Record Title. For purposes of applying the provisions of this Exhibit D, (a) all legal title to Designated Property held by any Party shall be deemed to be held by such Party strictly as nominee for the Tax Partnership, (b) all assignments made among the Parties with respect to Designated Property prior to termination of the Tax Partnership shall be disregarded, and (c) upon termination of the Tax Partnership each Party holding record title to any Designated Property shall make such assignments as are required to comply with the provisions of the Agreement.
Appears in 18 contracts
Samples: Participation Agreement (Clayton Williams Energy Inc /De), Participation Agreement (Clayton Williams Energy Inc /De), Participation Agreement (Clayton Williams Energy Inc /De)
Record Title. For purposes of applying the provisions of this Exhibit DB, (a) all legal title to Designated Property held by any Party shall be deemed to be held by such Party strictly as nominee for the Tax Partnership, (b) all assignments made among the Parties with respect to Designated Property prior to termination of the Tax Partnership shall be disregarded, and (c) upon termination of the Tax Partnership each Party holding record title to any Designated Property shall make such assignments as are required to comply with the provisions of the Agreement.. ARTICLE III
Appears in 1 contract
Samples: Participation Agreement (Clayton Williams Energy Inc /De)
