Common use of Obligations and Credits Clause in Contracts

Obligations and Credits. All prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids applicable to periods of time after the Effective Time and benefiting Buyer, if any, and attributable to the Properties shall be reimbursed to Seller by Buyer; and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the Final Accounting Settlement.

Appears in 6 contracts

Samples: Purchase and Sale Agreement (Panhandle Oil & Gas Inc), Purchase and Sale Agreement (Heartland Oil & Gas Corp), Purchase and Sale Agreement (Enterra Energy Trust)

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Obligations and Credits. All prepaid insurance premiums, utility charges, taxes, rentals rentals, deposits and any other prepaids applicable to periods the period of time after the Effective Time and benefiting BuyerTime, if any, and attributable to the Properties shall be reimbursed to Seller by Buyer; , and all accrued payables applicable to periods the period of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the Final Accounting Settlement.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Hs Resources Inc), Purchase and Sale Agreement (Coho Energy Inc), Purchase and Sale Agreement (Amoco Corp)

Obligations and Credits. All Any and all prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids prepays, to the extent applicable to periods of time after the Effective Time and benefiting Buyer, if any, and to the extent attributable to the Properties shall be reimbursed to Seller by Buyer; and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the Final Accounting Settlement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Southwestern Energy Co), Purchase and Sale Agreement (Bellwether Exploration Co)

Obligations and Credits. All prepaid insurance premiums, utility ----------------------- charges, taxes, rentals rentals, deposits and any other prepaids applicable to periods the period of time after the Effective Time and benefiting BuyerTime, if any, and attributable to the Properties shall be reimbursed to Seller by Buyer; , and all accrued payables applicable to periods the period of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the Final Accounting Settlement.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Gothic Energy Corp), Purchase and Sale Agreement (Cross Timbers Oil Co)

Obligations and Credits. All prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids applicable to periods of time after the Effective Time and benefiting BuyerTime, if any, and attributable to the Properties shall be reimbursed to Seller by Buyer; and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the Preliminary Settlement Statement or Final Accounting Settlement.

Appears in 2 contracts

Samples: Asset Purchase and Sale Agreement (Markwest Energy Partners L P), Asset Purchase and Sale Agreement (Markwest Hydrocarbon Inc)

Obligations and Credits. All Any and all prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids prepays, to the extent applicable to periods of time after the Effective Time and benefiting Buyer, if any, and to the extent attributable to the Properties Subject Interests shall be reimbursed to Seller by Buyer; and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties Subject Interests shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the preliminary Closing statement and the Final Accounting Settlement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Parallel Petroleum Corp)

Obligations and Credits. All prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids applicable to periods of time after the Effective Time and benefiting BuyerTime, if any, and attributable to the Properties shall be reimbursed to Seller by Buyer; and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the Final Accounting Settlement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Infinity Inc)

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Obligations and Credits. All prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids applicable to periods of time after the Effective Time and benefiting BuyerTime, if any, and attributable to the Properties shall be reimbursed to Seller by Buyer; , and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of Seller. The actual amounts or values associated with the above shall be accounted for in the Final Accounting Settlement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Evergreen Resources Inc)

Obligations and Credits. All Any and all prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids prepays, to the extent applicable to periods of time after the Effective Time and benefiting Buyer, if any, and to the extent attributable to the Properties shall be reimbursed to Seller Sellers by Buyer; and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of SellerSellers. The actual amounts or values associated with the above shall be accounted for in the Final Accounting Settlement.

Appears in 1 contract

Samples: Participation Agreement (Baron Energy Inc.)

Obligations and Credits. All prepaid insurance premiums, utility charges, taxes, rentals and any other prepaids applicable to periods of time after the Effective Time and benefiting BuyerTime, if any, and attributable to the Properties shall be reimbursed to Seller Sellers by Buyer; and accrued payables applicable to periods of time prior to the Effective Time, if any, and attributable to the Properties shall be the responsibility of SellerSellers. The actual amounts or values associated with the above shall be accounted for in the Closing Statement or Final Accounting SettlementStatement.

Appears in 1 contract

Samples: Purchase and Sale Agreement (PRB Energy, Inc.)

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