Proceeds and Expenses. The Vendor is entitled to the proceeds received from, and shall pay all amounts payable in respect of, the Sale Interest up to and including the Effective Date. The Vendor is responsible for any tax, levy, encumbrance that any PRC Governmental Agency imposes on the Vendor that relates directly to its transfer of the Sale Interest.
Appears in 5 contracts
Samples: Asset Transfer Agreement, Asset Transfer Agreement (Pacific Asia Petroleum Inc), Asset Transfer Agreement (Pacific Asia Petroleum Inc)
Proceeds and Expenses. The Vendor is entitled to the proceeds received from, and shall pay all amounts payable in respect of, the Sale Interest up to and including the Effective Date. The Vendor is responsible for any tax, levy, encumbrance that any PRC Governmental Agency imposes on the Vendor that relates directly to its transfer of the Sale Interest.. Asset Transfer Agreement
Appears in 1 contract
Samples: Asset Transfer Agreement (Pacific Asia Petroleum Inc)
