Common use of Transfer of Trust Property to the Trust Clause in Contracts

Transfer of Trust Property to the Trust. Upon the formation of the Trust, Boaz Energy paid good and valuable consideration to the Trust, in trust, for the uses and purposes provided in the Organizational Trust Agreement and in this Agreement. At (and subject to the occurrence of) the Closing the following transactions will occur: (a) The Trust and Boaz Energy shall enter into the Conveyance pursuant to which Boaz Energy shall, or shall cause its Affiliates to, grant, bargain, sell, convey and assign to the Trust, for the uses and purposes provided herein, the Net Profits Interest in consideration for [·] Trust Units to be issued by the Trust to Boaz Energy, which Trust Units shall collectively represent the entire Beneficial Interest in accordance with Section 4.01. The issuance of [·] Trust Units is hereby duly authorized and, upon issuance at the Closing, such Trust Units shall be duly and validly issued and outstanding and, upon receipt by the Trust at the Closing of the consideration described above, the Trust Units will be fully paid and nonassessable without the requirement of any further consideration. (b) Boaz Energy and the Trustee, on behalf of the Trust, shall enter into the Registration Rights Agreement.

Transfer of Trust Property to the Trust. Upon the formation of the Trust, Boaz Energy paid good and valuable consideration to the Trust, in trust, for the uses and purposes provided in the Organizational Trust Agreement and in this Agreement. At (and subject to the occurrence of) the Closing the following transactions will occur: (a) The Trust and Boaz Energy shall enter into the Conveyance pursuant to which Boaz Energy shall, or shall cause its Affiliates to, grant, bargain, sell, convey and assign to the Trust, for the uses and purposes provided herein, the Net Profits Interest in consideration for [·] 12,165,732 Trust Units to be issued by the Trust to Boaz Energy, which Trust Units shall collectively represent the entire Beneficial Interest in accordance with Section 4.01. The issuance of [·] 12,165,732 Trust Units is hereby duly authorized and, upon issuance at the Closing, such Trust Units shall be duly and validly issued and outstanding and, upon receipt by the Trust at the Closing of the consideration described above, the Trust Units will be fully paid and nonassessable without the requirement of any further consideration, and no Trust Unitholder shall have any preemptive rights to subscribe to any additional issue of Trust Units. (b) Boaz Energy and the Trustee, on behalf of the Trust, shall enter into the Registration Rights Agreement.