Common use of Amount and Term Clause in Contracts

Amount and Term. The Production Payment shall continue and remain in full force and effect until the receipt and realization by Grantee from PP Proceeds of the aggregate sum of the amounts specified in the following subsections of this Section 2.2 (herein collectively called the "Total Sum"): (a) the full amount of the Primary Sum; plus (b) an amount equal to the interest which would accrue at the Agreed Rate on the unliquidated balance of the Primary Sum outstanding during the period from the Initial Closing Date (as defined in the Purchase Agreement) to but not including the first Application Date, and thereafter during each period from and including one Application Date to but not including the next occurring Application Date, if the unliquidated balance of the Primary Sum were to bear such interest; plus (c) an amount equal to all Direct Taxes (other than PP Severance Taxes), to the extent such Direct Taxes are paid by any Grantee or Beneficiary should Grantor fail to promptly pay the same as required by Section 2.4, together with an additional amount equal to interest on the amount so paid computed at the Agreed Rate from and including the date any Grantee or Beneficiary pays such Direct Taxes to but not including the earlier of the date such Direct Taxes are either reimbursed by Grantor or paid by the application of PP Proceeds under Section 2.3(a) or added to the unliquidated balance of the Primary Sum under Section 2.3(a); plus (d) an amount equal to all Reimbursable Expenses to the extent paid by any Grantee or any Beneficiary should Grantor fail to promptly pay the same as required by Section 2.4, together with an additional amount equal to interest on the amount so paid computed at the Agreed Rate from and including the date any Grantee or Beneficiary pays such Reimbursable Expenses to but not including the earlier of the date such Reimbursable Expenses are either reimbursed by Grantor or paid by the application of PP Proceeds under Section 2.3(a) or added to the unliquidated balance of the Primary Sum pursuant to Section 2.3(a); plus (e) an amount equal to all Operating Costs to the extent paid by any Grantee or Beneficiary should Grantor fail to promptly pay the same as required by Section 2.4, together with an additional amount equal to interest on the amount so paid, computed at the Agreed Rate from and including the date any Grantee or Beneficiary pays such Operating Costs to but not including the earlier of the date such Operating Costs are either reimbursed by Grantor or paid by the application of PP Proceeds under Section 2.3(a) or added to the unliquidated balance of the Primary Sum pursuant to Section 2.3(a).

Amount and Term. The Production Payment shall continue and remain in full force and effect until the receipt and realization by Grantee from PP Proceeds of the aggregate sum of the amounts specified in the following subsections of this Section 2.2 (herein collectively called the "Total Sum"): (a) the full amount of the Primary Sum; plus (b) an amount equal to the interest which would accrue at the Agreed Rate on the unliquidated balance of the Primary Sum outstanding during the period from the Initial Closing Date (as defined in the Purchase Agreement) to but not including the first Application Date, and thereafter during each period from and including one Application Date to but not including the next occurring Application Date, if the unliquidated balance of the Primary Sum were to bear such interest; plus (c) an amount equal to all Direct Taxes (other than PP Severance Taxes), to the extent such Direct Taxes are paid by any Grantee or Beneficiary Beneficiaries should Grantor fail to promptly pay the same as required by Section 2.4, together with an additional amount equal to interest on the amount so paid computed at the Agreed Rate from and including the date any Grantee or Beneficiary pays Beneficiaries pay such Direct Taxes to but not including the earlier of the date such Direct Taxes are either reimbursed by Grantor or paid by the application of PP Proceeds under Section 2.3(a) or added to the unliquidated balance of the Primary Sum under Section 2.3(a); plus (d) an amount equal to all Reimbursable Expenses to the extent paid by any Grantee or any Beneficiary Beneficiaries should Grantor fail to promptly pay the same as required by Section 2.4, together with an additional amount equal to interest on the amount so paid computed at the Agreed Rate from and including the date any Grantee or Beneficiary pays Beneficiaries pay such Reimbursable Expenses to but not including the earlier of the date such Reimbursable Expenses are either reimbursed by Grantor or paid by the application of PP Proceeds under Section 2.3(a) or added to the unliquidated balance of the Primary Sum pursuant to Section 2.3(a); plus (e) an amount equal to all Operating Costs Delivery Charges to the extent paid by any Grantee or Beneficiary Beneficiaries should Grantor fail to promptly pay the same as required by Section 2.4, together with an additional amount equal to interest on the amount so paid, computed at the Agreed Rate from and including the date any Grantee or Beneficiary pays Beneficiaries pay such Operating Costs Delivery Charges to but not including the earlier of the date such Operating Costs Delivery Charges are either reimbursed by Grantor or paid by the application of PP Proceeds under Section 2.3(a) or added to the unliquidated balance of the Primary Sum pursuant to Section 2.3(a). The amounts (including interest) referred to in subsections (c), (d) and (e) of this section are herein collectively called the "Expense Components".