Common use of Final Settlement Statement Clause in Contracts

Final Settlement Statement. Within 120 days after Closing, SELLER will prepare a final settlement statement for the Property containing a final reconciliation of the adjustments to the Purchase Price specified in Section 2.2 (the "FINAL SETTLEMENT STATEMENT"). However, failure of SELLER to complete the Final Settlement Statement within 120 days after Closing will not constitute a waiver of any right to an adjustment otherwise due. PURCHASER will have 30 days after receiving the Final Settlement Statement to provide SELLER with written exceptions to any items in the Final Settlement Statement that PURCHASER believes in good faith to be questionable. All items in the Final Settlement Statement to which PURCHASER does not take written exception within the 30-day review period will be deemed correct.

Appears in 1 contract

Sources: Purchase and Sale Agreement (High Plains Gas, Inc.)

Final Settlement Statement. Within 120 ninety (90) days after Closing, SELLER Seller will prepare a final settlement statement for the Property Interests containing a final reconciliation of the adjustments to the Purchase Sale Price specified in Section 2.2 2.1 (the "FINAL SETTLEMENT STATEMENT"AFinal Settlement Statement@). However, the failure of SELLER Seller to complete the Final Settlement Statement within 120 90 days after Closing will not constitute a waiver of any right to an adjustment otherwise due. PURCHASER Buyer will have 30 thirty (30) days after receiving the Final Settlement Statement to provide SELLER Seller with written exceptions to any items in the Final Settlement Statement that PURCHASER Buyer believes in good faith to be questionable. All items in the Final Settlement Statement to which PURCHASER Buyer does not take written exception except within the 30-30 day review period will be deemed to be correct.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Greka Energy Corp)

Final Settlement Statement. Within 120 days after Closing, SELLER will prepare a final settlement statement for the Property containing a final reconciliation of the adjustments to the Purchase Price specified in Section 2.2 (the "FINAL SETTLEMENT STATEMENTFinal Settlement Statement"). (However, failure of SELLER to complete the Final Settlement Statement within 120 days after Closing will not constitute a waiver of any right to an adjustment otherwise due. PURCHASER .) BUYER will have 30 days after receiving the Final Settlement Statement to provide SELLER with written exceptions to any items in the Final Settlement Statement that PURCHASER BUYER believes in good faith to be questionable. All items in the Final Settlement Statement to which PURCHASER BUYER does not take written exception except within the 30-day review period will be deemed correct.

Appears in 1 contract

Sources: Share and Pipeline Purchase Agreement (Stone Energy Corp)

Final Settlement Statement. Within 120 days after Closing, SELLER ASSIGNOR will prepare a final settlement statement for the Property containing a final reconciliation of the adjustments to the Purchase Price specified in Section 2.2 (the "FINAL SETTLEMENT STATEMENT"). (However, failure of SELLER ASSIGNOR to complete the Final Settlement Statement within 120 days after Closing will not constitute a waiver of any right to an adjustment otherwise due. PURCHASER .) ASSIGNEE will have 30 20 days after receiving the Final Settlement Statement to provide SELLER ASSIGNOR with written exceptions to any items in the Final Settlement Statement that PURCHASER ASSIGNEE believes in good faith to be questionable. All items in the Final Settlement Statement to which PURCHASER ASSIGNEE does not take written exception except within the 3020-day review period will be deemed correct.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Southwest Royalties Holdings Inc)

Final Settlement Statement. Within 120 thirty (30) days after Closing, SELLER Sellers will prepare a final settlement statement for the Property Purchased Assets containing a final reconciliation of the adjustments to the Purchase Price specified in Section 2.2 2.5(a) (the "FINAL SETTLEMENT STATEMENT"“Final Settlement Statement”). However, the failure of SELLER Sellers to complete the Final Settlement Statement within 120 thirty (30) days after Closing will not constitute a waiver of any right to an adjustment otherwise due. PURCHASER Buyer will have 30 thirty (30) days after receiving the Final Settlement Statement to provide SELLER Sellers with written exceptions to any items in the Final Settlement Statement that PURCHASER believes Buyer believes, in good faith faith, to be questionable. All items in the Final Settlement Statement to which PURCHASER Buyer does not take written exception except within the thirty (30-) day review period will be deemed to be correct.

Appears in 1 contract

Sources: Asset Purchase Agreement (NGAS Resources Inc)

Final Settlement Statement. Within 120 one hundred twenty (120) days after Closing, SELLER Sellers will prepare a final settlement statement for the Property interests containing a final reconciliation of the adjustments to the Purchase Sale Price specified in Section 2.1 and 2.2 (the "FINAL SETTLEMENT STATEMENT"“Final Settlement Statement”). However, failure of SELLER to complete the Final Settlement Statement within 120 days after Closing will not constitute a waiver of any right to an adjustment otherwise due. PURCHASER Buyer will have 30 thirty (30) days after receiving the Final Settlement Statement to provide SELLER Sellers with written exceptions to any items in the Final Settlement Statement that PURCHASER believes Buyer believes, in good faith faith, to be questionable. All items in the Final Settlement Statement to which PURCHASER Buyer does not take written exception except within the 30-30 day review period will be deemed to be correct.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Mdu Resources Group Inc)