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Post Closing Administrative Accounting Responsibilities Sample Clauses

Post Closing Administrative Accounting Responsibilities. To the extent Seller is presently involved in the administration of the Interests, Seller shall retain the obligation and responsibility for the administration of the Interests for the period ending on the Closing Date. However, Seller and Buyer recognize that Buyer's obligation to immediately assume administrative accounting responsibilities for the Interests upon Closing may be impractical and will present certain difficulties for both Seller and Buyer in regards to transfer of such administrative responsibilities, timely and proper revenue distributions, payment of expenses, joint interest billxxxx xxx the rendition of post-closing settlement statements. Therefore, to facilitate a convenient and proper transfer of the administrative accounting responsibilities relating to the Interests, Seller and Buyer agree the administrative duties will be transferred from the Seller to the Buyer in the following manner:
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Post Closing Administrative Accounting Responsibilities. To the extent Assignor is presently involved in the administration of the Properties, Assignor shall retain the obligation and responsibility for the administration of the Properties for the period ending on the Closing Date. However, Assignor and Assignee recognize that Assignee's obligation to immediately assume administrative accounting responsibilities for the Properties upon Closing may be impractical and will present certain difficulties for both Assignor and Assignee in regards to transfer of such administrative responsibilities, timely and proper revenue distributions, payment of expenses, joint interest billxxxx xxx the rendition of post-closing settlement statements. Therefore, to facilitate a convenient and proper transfer of the administrative accounting responsibilities relating to the Properties, Assignor and Assignee agree the administrative duties will be transferred from the Assignor to the Assignee in the following manner:
Sample 1
Post Closing Administrative Accounting Responsibilities. (a) Seller shall undertake the obligations set forth in the Transition Agreement (delivered pursuant to Section 8.3(i)). (b) Seller acknowledges that, in order to comply with requirements of Regulation S-X promulgated by the Securities and Exchange Commission, Buyer may need to engage independent public accountants (the “PA”) to conduct an audit and provide an audit opinion in accordance with generally accepted auditing principles in the United States of historical financial statements derived for the business representing the Assets (excluding the Excluded Assets) (collectively, the “Audited Financial Statements”). Notwithstanding any other provision of this Agreement, Seller shall provide such access to its books and records, and shall otherwise provide whatever other assistance is reasonably necessary (including, but not limited to, executing appropriate and reasonable representation letters to the PA), to enable Buyer and the PA to prepare and audit the Audited Financial Statements within 75 days of the Closing Date. (c) Seller covenants to deliver to Buyer, within thirty (30) days after Closing, in a mutually agreeable electronic format, the following information with respect to all funds which Seller is holding as of the Closing Date that are owing to third party owners of royalty, overriding royalty, or working interests in respect of past production of Hydrocarbons attributable to the Interests (referred to herein as “Suspense Accounts”): owner name, owner number, owner social security number (if known to Seller), reason for suspense, and the amount of suspense funds payable for each entry, together with monthly line item production detail for all suspense entries. Buyer shall assume all responsibility and liability for the Suspense Accounts. (d) Promptly after Closing, Seller shall prepare and present to Buyer for review and approval the form of transfer orders or letters in lieu and associated exhibits thereof in a form reasonably acceptable to Buyer (“Letters in Lieu”). Prior to December 31, 2003, Seller and Buyer shall execute, acknowledge and deliver transfer orders or Letters in Lieu thereof directing purchasers of production to make payment to Buyer of proceeds attributable to production from the Interests assigned to Buyer.
Sample 1
Post Closing Administrative Accounting Responsibilities. To the extent Seller is presently involved in the administration of the Properties, Seller shall retain the obligation and responsibility for the administration of the Properties for the period ending on the Closing Date. Therefore, to facilitate a convenient and proper transfer of the administrative accounting responsibilities relating to the Properties, Seller and Buyer agree the administrative duties will be transferred from the Seller to the Buyer in accordance with the Transition Agreement.
Sample 1

Related to Post Closing Administrative Accounting Responsibilities

  • Administrative Responsibilities Client shall be responsible for orienting Consultant to Client’s policies and procedures regarding the submission of any requisite paperwork which must be tendered for reimbursement by funding entities such as Medicare, Medicaid, or health insurance. Such paperwork may include, but is not limited to, patient care plans, comprehensive patient histories, individual education plans, or Client specific program plans. During the contracted assignment, should Consultant fail to submit paperwork as required per Client’s policies and procedures, Client must notify ProCare in writing within three (3) business days of alleged failure. Failure to notify ProCare before assignment ends shall negate any Client claim to withhold payment due to untimely work and/or paperwork non-compliance by Consultant. Client agrees that all approved time sheets by Client’s assigned representative are not subjected to billing dispute if Client fails to notify ProCare of time sheet and work performed discrepancies.

  • Employer Responsibilities Recognizing the inherent risk(s) in a correctional setting, the Employer is obligated to provide a safe workplace and to educate employees on proper safety procedures and use of protective and safety equipment. The Employer is committed to responding to legitimate safety concerns raised by the Union and employees. The Employer will comply with federal and state safety standards, including requirements relating to first aid training, first aid equipment and the use of protective devices and equipment.

  • Provider Responsibilities The Private Child-Caring Facility (PCC) (a.k.a., Provider) must comply with the following requirements:

  • Allocation of Responsibilities The persons responsible for the Plan and the duties and responsibilities allocated to each are as follows:

  • Reporting Responsibilities The IRA Owner agrees to provide the Custodian with information necessary for the Custodian to prepare any reports required under Code Sections 408(i), 408A(d)(3)(D), and Regulations Sections 1.408-5 and 1.408-6. The Custodian agrees to submit reports to the IRS and the IRA Owner (or Beneficiary(ies) upon the IRA Owner’s death) as prescribed by the IRS and such additional reports as the Custodian may choose to deliver. The Custodian shall furnish annual calendar-year reports concerning the status of the IRA and such information concerning required minimum distributions as is prescribed by the Commissioner of the IRS.

  • Member Responsibilities The Member’s responsibilities shall include, but are not limited to: 3.17.1. Inform the CONTRACTOR of the loss or theft of ID cards, 3.17.2. Present ID cards when using health care services, 3.17.3. Be familiar with the CONTRACTOR’s Health Plan Procedures to the best of their abilities, 3.17.4. Call or contact the CONTRACTOR to obtain information and have questions clarified, 3.17.5. Provide participating network Providers with accurate and complete medical information, 3.17.6. Follow the prescribed course of care recommended by the Provider or let the Provider know the reasons the treatment cannot be followed, as soon as possible, And 3.17.7. Make every effort to keep a scheduled appointment or cancel an appointment in advance of when it is scheduled.

  • Leave With Pay for Family-Related Responsibilities (a) For the purpose of this clause, “family” is defined as: (i) spouse (including common law spouse resident with the employee); (ii) children (including xxxxxx children, children of legal or common-law partner and xxxx of the employee); (iii) parents (including step-parents or xxxxxx parents), father-in-law, mother-in-law; (iv) brother, sister, step-brother, step-sister; (v) grandparents and grandchildren of the employee; (vi) any relative, residing in the employee’s household or with whom the employee permanently resides; or (vii) any relative for whom the employee has a duty of care, irrespective of whether they reside with the employee. (b) The total leave with pay which may be granted under this clause shall not exceed thirty-seven decimal five (37.5) hours in a fiscal year. (c) At the request of an employee, leave with pay for family related responsibilities may be granted as follows: (i) to take a dependent family member for medical or dental appointments, or for appointments with school authorities or adoption agencies; the employee who requests a leave pursuant to this clause should make every reasonable effort to schedule these appointments to minimize or preclude his or her absence from work; (ii) for the temporary care of a sick member of the employee's family and to provide the employee with time to make alternate care arrangements where the illness is of a longer duration; (iii) for needs directly related to the birth or adoption of his or her child; (iv) to attend school functions, if the supervisor was notified of the functions as far in advance as possible; (v) to provide for the employee’s child in the case of an unforeseeable closure of the school or daycare facility; (vi) seven decimal five (7.5) hours out of the thirty-seven decimal five (37.5) hours stipulated in paragraph (b) above may be used to attend an appointment with a legal or paralegal representative for non-employment related matters, or with a financial or other professional representative, if the supervisor was notified of the appointment as far in advance as possible.

  • Engineer Responsibilities No subcontract relieves the Engineer of any responsibilities under this contract.

  • Joint Responsibilities The relationship between SAE ITC, the Activities and its Members shall be, and at all times, advisory only, and no party shall have the authority to enter into any contract or commitment in the name of, or on behalf of, any other party. Nothing in this Agreement shall be construed to confer upon either party the status of employee, agent, partner, joint venturer or legal representative of the other, it being intended by all parties to remain independent legal entities solely responsible for its own actions.

  • Monitoring Responsibilities The Custodian shall furnish annually to the Fund, during the month of June, information concerning the foreign sub-custodians employed by the Custodian. Such information shall be similar in kind and scope to that furnished to the Fund in connection with the initial approval of this Contract. In addition, the Custodian will promptly inform the Fund in the event that the Custodian learns of a material adverse change in the financial condition of a foreign sub-custodian or any material loss of the assets of the Fund or in the case of any foreign sub-custodian not the subject of an exemptive order from the Securities and Exchange Commission is notified by such foreign sub-custodian that there appears to be a substantial likelihood that its shareholders' equity will decline below $200 million (U.S. dollars or the equivalent thereof) or that its shareholders' equity has declined below $200 million (in each case computed in accordance with generally accepted U.S. accounting principles).

Most Referenced Clauses

Most Referenced Definitions