Suspense Amounts definition

Suspense Amounts shall have the meaning ascribed thereto in Section 3.01(c)(ii).
Sample 1
Suspense Amounts has the meaning set forth in Section 10.4.
Sample 1
Suspense Amounts. As set forth and itemized on Schedule 10.4, with respect to oil and gas heretofore produced from and attributable to the Assets, Seller currently maintains records of monies withheld by operators for the benefit of and payable to Seller (the “Suspense Amounts”). Schedule 10.4 further sets forth reasonable detail indicating whether such Suspense Amounts are attributable to the Assets for (and the amounts allocable to) periods prior to the Effective Time and from and after the Effective Time. As between Buyer and Seller, (i) all Suspense Amounts being held by third party operators and attributable to the Assets prior to the Effective Time shall be for the account of Seller and (ii) all Suspense Amounts being held by third party operators and attributable to the Assets from and after the Effective Time shall be for the account of Buyer. If Buyer receives after the Closing Date any Suspense Amounts attributable to the Assets prior to the Effective Time, then Buyer shall promptly forward the same to Seller after receipt thereof.
Sample 1

Examples of Suspense Amounts in a sentence

  • From and after the Closing Date, Buyer shall assume all responsibility for the Suspense Amounts and the escheat actions and obligations related thereto, and shall indemnify and hold Seller harmless from any claim or liability with respect thereto.

  • The responsibility for payment of and escheat actions and obligations related to the Suspense Amounts held in suspense by Seller for periods prior to the Effective Time as to any of the Assets (such as suspended royalties held in the ordinary course of business as a result of title defects or changes of ownership) and the Suspense Amounts so held shall be transferred to Buyer at the Closing Date (along with all reasonable supporting documentation to the extent in Seller’s possession).

  • After such time, the Suspense Amounts and any items accruing to suspense on account of production from the Assets shall be the responsibility of Buyer.

  • In the event any Deferred Cash Contributions returned under this paragraph were matched by Matching Contributions under Section 3.03, those Matching Contributions, together with Earnings, shall be forfeited and treated as Suspense Amounts.

  • Except with respect to the Suspense Amounts, Seller or the operator of the Property will be responsible for regulatory and/or reporting obligations and will make, or cause to be made, disbursements of proceeds of production (including but not limited to payment of royalties for all production through the second calendar month following the Closing Date, and such disbursements will be accounted for in the final accounting statement.

  • To Seller’s knowledge, during the past one (1) year and except as set forth on Schedule 4.19, all material Royalties with respect to the Assets have been or will be properly and timely paid (or constitute Suspense Amounts), or if not paid, are being contested in good faith in the normal course of business.

  • Within five (5) business days after the Closing Date, Seller shall provide to Buyer (a) information regarding all Suspense Amounts as of the Effective Time, including the reasons that the funds are in suspense, and (b) Seller’s division of interest and all supporting documentation regarding the parties that are entitled to such Suspense Amounts.

  • Except with respect to the Suspense Amounts, Sellers will make disbursements of proceeds of production for all production through the next calendar month following the Closing Date, and such disbursements will be accounted for in the final accounting statement.

  • In the event any Deferred Cash Contributions returned under this Section were matched by Matching Contributions, such corresponding Matching Contributions, with Earnings thereon, shall be forfeited and treated as Suspense Amounts.

  • The adjusted Sale Price shall mean the Sale Price adjusted as provided herein, including but not limited to a deduction for the Earnest Money, reductions for Defects and Properties removed from xxxx transaction, increases for interest variances, and deductions for Taxes, Suspense Amounts and preferential rights exercised.


More Definitions of Suspense Amounts

Suspense Amounts has the meaning set forth in Section 2.03(p). {1919007;4} - 4 -
Sample 1
Suspense Amounts means all proceeds from sales of Hydrocarbons relating to the Leases that are payable by Seller to owners of working interests, royalties or overriding royalties that are held in suspense by Seller as of the Closing Date (including funds held in suspense for unleased mineral interests).
Sample 1
Suspense Amounts as defined in Section 6.17.
Sample 1
Suspense Amounts has the meaning set forth in Section 2.03(p).
Sample 1

Related to Suspense Amounts

  • Suspense Account means the account established by the Trustee for maintaining contributions and forfeitures which have not yet been allocated to Participants.

  • Available Amounts means, with respect to any Distribution Date, the sum of Available Interest and Available Principal for such Distribution Date.

  • Escrow Payments With respect to any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor with the mortgagee pursuant to the Mortgage or any other document.

  • Expense Amount As defined in Section 11.01(b) hereof.

  • Excess Amounts means Available Monies after distributions made in accordance with Section 7.05.

  • Contribution Amounts the aggregate amount of capital contributions applied by the Borrower to permit the Incurrence of Contribution Indebtedness pursuant to Subsection 8.1(b)(xi).

  • Unrelated Amounts means (a) amounts deposited by the Servicer into the Collection Account but later determined by the Servicer to be mistaken or returned deposits or postings, (b) amounts deposited by the Servicer into the Collection Account as Collections but which were later determined by the Servicer to not constitute Collections with respect to the Receivables and (c) amounts received by the Servicer with respect to a Receivable that the Servicer is prohibited from depositing into the Collection Account or otherwise remitting to the Issuer by law or court order, the direction of a regulatory authority or regulatory guidance.

  • Indemnity Escrow Amount means $3,000,000.

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Allocable Amounts, when used with respect to any Senior Indebtedness, means all amounts due or to become due on such Senior Indebtedness less, if applicable, any amount which would have been paid to, and retained by, the holders of such Senior Indebtedness (whether as a result of the receipt of payments by the holders of such Senior Indebtedness from the Company or any other obligor thereon or from any holders of, or trustee in respect of, other indebtedness that is subordinate and junior in right of payment to such Senior Indebtedness pursuant to any provision of such indebtedness for the payment over of amounts received on account of such indebtedness to the holders of such Senior Indebtedness or otherwise) but for the fact that such Senior Indebtedness is subordinate or junior in right of payment to (or subject to a requirement that amounts received on such Senior Indebtedness be paid over to obligees on) trade accounts payable or accrued liabilities arising in the ordinary course of business.

  • Escrow Cash is defined in Section 4.1(a).

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Adjustment Escrow Funds means the amounts held in the Adjustment Escrow Account, including any dividends, interest, distributions and other income received in respect thereof, less any losses on investments thereof, less distributions thereof in accordance with this Agreement and the Escrow Agreement.

  • Disputed Amounts has the meaning set forth in Section 2.04(c)(iii).

  • Excluded Amounts means:

  • Expense Account The account established pursuant to Section 10.3(c).

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Undisputed Amounts has the meaning set forth in Section 2.04(c)(iii).

  • Escrow Payment Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items in respect of the related Mortgaged Property, including amounts for deposit to any reserve account.

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Settlement Funds means Standard Settlement Funds and Maximizing Settlement Funds.

  • Holdback Amount has the meaning set forth in Section 2.06(a).

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.