Receipts and Credits. Subject to the terms hereof and except to the extent same have already been taken into account as an adjustment to the Purchase Price, all monies, proceeds, receipts, credits and income attributable to the ownership and operation of the Assets (a) for all periods of time from and subsequent to the Effective Time, shall be the sole property and entitlement of Purchaser, and to the extent received by Seller, Seller shall within 10 business days after such receipt, fully disclose, account for and transmit same to Purchaser and (b) for all periods of time prior to the Effective Time, shall be the sole property and entitlement of Seller and, to the extent received by Purchaser, Purchaser shall fully disclose, account for and transmit same to Seller within 10 business days. Subject to the terms hereof and except to the extent same have already been taken into account as an adjustment to the Purchase Price, all costs, expenses, disbursements, obligations and liabilities attributable to the Assets (i) for periods of time prior to the Effective Time, regardless of when due or payable, shall be the sole obligation of Seller and Seller shall promptly pay, or if paid by Purchaser, promptly reimburse Purchaser for and hold Purchaser harmless from and against same and (ii) for periods of time from and subsequent to the Effective Time, regardless of when due or payable, shall be the sole obligation of Purchaser and Purchaser shall promptly pay, or if paid by Seller, promptly reimburse Seller for and hold Seller harmless from and against same.
Receipts and Credits. The Final Accounting notwithstanding, all monies, proceeds, receipts, credits and income attributable to the Assets for all periods of time subsequent to the Effective Date except as otherwise provided herein, shall be the sole property and entitlement of Buyer, and to the extent received by Unocal, Unocal shall account for and reflect the same to Buyer in the Final Accounting after Closing. All monies, proceeds, receipts and income attributable to the Assets except as otherwise provided in this Agreement for all periods of time prior to the Effective Date shall be the sole property and entitlement of Unocal and, to the extent received by Buyer, Buyer shall fully disclose, account for and transmit same to Unocal promptly. All costs, expenses and disbursements attributable to the Assets for periods of time prior to the Effective Date except as otherwise provided herein, regardless of when due or payable, shall be the sole obligation of Unocal and Unocal shall promptly pay, or if paid by Buyer, promptly reimburse Buyer for and hold Buyer harmless from and against same. All costs, expenses and disbursements attributable to the Assets for periods of time subsequent to the Effective Date regardless of when due or payable, shall be the sole obligation of Buyer and Buyer shall promptly pay, or if paid by Unocal, promptly reimburse Unocal for and hold Unocal harmless from and against same. Unocal shall be entitled to a credit for and reimbursement in an amount equal to any amount received by Buyer after Closing for any delivery or performance by Unocal prior to the Effective Date, and Buyer shall be entitled to a credit for and reimbursement in an amount equal to any amount received by Unocal after Closing for any delivery or performance by Buyer after the Effective Date.
Receipts and Credits. Subject to the terms hereof and except to the extent same have already been taken into account as an adjustment to the Purchase Price, all monies, proceeds, receipts, credits, and income accruing to the Properties (a) for the period subsequent to the Effective Time, shall be the sole property and entitlement of Buyer, and, to the extent received by Seller, Seller shall fully disclose, account for, and transmit same to Buyer promptly, and (b) for the period prior to the Effective Time, shall be the sole property and entitlement of Seller and, to the extent received by Buyer, Buyer shall fully disclose, account for, and transmit same to Seller promptly.
Receipts and Credits. Except as otherwise provided in this Agreement,
Receipts and Credits. 23 11.4 RECOVERY OF TAXES PAID ON BEHALF OF OTHER OWNERS . . . . . . . 24 11.5 SIGNS . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 11.6 RECORDS . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 11.7 NOTICES . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 11.8
Receipts and Credits. Subject to the terms hereof and except to the extent same have already been taken into account as an adjustment to the Purchase Price, all monies, proceeds, receipts, credits, and income attributable to the Properties (i) for the period prior to the Effective Time shall be the sole property and entitlement of Seller, and to the extent received by Buyer, Buyer shall fully disclose, account for, and transmit same to Seller promptly, and (ii) for the
Receipts and Credits. (a) Subject to the terms hereof, all monies, proceeds, receipts, credits and income attributable to the System Assets (as determined in accordance with GAAP consistent with past practices) (i) for all periods of time at, from and after 12:01 a.m. Houston, Texas time on the first day of the calendar month in which the Closing occurs (the “Accounting Time”), shall be the sole property and entitlement of the Recipient Parties, and, to the extent received by any Contributing Party or one of its Affiliates, shall be promptly accounted for and transmitted to the appropriate Recipient Party and (ii) for all periods of time prior to the Accounting Time, shall be the sole property and entitlement of the Contributing Parties and, to the extent received by any Recipient Party, shall be promptly accounted for and transmitted to the appropriate Contributing Party.
Receipts and Credits. (a) Subject to the terms hereof, all monies, proceeds, receipts, credits and income attributable to the MGR Assets (as determined in accordance with GAAP consistent with past practices) (i) for all periods of time at, from and after 12:01 a.m. Houston, Texas time on the first day of January 2012 (the “Accounting Time”), shall be the sole property and entitlement of MGR, and, to the extent received by any Contributing Party or one of its Affiliates, shall be promptly accounted for and transmitted to MGR and (ii) for all periods of time prior to the Accounting Time, shall be the sole property and entitlement of the Contributing Parties and, to the extent received by MGR, shall be promptly accounted for and transmitted to a Contributing Party or Anadarko. The Parties acknowledge that because of cash management systems in place, all monies, proceeds, receipts, credits and income attributable to the MGR Assets, to the extent actually received by MGR or a Contributing Party prior to the Closing Date, will have already been transmitted to a Contributing Party or Anadarko and therefore that all monies, proceeds, receipts, credits and income attributable to the MGR Assets from and after the Accounting Time must be transmitted to MGR.
Receipts and Credits. (a) With respect to each Asset, all monies, proceeds, distributions, receipts, credits and income attributable thereto (as determined in accordance with generally accepted accounting principles in the United States (“GAAP”) consistent with the applicable Contributor’s past practices) (i) for all periods of time at, from and after the Contribution Effective Date, shall be the sole property and entitlement of Rattler, and, to the extent received by any Contributor or any of its other subsidiaries or affiliates, shall be promptly accounted for and transmitted to Rattler, and (ii) for all periods of time prior to the Contribution Effective Date, shall be the sole property and entitlement of the applicable Contributor and, to the extent received by Rattler, shall be promptly accounted for and transmitted to such Contributor.
Receipts and Credits. Subject to the terms hereof, all monies, proceeds, receipts, credits and income attributable to the System Assets (as determined in accordance with GAAP consistent with past practices) (i) for all periods of time at, from and after the Effective Time, shall be the sole property and entitlement of the Recipient Parties, and, to the extent received by any Contributing Party or one of its Affiliates, shall be promptly accounted for and transmitted to the appropriate Recipient Party and (ii) for all periods of time prior to the Effective Time, shall be the sole property and entitlement of the Contributing Parties and, to the extent received by any Recipient Party, shall be promptly accounted for and transmitted to the appropriate Contributing Party. In addition, subject to the terms hereof, all invoices, costs, expenses, disbursements and payables attributable to the System Assets (as determined in accordance with GAAP consistent with past practices) (A) for all periods of time at, from and after the Effective Time, shall be the sole obligation of the Recipient Parties, and the Recipient Parties shall promptly pay or, if paid by any Contributing Party, promptly reimburse such Contributing Party for, same and (B) for all periods of time prior to the Effective Time, shall be the sole obligation of the Contributing Parties, and the Contributing Parties shall promptly pay or, if paid by any Recipient Party, promptly reimburse such Recipient Party for, same. Any amounts owing to a Party in accordance with the previous two sentences before the delivery of the revised settlement statement pursuant to Section 2.6(b) shall be included in the Final Settlement Statement and paid at the time set forth in Section 2.6(d). For avoidance of doubt, adjustments pursuant to this Section 3.4 shall not constitute adjustments of the Cash Consideration or Unit Consideration. Section 3.5
