Suspense Funds definition

Suspense Funds means proceeds of production and associated penalties and interest in respect of any of the Properties that are payable to Third Parties and are being held in suspense by Seller as the operator of such Properties.

Suspense Funds means all amounts controlled by the Target Group and its Affiliates that are held in suspense and are attributable to the Oil & Gas Assets (including any such amounts attributable to other Working Interest owners’ interest in such assets).

Suspense Funds means all positive funds held in suspense (including positive funds held in suspense for unleased interests) by Seller or its Affiliates that are attributable to the Assets.

Examples of Suspense Funds in a sentence

• From and after Closing, Buyer shall be responsible for the proper payment and distribution of such Suspense Funds to those third parties legally entitled to receive such Suspense Funds; provided, however, that Buyer’s aggregate liability and responsibility for such payment and distribution shall not exceed the amount of the Suspense Funds actually received by Buyer at Closing.

• Except as set forth on Disclosure Schedule 5.20, as of the date set forth on such Schedule, Seller does not hold any material third party Suspense Funds.

• In the event Seller is holding any Suspense Funds in cash as of the Closing Date, Seller shall transfer and pay to Buyer at the Closing (together with all supporting detail) all such Suspense Funds by wire transfer of immediately available funds to an account specified in writing by Buyer prior to the Closing Date.

More Definitions of Suspense Funds

Suspense Funds means any and all Royalties held in suspense by any member of the Company Group as of the Closing, and any interest accrued in escrow accounts for such suspended funds.

Suspense Funds has the meaning as set forth in Section 9.1.

Suspense Funds means proceeds of production and associated penalties and interest in respect of any of the Operated Xxxxx Properties that are payable to Third Parties and are being held in suspense by LINN as the operator of such Operated Xxxxx Properties.

Suspense Funds means all proceeds of production from the sale of Hydrocarbons attributable to the Assets, and penalties and interest with respect thereto, payable to owners of working interests, Burdens or similar interests but, in each case, held in suspense by Seller or its Affiliates.

Suspense Funds means Royalties or net revenues payable to Third Party Working Interest owners in respect of any of the Assets that are payable to Third Parties and are being held in suspense by Seller as the owner or operator of such Assets, and any interest accrued in escrow accounts for such suspended funds.

Suspense Funds means, as the context requires, as to (a) each Seller, or (b) all Sellers, collectively, all amounts held in suspense by any such Seller that are attributable to such Seller’s Assets.

Suspense Funds means, with respect to any Serviced Mortgage Loan, the related funds received by the Servicer that are in the process of being finally applied.