Calculation of Presentment Price Clause Samples

Calculation of Presentment Price. The presentment price shall be based on the Partnership’s net assets and liabilities and shall be allocated pro rata to each Participant in the ratio that his number of Units bears to the total number of Units. Subject to the foregoing, the presentment price shall include the sum of the following Partnership items: (i) an amount based on 70% of the present worth of future net revenues from the Proved Reserves determined as described in §6.03(b); (ii) cash on hand; (iii) prepaid expenses and accounts receivable less a reasonable amount for doubtful accounts; and (iv) the estimated market value of all assets that are not separately specified above, determined in accordance with standard industry valuation procedures. There shall be deducted from the foregoing sum the following Partnership items: (i) an amount equal to all debts, obligations, and other liabilities, including accrued expenses; and (ii) any distributions made to the Participants between the date of the presentment request and the date the presentment price is paid to the selling Participant. However, if any amount of those cash distributions to the Participant by the Partnership was derived from the sale of natural gas, oil or other mineral production, or of a producing property owned by the Partnership, after the date of the presentment request, for purposes of determining the reduction of the presentment price the amount of those cash distributions shall be discounted using the same rate used to take into account the risk factors employed to determine the present worth of the Partnership’s Proved Reserves.

Calculation of Presentment Price. The presentment price shall be allocated pro rata to each Participant in the ratio that his number of Units bears to the total number of Units. Subject to the foregoing, the presentment price shall be the greater of the following:

Calculation of Presentment Price. The presentment price under either (i) or (ii) below shall be allocated pro rata to each Participant in the ratio that his number of Units bears to the total number of Units. Subject to the foregoing, the presentment price shall be the greater of the following: (i) the sum of the following Partnership items: (a) an amount based on 70% of the present worth of future net revenues from the Proved Reserves as determined under the last reserve report of the Partnership prepared by the Managing General Partner and reviewed by an Independent Expert, provided that the Managing General Partner shall estimate the present worth of future net revenues attributable to the Partnership’s interest in the Proved Reserves as described in §4.03(b)(3)(ii); (b) cash on hand;