Suspense Funds Sample Clauses

Suspense Funds. Schedule 5.07 sets forth (a) all funds held in suspense by Seller or any of its affiliates as of the date hereof that are attributable to the Assets, (b) a description of the source of such funds and the reason they are being held in suspense and (c) if known, the name or names of the Persons claiming such funds or to whom such funds are owed.

Suspense Funds. Buyer acknowledges that Suspense Funds may exist that are associated with the Properties and Buyer shall be responsible for such Suspense Funds after Closing. Seller shall transfer all Suspense Funds and the obligation for the Suspense Funds to Buyer by adjustments to the Purchase Price in the Final Accounting Statement. Notwithstanding anything contained in this Agreement to the contrary, including Article 8: (a) If Closing occurs, Buyer, from and after Closing, accepts sole responsibility for and agrees to pay all costs and expenses associated with Suspense Funds (including any additional fines, penalties or interest (i) that accrue prior to Closing to the extent, but only to the extent, that the Suspense Funds delivered to Buyer include such amounts and (ii) that may accrue after Closing), and Buyer (on behalf of Buyer Group and their successors and assigns) irrevocably waives any and all claims they may have against Seller Group associated with the same; and (b) If Closing occurs, Buyer (on behalf of Buyer Group and their successors and assigns), from and after Closing, releases Seller Group from and shall fully protect, defend, indemnify and hold Seller Group harmless from and against any and all claims and Claims relating to, arising out of, or connected with, directly or indirectly, Suspense Funds (including any additional fines, penalties or interest (i) that accrue prior to Closing to the extent, but only to the extent, that the Suspense Funds delivered to Buyer include such amounts and (ii) that may accrue after Closing), no matter when asserted. This indemnity and defense obligation applies regardless of cause or of any negligent acts or omissions (including active or passive, sole, concurrent or comparative negligence), strict liability, breach of duty (statutory or otherwise),violation of Law, or other fault of Seller Group, or any pre-existing defect.

Suspense Funds. Schedule 4.17 lists (a) all funds held in suspense by Seller as of the date hereof that are attributable to the Assets, (b) a description of the source of such funds and the reason they are being held in suspense, and (c) if known, the name or names of the Persons claiming such funds or to whom such funds are owed.

Suspense Funds. Schedule 7.22 lists all Suspense Funds as of the Effective Time. To the Company’s Knowledge, all proceeds from the sale of Hydrocarbons produced from the Oil & Gas Assets are being received by the Company in a timely manner and are not being held in suspense.

Suspense Funds. Schedule 4.20 sets forth a true, complete and accurate list, as of the date set forth on Schedule 4.20, of all Suspense Funds held by Seller or any of its Affiliates that are attributable to the Assets, which includes, to Seller’s knowledge, with respect to all such Suspense Funds (a) the amount and value of such Suspense Funds, (b) a description of the source of such funds (including, if applicable, the applicable Property name), (c) the reason such funds are being held in suspense and (d) the name or the names of the Person(s) claiming such funds or to whom such funds are owed. To Seller’s Knowledge, as of the Execution Date, no share of Hydrocarbon proceeds attributable to Seller’s interest in the Assets to which Seller is entitled is currently being held in suspense by the applicable third-party operator or payor thereof.

Suspense Funds matters that Buyer waives in writing;

Suspense Funds. Schedule 10.1.11 (which will be delivered within 5 Business Days of the date hereof) will set forth all suspense funds held by Seller for the account of a third party or an Affiliate of Seller that are associated with the Properties as of December 31, 2009, except minimum suspense accounts that will be cleared prior to Closing.

Suspense Funds. Except as set forth in Schedule 3.2.6, Seller does not hold (in escrow or otherwise) any third-Person funds in suspense with respect to production of Hydrocarbons from any of the Property as of the Effective Time. Schedule 3.2.6 sets forth, to Seller’s Knowledge, the third-Person payees of such funds and the amounts owed to each such third-Person payee.

Suspense Funds. Schedule 4.24 lists all material suspense funds held in suspense by Seller as of the Effective Time.