Conditions to Closing Settlement Statement Closing Clause Samples

Conditions to Closing Settlement Statement Closing. 40 10.1 Sellers’ Conditions to Closing 40 10.2 Buyer’s Conditions to Closing 41 10.3 Closing Settlement Statement 42 10.4 Closing Date and ▇▇▇▇▇ ▇▇ ▇▇.▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇. POST-CLOSING OBLIGATIONS 44 11.1 Recordation and Filing of Documents 44 11.2 Records 44 11.3 Final Settlement Statement 44 11.4 Cooperation with Sellers’ Retained Assets 45 11.5 Suspense Accounts 45 11.6 Further Assurances 46 12. TAXES 46 12.1 Property Taxes 46 12.2 Production Taxes 46 12.3 Other Taxes 47 13. OWNERSHIP OF ASSETS 47 13.1 Distribution of Production 47 13.2 Proration of Income and Expenses 47 13.3 Notice to Remitters of Proceeds 48 13.4 Notice to Third Party Users of Key Facilities 48 13.5 Production Imbalances 48 13.6 Pipeline and Other Non-Wellhead Imbalances 48 14. INTERIM OPERATIONS 49 14.1 Standard of Care 49 14.2 Liability of Operator 49 14.3 Removal of Signs 49 14.4 Third-Party Notifications 50 14.5 Seller Credit Obligations 50 14.6 Notification of Breaches 50