Apportionment of Tax Liability. All Taxes based on or measured by production of Hydrocarbons shall be deemed attributable to the period during which such production occurred and not attributable to the year in which such Taxes are assessed. The apportionment of Taxes between the Parties shall take place as an adjustment to the Purchase Price pursuant to Sections 2.4 and 13.1 in the Preliminary Settlement Statement for Taxes for which information is available at Closing and in the Final Settlement Statement for all remaining Taxes, using estimates of such Taxes if actual numbers are not available.
Apportionment of Tax Liability. “Taxes” shall mean all ad valorem, property, production, excise, conservation, net proceeds, severance, and all other taxes and similar obligations assessed against the Assets or based upon or measured by the ownership of the Assets or the production of Hydrocarbons or the receipt of proceeds therefrom, other than income taxes. With respect to the Assets and all personal property associated therewith, all Taxes shall be prorated between Seller and Buyer as of the Effective Time for all taxable periods that include the Effective Time based upon the date such Taxes are assessed and not upon the period during which the production occurred.
Apportionment of Tax Liability. Ad valorem taxes for 2008 shall be prorated on a daily basis, with Buyer liable for the portion allocated to the period on and after the Effective Date and Seller liable for the portion allocated to the period before the Effective Date. If the amount of such taxes for part, or all, of the Assets is not available on the Effective Date, proration of taxes shall be made on the basis of the best current information available, with a subsequent cash adjustment of such proration to be made between Seller and Buyer when actual tax figures are available. All Taxes based on or attributable to the ownership of, or based on production of hydrocarbons, other than ad valorem taxes, shall be deemed attributable to the period during which the hydrocarbons are produced. All Taxes imposed on or with respect to the Assets shall be prorated between Buyer and Seller as of the Effective Date, August 1, 2008. The apportionment of Taxes between the Parties shall take place in the Preliminary Settlement Statement and Final Settlement Statement, using estimates of such Taxes if actual numbers are not available. Subject to the provisions of Section 14.3, Taxes are considered part of the Property Expenses.
Apportionment of Tax Liability. All Taxes based on or measured by production, purchase or sale of Hydrocarbons shall be deemed attributable to the period during which such production occurred and not attributable to the year in which such Taxes are assessed. Sellers shall be responsible for, and shall bear and pay, such Taxes attributable to the period prior to the Effective Time, and Purchaser shall be responsible for, and shall bear and pay, such Taxes for any period that begins at or after the Effective Time. All property, ad valorem and similar Taxes with respect to the tax period in which the Effective Time occurs shall be apportioned as of the Effective Time between the Sellers and Purchaser, with such Taxes being allocated pro rata per day between the period prior to the Effective Time and the period that begins at or after the Effective Time. Sellers shall be responsible for, and shall bear and pay, such Taxes attributable to the period prior to the Effective Time, and Purchaser shall be responsible for, and shall bear and pay, such Taxes for any period that begins at or after the Effective Time. The apportionment of Taxes between the Parties shall take place as an adjustment to the Purchase Price pursuant to Section 12.2 in the Statement for Taxes for which information is available at the Closing Date and in the final statement prepared pursuant to Section 12.3(b) for all remaining Taxes, using estimates of such Taxes if actual numbers are not available.
Apportionment of Tax Liability. All Taxes based on or measured by production or Hydrocarbons shall be deemed attributable to the period during which such production occurred and not attributable to the year in which such Taxes are assessed.
Apportionment of Tax Liability. Taxes" shall mean all ad valorem, property, production, excise, net proceeds, severance, and all other taxes and similar obligations assessed against the Assets or based upon or measured by the ownership of the Assets or the production of Hydrocarbons or the receipt of proceeds therefrom, other than income taxes. All Taxes based on production of hydrocarbons shall be deemed attributable to the period during which such production occurred, and not to the period during which such Taxes are assessed. All Taxes shall be prorated between Buyer and Seller as of the Effective Date for all taxable periods that include the Effective Date. The apportionment of Taxes between the Parties shall take place as an adjustment to the Purchase Price pursuant to Article 2.3 in the Preliminary Statement, using estimates of such Taxes if actual numbers are not available. Subject to the provisions of Article 14.3, Taxes are considered part of the Property Expenses.
Apportionment of Tax Liability. Taxes" shall mean all ad valorem, severance, property, production, excise, net proceeds, and all other taxes and similar obligations assessed against the Assets or based upon or measured by the ownership of the Assets or the production of Hydrocarbons or the receipt of proceeds therefrom, other than income taxes. With respect to the Assets, all Taxes based on or attributable to the ownership of, or based on production of hydrocarbons shall be deemed attributable to the period during which such production occurred, and not attributable to the period during which such Taxes are assessed. The apportionment of Taxes between the Parties shall take place in the Preliminary Settlement Statements and Settlement Statement, using estimates of such Taxes if actual numbers are not available. Subject to the provisions of Section 13.3, Taxes are considered part of the Property Expenses.
Apportionment of Tax Liability. The term “Tax” or “Taxes” means all federal, state, local, foreign and other income, gross receipts, sales, use, production, ad valorem, transfer, documentary, franchise, registration, profits, license, lease, service, service use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental, stamp, occupation, premium, property (real or personal), real property gains, windfall profits, customs, duties or other taxes, fees, assessments or charges of any kind whatsoever, together with any interest, additions or penalties with respect thereto and any interest in respect of such additions or penalties.
Apportionment of Tax Liability. “Taxes” shall mean all ad valorem, property, production, excise, net proceeds, severance and all other taxes and similar obligations assessed against the Assets or based upon or measured by the ownership of the Assets or the production of Hydrocarbons or the receipt of proceeds therefrom, other than income taxes. All Taxes based on or measured by production of Hydrocarbons shall be deemed attributable to the period during which such production occurred and not attributable to the year in which such Taxes are assessed. Buyer, as operator of the Assets, has deducted from Seller’s revenues sums to pay Seller’s share of ad valorem, conservation, and severance taxes. Consequently there shall be no adjustment to the Purchase Price for ad valorem, conservation or severance taxes. Buyer shall retain all amounts deducted by it for payment of ad valorem, conservation and severance taxes, even if the actual taxes, when assessed, are less than the amount withheld, and Seller shall have no obligation for any additional ad valorem, conservation or severance taxes even if the actual taxes, when assessed, are greater than the amount withheld by Buyer. The apportionment of all other taxes (if any) between the Parties shall take place as an adjustment to the Purchase Price pursuant to Section 2.2 in the Settlement Statement, using estimates of such Taxes if actual numbers are not available.
Apportionment of Tax Liability. 44 9.2 Calculation of Tax Liability. 45
