Trade Acreage Sample Clauses

Trade Acreage. (a) Trade Agreements. (i) Prior to Closing, the Company Groups intend to enter into certain acreage trade agreements (each, a “Trade Agreement”) with certain counterparties or their respective Affiliates identified on Schedule 6.27 (each such counterparty and its respective Affiliates, a “Trade Counterparty”), pursuant to which the Company Groups will convey to the relevant Trade Counterparty those oil, gas and/or mineral leases owned by the Company Groups and described on Schedule 6.27(a) (the “Outgoing Trade Leases”) with respect to the relevant Trade Agreement in exchange for certain oil, gas and/or mineral leases owned by the relevant Trade Counterparty and described on Annex I or Annex II, as applicable, to Exhibit A-1 (the “Incoming Trade Leases”). (ii) Schedule 6.27(a) sets forth, for each Trade Agreement, (A) the Net Revenue Interest as to the Target Formation(s) for each DSU pertaining to the Outgoing Trade Leases, (B) the Working Interest as to the Target Formation(s) for each such DSU, (C) the Allocated Value for each such DSU, and (D) the aggregate sum of the Allocated Values of such DSUs assuming that the Outgoing Trade Leases are included in such DSUs (the “Outgoing Trade Lease Allocated Value”). (iii) Schedule 6.27(b) sets forth, for each Trade Agreement, (A) the Net Revenue Interest as to the Target Formation(s) for each DSU pertaining to the Incoming Trade Leases, (B) the Working Interest as to the Target Formation(s) for each such DSU, (C) the Allocated Value for each such DSU, and (D) the aggregate sum of the Allocated Values of such DSUs assuming that the Incoming Trade Leases are included in such DSUs (the “Incoming Trade Lease Allocated Value”). (iv) For the avoidance of doubt and notwithstanding anything to the contrary in this Agreement, the Parties acknowledge and agree that the aggregate Allocated Values of all of the DSUs and ▇▇▇▇▇ have been assigned contemplating the completion of the transactions contemplated by each of the Trade Agreements and corresponding assignment to the relevant Company Groups of the relevant Incoming Trade Leases. (v) Notwithstanding anything herein to the contrary, the applicable Company Group Members are permitted, and Purchaser has consented to, the execution and delivery of each of the Trade Agreements on commercially reasonable terms. (b) With respect to the Incoming Trade Leases, from and after the Execution Date Sellers shall afford to Purchaser and Purchaser’s representatives reasonable access (i...