Common use of Payout Balances Clause in Contracts

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 3.19 3.14 contains a list, which is complete and accurate in all material respects, list of the status of the Payout Balance, as of the Effective Time, for each Well in which the Seller has an any “payout” balance (net to Seller’s interest. “Payout Balance” means the status), as of the dates of the calculationsshown in such Schedule, of the recovery by the Seller for each Lease or a third party of a cost amount specified in the contract relating Well that is subject to a well out reversion or other adjustment at some level of the revenue from such well where the net revenue interest of the Seller therein will be reduced cost recovery or the working interest therein will be increased when such amount has been recoveredpayout.

Payout Balances. Schedule 3.19 contains a list, which is complete and accurate in all material respects, of 3.28 sets forth 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 statusany payout balance, as of the dates of the calculationsshown on Schedule 3.28, of the recovery by the Seller or a third party of a cost amount specified in the contract relating for each Well that is subject to a well out reversion or other adjustment at some level of the revenue from such well where the net revenue interest of the Seller therein will be reduced cost recovery or the working interest therein will be increased when such amount has been recoveredpayout.

Payout Balances. Schedule 3.19 3.15 contains a list, which is complete and accurate in all material respects, list of the status of the Payout Balance, as of the Effective Time, for each Well in which the Seller has an any “payout” balance (net to such Seller’s interest. “Payout Balance” means the status), as of the dates of the calculationsshown in such Schedule, of the recovery by the Seller for each Lease or a third party of a cost amount specified in the contract relating Well that is subject to a well out reversion or other adjustment at some level of the revenue from such well where the net revenue interest of the Seller therein will be reduced cost recovery or the working interest therein will be increased when such amount has been recoveredpayout.