Disposition of Production. (a) Each participant shall have the right to take its share of production in kind.
(b) The operator will be free to sell the share of production of any participant who fails to take its share in kind or make arrangements for sale, deducting its costs and expenses from the proceeds.
Disposition of Production. Neither Member shall have any obligation to account to the other Member for, nor have any interest or right of participation in any profits or proceeds nor have any obligation to share in any losses from, futures contracts, forward sales, trading in puts, calls, options or any similar hedging, price protection or marketing mechanism employed by a Member with respect to its proportionate share of any Products produced or to be produced from the Properties.
Disposition of Production. 22.1 Take-in-Kind Facilities Subject to Article 22.2, a Party may, at its sole cost and risk, construct Take-in-Kind Facilities to take its share of Hydrocarbon production in kind.
Disposition of Production. (a) As provided in Sec• tion 27(a)(2) of the Act, the Lessor shall have the right to purchase not more than 16-2/3 percent by volume of the oi l and gas produced pursuant to the lease at the regulated price, or i f no regulated price applies, at the fair market value at the well head of the oil and gas saved, removed, or sold, except that any oil or gas obtained by the Lessor as royalty or net profit share shall be credited against the amount that may be purchased under this subsection.
Disposition of Production. Taking In Kind
10.1 Each Participant shall take in kind or separately dispose of its share of all Products in accordance with its Participating Interest. Any extra expenditure incurred in the taking in kind or separate disposition by any Participant of its proportionate share of Products shall be borne by such Participant. Nothing in this Agreement shall be construed as providing, directly or indirectly, for any joint or cooperative marketing or selling of Products or permitting the processing of Products of anyone other than the Participants at any processing facilities constructed by the Participants pursuant to this Agreement. The Manager shall give the Participants notice at least ten calendar days in advance of the delivery date upon which their respective shares of Products will be available. Failure of Participant to Take in Kind
10.2 If a Participant fails to take its share of Products in kind, the Manager may, but is not obligated, to sell such share on behalf of that Participant at not less than the prevailing market price in the area for a period of time not to exceed one year from the date of notice under §10.
1. Subject to the terms of any such contracts of sale then outstanding, during any period that the Manager is selling a Participant's share of production, the Participant may elect by notice to the Manager to take in kind. The Manager shall be entitled to deduct from proceeds of any sale by it for the account of a Participant reasonable expenses incurred in such a sale. Hedging
10.3 Neither Participant shall have any obligation to account to the other Participant for, nor have any interest or right of participation in any profits or proceeds, nor have any obligation to share in any losses from, future contracts, forward sales, trading inputs, calls, options or any similar hedging, price protection or marketing mechanism employed by a Participant with respect to its proportionate share of any Products produced or to be produced from the Property.
10.4 For purposes of determining the value of Mineral Products taken in kind pursuant to §10.1, each Participant's share of Products shall be valued at the time of delivery to the Participants at a value equal to that received by the other party for its share of the Products after deduction of:
(a) all smelting and other refining costs incurred with an independent third party smelter or other refining facility;
(b) all costs of transporting Products, including insurance, from the Property to the p...
Disposition of Production. 57 22.1 Take-in-Kind Facilities ..........................................................................57 22.2 Duty to Take-in-Kind .............................................................................57 22.3 Failure to Take Oil and Condensate in-Kind .......................................................58 22.4 Failure to Take Gas in-Kind ......................................................................58 22.5 Expenses of Delivery in-Kind .....................................................................58
Disposition of Production. 31 11.1 Taking in Kind..............................................................................31 11.2 Failure of Participant to Take In Kind......................................................31
Disposition of Production. Left blank intentionally.
Disposition of Production. 22.1 Facilities to Take in Kind . . . . . . . . . . . . . . . . . . . 34. 22.2 Duty to Take in Kind . . . . . . . . . . . . . . . . . . . . . . 34. 22.3 Failure to Take in Kind. . . . . . . . . . . . . . . . . . . . . 34. 22.4 Expenses of Delivery in Kind.. . . . . . . . . . . . . . . . . . 35. 22.5 Gas Balancing Provisions . . . . . . . . . . . . . . . . . . . . 35. ARTICLE XXIII
Disposition of Production. Subject to the second sentence of this Section 5.9, the Company shall from time to time sell or otherwise dispose of any Products produced from the Properties and may, but shall not be obligated, from time to time use futures contracts, forward sales, trading in puts, calls, options and any similar hedging, price protection and/or other marketing mechanisms in connection with such disposition. A Member may elect to receive Products in kind upon payment by such Member to the Company pursuant to an agreement approved by the Management Committee of all additional costs and expenses relating to such Member's taking in kind.
