Common use of Determination of Shares Clause in Contracts

Determination of Shares. In each Calendar Year, the Parties shall take and receive the following shares of every grade and quality of Petroleum as and when it is delivered at the Field Export Point: (a) the Designated Authority: (i) five (5) percent; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (b) the Contractor: (i) ninety five (95) percent but not more than is equal in value to Recoverable Costs for the Calendar Year concerned; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (c) any Petroleum not taken by the Contractor under sub-paragraph 7.1(b)(i) shall be shared as to forty (40) percent by the Designated Authority and as to sixty (60) percent by the Contractor.

Determination of Shares. In each Calendar Year, the Parties shall take and receive the following shares of every grade and quality of Petroleum as and when it is delivered at the Field Export Point: (a) the Designated AuthorityMinistry: (i) five (5) percent; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (b) the Contractor: (i) ninety five (95) percent but not more than is equal in value to Recoverable Costs for the Calendar Year concerned; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (c) any Petroleum not taken by the Contractor under sub-paragraph 7.1(b)(i7.1(b)(í) shall be shared as to forty (40) percent by the Designated Authority Ministry and as to sixty (60) percent by the Contractor.

Determination of Shares. In each Calendar Year, the Parties shall take and receive the following shares of every grade and quality of Petroleum as and when it is delivered at the Field Export Point: (a) the Designated AuthorityMinistry: (i) five (5) percent; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (b) the Contractor: (i) ninety five (95) percent but not more than is equal in value to Recoverable Costs for the Calendar Year concerned; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (c) any Petroleum not taken by the Contractor under sub-paragraph 7.1(b)(i) shall be shared as to forty (40) percent by the Designated Authority Ministry and as to sixty (60) percent by the Contractor.

Determination of Shares. In each Calendar Year, the Parties shall take and receive the following shares of every grade and quality of Petroleum as and when it is delivered at the Field Export Point: (a) the Designated Authority: (i) five (5) percent; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (b) the Contractor: (i) ninety five percent (95) percent but not more than is equal in value to Recoverable Costs for the Calendar Year concerned; plus (ii) its share of any balance as mentioned in paragraph 7.1(c); (c) any Petroleum not taken by the Contractor under sub-paragraph 7.1(b)(i) shall be shared as to forty fifty (4050) percent by the Designated Authority and as to sixty fifty (6050) percent by the Contractor.