Gas Imbalances as defined in Section 14.01.
Gas Imbalances means any gas production, pipeline, storage, processing, transportation or other imbalance or unsatisfied through-put obligations attributable to Hydrocarbons produced from the respective Seller’s interest in Seller’s Xxxxx or any interests pooled or unitized therewith.
Gas Imbalances means over-production or under-production subject to an imbalance or make-up obligation with respect to gas produced from or allocated to the Subject Interests, regardless of whether such over-production or under-production, imbalance or make-up obligation arises at the wellhead, pipeline, gathering system, transportation or other location and regardless of whether the same arises under contract or by operation of Law. Buyer and Seller shall jointly verify the actual net gas imbalances as of the Effective Time in the Accounting Statement and any Agreed Imbalance shall be accounted for between the Parties in the Accounting Statement at the New York Mercantile Exchange (NYMEX) closing price per MCF on the third (3rd) Business Day preceding the Effective Time. This settlement shall be final and no Party afterwards shall make claim upon the other Parties concerning the Gas Imbalances. BUYER ASSUMES ALL RIGHTS AND LIABILITIES RELATING TO GAS IMBALANCES DISCOVERED AFTER THE FINAL STATEMENT INCLUDING ANY REVENUE ADJUSTMENT CAUSED BY SUCH SUBSEQUENTLY DISCOVERED GAS IMBALANCES AND AGREES TO DEFEND AND INDEMNIFY SELLER FROM AND AGAINST ANY CLAIM, BY ANYONE, ARISING OUT OF SUCH GAS IMBALANCES REGARDLESS OF SELLER'S NEGLIGENCE OR FAULT (INCLUDING STRICT LIABILITY).
Examples of Gas Imbalances in a sentence
The Accounting Statement shall include any adjustment or payment which was not finally determined as of the Closing Date, including any Gas Imbalances, and the allocation of revenues and expenses as determined in accordance with Section 12.02.
The Accounting Statement shall include any adjustment or payment which was not finally determined as of the Closing Date, including any Gas Imbalances, and the allocation of revenues and expenses as determined in accordance with Section 14.02.
The Gas Imbalances attributable to the Subject Interests as of the Effective Time of which Seller has Knowledge are set forth on Schedule 16.01 (the “Agreed Imbalance”).
The Gas Imbalances attributable to the Subject Interests as of the Effective Time of which Seller has Knowledge are set forth on Schedule 14.01 (the “Agreed Imbalance”).
This settlement shall be final and neither Party afterwards shall make claim upon the other Party concerning the Gas Imbalances.
More Definitions of Gas Imbalances
Gas Imbalances has the meaning set forth in Section 4.1(j).
Gas Imbalances has the meaning specified in Section 2.2.
Gas Imbalances as defined in Section 14.01. “Governmental Authority” - as defined in Section 4.02(b)(v) “Governmental Authorizations” - as defined in Section 6.10. “Hazardous Substances” - as defined in Section 5.02(e). “Hydrocarbons” - as defined in Section 2.02(d).
Gas Imbalances means over-production or under-production subject to an imbalance or make-up obligation with respect to gas produced from or allocated to the Subject Interests, regardless of whether such over-production or under-production, imbalance or make-up obligation arises at the wellhead, pipeline, gathering system, transportation or {1919007;4} - 41 - other location and regardless of whether the same arises under contract or by operation of Law. Buyer and Sellers shall jointly verify the actual net gas imbalances as of the Effective Time in the Accounting Statement and any Agreed Imbalance shall be accounted for between the Parties in the Accounting Statement, and the Purchase Price shall be adjusted therefor at the price per MMBtu of $1.50. This adjustment shall become final upon the Final Settlement Date, and no Party afterwards shall make claim upon the other Parties concerning the Gas Imbalances. BUYER ASSUMES ALL RIGHTS AND LIABILITIES RELATING TO GAS IMBALANCES DISCOVERED AFTER THE FINAL STATEMENT INCLUDING ANY REVENUE ADJUSTMENT CAUSED BY SUCH SUBSEQUENTLY DISCOVERED GAS IMBALANCES AND AGREES TO DEFEND AND INDEMNIFY SELLERS INDEMNITEES FROM AND AGAINST ANY CLAIM, BY ANYONE, ARISING OUT OF SUCH GAS IMBALANCES REGARDLESS OF A SELLERS INDEMNITEE’S NEGLIGENCE OR FAULT (INCLUDING STRICT LIABILITY).
Gas Imbalances means any gas production, pipeline, storage, processing, transportation or other imbalance or unsatisfied through-put obligations attributable to Hydrocarbons produced from the respective Seller’s interest in Seller’s Wells or any interests pooled or unitized therewith.
Gas Imbalances means over-production or under-production subject to an imbalance or make-up obligation with respect to gas produced from or allocated to the Subject Interests, regardless of whether such over-production or under-production, imbalance or make-up obligation arises at the wellhead, pipeline, gathering system, transportation or other location and regardless of whether the same arises under contract or by operation of Law. BUYER ASSUMES ALL RIGHTS AND LIABILITIES RELATING TO GAS IMBALANCES INCLUDING ANY REVENUE ADJUSTMENT CAUSED BY SUCH GAS IMBALANCES AND AGREES TO DEFEND AND INDEMNIFY SELLER INDEMNITEES FROM AND AGAINST ANY CLAIM, BY ANYONE, ARISING OUT OF SUCH GAS IMBALANCES REGARDLESS OF A SELLER INDEMNITEE’S NEGLIGENCE OR FAULT (INCLUDING STRICT LIABILITY), BUT EXCLUDING SELLER INDEMNITEE’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.
Gas Imbalances means the gas imbalances shown on Schedule 4.13 calculated at the rate of $2.00 per mcf.