Common use of Seller’s Obligations after Closing Clause in Contracts

Seller’s Obligations after Closing. After Closing, Seller will retain responsibility for (a) the payment of all operating expenses and capital expenditures related to the Assets and attributable to Seller’s ownership and/or operation of the Assets prior to the Effective Time, but not including the AFEs set forth in Schedule 5.08, (b) severance, ad valorem, production, property, personal property, and similar Taxes measured by the value of the Assets or measured by the production of Hydrocarbons attributable to all periods prior to the Effective Time, (c) the payment of all broker’s and finder’s fees of Seller in connection with the transactions contemplated by this Agreement, (d) the obligations, liabilities, and duties of Seller relating or with respect to the ownership and/or operation of the Assets that are attributable to periods prior to the Effective Time other than the Plugging and Abandonment Obligations and the Environmental Obligations, and (e) Seller’s proportionate share of any third party Claims with respect to payments of lease royalties in respect of the Leases attributable to periods prior to the Effective Time (collectively the “Retained Obligations”).

Seller’s Obligations after Closing. After Closing, each Party comprising Seller will severally, and not jointly, retain responsibility for (a) the payment of all operating expenses and capital expenditures related to the Assets and attributable to Seller’s 's ownership and/or operation of the Assets prior to the Effective Time, but not including the AFEs set forth in Schedule 5.08, (b) severance, ad valorem, production, property, personal property, property and similar Taxes measured by the value of the Assets or measured by the production of Hydrocarbons attributable to all periods from and after the effective date of Seller's ownership of the Assets and prior to the Effective Time, (c) the payment of all broker’s 's and finder’s 's fees of Seller in connection with the transactions contemplated by this Agreement, (d) the obligations, liabilities, liabilities and duties of Seller relating or with respect to the ownership and/or operation of the Assets that are attributable to periods prior to the Effective Time other than the Plugging and Abandonment Obligations and the Environmental Obligations, and (e) Seller’s 's proportionate share of any third party Claims with respect to payments of lease royalties in respect of the Leases attributable to periods prior to the Effective Time during Seller's period of ownership of such Leases (collectively the “"Retained Obligations”").

Seller’s Obligations after Closing. After Closing, each Party comprising Seller will severally, and not jointly, retain responsibility for (a) the payment of all operating expenses and capital expenditures related to the Assets and attributable to Seller’s ownership and/or operation of the Assets prior to the Effective Time, but not including the AFEs set forth in Schedule 5.08, (b) severance, ad valorem, production, property, personal property, property and similar Taxes measured by the value of the Assets or measured by the production of Hydrocarbons attributable to all periods from and after the effective date of Seller’s ownership of the Assets and prior to the Effective Time, (c) the payment of all broker’s and finder’s fees of Seller in connection with the transactions contemplated by this Agreement, (d) the obligations, liabilities, liabilities and duties of Seller relating or with respect to the ownership and/or operation of the Assets that are attributable to periods prior to the Effective Time other than the Plugging and Abandonment Obligations and the Environmental Obligations, and (e) Seller’s proportionate share of any third party Claims with respect to payments of lease royalties in respect of the Leases attributable to periods prior to the Effective Time during Seller’s period of ownership of such Leases (collectively the “Retained Obligations”).