RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS Sample Clauses

RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS. A. PAYMENTS, TAXES, EMPLOYEE OBLIGATIONS. Seller shall be responsible for all rentals, contractual payments, compensation owed to employees, operating costs, expenses, fees, vendor and contractor invoices, xxxxxxxx, Taxes, charges, any claims for overcharges or rate discrimination or other complaints under or pertaining to Seller's tariffs (including rates and regulations), assessments and other indebtedness and obligations attributable to the ownership, operation, use or maintenance of the Property prior to the Effective Time. Buyer shall be responsible for all such payments and obligations attributable to the ownership, operation, use or maintenance of the Subject Interest on and after the Effective Time. Seller shall be responsible for all Taxes attributable to the ownership, operation, use or maintenance of the Property on or before the Closing Date and Buyer shall be responsible for all Taxes arising from the ownership, operation or maintenance of the Subject Interest first arising after the Closing Date. The Parties agree that the Buyer is not the successor employer to any employee of Seller whether or not hired by Buyer, and Buyer does not assume any obligations or liabilities of Seller to such employees.
Sample 1
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RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS. Seller shall be responsible for (i) all lease rentals, shut-in-royalties, minimum royalties, payments in lieu of production, production royalties (including royalties paid in kind), overriding royalties, production payments and net profits payments, and (ii) all operating costs, vendor and contractor invoices and other liquidated monetary obligations of Seller that in each case accrued prior to the Effective Time and are attributable to the ownership, operation, use or maintenance of or otherwise relate to the Interests. Purchaser shall be responsible for all of the above described payments and obligations that have accrued or may accrue on and after the Effective Time, and EXHIBIT 10.20 shall reimburse Seller for any such payments or obligations paid by Seller on or after the Effective Time. Additionally, Seller shall be responsible for the settlement of all joint billing audits which relate to accounting periods prior to the Effective Time. Purchaser shall be responsible for the settlement of all joint billing audits which relate to accounting periods on and after the Effective Time. Any credits received by Purchaser after the Effective Time attributable to expenses paid prior to the Effective Time shall be paid to Seller by Purchaser within fifteen (15) days of Purchaser's receipt thereof. If Seller receives after Closing any revenues or invoices that are attributable to periods after the Effective Time, then Seller shall deliver such revenues with appropriate supporting detail or unpaid invoices to Purchaser within three business days of receipt.
Sample 1
RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS. Seller shall be responsible for (i) all lease rentals and (ii) all operating costs, vendor and contractor invoices and other liquidated monetary obligations of Seller that in each case accrued prior to the Effective Time and are attributable to the ownership, operation, use or maintenance of or otherwise relate to the Interests. Purchaser shall be responsible for all of the abovedescribed payments and obligations that have accrued or may accrue on and after the Effective Time, and shall reimburse Seller for any such payments or obligations paid by Seller on or after the Effective Time. Notwithstanding the foregoing, Seller agrees to make on behalf of Purchaser all of the payments referred to in item (i) above for a period ending April 30, 1997, unless Purchaser directs Seller in writing not to make any such payment. These amounts shall be set forth in the Settlement Statement and reflected in the Adjusted Sale Price.
Sample 1
RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS. 13.01 Seller shall be responsible for the payment of (i) all lease rentals, shut-in-royalties, minimum royalties, payments in lieu of production, production royalties (including royalties paid in kind), overriding royalties, production payments and net profits payments, and (ii) all operating costs, vendor and contractor invoices and other liquidated monetary obligations of Seller that in each case accrued prior to the Closing Date and are attributable to the ownership, operation, use or maintenance of or otherwise relate to the Interests. Purchaser shall be responsible for the payment of all of the above described payments and obligations that have accrued or may accrue on and after the Closing Date. Purchaser shall reimburse Seller for any such payments or obligations paid by Seller on or after the Effective Time, to the extent and only to the extent such payments or obligations pertain to the ownership, operation, use or maintenance of the Interests on or after the Effective Time. Likewise, Seller shall reimburse Purchaser for any such payment or obligations paid by Purchaser on or after the Effective Time, to the extent and only to the extent such payments or obligations pertain to the ownership, operation, use or maintenance of the Interests prior to the Effective Time.
Sample 1
RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS. Seller shall be responsible for all lease rentals, shut-in royalties, minimum royalties, payments in lieu of production, production royalties (including royalties paid in kind), overriding royalties, production payments, net profits payments, contractual payments, operating costs, expenses, fees, vendor and contractor invoices, xxxxxxxx, taxes, charges and assessments relating to the Property prior to the Effective Date. Buyer shall be responsible for all such payments and obligations attributable to the Property on and after the Effective Date. Between the Effective Date and the Closing Date, Seller shall pay when due all such obligations and shall be credited for any such payments in the Closing Settlement Statement and the Final Settlement Statement. Any of such obligations which are for a period of time which includes periods before and after the Effective Date shall be prorated for the applicable period in the Closing Settlement Statement and Final
Sample 1
RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS. Seller shall be responsible for (i) all lease rentals, shut-in-royalties, minimum royalties, payments in lieu of production, production royalties (including royalties paid in kind), overriding royalties, production payments and net profits payments, and (ii) all operating costs, vendor and contractor invoices and other liquidated monetary obligations of Seller that in each case accrued prior to the Effective Time and are attributable to the ownership, operation, use or maintenance of or otherwise relate to the Interests. Purchaser shall be responsible for all of the above-described
Sample 1

Related to RESPONSIBILITY FOR PAYMENTS AND OBLIGATIONS

  • Expenses and Obligations Except as otherwise expressly provided in this Agreement, all costs and expenses incurred by the parties hereto in connection with the transactions contemplated by this Agreement shall be borne solely and entirely by the party that has incurred such expenses.

  • Independent Nature of Rights and Obligations Nothing contained herein, and no action taken by any party pursuant hereto, shall be deemed to constitute Investor and the Sponsor as, and the Sponsor acknowledges that Investor and the Sponsor do not so constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption that Investor and the Sponsor are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any matters, and the Sponsor acknowledges that Investor and the Sponsor are not acting in concert or as a group, and the Sponsor shall not assert any such claim, with respect to such obligations or the transactions contemplated by this Agreement.

  • Rights and Obligations of the Parties 2.1 During the term of this Agreement, Party A’s rights and obligations include:

  • Duties and Obligations of BNY (a) Subject to the direction and control of each Fund’s Board and the provisions of this Agreement, BNY shall provide to each Fund (i) the administrative services set forth on Schedule I attached hereto and (ii) the valuation and computation services listed on Schedule II attached hereto.

  • Rights and Obligations of Both Parties 5.1 Party A’s rights and Obligations

  • Continuing Rights and Obligations After the satisfaction and discharge of this Indenture, this Indenture will continue for (i) rights of registration of transfer and exchange, (ii) replacement of mutilated, destroyed, lost or stolen Notes, (iii) the rights of the Noteholders to receive payments of principal of and interest on the Notes, (iv) the obligations of the Indenture Trustee and any Note Paying Agent under Section 3.3, (v) the rights, obligations and immunities of the Indenture Trustee under this Indenture and (vi) the rights of the Secured Parties as beneficiaries of this Indenture in the property deposited with the Indenture Trustee payable to them for a period of two years after the satisfaction and discharge.

  • Liabilities and Obligations 33 6.8 Conformity with Law; Litigation.................................33 6.9 No Violations...................................................33 6.10

  • Parties' Rights and Obligations If during the Term there is any Taking of all or any part of the Leased Property or any interest in this Lease by Condemnation, the rights and obligations of the parties shall be determined by this Article XV.

  • Duties and Obligations The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02), and, (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Loan Party or any Subsidiary that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or in the absence of its own gross negligence or willful misconduct as determined by a final nonappealable judgment of a court of competent jurisdiction. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection with any Loan Document, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, (v) the creation, perfection or priority of Liens on the Collateral or the existence of the Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.

  • Covenants and Obligations The covenants and obligations of Seller in this Agreement shall have been performed in all material respects.

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