Payout Balances Clause Samples
The Payout Balances clause defines how and when funds owed to a party are calculated, held, and disbursed under an agreement. Typically, it outlines the process for determining the amount due, the timing of payments, and any conditions or deductions that may apply before the payout is made. For example, it may specify that balances are paid monthly after deducting applicable fees or chargebacks. This clause ensures transparency and predictability in financial transactions, helping both parties understand when and how they will receive payments and reducing the risk of disputes over payment timing or amounts.
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Payout Balances. To Seller's Knowledge, Schedule 10.1.3 contains a complete and accurate list of the status of any "payout" balance, as of the Effective Time, for the ▇▇▇▇▇ and Units subject to a reversion or other adjustment at some level of cost recovery or payout (or passage of time or other event other than termination of a Lease by its terms).
Payout Balances. To the Company’s Knowledge, Schedule 7.22 contains a list of the status as of the date(s) set forth in such Schedule, of any “payout” balance for the ▇▇▇▇▇ listed on Annex A-2 that are subject to a reversion or other adjustment at some level of cost recovery or payout (or passage of time or other event other than termination of a Lease by its terms).
Payout Balances. Schedule 3.19 contains a list, which is complete and accurate in all material respects, of the status of the Payout Balance, as of the Effective Time, for each Well in which the Seller has an interest. “Payout Balance” means the status, as of the dates of the calculations, of the recovery by the Seller or a third party of a cost amount specified in the contract relating to a well out of the revenue from such well where the net revenue interest of the Seller therein will be reduced or the working interest therein will be increased when such amount has been recovered.
Payout Balances. Schedule 3.1(w) contains a complete and accurate schedule of the status of any "payout" balance due as of March 31, 2010, for each Property that is subject to a reversion or other adjustment at some level of cost recovery or payout.
Payout Balances. Schedule 4.15 contains a list of the estimated status of any “payout” balance (net to the interest of Seller), as of the dates shown in such Schedule, for each Property that is subject to a reversion or other adjustment at some level of cost recovery or payout.
Payout Balances. To Seller’s knowledge, Schedule 6.01(p) contains a complete and accurate list of the status of any “payout” balance, as of the Effective Time, for the ▇▇▇▇▇ and Units subject to a reversion or other adjustment at some level of cost recovery or payout (or passage of time or other event other than termination of a Lease by its terms).
Payout Balances. Where Seller is the operator, Schedule 6.01(r-1) contains a list of the estimated status of any “payout” balance, as of the dates shown in such Schedule, for each Property that is subject to a reversion or other adjustment at some level of cost recovery or payout. Where a Third Party is the operator, to Seller’s Knowledge, Schedule 6.01(r-2) contains a list of the estimated status of any “payout” balance, as of the dates shown in such Schedule, for each Property that is subject to a reversion or other adjustment at some level of cost recovery or payout.
Payout Balances. The Payout Balance for any well owned and operated by the Company is properly reflected in the Disclosure Schedule as of the respective dates shown thereon. To the knowledge of the Company, based on information given to the Company by third-party operators for all ▇▇▇▇▇ not operated by the Company, the Payout Balance for any such third-party operated well in which the Company owns an Oil and Gas Interest is properly reflected in the Disclosure Schedule as of the respective dates shown thereon. “Payout Balance(s)” means the status, as of the dates of the Company’s calculations, of the recovery by the Company or a Third Party of a cost amount specified in the contract relating to a well out of the revenue from such well where the net revenue interest of the Company therein will be reduced when such amount has been recovered.
Payout Balances. Schedule 3.17 identifies the ▇▇▇▇▇ and Units subject to a reversion or other adjustment at some level of cost recovery or payout (or passage of time or other event other than a termination of a Lease by its terms), and, to SM Energy’s Knowledge, the list is a complete and accurate list of the status of any “payout” balance, as of the Effective Time.
Payout Balances. Schedule 5.1(u), (i) identifies those ▇▇▇▇▇ that, as of the date hereof, are subject to a reversion or other adjustment at some level of cost recovery or payout and (ii) to Seller’s Knowledge, the status of the “payout” balances with respect to each such Well as of such date.