenditures and prepaid expenses attributable to the Assets (inclusive of Seller’s reasonable overhead or administrative expenses attributable or allocable to the Assets, not to exceed the amount specified in any applicable joint operating agreement) including, without limitation, royalty disbursements, rentals and other similar charges, excise, severance and production tax payments and any other tax payments based upon or measured by the production of Sale Hydrocarbons or the receipt of proceeds therefrom, and (ii) expenses paid by Seller to any third party under applicable joint operating agreements or other contracts or agreements included in or bearing upon the Assets, or in the absence of any joint operating agreement, those customarily billed under any such agreement, including without limitation, drilling, completion, reworking, deepening, side-tracking, plugging and abandoning, geological and geophysical and land costs. (b) An amount equal to the market value of all Hydrocarbons in storage above the pipeline connection on the Effective Date (less a reasonable estimate for basic sediment and water) that are produced from, attributable to, or otherwise credited to the Assets (it being understood that such value shall be based on the price at which such Hydrocarbons were sold after the Effective Date (on a first-in, first-out basis), less transportation, processing, quality adjustments, if any, applicable taxes and royalty payments). (c) The amount of any property or ad valorem taxes paid by Seller, prorated in accordance with Section 54. (d) An amount equal to any unpaid joint interest bxxxxxxx xxxxxxxx of Buyer relating to the Assets and attributable to the period of time prior to the Effective Date. (e) The sum of $15,000 per month for each month or portion thereof from the Effective Date to the Closing Date as compensation to Seller for issuing royalty and rental checks and continuing to perform accounting obligations for the Assets through the production month of January 2005. (f) Interest, at the rate of 4% per annum, Interest on the Adjusted Purchase Price less the Deposit, and less the production revenue attributable to the Assets for the period of time from the Effective Date to the Closing Date, calculated using a month-to-month floating LIBOR rate plus one (1%) percent. The floating LIBOR rate shall be equal to the one month LIBOR rate published in the Wall Street Journal on the first day of each month between the Effective Date and Closing Date. For purposes of this Section 2.4.1 (e), the interest on the Purchase Price shall be calculated after taking into consideration the adjustments described in subsections (b), (c), (d) and (g) of Section 2.4.2. In addition, interest shall not be accrued on that portion of the Purchase Price represented by the Deposit during the period beginning on the date the Deposit is credited to Seller’s account and ending on the Closing Date. (gf) Any other amount provided for in this Agreement or agreed upon by Seller and Buyer.

Increases to Purchase Price. The portion of the Purchase Price allocable to each Seller shall be increased increased, in the post-Closing settlement pursuant to Section 4(c) below, by the following amounts (without duplication):following: (ai) The an amount of all expenses and charges relating equal to the Assets quantity of merchantable oil produced from or the operation of the Assets which are paid by or on behalf of Seller and are attributable allocable to the period interest of time from such Seller in the Leases and after in storage at the Effective Date, including (i) all operating and capital expenditures and prepaid expenses attributable not sold or disposed of prior to the Assets includingClosing, without limitation, royalty disbursements, rentals and other similar charges, excise, severance and production tax payments and any other tax payments based upon or measured multiplied by the production market price for such oil at the Effective Date, net of Sale Hydrocarbons or the receipt of proceeds therefrom, all taxes and gravity adjustments and transportation expenses necessary to market such production; and (ii) expenses paid by Seller to any third party under applicable joint operating agreements or other contracts or agreements included in or bearing upon the Assets, or in the absence of any joint operating agreement, those customarily billed under any such agreement, including without limitation, drilling, completion, reworking, deepening, side-tracking, plugging and abandoning, geological and geophysical and land costs. (b) An an amount equal to the market value production, severance, and similar taxes and assessments (other than income taxes) paid by such Seller in respect of all production of Hydrocarbons in storage above the pipeline connection on the Effective Date (less a reasonable estimate for basic sediment and water) that are produced from, attributable to, from or otherwise credited allocable to the Assets (it being understood that such value shall be based Subject Leases occurring on the price at which such Hydrocarbons were sold or after the Effective Date (on a first-inSellers shall be entitled to, first-out basis)and shall retain to the extent received prior to preparation of the Settlement Statement, less transportationas such terms is defined hereinafter, processingany refunds of production, quality adjustments, if any, applicable severance or other similar taxes and royalty payments). assessments (cother than income taxes) The amount of any property or ad valorem taxes paid by Seller, prorated in accordance with Section 5. (d) An amount equal to any unpaid joint interest bxxxxxxx of Buyer relating to the Assets and attributable extent pertaining to production of Hydrocarbons from or allocable to the period of time Subject Leases occurring prior to the Effective Date. (e). In addition, the portion of the Purchase Price allocable to HHOC shall be increased, in the post-Closing settlement pursuant to Section 4(c) The below, by the sum of $15,000 per month for the amount of the direct capital expenses with respect to the Subject Leases or the pipelines located on the lands covered by the Subject Easements approved by Purchaser in accordance with Section 8 or otherwise made in accordance with this Agreement, plus direct lease and pipeline operating expenses under applicable operating agreements and general and administrative charges, if any, payable to any third-party operator under applicable operating agreements, in each month or portion thereof from instance that are (x) attributable to the Subject Interests during the period between the Effective Date to and Closing, (y) incurred and paid by HHOC (whether before or after the Closing Date as compensation to Seller for issuing royalty and rental checks and continuing to perform accounting obligations for the Assets through the production month of January 2005. (f) Interest, at the rate of 4% per annum, on the Adjusted Purchase Price less the DepositClosing), and less the production revenue attributable to the Assets for the period (z) in excess of time reimbursements or advances from the Effective Date to the Closing Datejoint owners under applicable operating agreements under which HHOC serves as operator. (g) Any other amount agreed upon by Seller and Buyer.

Increases to Purchase Price. The Purchase Price shall be increased by the following amounts (without duplication): (a) The amount of all expenses and charges relating to the Assets or the operation of the Assets which are paid by or on behalf of Seller and are attributable to the period of time from and after the Effective Date, including (i) all operating and capital expenditures and prepaid expenses attributable to the Assets including, without limitation, royalty disbursements, rentals and other similar charges, excise, severance and production tax payments and any other tax payments based upon or measured by the production of Sale Hydrocarbons or the receipt of proceeds therefrom, and (ii) expenses paid by Seller to any third party under applicable joint operating agreements or other contracts or agreements included in or bearing upon the Assets, or in the absence of any joint operating agreement, those customarily billed under any such agreement, including without limitation, drilling, completion, reworking, deepening, side-tracking, plugging and abandoning, geological and geophysical and land costs. (b) An amount equal to the market value of all Hydrocarbons in storage above the pipeline connection on the Effective Date (less a reasonable estimate for basic sediment and water) that are produced from, attributable to, or otherwise credited to the Assets (it being understood that such value shall be based on the price at which such Hydrocarbons were sold after the Effective Date (on a first-in, first-out basis), less transportation, processing, quality adjustments, if any, applicable taxes and royalty payments). (c) The amount of any property or ad valorem taxes paid by Seller, prorated in accordance with Section 5. (d) An amount equal to any unpaid joint interest bxxxxxxx xxxxxxxx of Buyer relating to the Assets and attributable to the period of time prior to the Effective Date. (e) The sum of $15,000 per month for each month or portion thereof from the Effective Date to the Closing Date as compensation to Seller for issuing royalty and rental checks and continuing to perform accounting obligations for the Assets through the production month of January 2005. (f) Interest, at the rate of 4% per annum, on the Adjusted Purchase Price less the Deposit, and less the production revenue attributable to the Assets for the period of time from the Effective Date to the Closing Date. (g) Any other amount agreed upon by Seller and Buyer.