Common use of Receipts and Credits Clause in Contracts

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. The Final Accounting notwithstanding, all 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 BuyerBuyer and, and to the extent received by Unocal, Unocal shall fully disclose, account for and reflect the same to Buyer in the Final Accounting or otherwise transmit same to Buyer promptly after Closing. All monies, proceeds, receipts receipts, credits and income attributable to the Assets except as otherwise provided in this Agreement for all periods of time prior to the Effective Date except as otherwise provided herein 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 except as otherwise provided herein, 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. The Final Accounting Settlement Statement notwithstanding, all monies, proceeds, receipts, credits credits, income and income other things of value attributable to the Assets Interests 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 UnocalSeller, Unocal Seller shall account for and reflect refund the same to Buyer in the Final Accounting Settlement Statement after Closing. All monies, proceeds, receipts receipts, credits, income and income other things of value attributable to the Assets Interests, except as otherwise provided in this Agreement for all periods of time prior to the Effective Date Date, shall be the sole property and entitlement of Unocal Seller and, to the extent received by Buyer, Buyer shall fully disclose, account for and transmit same to Unocal Seller promptly. All costs, expenses and disbursements attributable to the Assets Interests 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 Seller and Unocal Seller 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 Interests 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 UnocalSeller, promptly reimburse Unocal Seller for and hold Unocal Seller harmless from and against same. Unocal Seller 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 Seller 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 Seller after Closing closing for any delivery or performance by Buyer after the Effective Date. Notwithstanding any of the foregoing in this sub-Section, Seller shall forward to Buyer on a regular basis all proceeds and receipts of funds and all bills and assessments for the Interests for production for periods after the Effective Date, and Buyer shall forward to Seller on a regular basis all proceeds and receipts of funds and all bills and assessments for the Interests for production or periods prior to the Effective Date.

Receipts and Credits. The Final Accounting notwithstanding, all 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 the Buyer, and to the extent received by Unocal, Unocal Seller shall fully disclose and account for and reflect the same to Buyer in Buyer, including any monies collected from Working Interest Owners pursuant to a 'cash call" for work invoiced but not completed as of the Final Accounting after ClosingEffective Date. 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, Seller and Buyer shall fully disclose, account for and transmit same to Unocal Seller promptly. All costs, expenses expenses, and disbursements disbursements, with the exception of taxes, attributable to the Assets for periods the period of time prior to the Effective Date except as otherwise provided hereinDate, regardless of when due or payable, shall be the sole obligation of Unocal Seller and Unocal Seller shall promptly pay, or if paid by Buyer, promptly reimburse Buyer for and hold Buyer harmless from and against same. All costs, expenses expenses, and disbursements attributable to the Assets for periods of time subsequent to the Effective Date Date, regardless of when due or payable, shall be the sole obligation of Buyer and Buyer shall promptly paythe Buyer, or if paid by UnocalSeller, promptly reimburse Unocal for and hold Unocal harmless from and against samereimbursed by the Buyer. Unocal Seller 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 Seller prior to the Effective Date, . All uncollected accounts receivable attributable to the Assets and Buyer incurred after the Effective Date shall be entitled assigned to a credit for and reimbursement in an amount equal Buyer. All taxes owed attributable to any amount received by Unocal after Closing the Assets for any delivery period in time, whether before or performance by Buyer after the Effective Date, will be paid by Buyer.