Production Imbalances. Upon Closing, subject to the adjustments described in Section 10.02(b), Buyer shall assume the positions of Seller with respect to all gas imbalances and make-up obligations related to the Assets regardless of whether such imbalances or make-up obligations arise before or after the Effective Time, at the wellhead, pipeline, gathering system, or other location, and regardless of whether the same arise under contract or otherwise (“Production Imbalances”). As a result of such assumption, Buyer shall (a) be entitled to receive any and all benefits which Seller would have been entitled to receive by virtue of its position, including rights to produce and receive volumes of production in excess of volumes which it would otherwise have been entitled to produce and to receive cash gas balancing by virtue of ownership of the Assets, (b) be obligated to suffer any detriments or losses which Seller would have been obligated to suffer by virtue of such position, including the obligation to deliver to others production volumes which would have otherwise been attributable to its ownership of the Assets, to deliver production to purchasers thereof without Buyer receiving full payment therefor, or to make cash balancing payments or to repay any take or pay payments, and (c) be responsible for any and all royalty obligations and other burdens with respect to such Production Imbalances; provided however, nothing in this subsection (a) of Section 3.02 shall relieve Seller from any royalty obligation affecting production Seller has actually received for production occurring prior to the Effective Time.
Production Imbalances. Subject to the provisions of Section 3.02(b), to Seller’s knowledge, there are no Production Imbalances as of the Effective Time as to any of the Subject Interests.
Production Imbalances. Except as set forth in Schedule 1.02(g), to Seller's knowledge, there are no material Production Imbalances as of the Effective Time as to any of the Subject Interests.
Production Imbalances. Except as disclosed on Schedule 10.18, there are no production imbalances attributable to Seller’s, SAGO’s or Altex’s interest in the Properties as of the Effective Time or as of the Closing Date.
Production Imbalances. Seller is not obligated by virtue of a take-or-pay payment, advance payment, or other similar payment (other than royalties, overriding royalties, similar arrangements established in the Leases), to deliver Hydrocarbons, or proceeds from the sale thereof, attributable to Seller’s interest in the Oil and Gas Properties at some future time without receiving payment for the market value thereof at or after the time of delivery. Schedule 5.17 sets forth all Imbalances with respect to Oil and Gas Properties.
Production Imbalances. 20 12.2 Press Releases . . . . . . . . . . . . . . . . . . . . . . . . 21 12.3 Notices . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 12.4 Entirety of Agreement; Amendment . . . . . . . . . . . . . . . 21 12.5 Successors and Assigns . . . . . . . . . . . . . . . . . . . . 21 12.6
Production Imbalances. If there are any production imbalances relating to the Property, Seller transfers all imbalances as of the Effective Date to Buyer. Buyer and Seller hereby agree that if Seller is in fact underproduced as of the Effective Date with respect to any of the Property, the Purchase Price will be increased by any amounts due Seller from third parties (assuming permanent cessation of production as of the Effective Date) as the result of Seller being an underproduced party with regard to gas produced from the Property prior to the Effective Date. Buyer and Seller hereby agree that if Seller is in fact overproduced as of the Effective Date with respect to any of the Property, the Purchase Price will be decreased by any amounts due third parties from Seller (assuming permanent cessation of production as of the Effective Date) as the result of Seller being an overproduced party with regard to gas produced from the Property prior to the Effective Date.
Production Imbalances. Except as set forth on Schedule 4.11, to the Knowledge of each Seller as of the Execution Date, there are no imbalances as of the Effective Date arising from overproduction or underproduction or overdeliveries arising at the wellhead, pipeline, gathering system, transportation system, processing plant or other location with respect to the Assets, including, without limitation, any imbalances under gas balancing or similar agreements or imbalances under processing agreements and imbalances under gathering or transportation agreements.
Production Imbalances. To Seller’s Knowledge, Schedule 3.2.5 sets forth any Production Imbalances and the source of such Production Imbalance as of the Execution Date.
Production Imbalances. The Production Imbalances reflected on Schedule 6.01(i) are, to Seller’s knowledge, (A) all of the material Production Imbalances affecting the Assets as of dates set forth on such Schedule, and (B) true and correct in all material respects. For purposes hereof, “Production Imbalances” means all gas imbalances and make-up obligations related to the Assets regardless of whether such imbalances or make-up obligations arise at the wellhead, pipeline, gathering system or other level, and regardless of whether the same arise under contract or otherwise.
