Common use of Proration of Costs and Revenues Clause in Contracts

Proration of Costs and Revenues. The Company shall be entitled to all production of Hydrocarbons from or attributable to the Laramie Assets and the Delta Assets at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses (as defined in Section 15.1(b) below) incurred at and after the Effective Time. Laramie and Delta, as applicable, shall be entitled to all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earned” and “incurred”, as used in this Agreement, shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) and Council of Petroleum Accountants Society (“XXXXX”) standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified herein. For purposes of allocating production (and accounts receivable with respect thereto), under this Section 15.1(a), (i) liquid Hydrocarbons, including natural gas liquids, shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the royalty measurement meters, delivery point sales meters or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Settlement Statement, Laramie and Delta, as applicable, shall provide to the Company all data necessary to support any estimated allocation for purposes of establishing the Final Payment.

Proration of Costs and Revenues. The Company Buyer shall be entitled to all production of Hydrocarbons from or attributable to the Laramie Assets Leases, Lands, and the Delta Assets Xxxxx at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses (as defined in Section 15.1(b2.3(b) below) incurred at and after the Effective Time. Laramie and Delta, as applicable, Seller shall be entitled to all proceeds from Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets Leases, Lands, and Xxxxx prior to the Effective Time (and all products and proceeds attributable thereto)Time, and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earned” and “incurred”, as used in this Agreement, Agreement shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) and Council of Petroleum Accountants Society (“XXXXX”) standards, and utilizing the “sales method” of revenue accountingutilized by Seller, except as otherwise specified herein. For purposes of allocating production (and accounts receivable with respect thereto), under this Section 15.1(a2.3(a), (i) liquid Hydrocarbons, including natural gas liquids, shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the royalty measurement meters, delivery point sales meters or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Preliminary Settlement Statement, Laramie and Delta, as applicable, Seller shall provide to the Company Buyer, all data necessary to support any estimated allocation allocation, for purposes of establishing the Final PaymentClosing Amount.

Proration of Costs and Revenues. The Company shall be For purposes of determining the amounts of the adjustments to the Cash Consideration provided for in this Section 2.3, the principles set forth in this Section 2.3(a) apply. Buyer is entitled to all production of Hydrocarbons from or attributable to the Laramie Assets and the Delta Assets Properties at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts receivables, receipts, and credits earned with respect to the Assets at or after the Effective Time, and shall be is responsible for (and entitled to any refunds with respect to) all Property Expenses or other expenses incurred (as defined in Section 15.1(b1) below) incurred at and after the Effective Time, and (2) prior to the Effective Time as provided in Section 14.1. Laramie and Delta, as applicable, shall be Seller is entitled to all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets Properties prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts receivables, receipts, and credits earned with respect to the Assets prior to the Effective Time, and shall be is responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, ,” as used in this Agreement, shall be is interpreted in accordance with generally accepted accounting principles (“GAAP”) GAAP and Council of Petroleum Accountants Society (“XXXXX”) XXXXX standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified hereinin this Agreement. For purposes of allocating production (and proceeds and accounts receivable with respect thereto), under this Section 15.1(a2.3(a), (i1) liquid Hydrocarbons, including natural gas liquids, Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Properties when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii2) gaseous Hydrocarbons (including any natural gas liquids recovered by virtue of processing such gaseous Hydrocarbons) shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Properties when they pass through the royalty measurement meters, delivery point sales meters meters, or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall utilize reasonable interpolative procedures, reasonably consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Settlement Statement, Laramie and Delta, as applicable, shall provide to the Company all data necessary to support any estimated allocation for purposes of establishing the Final Payment.

Proration of Costs and Revenues. The Company shall For purposes of determining the amounts of the adjustments to the Purchase Price provided for in this Section 2.3, the principles set forth in this Section 2.3(a) apply. Buyer will be entitled to its share of all production of Hydrocarbons from or attributable to the Laramie Assets Leases, Lands, and the Delta Assets Xxxxx at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) its share of all Property Expenses (as defined in Section 15.1(b) below) incurred at and after the Effective Time. Laramie and Delta, as applicable, Seller shall be entitled to its share of all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets Leases, Lands, and Xxxxx prior to the Effective Time (and all products and proceeds attributable thereto), and to its share of all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) its share of all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, ,” as used in this Agreement, Agreement shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) GAAP and Council of Petroleum Accountants Society (“XXXXX”) XXXXX standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified hereinin this Agreement. For purposes of allocating production (and proceeds and accounts receivable with respect thereto), under this Section 15.1(a)2.3, (i1) liquid Hydrocarbons, including natural gas liquids, Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii2) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the royalty measurement meters, delivery point sales meters meters, or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Settlement Statement, Laramie and Delta, as applicable, shall provide to the Company all data necessary to support any estimated allocation for purposes of establishing the Final Payment.

Proration of Costs and Revenues. The Company shall be For purposes of determining the amounts of the adjustments to the Cash Consideration provided for in this Section 2.3, the principles set forth in this Section 2.3(a) apply. Buyer is entitled to all production of Hydrocarbons from or attributable to the Laramie Assets and the Delta Assets Properties at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts receivables, receipts, and credits earned with respect to the Assets at or after the Effective Time, and shall be is responsible for (and entitled to any refunds with respect to) all Property Expenses or other expenses (as defined in Section 15.1(b) belowaccordance with this Agreement) incurred (i) at and after the Effective Time, and (ii) prior to the Effective Time as provided in Section 14.1. Laramie and Delta, as applicable, shall be Seller is entitled to all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets Properties prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts receivables, receipts, and credits earned with respect to the Assets prior to the Effective Time, and shall be is responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, ,” as used in this Agreement, shall be is interpreted in accordance with generally accepted accounting principles (“GAAP”) GAAP and Council of Petroleum Accountants Society (“XXXXX”) XXXXX standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified hereinin this Agreement. For purposes of allocating production (and proceeds and accounts receivable with respect thereto), under this Section 15.1(a2.3(a), (i1) liquid Hydrocarbons, including natural gas liquids, shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, Properties when they pass through the inlet flange of the pipeline connecting into the storage facilities into which they are run and Xxxxx (2) gaseous Hydrocarbons (including any natural gas liquids recovered by virtue of processing such gaseous Hydrocarbons) shall be deemed to be “from or attributable to” the Properties when they pass through the royalty measurement meters, delivery point sales meters meters, or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall request that OpCo utilize reasonable interpolative procedures, reasonably consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Settlement Statement; provided that if Buyer requests, Laramie and DeltaSeller shall use reasonable efforts to request that Foreland or OpCo, as applicable, shall provide to Buyer the Company all data necessary to support any estimated allocation for purposes of establishing the Final Paymentand information utilized by Seller in preparing such allocation.

Proration of Costs and Revenues. The Company Buyer shall be entitled to all production of Hydrocarbons from or attributable to the Laramie Assets and the Delta Assets at and on or after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses (Expenses, as defined in Section 15.1(b) below) herein, incurred at and on or after the Effective Time. Laramie and Delta, as applicable, Seller shall be entitled to all Hydrocarbon production Hydrocarbons produced from or attributable to the Laramie Assets or the Delta Assets prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, ,” as used in this Agreement, Agreement shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) GAAP and Council of Petroleum Accountants Society (“XXXXX”) XXXXX standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified hereinin this Agreement. For purposes of allocating production (and proceeds and accounts receivable with respect thereto), under this Section 15.1(a), (i1) liquid Hydrocarbons, including natural gas liquids, Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Assets when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx run, and (ii2) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Assets when they pass through the royalty measurement meters, delivery point sales meters meters, or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation allocate of production when exact meter readings or gauging and strapping data are not available. As part of the Final Settlement Statement, Laramie and Delta, as applicable, shall provide to the Company all data necessary to support any estimated allocation for purposes of establishing the Final Payment.

Proration of Costs and Revenues. The Company Buyer shall be entitled to all production of Hydrocarbons from or attributable to the Laramie Assets Leases, Lands, and the Delta Assets Xxxxx at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses (as defined in Section 15.1(b2.3(c) below) incurred at and after the Effective Time. Laramie and Delta, as applicable, Seller shall be entitled to all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets Leases, Lands, and Xxxxx prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, as used in this Agreement, the Agreement shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) and Council of Petroleum Accountants Society (“XXXXX”) standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified herein. For purposes of allocating production (and accounts receivable with respect thereto), under this Section 15.1(a2.3(a), (i) liquid Hydrocarbons, including natural gas liquids, Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the royalty measurement meters, delivery point sales meters or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Preliminary Settlement Statement, Laramie and Delta, as applicable, Seller shall provide to the Company Buyer, all data necessary to support any estimated allocation allocation, for purposes of establishing the Final PaymentClosing Amount.

Proration of Costs and Revenues. The Company Buyer shall be entitled to all production of Hydrocarbons from or attributable to the Laramie Assets Leases, Lands, and the Delta Assets Xxxxx at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses (as defined in Section 15.1(b2.3(c) below) incurred at and after the Effective Time. Laramie and Delta, as applicable, Seller shall be entitled to all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets Leases, Lands, and Xxxxx prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, as used in this Agreement, the Agreement shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) and Council of Petroleum Accountants Society (“XXXXX”) standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified herein. For purposes of allocating production (and accounts receivable with respect thereto), under this Section 15.1(a2.3(b), (i) liquid Hydrocarbons, including natural gas liquids, Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the royalty measurement meters, delivery point sales meters or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Buyer shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Preliminary Settlement Statement, Laramie and Delta, as applicable, Buyer shall provide to the Company Seller all data necessary to support any estimated allocation allocation, for purposes of establishing the Final PaymentClosing Amount.

Proration of Costs and Revenues. The Company shall be For purposes of determining the amounts of the adjustments to the Cash Consideration provided for in this Section 2.3, the principles set forth in this Section 2.3(a) apply. Buyer is entitled to all production of Hydrocarbons from or attributable to the Laramie Assets and the Delta Assets Properties at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts receivables, receipts, and credits earned with respect to the Assets at or after the Effective Time, and shall be is responsible for (and entitled to any refunds with respect to) all Property Expenses or other expenses (as defined in Section 15.1(b) belowaccordance with this Agreement) incurred (i) at and after the Effective Time, and (ii) prior to the Effective Time as provided in Section 14.1. Laramie and Delta, as applicable, shall be Seller is entitled to all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets Properties prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts receivables, receipts, and credits earned with respect to the Assets prior to the Effective Time, and shall be is responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, ,” as used in this Agreement, shall be is interpreted in accordance with generally accepted accounting principles (“GAAP”) GAAP and Council of Petroleum Accountants Society (“XXXXX”) XXXXX standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified hereinin this Agreement. For purposes of allocating production (and proceeds and accounts receivable with respect thereto), under this Section 15.1(a2.3(a), (i1) liquid Hydrocarbons, including natural gas liquids, shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, Properties when they pass through the inlet flange of the pipeline connecting into the storage facilities into which they are run and Xxxxx (2) gaseous Hydrocarbons (including any natural gas liquids recovered by virtue of processing such gaseous Hydrocarbons) shall be deemed to be “from or attributable to” the Properties when they pass through the royalty measurement meters, delivery point sales meters meters, or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall utilize reasonable interpolative procedures, reasonably consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Final Settlement Statement; provided that if Buyer requests, Laramie and Delta, as applicable, Seller shall provide to Buyer the Company all data necessary to support any estimated allocation for purposes of establishing the Final Paymentand information utilized by Seller in preparing such allocation.

Proration of Costs and Revenues. The Company BreitBurn shall be entitled to all production of Hydrocarbons from or attributable to the Laramie Assets Lands, Wxxxx, Units and other interests among the Delta Assets at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect tothereto) all Property Expenses Costs (as defined in Section 15.1(b) below) incurred at and after the Effective Time. Laramie and Delta, as applicable, shall be entitled to all Hydrocarbon production from or attributable except to the Laramie Assets or the Delta Assets prior extent any Property Costs are related to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled matters subject to any refunds with respect to) all Property Expenses incurred prior to the Effective Timeindemnity by AEO. The terms “earned” and “incurred”, ,” as used in this Agreement, shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) and Council of Petroleum Accountants Society (“XXXXXCXXXX”) standards. “Property Costs” means all operating expenses incurred in the ordinary course of business (including costs of insurance and Asset Taxes) and capital expenditures incurred in the ownership and operation of the Assets including royalties and other burdens upon, measured by or payable out of proceeds from production, rentals and utilizing the “sales method” other lease maintenance payment, but excluding any costs or expenses of revenue accounting, except as otherwise specified hereinlitigation. For purposes of allocating production (and accounts receivable with respect thereto), under this Section 15.1(a), (i) liquid Hydrocarbons, including natural gas liquids, shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx when they pass through the royalty measurement meters, delivery point sales meters or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, AEO shall utilize reasonable interpolative procedures, consistent with industry practice, procedures to arrive at an allocation of production when exact meter readings or gauging and strapping data are is not available. As part of the Final Settlement Statement, Laramie and Delta, as applicable, AEO shall provide to the Company BreitBurn, no later than five Business Days prior to Closing, all data necessary to support any estimated allocation allocation, for purposes of establishing the Final Paymentadjustment to the Consideration pursuant to Section 2.2 hereof that will be used to determine the Closing Payment (as defined below). Taxes, right-of-way fees, insurance premiums and other Property Costs that are paid periodically shall be prorated based on the number of days in the applicable period falling before and the number of days in the applicable period falling at or after the Effective Time, except that production, severance and similar Taxes shall be prorated based on the number of units actually produced, purchased or sold or proceeds of sale, as applicable, before, and at or after, the Effective Time. In each case, BreitBurn shall be responsible for the portion allocated to the period at and after the Effective Time and AEO shall be responsible for the portion allocated to the period before the Effective Time.

Proration of Costs and Revenues. The Company Buyer shall be entitled to all production of Hydrocarbons from or attributable to the Laramie Assets and the Delta Assets at and on or after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses (Expenses, as defined in Section 15.1(b) below) herein, incurred at and on or after the Effective Time. Laramie and Delta, as applicable, Seller shall be entitled to all Hydrocarbon production Hydrocarbons produced from or attributable to the Laramie Assets or the Delta Assets prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses incurred prior to the Effective Time. The terms “earnedEarned” and “incurred”, ,” as used in this Agreement, Agreement shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) GAAP and Council of Petroleum Accountants Society (“XXXXX”) CXXXX standards, and utilizing the “sales method” of revenue accounting, except as otherwise specified hereinin this Agreement. For purposes of allocating production (and proceeds and accounts receivable with respect thereto), under this Section 15.1(a), (i1) liquid Hydrocarbons, including natural gas liquids, Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Assets when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx run, and (ii2) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Assets when they pass through the royalty measurement meters, delivery point sales meters meters, or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). Laramie and Delta, as applicable, Seller shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation allocate of production when exact meter readings or gauging and strapping data are not available. As part of the Final Settlement Statement, Laramie and Delta, as applicable, shall provide to the Company all data necessary to support any estimated allocation for purposes of establishing the Final Payment.

Proration of Costs and Revenues. The Company Assignee shall be entitled to 80% of all production of Hydrocarbons from or attributable to the Laramie Assets and the Delta Assets at and after the Effective Time Date (and all products and proceeds attributable thereto), and to 80% of all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective TimeDate, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses Costs (as defined in Section 15.1(b) belowhereinafter defined) incurred at and after the Effective TimeDate. Laramie and Delta, as applicable, Assignor shall be entitled to all Hydrocarbon production from or attributable to the Laramie Assets or the Delta Assets prior to the Effective Time Date (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective TimeDate, and shall be responsible for (and entitled to any refunds with respect to) all Property Expenses Costs incurred prior to the Effective TimeDate. The terms “earnedEarned” and “incurred”, as used in this AgreementSection 5.2, shall be interpreted in accordance with generally accepted accounting principles (“GAAP”) and the Council of Petroleum Accountants Society (“XXXXX”) standards. “Property Costs”, as used in this Section 5.2, means all operating expenses (including without limitation costs of insurance and utilizing ad valorem, property, severance, production and similar Taxes based upon or measured by the “sales method” ownership or operation of revenue accountingthe Assets or the production of hydrocarbons therefrom, but excluding any other Taxes) and capital expenditures incurred in the ownership and operation of the Assets in the ordinary course of business; and, where applicable, in accordance with the relevant operating or unit agreement, if any, all overhead costs charged to the Assets under the relevant operating agreement or unit agreement, if any, except as otherwise specified hereinspecifically provided herein with respect to liabilities, losses, costs and expenses attributable to: (i) claims, investigations, administrative proceedings or litigation directly or indirectly arising out of or resulting from actual or claimed personal injury or death, property damage or violation of any Law, (ii) obligations to plug xxxxx, dismantle facilities, close pits and restore the surface around such xxxxx, facilities and pits, (iii) obligations to remediate any contamination of groundwater, surface water, soil or equipment under applicable Environmental Laws, (iv) obligations to furnish make-up gas according to the terms of applicable gas sales, gathering or transportation contracts, (v) gas balancing obligations, and (vi) obligations to pay working interests, royalties, overriding royalties or other interests held in suspense. For purposes of allocating production (and accounts receivable with respect thereto), ) under this Section 15.1(a), 5.2: (i) liquid Hydrocarbons, including natural gas liquids, hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Assets when they pass through the pipeline connecting into the storage facilities into which they are run or into tanks connected to the Xxxxx run, and (ii) gaseous Hydrocarbons hydrocarbons shall be deemed to be “from or attributable to” the Leases, Lands, and Xxxxx Assets when they pass through the royalty measurement meters, delivery point sales meters or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to transported. Taxes, right-of-way fees, insurance premiums and other Property Costs that are paid periodically shall be prorated based on the well). Laramie number of days in the applicable period falling before and Deltaafter, respectively, the Effective Date, except that production, severance and similar Taxes shall be prorated based on the number of units actually produced, purchased or sold or proceeds of sale, as applicable, before, and at or after, the Effective Date. In each case, Assignee shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of be responsible for the Final Settlement Statement, Laramie and Delta, as applicable, shall provide portion allocated to the Company all data necessary period at and after the Effective Date, limited to support any estimated allocation its proportionate share thereof, and Assignor shall be responsible for purposes of establishing the Final Paymentportion allocated to the period before the Effective Date.