Common use of Allocation of Revenues Clause in Contracts

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods prior to the Closing Date shall be for the account of and belong to Seller and that all Net Revenues accrued for all periods commencing on and after the Closing Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after the Closing Date, or which may arise from any act, event or circumstance which occurred after that date, then Seller agrees to hold such amount in trust for the benefit of the Buyer and promptly to deliver said amount to Buyer; and (ii) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to the Closing Date, then Buyer agrees to hold such amount in trust for the benefit of Seller and promptly to deliver said amount to Seller. If CCL determines in its final reconciliation for periods ended on or prior to August 31, 2005, that Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes CCL any amount for such periods (any such excess or debt being referred to as a “Deficiency”), and CCL asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by Buyer, pay such Deficiency to CCL or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer.

Allocation of Revenues. (a) The parties further acknowledge that the Purchase Price has been determined based on an agreement that all Net Revenues of the Containers accrued for the quarter-annual periods October 1 through December 31, 2006, are for the sole account of Buyer. Accordingly, all Net Revenues accrued for all periods prior to the Closing Date October 1, 2006, shall be for the account of and belong to Seller Seller, and that all Net Revenues accrued for all periods commencing on and after the Closing Date October 1, 2006, shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after the Closing DateOctober 1, 2006, or which may arise from any act, event or circumstance which occurred after that date, then Seller agrees to hold such amount in trust for the benefit of the Buyer and promptly to deliver said amount to BuyerBuyer at Closing, if received on or before the Closing, or promptly after receipt if received by Seller after the Closing; and (ii) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to the Closing DateOctober 1, 2006, then Buyer agrees to hold such amount in trust for the benefit of Seller and promptly to deliver said amount to Seller. If CCL Cronos determines in its final reconciliation for periods any period ended on or prior to August 31October 1, 20052006, that Seller has received pursuant to the Prior Management Lease Agreements an excess distribution or otherwise owes CCL Cronos any amount for such periods any period (any such excess or debt being referred to as a “Deficiency”), and CCL Cronos asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by Buyer, pay such Deficiency to CCL Cronos or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer. Buyer has no obligation to pay any such Deficiency, and agrees to notify Seller of any such demand by Cronos prior to paying the same, if it should elect to do so.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods prior to the Closing Date shall be for the account of and belong to Seller and that all Net Revenues accrued for all periods commencing on and after the Closing Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after the Closing Date, or which may arise from any act, event or circumstance which occurred after that date, then Seller agrees to hold such amount in trust for the benefit of the Buyer and promptly to deliver said amount to Buyer; and (ii) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to the Closing Date, then Buyer agrees to hold such amount in trust for the benefit of Seller and promptly to deliver said amount to Seller. If CCL determines in its final reconciliation for periods ended on or prior to August 31, 2005, that Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes CCL any amount for such periods (any such excess or debt being referred to as a “Deficiency”), and CCL asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by Buyer, pay such Deficiency to CCL or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer.

Allocation of Revenues. Seller shall own and receive (aor receive credit in the Closing Statement or the Final Settlement Statement, as applicable, for) The parties acknowledge that all Net Revenues accrued for all periods proceeds from the processing or sale of Hydrocarbons allocable to the Assets prior to the Effective Time, and shall also receive (or receive credit in the Closing Date shall be for Statement or the account of Final Settlement Statement, as applicable, for) and belong hold the right to Seller receive all other revenues, proceeds and that all Net Revenues accrued for benefits attributable to the Assets relating to all periods commencing on before the Effective Time. Buyer shall receive (or receive credit in the Closing Statement or the Final Settlement Statement, as applicable, for) all proceeds from the processing or sale of Hydrocarbons from and after the Effective Time and shall also receive (or receive credit in the Closing Date shall be for Statement or the account of Final Settlement Statement, as applicable, for) and belong hold the right to Buyer. receive all other revenues, proceeds and benefits attributable to the Assets which relate to all periods from and after the Effective Time. If, within ninety (b90) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or days after the Closing Date, or Buyer discovers that proceeds and revenues allocable to Buyer pursuant to this Section 3.1 have been paid to Seller for which credit was not made in the Closing Statement and the amount owed to Buyer exceeds Fifty Thousand Dollars ($50,000) in the aggregate, Buyer may arise from any act, event or circumstance which occurred after that date, then provide written notice to Seller agrees to hold detailing the amount owed and if such amount in trust for is due to Buyer pursuant to the benefit terms of this Agreement, Seller shall pay to Buyer the Buyer and full amount owed, such payment to be made promptly to deliver said amount to Buyer; and following Seller’s verification thereof. If, within ninety (ii90) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to days after the Closing Date, then Seller discovers that proceeds and revenues allocable to Seller pursuant to this Section 3.1 have been paid to Buyer agrees for which credit was not made in the Closing Statement and the amount owed to hold Seller exceeds Fifty Thousand Dollars ($50,000) in the aggregate, Seller may provide written notice to Buyer detailing the amount owed and if such amount in trust for the benefit of is due to Seller and promptly to deliver said amount to Seller. If CCL determines in its final reconciliation for periods ended on or prior to August 31, 2005, that Seller has received pursuant to this section 3.1, Buyer shall pay to Seller the Prior Management Agreements an excess distribution or otherwise owes CCL any full amount for owed, such periods (any such excess or debt being referred payment to as a “Deficiency”), and CCL asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by be made promptly following Buyer, pay such Deficiency to CCL or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer’s verification thereof.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods prior to the Closing Effective Date shall be for the account of and belong to Seller and that all Net Revenues accrued for all periods commencing on and after the Closing Effective Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after the Closing Effective Date, or which may arise from any act, event or circumstance which occurred after that date, then Seller agrees to hold such amount in trust for the benefit of the Buyer and promptly to deliver said amount to BuyerBuyer at Closing, if received for periods after the Effective Date and on or before the Closing, or promptly after receipt if received by Seller for periods prior to the Effective Date after the Closing; and (ii) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to the Closing Effective Date, then Buyer agrees to hold such amount in trust for the benefit of Seller and promptly to deliver said amount to Seller. If CCL determines in its final reconciliation for periods ended on or prior to August October 31, 20052007, that Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes CCL any amount for such periods (any such excess or debt being referred to as a “Deficiency”), and CCL asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by Buyer, pay such Deficiency to CCL or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods prior to the Closing Effective Date shall be for the account of and belong to Seller and that all Net Revenues accrued for all periods commencing on and after the Closing Effective Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after the Closing Effective Date, or which may arise from any act, event or circumstance which occurred after that date, then Seller agrees to hold such amount in trust for the benefit of the Buyer and promptly to deliver said amount to BuyerBuyer at Closing, if received for periods after the Effective Date and on or before the Closing, or promptly after receipt if received by Seller for periods prior to the Effective Date after the Closing; and (ii) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to the Closing Effective Date, then Buyer agrees to hold such amount in trust for the benefit of Seller and promptly to deliver said amount to Seller. If CCL determines in its final reconciliation for periods ended on or prior to August 31June 30, 20052008, that Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes CCL any amount for such periods (any such excess or debt being referred to as a “Deficiency”), and CCL asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by Buyer, pay such Deficiency to CCL or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods prior to the Closing Date shall be for the account of and belong to Seller and that all Net Revenues accrued for all periods commencing on and after the Closing Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after the Closing Date, or which may arise from any act, event or circumstance which occurred after that date, then Seller agrees to hold such amount in trust for the benefit of the Buyer and promptly to deliver said amount to Buyer; and (ii) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to the Closing Date, then Buyer agrees to hold such amount in trust for the benefit of Seller and promptly to deliver said amount to Seller. , If CCL determines in its final reconciliation for periods ended on or prior to August 31, 2005, that Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes CCL any amount for such periods (any such excess or debt being referred to as a “Deficiency”), and CCL asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by Buyer, pay such Deficiency to CCL or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer.

Allocation of Revenues. (a) The parties acknowledge that all Net Revenues accrued for all periods prior to the Closing Effective Date shall be for the account of and belong to Seller and that all Net Revenues accrued for all periods commencing on and after the Closing Effective Date shall be for the account of and belong to Buyer. (b) Except as otherwise provided in this Section 3.03, (i) if Seller shall at any time receive any distribution, payment or other amount in respect of a Container acquired by Buyer which has become, or which may become, due and payable with respect to any period of time commencing on or after the Closing Effective Date, or which may arise from any act, event or circumstance which occurred after that date, then Seller agrees to hold such amount in trust for the benefit of the Buyer and promptly to deliver said amount to BuyerBuyer at Closing, if received for periods after the Effective Date and on or before the Closing, or promptly after receipt if received by Seller for periods prior to the Effective Date after the Closing; and (ii) if Buyer shall receive any distribution, payment or other amount which was due and payable with respect to any period of time prior to the Closing Effective Date, then Buyer agrees to hold such amount in trust for the benefit of Seller and promptly to deliver said amount to Seller. If CCL determines in its final reconciliation for periods ended on or prior to August December 31, 2005, that Seller has received pursuant to the Prior Management Agreements an excess distribution or otherwise owes CCL any amount for such periods (any such excess or debt being referred to as a “Deficiency”), and CCL asserts against or attempts to collect from Buyer any such Deficiency, through offset or otherwise, then Seller or if, at such time, Seller has dissolved or liquidated, CCC shall, upon demand by Buyer, pay such Deficiency to CCL or reimburse Buyer if and to the extent such Deficiency is paid by or assessed against Buyer.