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. 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. 15.1 Subject to the provisions of subsection 15.3, for any period after the commencement of Commercial Production and provided that each Joint Operator has paid its respective Cost Share of Operating Costs for that period, each Joint Owner will take in kind and separately dispose of Product in the ratio of its Interest. Division of Product will take place at the Facilities unless in the opinion of either Joint Operator an equitable division of Product cannot be performed at the Facilities in which event division of Product will be performed at the refinery or other facilities at which an equitable division can be made by separation of payable metals.
15.2 For purposes of determining the value of Product taken in kind pursuant to subsection 15.3, each Joint Operator's share of Product will be valued at the time of delivery to the Joint Operators (or purchase or sale by the Taking Joint Operator pursuant to subsection 15.5) and at a value equal to that received by the Joint Operators after deduction of:
(a) all costs of transporting Product, including insurance, from the Property to the place of delivery designated by the purchaser of such Product,
(b) such reasonable charge for marketing Product as is consistent with generally accepted industry marketing practices, and
(c) all taxes (other than income taxes), royalties or other charges or imposts provided for pursuant to any law or legal obligation imposed by any government if paid by either or both Joint Operators in connection with the disposition of Product taken in kind.
15.3 If one Joint Operator makes any payment on behalf of the other Joint Operator pursuant to:
(a) subsection 14.5, it will have the prior and preferred right to receive that Non-Contributing Joint Operator's share of Product pursuant to subsection 15.1 until the Contributing Joint Operator has received Product in kind of a value equal to the actual payment made plus interest as provided therein from time to time from the date of advance of such funds;
(b) subsections 10.7 or 11.5, it will have the prior and preferred right to receive that Non- Contributing Joint Operator's share of Product pursuant to subsection 15.1 until the Contributing Joint Operator has received Product in kind of a value equal to the actual payment made by the Contributing Joint Operator pursuant to subsections 10.7 or 11.5 together with interest as provided therein on the outstanding balance from time to time from the date of advance of such funds; or
(c) subse...
Disposition of Production. Taking in Kind 10.02 Failure of Participant to Take in Kind
Disposition of Production. 34 11.1 Taking in Kind..................................................................... 34 11.2 Failure of Participant to Take in Kind............................................. 34
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 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 place of d...
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
