EQUIPMENT AND FACILITIES FURNISHED BY OPERATOR. A. Operator shall charge the Joint Account for use of Operator owned equipment and facilities at rates commensurate with costs of ownership and operation. Those rates shall include costs of maintenance, repairs, other operating expense, insurance, taxes, depreciation, and interest on gross investment less accumulated depreciation not to exceed twenty-five percent (25%) per annum. The rates shall not exceed average commercial rates currently prevailing in the immediate area of the Joint Property. Notwithstanding the foregoing, Non-Operator shall not be charged for depreciation or interest on gross investment in equipment, the cost of which has been otherwise charged by Operator to Non-Operator.
Appears in 4 contracts
Samples: Joint Operating Agreement, Golden Lane Participation Agreement (New Source Energy Partners L.P.), Golden Lane Participation Agreement (New Source Energy Corp)
