Ownership Variance Sample Clauses

Ownership Variance. (a) If the adjustment is based upon Seller owning a lesser or greater net revenue interest with a corresponding proportionate lesser or greater working interest in an Asset than that shown on Exhibit “C”, then the adjustment shall be proportionate to the amount allocated to the affected Asset on Exhibit “C”. (b) If the adjustment is based upon Seller owning less or more than the Net Mineral Acres than that set forth on Exhibit “C” for the applicable Lease, then the adjustment shall be equal to the product of (i) the shortfall or overage of Net Mineral Acres for the applicable Lease, times (ii) the applicable per Net Mineral Acre Allocated Value set forth on Exhibit “C”. (c) If the adjustment is based upon a lesser or greater net revenue interest without a corresponding proportionate lesser or greater working interest in an Asset than that shown on Exhibit “C”, then the Parties shall use their best efforts to agree upon a mutually acceptable Base Purchase Price adjustment based upon the Allocated Value for such Asset as set forth on Exhibit “C”.
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Ownership Variance. If the adjustment is based upon Sellers owning a lesser or greater net revenue interest with a corresponding proportionate lesser or greater working interest in a Well than that shown on Exhibit “B”, then the adjustment shall be proportionate to the amount allocated to the affected Well on Exhibit “C”. If the adjustment is based upon a lesser or greater net revenue interest without a corresponding proportionate lesser or greater working interest in a Well than that shown on Exhibit “B”, then the Parties shall use their best efforts to agree upon a mutually acceptable Base Purchase Price adjustment.
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Ownership Variance. If the adjustment is based upon Seller’s owning a lesser or greater net revenue interest or working interest than that shown on Exhibit “A”, then the adjustment shall be proportionate to the amount allocated to the affected Interest on Exhibit “A”. If the value of the Title Defect or Additional Interest, and consequently the adjustment in Base Purchase Price, cannot be determined based upon Sections 4.4(a) or 4.4(b) above, and if the Parties cannot otherwise agree on the validity or the amount of an adjustment, Seller, at its sole option, may elect to: (i) delete the entire Interest(s) affected by the Title Defect or Additional Interest from the Interests being purchased by Buyer and reduce the Base Purchase Price by the Allocated Value set forth on Exhibit “A” attributable to such Interest(s); (ii) in the case of a Title Defect, sell to Buyer the entire Interest(s) affected by the Title Defect but either reduce the Base Purchase Price by the portion of the Allocated Value set forth on Exhibit ”A” attributable to such affected Interest(s) or provide Buyer an indemnity as to claims arising from the Title Defect; or (iii) in the case of an Additional Interest, sell to Buyer the entire Interest(s) affected by the Additional Interest at the original Allocated Value set forth on Exhibit “A” attributable to such Interest(s) proportionately increased to reflect such Additional Interest.
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Ownership Variance. (a) If a Title Defect represents a discrepancy between the actual Net Revenue Interest for any Asset and the Net Revenue Interest set forth in Exhibit A for such Asset, and there is a Working Interest change proportionate to the change in the Net Revenue Interest resulting from the Title Defect, then the Title Defect value for each Asset shall be the product of (A) the Allocated Value for such Asset multiplied by (B) one (1) minus a fraction, the numerator of which shall equal the actual Net Revenue Interest in such Asset, and the denominator of which shall equal the Net Revenue Interest for such Asset set forth in Exhibit A. (b) If the adjustment is based upon Seller owning lesser or greater number of Net Mineral Acres than the number of Net Mineral Acres set forth on Exhibit “A” for the applicable Lease, then the adjustment shall be equal to the product of (i) the difference between the number of Net Mineral Acres set forth on Exhibit “A” and the actual number of Net Mineral Acres owned by Seller pursuant to the applicable Lease, multiplied by (ii) the applicable per Net Mineral Acre Allocated Value set forth on Exhibit “A”. (c) If the Title Defect is of a type not described in Sections 7.4.1, 7.4.2(a) or 7.4.2(b), the Title Defect value will be determined by taking into account the Allocated Value for such Asset, the portion of the Assets affected by the Title Defect, the legal effect of the Title Defect, the potential economic effect of the Title Defect over the life of the affected Assets and such other factors as are necessary to make a proper evaluation of the Title Defect value.
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Ownership Variance. (a) If the adjustment is based upon Seller owning a lesser or greater net revenue interest with a corresponding proportionate lesser or greater working interest in an Asset than that shown on Exhibit “C”, then the adjustment shall be proportionate to the amount allocated to the affected Asset on Exhibit “C”. (b) If the adjustment is based upon a lesser or greater net revenue interest without a corresponding proportionate lesser or greater working interest in an Asset than that shown on Exhibit “C”, then the Parties shall use their best efforts to agree upon a mutually acceptable Base Purchase Price adjustment based upon the Allocated Value for such Asset as set forth on Exhibit “C”.
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Ownership Variance. If the adjustment is based upon Seller owning a lesser or greater net revenue interest with a corresponding proportionate lesser or greater working interest in a Well than that shown on Exhibit “B”, then the adjustment shall be proportionate to the amount allocated to the affected Well on Exhibit “C-1.” If the adjustment is based upon a lesser or greater net revenue interest without a corresponding proportionate lesser or greater working interest in a Well than that shown on Exhibit “B,” then the Parties shall use their best efforts to agree upon a mutually acceptable Base Purchase Price adjustment based upon the Allocated Value for such Well as set forth on Exhibit “C-1.” If the adjustment is based upon a lesser or greater net revenue interest in a given Lease than that shown on Exhibit “C-2,” then the Parties shall use their best efforts to agree upon a mutually acceptable Base Purchase Price adjustment based upon the Allocated Value for such Lease as set forth on Exhibit “C-2.” Likewise, if the adjustment is based upon Seller owning a fewer or greater number of Net Mineral Acres in a Lease than that shown on Exhibit “C-2”, then the adjustment shall be proportionate to the amount allocated to the affected Lease on Exhibit “C-2”.
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Ownership Variance. If the adjustment is based upon Seller owning a lesser or greater Net Revenue Interest with a corresponding proportionate lesser or greater Working Interest in a Well than that shown on Exhibit “B-1” or in an Inventory Location than that shown on Exhibit “B-2”, then the adjustment shall be proportionate to the Allocated Value of the affected Well on Exhibit “E-1” or the Allocated Value of the affected Inventory Location on Exhibit “E-2” (as applicable). If the adjustment is based upon a lesser or greater Net Revenue Interest without a corresponding proportionate lesser or greater Working Interest in a Well than that shown on Exhibit “B-1” or in an Inventory Location than that shown on Exhibit “B‑2”, then the Parties shall use their best efforts to agree upon a mutually acceptable Base Purchase Price adjustment based upon the Allocated Value for such Well as set forth on Exhibit “E‑1” or the Allocated Value of the affected Inventory Location on Exhibit “E-2” (as applicable).
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Ownership Variance. If the adjustment is based upon Seller owning a lesser or greater Net Revenue Interest and proportionate Working Interest than that shown on Exhibit “E,” then the adjustment shall be proportionate to the amount allocated to the affected Asset on Exhibit “E.”
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Ownership Variance. If the adjustment is based upon Sellers owning a lesser or greater net revenue interest with a corresponding proportionate lesser or greater working interest in an Asset than that shown on Exhibit “B”, then the adjustment shall be the Allocated Value of the affected Asset multiplied by a fraction, the numerator of which is the difference in Sellers’ (and Buyer’s, as successor in interest to Sellers) confirmed net revenue interest less Sellers’ net revenue interest shown on Exhibit “B”, and the denominator of which is Sellers’ net revenue interest shown on Exhibit “B”. If the adjustment is based upon a lesser or greater net revenue interest without a corresponding proportionate lesser or greater working interest in an Asset than that shown on Exhibit “B”, then the Parties shall use their best efforts to agree upon a mutually acceptable Base Purchase Price adjustment based upon the Allocated Value for such Asset as set forth on Exhibit “C”.
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Related to Ownership Variance

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