Common use of Additional Proceeds Clause in Contracts

Additional Proceeds. (a) If at any time and from time to time, after the last date for which proceeds have been received and reflected in the Final Post-Closing Purchase Price Adjustment Amount, Buyer receives any proceeds attributable to the Purchased Assets that are attributable to any period prior to the Effective Time, as calculated in accordance with GAAP and Section 1.7, Buyer shall promptly pay to Sellers (allocated amongst the Sellers based upon the ratios set forth on Schedule 1.5) all such proceeds.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Contango Oil & Gas Co), Asset Purchase Agreement (Contango Oil & Gas Co)

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Additional Proceeds. (a) If at any time and from time to timetime prior to the Cut-off Date, after the last date for which proceeds have been received and reflected in the Final Post-Closing Purchase Price Adjustment Amount, Buyer receives any proceeds attributable to the Purchased Assets that are attributable to any period prior to the Effective Time, as calculated in accordance with GAAP and Section 1.7, Buyer shall promptly pay to Sellers (allocated amongst the Sellers based upon the ratios set forth on Schedule 1.5) Seller all such proceeds.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Linn Energy, LLC)

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Additional Proceeds. (a) If at any time and from time to time, after the last date for which proceeds have been received and reflected in the Final Post-Closing Purchase Price Adjustment Amount, Buyer receives any proceeds attributable to the Purchased Assets that are attributable to any period prior to the Effective Time, as calculated in accordance with GAAP and Section 1.7, Buyer shall promptly pay to Sellers (allocated amongst the Sellers based upon the ratios set forth on Schedule 1.5) Seller all such proceeds.

Appears in 1 contract

Samples: Asset Purchase Agreement (Southwestern Energy Co)

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