Purchase Price Credits. If on any day the Outstanding Balance of a Receivable is reduced or canceled as a result of any Dilution Factor, then, in such event, the Buyer shall be entitled to a credit (each, a “Purchase Price Credit”) against the Purchase Price otherwise payable hereunder in an amount equal to such reduction or cancellation. If the Commitment Termination Date has occurred or the aggregate Purchase Price Credits in respect of any Seller exceeds the Purchase Price in respect of the Receivables of such Seller payable on any Transfer Date, then such Seller agrees to pay the amount of such excess to Buyer in cash promptly (and in any event within one (1) Business Day) thereafter; provided that if the Commitment Termination Date has not occurred, such Seller may also set-off the amount of such excess against any indebtedness owed to it under a Subordinated Note to the extent permitted thereunder.
Purchase Price Credits. On each Purchase Date, all Deemed Collections with respect to Receivables originated by any Originator shall be credited (each, a “Purchase Price Credit”) against the Purchase Price otherwise payable hereunder to such Originator. If, with respect to any Originator, the aggregate amount of Purchase Price Credits exceeds the Purchase Price of the Receivables to be sold by such Originator on such Purchase Date, then such Originator will pay to the Purchaser the remaining amount of such Purchase Price Credit in cash not later than the next Business Day; provided that if no Termination Event or a Potential Termination Event exists, such Originator may deduct the remaining amount of such Purchase Price Credit from any amount owed to it under the applicable Subordinated Note.
Purchase Price Credits. (a) Within 10 days after December 31, 2000, the parties shall exchange information with respect to revenues received from production and other operating sources (excluding interest income), from or attributable to the Assets for periods on or after the Effective Date received by Seller plus $150,000.00 ("Buyer's Credits") and shall calculate all exploration, production, development, operating, overhead, general and administrative and other costs paid or incurred by Seller with respect to the Assets for such period charged under applicable operating agreements or, if no operating agreement is applicable, then under the most recent XXXXX Accounting Procedure Joint Operations ("Seller's Credits") excluding all non-cash charges attributable to depletion, depreciation, bad debt losses, lease abandonment, etc.; provided that Seller shall have no obligation to make any payment that would constitute a Seller's Credit after the Effective Time. Only items of revenue, cost and expense attributable to the Assets shall be included in the foregoing calculations. If Seller's Credits exceed Buyer's Credits, the difference shall be due
Purchase Price Credits. Buyer is not entitled to any cash rebate or refund of Lender Release Surcharges. Purchase Price credits for Lender Release Surcharges are subject to strict compliance with the Lot Closing requirements of Section 3.3.1.
Purchase Price Credits. Prior to the Closing Date, Buyer has paid the Company the following payments which shall be credited to the Purchase Price: (i) the $6,750,000 Up Front Option Payment, (ii) the $2,300,000 Option Extension Payment and (iii) the $5,000,000 Option Closing Extension Payment (as such terms are defined in the Amended 8/14/98 Agreement), in an aggregate amount of $14,050,000 and the Company and Millxx xxxeby acknowledge receipt of the same. The remaining balance of the Purchase Price (the "REMAINING PURCHASE PRICE") shall be paid pursuant to paragraphs (b) through (c) of this SECTION 2.6.
Purchase Price Credits. (a) With respect to the period commencing at the Effective Time and ending at 7:00 a.m. (local time for each Asset) on the Closing Date, the parties shall calculate the revenues from production and other operating sources (excluding interest income), from or attributable to the Assets for such period actually received by Seller as of the Closing Date ("Buyer's Credits") and shall calculate all exploration, production, development, operating, overhead, general and administrative and other costs paid by Seller with respect to the Assets for such period charged under applicable operating agreements, or if no operating agreement is applicable, the amount actually being paid by Seller for such costs and expenses, but not to exceed the amount due under the most recent XXXXX Accounting Procedure Joint Operations ("Seller's Credits"), excluding interest expense not paid in connection with matters identified in Exhibit "D" and all non-cash charges attributable to depletion, depreciation, bad debt losses, lease abandonment, etc.; provided that with respect to any properties operated by Seller, the Seller's Credits with respect to the Subject Interests in such properties shall also include (i) the overhead charges payable to Seller on account of such Subject Interests under existing operating agreements or (ii) if no overhead charge is applicable to a Subject Interest under an existing operating agreement, an overhead charge to such Subject Interest equal to the Average Producing Well Rates in the area as indicated in the most recent Survey of Combined Fixed Rate Overhead Charges for Oil and Gas Producers conducted by Ernst & Young or the prevailing rate in the area if the foregoing survey is not available. Only items of revenue, cost and expense attributable to the Assets shall be included in the foregoing calculations. Amounts constituting the Buyer's Credits shall be retained by Seller. If Seller's Credits exceed Buyer's Credits, the difference shall be due Seller by Buyer. If Buyer's Credits exceed Seller's Credits, the difference shall be due Buyer by Seller.
Purchase Price Credits. Bxxxxxx shall be entitled to API purchase price credits with respect to [*] and Spec Unusable API, as provided in Section 13.1.
Purchase Price Credits. The purchase price (“Purchase Price”) for the Easement shall be $ _ , the fair market value set out in the Appraisal. The Initial Option Price, the Extension Option Price if any, and Paid Consulting Fees (as defined in Section 4.3) if any, shall be applied toward and serve as credits against the Purchase Price as provided in Section 3.4.
Purchase Price Credits. Rent for the Premises and other installment ---------------------- payments shall be prorated as of the closing date and the purchase price and cash due at closing shall be adjusted accordingly.
Purchase Price Credits. On each Purchase Date, all Deemed Collections shall be credited (each, a “Purchase Price Credit”) against the Purchase Price otherwise payable hereunder. If the aggregate amount of Purchase Price Credits exceeds the Purchase Price of the Receivables to be sold by the Seller on such Purchase Date, then the Seller will pay to the Purchaser the remaining amount of such Purchase Price Credit in cash not later than the next Business Day; provided that if no Termination Event or a Potential Termination Event exists, the Seller may deduct the remaining amount of such Purchase Price Credit from any amount owed to it under the Subordinated Note.
