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This excerpt taken from the DMLP 8-K filed Jul 6, 2009. Production”),
together with (i) all proceeds of Production (regardless of whether the
severance of the Production to which such proceeds relates occurred on, before
or after the Reference Date, other than proceeds of Production that are
attributable to periods prior to the Reference Date and that are actually
received by a Contributor prior to the Reference Date), and (ii) all liens
and security interests securing payment of the proceeds from the sale of such
Production, including, but not limited to, those liens and security interests
provided for under statutes enacted in the jurisdiction in which the Properties
are located, or statutes made applicable to the Properties under federal law (or
some combination of federal and state law);
(v) all
interests in all payments received, or to be received, in lieu of production
from the properties, rights and interests described in Sections
1.2(a)(i) or
(ii)
(regardless of whether such payments accrued, and/or the events which gave rise
to such payments occurred, on, before or after the Reference Date, other than
payments attributable to periods prior to the Reference Date and that are
actually received by a Contributor prior to the Reference Date), including,
without limitation, (i) “take or pay” payments and similar payments,
(ii) payments received in settlement of or pursuant to a judgment rendered
with respect to take or pay or similar obligations or other obligations under a
production sales contract, (iii) payments received under a gas balancing
agreement or similar written
2
or oral arrangement, as a result of (or received otherwise in settlement of or pursuant to judgment rendered with respect to) rights held by a Contributor as a result of such Contributor (and/or its predecessors in title) taking or having taken less gas from lands covered by a property right or interest described in Sections 1.2(a)(i) or (ii), than its ownership of such property right or interest would entitle it to receive and (iv) shut-in rental or royalty payments; (vi) to
the extent legally transferable, all interests in all favorable contract rights
and choses in action (i.e., rights
to enforce contracts or to bring claims thereunder) related to the properties,
rights and interests described in Sections
1.2(a)(i) –
(v)
(regardless of whether the same arose, and/or the events which gave rise to the
same occurred on, before or after the Reference Date hereof, and further
regardless of whether same arise under contract, the law or in
equity);
(vii) an
amount of cash in immediately available funds equal to the cash
receipts received by the Contributors during the period beginning on the
Reference Date and ending on the Closing Date (the “ |
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