Suspense Accounts and Division of Interest Sample Clauses

Suspense Accounts and Division of Interest. At the Closing, each of Laramie and Delta will provide to the Company (a) information regarding all of Laramie’s or Delta’s, as applicable, accounts holding moneys in suspense together with a written explanation (as contained in Laramie or Delta, as applicable, files) of why such moneys are held in suspense or other information identifying the proper disposition of such moneys and (b) Laramie’s or Delta’s, as applicable, division of interest and all supporting documentation regarding those royalty owners and working interest owners in the Leases for whom Laramie’s or Delta’s, as applicable, disburses proceeds of production. The Company agrees to take and apply such moneys in a manner consistent with prudent oil and gas business practices and the information supplied by Laramie’s or Delta’s, as applicable, and to indemnify Laramie’s or Delta’s, as applicable, against any claim relating to the failure to pay such funds after the Closing.
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Suspense Accounts and Division of Interest. Seller will deliver to Buyer (a) all of Seller’s accounts holding moneys related to the Assets in suspense together with a written explanation of why such moneys are held in suspense and any other information in the possession or control of Seller that identifies the proper payees of such moneys or describes any attempts to date to identify the proper payees; and (b) Seller’s division of interest for the Xxxxx, divisions of interest for Xxxxx operated by third parties, and all supporting documentation regarding those royalty owners and working interest owners in the Leases for whom Seller, or third parties acting on behalf of Seller, disburses proceeds of production, together with all accounts holding funds payable to such third parties. Buyer agrees to take and apply such moneys in a manner consistent with prudent oil and gas business practices and the information supplied by Seller at Closing, and to indemnify Seller against any claim arising from or relating to the failure of to pay such funds after the Closing (a “Suspense Claim”) in accordance with the instructions or information delivered to Buyer by Seller, except for claims against Seller based upon Seller’s intentional misconduct, gross negligence or fraud. Notwithstanding anything in this Agreement to the contrary, the foregoing indemnification obligation shall not apply to, and Seller shall remain liable for, any amount of a Suspense Claim in excess of the amount of suspense funds transferred from Buyer to Seller with respect to the Suspense Claim but only to the extent such deficient amount relates to production prior to the Effective Date of this Agreement.
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Suspense Accounts and Division of Interest. Schedule 6.15 sets forth complete and accurate information regarding all proceeds of production held in suspense by the Seller or third parties with respect to the operation of the Assets by the Seller (the "Suspense Amounts") as of the Closing and (b) any division of interest of the Seller and all supporting documentation regarding those royalty owners, overriding royalty owners, working interest owners or other owners for whom Seller disburses proceeds of production.
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Suspense Accounts and Division of Interest. At least three (3) days prior to the Closing, Seller will supplement Schedule 6.15 to provide to Buyer (a) information regarding all of Seller’s accounts holding moneys in suspense together with a written explanation (as contained in Seller’s files) of why such moneys are held in suspense or other information identifying the proper disposition of such moneys and (b) Seller’s division of interest and all supporting documentation regarding those royalty owners and working interest owners in the Leases for whom Seller disburses proceeds of production, together with all accounts holding funds payable to such third parties. Upon Closing Buyer agrees to distribute the suspense moneys in a manner consistent with prudent oil and gas business practices and the information supplied by Seller and to indemnify Seller against any claim relating to the failure to pay such funds after the Closing.
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Related to Suspense Accounts and Division of Interest

  • Determination of Interest (a) The Administrative Agent shall determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Accrual Period and shall advise the Collateral Agent, the Collateral Manager and the Borrower thereof on the third Business Day prior to such Payment Date.

  • Calculation of interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Accounts and Disbursements The Custodian shall establish and maintain a separate account for each Portfolio and shall credit to the separate account all moneys received by it or a Sub-Custodian for the account of such Portfolio and shall disburse, or cause a Sub-Custodian to disburse, the same only:

  • Computation of Interest and Related Fees All interest and fees under each Financing Document shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding of a Loan shall be included in the calculation of interest. The date of payment of a Loan shall be excluded from the calculation of interest. If a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged.

  • Calculation of Interest and Fees All calculations of interest and fees under this Agreement and the other Credit Documents for any period (a) shall include the first day of such period and exclude the last day of such period and (b) shall be calculated on the basis of a year of 360 days for actual days elapsed, except that during any period any Loan bears interest based upon the Prime Rate, such interest shall be calculated on the basis of a year of 365 or 366 days, as appropriate, for actual days elapsed.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Custodial Accounts and Buydown Fund Accounts The Master Servicer shall cause to be established and maintained by each Servicer under the Master Servicer's supervision the Custodial Account for P&I, Buydown Fund Accounts (if any) and special Custodial Account for Reserves and shall deposit or cause to be deposited therein daily the amounts related to the Mortgage Loans required by the Selling and Servicing Contracts to be so deposited. Proceeds received with respect to individual Mortgage Loans from any title, hazard, or FHA insurance policy, VA guaranty, Primary Insurance Policy or other insurance policy (other than any Special Primary Insurance Policy) covering such Mortgage Loans, if required for the restoration or repair of the related Mortgaged Property, may be deposited either in the Custodial Account for Reserves or the Custodial Account for P&I. Such proceeds (other than proceeds from any Special Primary Insurance Policy), if not required for the restoration or repair of the related Mortgaged Property, shall be deposited in the Custodial Account for P&I, and shall be applied to the balances of the related Mortgage Loans as payments of interest and principal. The Master Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Custodial Accounts for Reserves for the purposes required or permitted by this Agreement. Each Custodial Account for P&I and each Custodial Account for Reserves shall bear a designation clearly showing the respective interests of the applicable Servicer, as trustee, and of the Master Servicer, in substantially one of the following forms:

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