Allocation and Valuation Sample Clauses

Allocation and Valuation. The quantity of Forties Blend and Raw Gas to which each Shippers Group shall be entitled is calculated by INEOS using the FPS System allocation and valuation system. This method of allocation and value adjustment is based on process simulation and on the principle that "value in equals value out". The system has been tried, tested and well understood in the industry and is viewed as being fair and equitable. Where Shippers Pipeline Liquids are to be measured and sampled individually to a Fiscal standard, the Shippers Group’s entitlement to Forties Blend and Raw Gas shall be calculated on a primary allocation basis. Where Shippers Pipeline Liquids are to be measured to a fiscal standard as part of a commingled stream, allocation will be performed on secondary basis. By default, all value adjustment is performed at the primary level, with secondary allocation allocating on a volume basis only. As an additional service, the Shippers Group may request INEOS to perform secondary allocation adjusted for both value and volume. The Shippers Operator shall provide or shall procure that the operator of the Intervening System shall provide all information required by INEOS to enable it to perform Secondary Allocation, in accordance with the provisions of Attachment B – Part III to Section 2. The Shippers Group shall pay to INEOS an amount of fifty thousand pounds (£50,000) as a one- off charge to cover the costs of configuring the allocation systems to perform secondary allocation for Shippers Pipeline Liquids in accordance with Attachment B - Part III. The foregoing charge shall be invoiced and paid in accordance with Clause 9 of Section 2.
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Allocation and Valuation. To make allocations, divisions, and ------------------------ distributions of Trust property in cash or in kind, or partly in each; to allocate different kinds or disproportionate shares of property or undivided interests in property among the beneficiaries or separate trusts; and to determine the value of any property so allocated, divided, or distributed.
Sample 1

Related to Allocation and Valuation

  • Allocation Following the Closing, Purchaser shall prepare and deliver to Sellers an allocation of the aggregate consideration among Sellers and, for any transactions contemplated by this Agreement that do not constitute an Agreed G Transaction pursuant to Section 6.16, Purchaser shall also prepare and deliver to the applicable Seller a proposed allocation of the Purchase Price and other consideration paid in exchange for the Purchased Assets, prepared in accordance with Section 1060, and if applicable, Section 338, of the Tax Code (the “Allocation”). The applicable Seller shall have thirty (30) days after the delivery of the Allocation to review and consent to the Allocation in writing, which consent shall not be unreasonably withheld, conditioned or delayed. If the applicable Seller consents to the Allocation, such Seller and Purchaser shall use such Allocation to prepare and file in a timely manner all appropriate Tax filings, including the preparation and filing of all applicable forms in accordance with applicable Law, including Forms 8594 and 8023, if applicable, with their respective Tax Returns for the taxable year that includes the Closing Date and shall take no position in any Tax Return that is inconsistent with such Allocation; provided, however, that nothing contained herein shall prevent the applicable Seller and Purchaser from settling any proposed deficiency or adjustment by any Governmental Authority based upon or arising out of such Allocation, and neither the applicable Seller nor Purchaser shall be required to litigate before any court, any proposed deficiency or adjustment by any Taxing Authority challenging such Allocation. If the applicable Seller does not consent to such Allocation, the applicable Seller shall notify Purchaser in writing of such disagreement within such thirty (30) day period, and thereafter, the applicable Seller shall attempt in good faith to promptly resolve any such disagreement. If the Parties cannot resolve a disagreement under this Section 3.3, such disagreement shall be resolved by an independent accounting firm chosen by Purchaser and reasonably acceptable to the applicable Seller, and such resolution shall be final and binding on the Parties. The fees and expenses of such accounting firm shall be borne equally by Purchaser, on the one hand, and the applicable Seller, on the other hand. The applicable Seller shall provide Purchaser, and Purchaser shall provide the applicable Seller, with a copy of any information described above required to be furnished to any Taxing Authority in connection with the transactions contemplated herein.

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