Common use of Revenues and Expenses Clause in Contracts

Revenues and Expenses. For all purposes including the Purchase Price adjustments under Section 2 of this Agreement, each Seller and the Buyer will properly allocate revenues and expenses before and after the Effective Time and will make payments to each other to the extent necessary for such proper allocation. All expenses incurred in the operation of the Properties before the Effective Time will be borne by the responsible Seller and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties prior to the Effective Time will be the property of the Seller entitled thereto and all expenses incurred in the operation of the Properties from and after the Effective Time will be borne by the Buyer and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties from and after the Effective Time and from the sale of inventory purchased by the Buyer pursuant to Section 2.5(a) will be the property of the Buyer. Ad valorem Taxes, property Taxes and other similar obligations will be prorated between each Seller and the Buyer as of the Effective Time.

Revenues and Expenses. For all purposes purposes, including adjustments to the Purchase Price adjustments under Section 2 of this Agreement, each the Seller and the Buyer will properly allocate revenues and expenses before and after the Effective Time and will make payments to each other to the extent necessary for such proper allocation. All expenses incurred in the operation of the Properties before the Effective Time will be borne by the responsible Seller and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties prior to the Effective Time will be the property of the Seller entitled thereto Seller, and all expenses incurred in the operation of the Properties from and after the Effective Time will be borne by the Buyer and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties from and after the Effective Time and from the sale of inventory purchased by the Buyer pursuant to Section 2.5(a) will be the property of the Buyer. Ad valorem Taxes, property Taxes and other similar obligations will be prorated between each the Seller and the Buyer as of the Effective Time.

Revenues and Expenses. For all purposes including the Purchase Price adjustments under Section 2 of this Agreement, each Seller the Sellers and the Buyer will properly allocate revenues and expenses before and after the Effective Time and will make payments to each other to the extent necessary for such proper allocation. All expenses incurred in the operation of the Properties before the Effective Time will be borne by the responsible Seller Sellers and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties prior to the Effective Time will be the property of the Seller entitled thereto Sellers and all expenses incurred in the operation of the Properties from and after the Effective Time will be borne by the Buyer and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties from and after the Effective Time and from the sale of inventory purchased by the Buyer pursuant to Section 2.5(a) will be the property of the Buyer. Ad valorem Taxestaxes, property Taxes taxes and other similar obligations will be prorated between each Seller the Sellers and the Buyer as of the Effective Time.

Revenues and Expenses. For all purposes including the Purchase Price adjustments under Section 2 of this Agreement, each Buyer and Seller and the Buyer will properly allocate revenues and expenses Operating Expenses before and after the Effective Time and and, if not taken into account for purposes of the Final Statement, will make payments to each other thereafter to the extent necessary for such proper allocation. All expenses incurred in the Operating Expenses allocable to operation of the Properties before the Effective Time will be borne by the responsible Seller and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties prior to the Effective Time will be the property of the Seller entitled thereto Seller, and all expenses incurred in the Operating Expenses allocable to operation of the Properties from and after the Effective Time will be borne by the Buyer and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties from and after the Effective Time and from the sale of inventory purchased by the Buyer pursuant to Section 2.5(a) will be the property of the Buyer. Ad valorem Taxes, property Taxes and other similar obligations will be prorated between each Seller and the Buyer as of the Effective Time.

Revenues and Expenses. For all purposes including the Purchase Price adjustments under Section 2 of this Agreement, each Seller The Sellers and the Buyer will properly allocate revenues and expenses before and after the Effective Time and will make payments to each other to the extent necessary for such proper allocation. All expenses incurred in the operation of the Properties Interests before the Effective Time will be borne by the responsible Seller Sellers and all proceeds from the sale of Hydrocarbons oil, gas or other hydrocarbons produced from or attributable to the Properties Interests prior to the Effective Time will be the property of the Seller entitled thereto Sellers and all expenses incurred in the operation of the Properties from and Interests after the Effective Time will be borne by the Buyer and all proceeds from the sale of Hydrocarbons oil, gas or other hydrocarbons produced from or attributable to the Properties from and Interests after the Effective Time and from the sale of inventory purchased by the Buyer pursuant to Section 2.5(a) will be the property of the Buyer. Ad valorem Taxestaxes, property Taxes taxes and other similar obligations will be prorated between each Seller the Sellers and the Buyer as of the Effective Time.

Revenues and Expenses. For all purposes purposes, including the Purchase Price adjustments under Section 2 of this Agreement, each such Seller and the Buyer will properly allocate revenues and expenses before and after the Effective Time and will make payments to each other to the extent necessary for such proper allocation. All expenses incurred in the operation of the such Seller’s Properties before the Effective Time will be borne by the responsible such Seller and all proceeds from the sale of Hydrocarbons produced from or attributable to the such Properties prior to the Effective Time will be the property of the Seller entitled thereto such Seller, and all expenses incurred in the operation of the such Properties from and after the Effective Time will be borne by the Buyer and all proceeds from the sale of Hydrocarbons produced from or attributable to the such Properties from and after the Effective Time and from the sale of inventory purchased by the Buyer pursuant to Section 2.5(a) will be the property of the Buyer. Ad valorem Taxes, property All Property Taxes and other similar obligations for calendar year 2012 constitutes an Assumed Obligation and will be prorated between each such Seller and the Buyer as of the Effective TimeTime pursuant to Section 2.7(b).

Revenues and Expenses. For all purposes including the Purchase Price adjustments under Section 2 of this Agreement, each Seller and the Buyer will properly allocate revenues and expenses before and from and after the Effective Time and will make payments to each other to the extent necessary for such proper allocation. All Notwithstanding anything herein provided to the contrary, all expenses incurred in the ownership, operation and maintenance of the Properties before the Effective Time will be borne by the responsible Seller Sellers and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties prior to the Effective Time will be the property of the Seller entitled thereto Sellers and all expenses incurred in the ownership, operation and maintenance of the Properties from and after the Effective Time will be borne by the Buyer and all proceeds from the sale of Hydrocarbons produced from or attributable to the Properties from and after the Effective Time and from the sale of inventory purchased by the Buyer pursuant to Section 2.5(a) will be the property of the Buyer. Ad valorem Taxes, property Taxes and other similar obligations will be prorated between each Seller Sellers and the Buyer as of the Effective Time.