ADVANCE XXXXXXXX. Unit Operator shall have the right to require Working Interest Owners to advance their respective shares of estimated Unit Expenditures by submitting to Working Interest Owners, on or before the 15th day of any month, an estimate thereof for the succeeding month, with a request for payment in advance. Within fifteen (15) days thereafter, each Working Interest Owner shall pay to Unit Operator its share of such estimate. Adjustments between estimated and actual Unit Expenditures shall be made by Unit Operator at the close of each calendar month, and the accounts of Working Interest Owners shall be adjusted accordingly.
Appears in 2 contracts
Samples: Unit Operating Agreement (Pacific Energy Resources LTD), Unit Operating Agreement (Pacific Energy Resources LTD)
ADVANCE XXXXXXXX. Unit Operator shall have the right to require Working Interest Owners to advance their respective shares of estimated Unit Expenditures Expense by submitting to Working Interest Owners, on or before the 15th day of any month, an itemized estimate thereof for the succeeding month, with a request for payment in advance. Within fifteen (15) days thereafter, each Working Interest Owner shall pay to Unit Operator its share of such estimate. Adjustments between estimated and actual Unit Expenditures Expense shall be made by Unit Operator at the close of each calendar month, and the accounts of Working Interest Owners shall be adjusted accordingly.
Appears in 2 contracts
Samples: Unit Operating Agreement (Resaca Exploitation, Inc.), Unit Operating Agreement (Resaca Exploitation, Inc.)
