Division of Interest Sample Clauses

Division of Interest. Employer and Beneficiary shall share in any interest due with respect to the death proceeds on a pro-rata basis as the proceeds due each respectively bears to the total proceeds, excluding any such interest.
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Division of Interest. If, at any time, the interest of a Party is divided among and owned by four (4) or more co-owners, Operator, at its discretion, may require the co-owners to appoint a single trustee or agent with full authority to receive notices, approve expenditures, receive billings for, and approve and pay the Party's share of the joxxx xxxxnses, and to deal generally with, and with power to bind the co owners of the Party's interest within the scope of the operations embraced in this Agreement. All such co-owners may separately dispose of their respective shares of the oil, gas, and condensate produced from the Contract Area and may receive, separately, payment of the sale proceeds thereof.
Sample 1Sample 2Sample 3See All (5)
Division of Interest. Company *After Casing Point Working Interest Percentage --------------------------------------------------------------------------- Chevron U.S.A. Inc. (Chevron) 50.000% Dominion Exploration & Production, Inc. (Dominion) 25.000% Ridgewood Energy Corporation (Ridgewood) 25.000% ------- 100.000% * The Parties' respective interest is subject to that certain Exploration Participation Agreement (Dominion EPA) dated September 1, 2006 between Chevron and Dominion and that certain Exploration Participation Agreement (Ridgewood EPA) dated September 1, 2006 between Chevron and Ridgewood. The working interests shown represent the After Casing Point interest in the Contract Area as referenced in the respective EPA.
Sample 1Sample 2
Division of Interest. Company Working Interest Percentage ------------------------------------------------------------------------- Chevron U.S.A. Inc. (Chevron) 55.000% * Cabot Oil & Gas Corporation (Cabot) 0.000% ** Newfield Exploration Company (Newfield) 10.000% *** Ridgewood Energy Corporation (Ridgewood) 35.000% **** -------- 100.000% * Chevron's interest is subject to three (3) separated Exploration Participation Agreements between Cabot, Newfield and Ridgewood. ** Cabot's interest, rights and obligations are governed by the Exploration Participation Agreement (EPA) dated November 1, 2004 between Chevron and Cabot. Cabot has repudiated its obligations under the EPA and has been placed in default by Chevron. As a defaulting party, Cabot is not entitled to well information. Any Cabot working interest will be determined in accord with the Alternative Dispute Resolution provisions of the EPA. Any Cabot respective working interest percentages will be born out of Chevron's 55% working interest. JOA Exhibit "A" *** Newfield's interest, rights and obligations is pursuant to the Exploration Participation Agreement (EPA) dated November 1, 2004 between Chevron and Newfield. The 10% working interest represents Newfield's After Casing Point interest in the Contract Area as referenced in subject EPA. **** Ridgewood's interest, rights and obligations is pursuant to the Exploration Participation. Agreement (EPA) dated September 1, 2005 between Chevron and Ridgewood. The 35% working interest represents Ridgewood's After Casing Point interest in the Contract Area as referenced in subject EPA.
Sample 1
Division of Interest. 63 26.6 Preferential Rights- ...............................................63
Sample 1
Division of Interest. Company Working Interest Percentage -------------------------------------------------------------------------- Chevron U.S.A. Inc. (Chevron) 55.000% Ridgewood Energy Q Fund, LLC (Ridgewood) 45.000% ** ------- 100.000% * Chevron's interest is subject to the Exploration Participation Agreement (EPA) dated November 30, 2005 between Chevron and Ridgewood. The 55% working interest represents Chevron's After Casing Point interest in the Contract Area as referenced in subject EPA. ** Ridgewood's interest, rights and obligations are pursuant to the Exploration Participation Agreement (EPA) dated November 30, 2005 between Chevron and Ridgewood. The 45% working interest represents Ridgewood's After Casing Point interest in the Contract Area as referenced in subject EPA.
Sample 1
Division of Interest. CREDIT TO: NAME AND ADDRESS 0.0006399 Xxxx Xxx Xxxxx X.X. Xxx 00000 Xxxxxx XX00000 FIRST: The oil run in pursuance of this division order shall be merchantable and become your property upon delivery thereof to any pipe line designated by you. Correction for temperature and deductions for dirt, sediment and other impurities are to be made in accordance with your rules, regulations and customs in effect at the time and place of delivery. You may require that any unmerchantable oil be steamed or treated before you accept it. Each of the undersigned who is an actual operator of said lease warrants that oil run hereunder will be produced and delivered in accordance with all applicable Federal, State and Local Laws, Orders, Rules and Regulations.
Sample 1
AutoNDA by SimpleDocs

Related to Division of Interest

  • Calculation of interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Limitation of Interest It is the intention of each Borrower and Lender to conform strictly to applicable usury laws. Accordingly, if the transactions contemplated hereby would be usurious under applicable law, then, in that event, notwithstanding anything to the contrary in any Loan Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law that is taken, reserved, contracted for, charged or received under any Loan Document or otherwise in connection with the Loan shall under no circumstances exceed the maximum amount of interest allowed by applicable law, and any excess shall be credited to principal by Lender (or if the Loan shall have been paid in full, refunded to any Borrower); and (ii) in the event that maturity of the Loan is accelerated by reason of an election by Lender resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest may never include more than the maximum amount of interest allowed by applicable law, and any interest in excess of the maximum amount of interest allowed by applicable law, if any, provided for in the Loan Documents or otherwise shall be cancelled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited to principal (or if the principal portion of the Loan and any other amounts not constituting interest shall have been paid in full, refunded to any Borrower.) In determining whether or not the interest paid or payable under any specific contingency exceeds the maximum amount allowed by applicable law, Lender shall, to the maximum extent permitted under applicable law (a) exclude voluntary prepayments and the effects thereof, and (b) amortize, prorate, allocate and spread, in equal parts, the total amount of interest throughout the entire contemplated term of the Loan so that the interest rate is uniform throughout the entire term of the Loan; provided, that if the Loan is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the maximum amount allowed by applicable law, Lender shall refund to any Borrower the amount of such excess, and in such event, Lender shall not be subject to any penalties provided by any laws for contracting for, charging or receiving interest in excess of the maximum amount allowed by applicable law.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Determination of Interest (a) The Administrative Agent shall determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Accrual Period and shall advise the Collateral Agent, the Collateral Manager and the Borrower thereof on the third Business Day prior to such Payment Date.

  • Capitalization of Interest The Mortgage Note does not by its terms provide for the capitalization or forbearance of interest.

  • Section 310 Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • CHANGES TO THE CALCULATION OF INTEREST 10.1 Absence of quotations Subject to Clause 10.2 (Market disruption), if LIBOR is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable LIBOR shall be determined on the basis of the quotations of the remaining Reference Banks.

  • Computation of Interest and Related Fees All interest and fees under each Financing Document shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding of a Loan shall be included in the calculation of interest. The date of payment of a Loan shall be excluded from the calculation of interest. If a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged.

  • Calculation of Interest and Fees All calculations of interest and fees under this Agreement and the other Credit Documents for any period (a) shall include the first day of such period and exclude the last day of such period and (b) shall be calculated on the basis of a year of 360 days for actual days elapsed, except that during any period any Loan bears interest based upon the Prime Rate, such interest shall be calculated on the basis of a year of 365 or 366 days, as appropriate, for actual days elapsed.

  • Computation of Interest and Fees All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!