Common use of Payment to Owner Clause in Contracts

Payment to Owner. The consideration to be received by Owner pursuant to Section 3 of this Agreement shall be paid by the Xxxxxxx Parties to Owner for any given month promptly after the Xxxxxxx Parties actually receive funds for NGLs purchased by the Xxxxxxx Parties and resold pursuant to this agreement for such month, and in any event on or before the date that is ten (10) days after the date upon which the Xxxxxxx Parties actually receive funds for NGLs purchased by the Xxxxxxx Parties and resold pursuant to this agreement from the applicable purchasers of such NGLs for a given month, along with a detailed statement describing such amounts payable to Owner. If the Xxxxxxx Parties or Owner fail(s) to make any payment to the other when due hereunder (the “Payment Due Date”) then, (i) beginning on the first day after the Payment Due Date (and continuing until the day such payment is made pursuant to this Section 4), interest shall accrue on the amount of any such payment not so paid at a rate equal to the lesser of (a) the then-applicable prime rate (as then most recently published in The Wall Street Journal) plus three percent (3%) and (b) the maximum rate permitted by applicable law and (ii) if, within the one hundred and eighty (180) day period following the Payment Due Date applicable to such payment, the owing Party(ies) has(have) failed to make such payment to the owed Party(ies), then the owed Party(ies) shall have the right (in addition to all other rights and remedies available to the owed Party(ies) at law or in equity with respect to such non-payment), upon thirty (30) days’ written notice to the owing Party(ies), to terminate this Agreement. Unless otherwise consented to in writing by the Parties, all payments due hereunder shall be made by the owing Party(ies) to the owed Party(ies) via wire transfer of immediately available U.S. dollars to the accounts set forth below (or to any other account or accounts as specified in writing from time to time by the Parties): If to Owner: [·] [·] [·] [·] If to the Xxxxxxx Parties: [·] [·] [·] [·]

Payment to Owner. The consideration to be received by Owner pursuant to Section 3 of this Agreement shall be paid by the Xxxxxxx Parties to Owner for any given month promptly after the Xxxxxxx Parties actually receive funds for NGLs Residue Gas purchased by the Xxxxxxx Parties and resold pursuant to this agreement for such month, and in any event on or before the date that is ten (10) days after the date upon which the Xxxxxxx Parties actually receive funds for NGLs Residue Gas purchased by the Xxxxxxx Parties and resold pursuant to this agreement from the applicable purchasers of such NGLs Residue Gas for a given month, along with a detailed statement describing such amounts payable to Owner. If the Xxxxxxx Parties or Owner fail(s) to make any payment to the other when due hereunder (the “Payment Due Date”) ), then, (i) beginning on the first day after the Payment Due Date (and continuing until the day such payment is made pursuant to this Section 4), interest shall accrue on the amount of any such payment not so paid at a rate equal to the lesser of (a) the then-then- applicable prime rate (as then most recently published in The Wall Street Journal) plus three percent (3%) and (b) the maximum rate permitted by applicable law and (ii) if, within the one hundred and eighty (180) day period following the Payment Due Date applicable to such payment, the owing Party(ies) has(have) failed to make such payment to the owed Party(ies), then the owed Party(ies) shall have the right (in addition to all other rights and remedies available to the owed Party(ies) at law or in equity with respect to such non-payment), upon thirty (30) days’ written notice to the owing Party(ies), to terminate this Agreement. Unless otherwise consented to in writing by the Parties, all payments due hereunder shall be made by the owing Party(ies) to the owed Party(ies) via wire transfer of immediately available U.S. dollars to the accounts set forth below (or to any other account or accounts as specified in writing from time to time by the Parties): If to Owner: [·] [·] [·] [·] If to the Xxxxxxx Parties: [·] [·] [·] [·]

Payment to Owner. The consideration to be received by Owner pursuant to Section 3 of this Agreement shall be paid by the Xxxxxxx Parties to Owner for any given month promptly after the Xxxxxxx Parties actually receive funds for NGLs Oil Production purchased by the Xxxxxxx Parties and resold pursuant to this agreement for such month, and in any event on or before the date that is ten (10) days after the date upon which the Xxxxxxx Parties actually receive funds for NGLs Oil Production purchased by the Xxxxxxx Parties and resold pursuant to this agreement from the applicable purchasers of such NGLs Oil Production for a given month, along with a detailed statement describing such amounts payable to Owner. If the Xxxxxxx Parties or Owner fail(s) to make any payment to the other when due hereunder (the “Payment Due Date”) ), then, (i) beginning on the first day after the Payment Due Date (and continuing until the day such payment is made pursuant to this Section 4), interest shall accrue on the amount of any such payment not so paid at a rate equal to the lesser of (a) the then-applicable prime rate (as then most recently published in The Wall Street Journal) plus three percent (3%) and (b) the maximum rate permitted by applicable law and (ii) if, within the one hundred and eighty (180) day period following the Payment Due Date applicable to such payment, the owing Party(ies) has(have) failed to make such payment to the owed Party(ies), then the owed Party(ies) shall have the right (in addition to all other rights and remedies available to the owed Party(ies) at law or in equity with respect to such non-payment), upon thirty (30) days’ written notice to the owing Party(ies), to terminate this Agreement. Unless otherwise consented to in writing by the Parties, all payments due hereunder shall be made by the owing Party(ies) to the owed Party(ies) via wire transfer of immediately available U.S. dollars to the accounts set forth below (or to any other account or accounts as specified in writing from time to time by the Parties): If to Owner: [·] [·] [·] [·] If to the Xxxxxxx Parties: [·] [·] [·] [·]