Joint Closing Obligations. Both Parties at Closing shall execute a Settlement Statement evidencing the amount actually wire transferred and all adjustments to the Purchase Price taken into account at Closing. All events of Closing shall each be deemed to have occurred simultaneously with the other, regardless of when actually occurring, and each shall be a condition precedent to the other.
Joint Closing Obligations. At least five (5) Business Days prior to the Closing Date, Seller shall prepare and deliver to Buyer for Buyer’s review and comment a settlement statement setting forth, in reasonable detail, Seller’s good faith computation of the adjustments provided for in Section 3.3 (which computation shall be based on actual amounts (rather than estimated amounts) in Seller’s possession)) (herein called the “Preliminary Settlement Statement”). Both Parties at Closing shall execute the Preliminary Settlement Statement evidencing the Performance Deposit (as increased by any interest earned as described in Section 3.2) and all adjustments to the Purchase Price taken into account at Closing. All events of Closing shall each be deemed to have occurred simultaneously with the other, regardless of when actually occurred, and each shall be a condition precedent to the other.
Joint Closing Obligations. On the Closing Date, the Seller and the Purchaser shall do all of the following or shall cause the same to be done (the "Joint Closing Obligations"):
(A) The Seller and the Purchaser shall send written information letters to each of the Transferred Employees mentioning the consequences of application of the CAO 32bis;
(B) The Purchaser and Serge Schrurs shall enter into the Services Agreement;
(C) The Purchaser and the Seller shall enter into the Lease Agreement.
Joint Closing Obligations. Both Parties at Closing shall execute the following:
(a) a Closing Statement evidencing Purchased Assets and all adjustments to the Purchase Price taken into account at Closing. All events of Closing shall each be deemed to have occurred simultaneously with the other, regardless of when actually occurring and each shall be a condition precedent to the other.
Joint Closing Obligations. On the Closing Date, the Seller and the Purchaser shall send written information letters to each of the Transferred Employees mentioning the consequences of application of the CAO 32bis.
Joint Closing Obligations. Both Parties at Closing shall execute a Settlement Statement evidencing the amounts actually wire transferred into such accounts as are designated above or by the receiving Party in writing prior to Closing. Seller and Buyer shall also execute, acknowledge (if necessary) and exchange, as applicable, any applications necessary to transfer governmental or regulatory permits to which the Assets are subject, and which Seller has agreed to transfer under this Agreement.
Joint Closing Obligations. Purchaser and Seller shall execute and deliver a closing statement for each of the Properties setting forth the applicable Purchase Price, and any and all prorations and credits between the parties, as determined pursuant to this Agreement, together with real estate transfer tax declarations as required.
Joint Closing Obligations. Both Parties at Closing shall execute:
(a) A Settlement Statement evidencing the amounts actually wire transferred into such account(s) as are designated above;
(b) A letter evidencing any Sellers' and Buyer's Credits as may be agreed by the Parties as provided in Sections 3.2(a)(iii) and 3.2(b)(iii);
(c) Sellers and Buyer shall notify all lessors, royalty owners, operators, non-operators, purchasers of production and governmental agencies that Buyer has purchased the Assets and has assumed liability for their continued operation from and after the Effective Time. Buyer and Sellers shall execute all transfer orders and division orders necessary to transfer payment of the proceeds from the sale of production from the Assets as of the Effective Time to Buyer;
(d) Buyer and Sellers shall execute and file all forms (and Buyer shall perform all acts) required by the MMS (and other appropriate governmental agencies) to transfer operatorship of any of the Assets from Sellers to Buyer effective as of the Effective Time; and
(e) If Buyer is to succeed any Seller as operator, or has nominated a successor operator with respect to any of the Assets, Buyer shall prepare and the Parties shall execute appropriate change of operator notices and any necessary third party ballots. Sellers and Buyer shall execute, acknowledge (if necessary) and exchange, as applicable, any applications necessary to transfer governmental or regulatory permits to which the Assets are subject, and which Sellers have agreed to transfer under this Agreement.
Joint Closing Obligations. The Parties at Closing shall execute and deliver to the other Party:
(a) Preliminary Settlement Statement evidencing the amount actually wire transferred and all adjustments to the Purchase Price taken into account at Closing;
(b) all other Transaction Documents; and
(c) Post-Closing Accounting and Reporting Agreement. All events of Closing shall each be deemed to have occurred simultaneously with the other, regardless of when actually occurring, and each shall be a condition precedent to the other.
(d) LIMITATIONS ON WARRANTIES AND REMEDIES/DTPA WAIVER
Joint Closing Obligations. All events of Closing shall each be deemed to have occurred simultaneously with the other, regardless of when actually occurring, and each shall be a condition precedent to the other.
