Common use of FIRST TRANCHE PETROLEUM Clause in Contracts

FIRST TRANCHE PETROLEUM. 6.3.1 Notwithstanding anything to the contrary elsewhere contained in this Contract, the Parties shall be entitled to first take and receive each Year a quantity of Petroleum of fifteen percent (15%) of the Petroleum production of each such Year, called the "First Tranche Petroleum" before any deduction for recovery, Operating Costs and handling of production as provided under this Section VI.

FIRST TRANCHE PETROLEUM. 6.3.1 6.3.1. Notwithstanding anything to the contrary elsewhere contained in this Contract, the Parties shall be entitled to first take and receive each Year a quantity of Petroleum of fifteen twenty percent (1520%) of CONTRACTOR's participating interest share of the Petroleum production of Production for each such Year, called the "First Tranche Petroleum" Petroleum ", before any deduction for recovery, investment credit and recovery of Operating Costs and handling of production as provided under this Section VI.

FIRST TRANCHE PETROLEUM. 6.3.1 Notwithstanding anything to the contrary elsewhere contained in this Contract, the Parties shall be entitled to first take and receive each Year a quantity of Petroleum of fifteen percent Twenty Percent (1520%) of the Petroleum production of for each such Year, called the "“First Tranche Petroleum" ”, before any rely deduction for recovery, recovery of Operating Costs and handling of production as provided herein under this Section VI.