Common use of Access by Sellers Clause in Contracts

Access by Sellers. After the Closing Date, Sellers and their authorized representatives shall have reasonable access (at Seller’s sole cost and expense) during Buyers’ normal business hours to all books and records in the possession of Buyers (to the extent that Sellers have not retained a copy thereof) pertaining to the Properties for periods from to the Effective Date for the purpose of prosecuting or defending claims, lawsuits or other procedures, for audit purposes, or to comply with legal process, rules, regulations or orders of any governmental authority. Sellers at their own expense may copy such records as they deem appropriate. Buyers agree to maintain such books and records for a minimum of seven (7) years after Closing. Buyers shall provide Sellers with a description and listing of the actual costs incurred by Buyers attributable to the drilling and completion of ▇▇▇▇▇ on the Texas Properties, including supporting data and records reasonably requested by Sellers. These cost amount reports shall be provided every quarter for those costs actually incurred by Buyers attributable to the drilling and completion of ▇▇▇▇▇ on the Texas Properties in the previous quarter.

Access by Sellers. After the Closing Date, Sellers and their authorized representatives shall have reasonable access (at Seller’s sole cost and expense) during Buyers’ normal business hours to all books and records in the possession of Buyers (to the extent that Sellers have not retained a copy thereof) pertaining to the Properties for periods from to the Effective Date for the purpose of prosecuting or defending claims, lawsuits or other procedures, for audit purposes, or to comply with legal process, rules, regulations or orders of any governmental authority. Sellers at their own expense may copy such records as they deem appropriate. Buyers agree to maintain such books and records for a minimum of seven (7) years after Closing. .Buyers shall provide Sellers with a description and listing of the actual costs incurred by Buyers attributable to the drilling and completion of ▇▇▇▇▇ on the Texas Properties, including supporting data and records reasonably requested by Sellers. These cost amount reports shall be provided every quarter for those costs actually incurred by Buyers attributable to the drilling and completion of ▇▇▇▇▇ on the Texas Properties in the previous quarter.