FMV Capital Account Allocations. Each item of income, gain, loss, or deduction shall be allocated to each Party as follows: 6.1.1 Actual or deemed income from the sale, exchange, distribution or other disposition of production shall be allocated to the Party entitled to such production or the proceeds from the sale of such production. The amount received from the sale of production and the amount of the FMV of production taken in kind by the Parties are deemed to be identical: accordingly, such items may be omitted from the adjustments made to the Parties’ FMV capital accounts. 6.1.2 Exploration cost, IDC, operating and maintenance cost shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such cost. 6.1.3 Depreciation shall be allocated to each Party in accordance with its contribution, or obligation to contribute, to the cost of the underlying asset. 6.1.4 Simulated depletion shall be allocated to each Party in accordance with its FMV capital account adjusted basis in each oil and gas property of the Partnership. 6.1.5 Loss (or simulated loss) upon the sale, exchange, distribution, abandonment or other disposition of depreciable or depletable property shall be allocated to the Parties in the ratio of their respective FMV capital account adjusted bases in the depreciable or depletable property. 6.1.6 Gain (or simulated gain) upon the sale, exchange, distribution, or other disposition of depreciable or depletable property shall be allocated to the Parties so that the FMV capital account balances of the Parties will most closely reflect their respective percentage or fractional interests under the Agreement. 6.1.7 Costs or expenses of any other kind shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such costs or expense. 6.1.8 Any other income item shall be allocated to the Parties in accordance with the Xxxx XxXx Eagle Ford TPP manner in which such income is realized by each Party.
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Samples: Exploration and Development Agreement (ZaZa Energy Corp)
FMV Capital Account Allocations. Each Unless otherwise agreed by the Partners, each item of income, gain, loss, or deduction shall be allocated to each Party as follows:
6.1.1 Actual or deemed income from the sale, exchange, distribution or other disposition of production shall be allocated to the Party entitled to such production or the proceeds from the sale of such production. The amount received from the sale of production and the amount of the FMV of production taken in kind by the Parties are deemed to be identical: ; accordingly, such items may be omitted from the adjustments made to the Parties’ ' FMV capital accounts.
6.1.2 Exploration cost, IDC, operating and maintenance cost shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such cost, or in such other manner as agreed upon by the Partners from time to time.
6.1.3 Depreciation shall be allocated to each Party in accordance with its contribution, or obligation to contribute, to the cost of the underlying asset, or in such other manner as may be agreed upon by the Partners.
6.1.4 Simulated depletion shall be allocated to each Party in accordance with its FMV capital account adjusted basis in each oil and gas property of the Partnership, or in such other manner as may be agreed upon by the Partners.
6.1.5 Loss (or simulated loss) upon the sale, exchange, distribution, abandonment or other disposition of depreciable or depletable property shall be allocated to the Parties in the ratio of their respective FMV capital account adjusted bases in the depreciable or depletable property.
6.1.6 Gain (or simulated gain) upon the sale, exchange, distribution, or other disposition of depreciable or depletable property shall be allocated to the Parties so that the FMV capital account balances of the Parties will most closely reflect their respective percentage or fractional interests under the Agreement.
6.1.7 Costs or expenses of any other kind shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such costs or expense.
6.1.8 Any other income partnership allocations of any item shall specified in the Provisions of this Paragraph can be allocated to in a different manner than specified herein upon the Parties in accordance with agreement of the Xxxx XxXx Eagle Ford TPP manner in which such income is realized by each PartyPartners.
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FMV Capital Account Allocations. Each item of income, gain, loss, or deduction shall be allocated to each Party as follows:
6.1.1 Actual or deemed income from the sale, exchange, distribution or other disposition of production shall be allocated to the Party entitled to such production or the proceeds from the sale of such production. The amount received from the sale of production and the amount of the FMV of production taken in kind by the Parties are deemed to be identical: ; accordingly, such items may be omitted from the adjustments made to the Parties’ FMV capital accounts.
6.1.2 Exploration cost, IDC, operating and maintenance cost shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such cost.
6.1.3 Depreciation shall be allocated to each Party in accordance with its contribution, or obligation to contribute, to the cost of the underlying asset.
6.1.4 Simulated depletion shall be allocated to each Party in accordance with its FMV capital account adjusted basis in each oil and gas property of the Partnership.
6.1.5 Loss (or simulated loss) upon the sale, exchange, distribution, abandonment or other disposition of depreciable or depletable property shall be allocated to the Parties in the ratio of their respective FMV capital account adjusted bases in the depreciable or depletable property.
6.1.6 Gain (or simulated gain) upon the sale, exchange, distribution, or other disposition of depreciable or depletable property shall be allocated to the Parties so that the FMV capital ¦ account balances of the Parties will most closely reflect their respective percentage or fractional interests under the Agreement.
6.1.7 Costs or expenses of any other kind shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such costs or expense.
6.1.8 Any other income item shall be allocated to the Parties in accordance with the Xxxx XxXx Eagle Ford TPP manner in which such income is realized by each Party.
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FMV Capital Account Allocations. Each item of income, gain, loss, or deduction shall be allocated to each Party as follows:
6.1.1 Actual or deemed income from the sale, exchange, distribution or other disposition of production shall be allocated to the Party entitled to such production or the proceeds from the sale of such production. The amount received from the sale of production and the amount of the FMV of production taken in kind by the Parties are deemed to be identical: ; accordingly, such items may be omitted from the adjustments made to the Parties’ ' FMV capital accounts.
6.1.2 Exploration cost, IDC, operating and maintenance cost shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such cost.
6.1.3 Depreciation shall be allocated to each Party in accordance with its contribution, or obligation to contribute, to the cost of the underlying asset.
6.1.4 Simulated depletion shall be allocated to each Party in accordance with its FMV capital account adjusted basis in each oil and gas property of the Partnership.
6.1.5 Loss (or simulated loss) upon the sale, exchange, distribution, abandonment or other disposition of depreciable or depletable property shall be allocated to the Parties in the ratio of their respective FMV capital account adjusted bases in the depreciable or depletable property.
6.1.6 Gain (or simulated gain) upon the sale, exchange, distribution, or other disposition of depreciable or depletable property shall be allocated to the Parties so that the FMV capital account balances of the Parties will most closely reflect their respective percentage or fractional interests under the Agreement.
6.1.7 Costs or expenses of any other kind shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such costs or expense.
6.1.8 Any other income item shall be allocated to the Parties in accordance with the Xxxx XxXx Eagle Ford TPP manner in which such income is realized by each Party.
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Samples: Offshore Operating Agreement (Ridgewood Energy Q Fund LLC)
FMV Capital Account Allocations. Each item of income, gain, loss, or deduction shall be allocated to each Party as follows:
6.1.1 Actual or deemed income from the sale, exchange, distribution or other disposition of production shall be allocated to the Party entitled to such production or the proceeds from the sale of such production. The amount received from the me sale of production and the amount of the FMV of production taken in kind by the Parties are deemed to be identical: ; accordingly, such items may be omitted from the adjustments made to the Parties’ FMV capital accounts.
6.1.2 Exploration cost, IDC, operating and maintenance cost shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such cost.
6.1.3 Depreciation shall be allocated to each Party in accordance with its contribution, or obligation to contribute, to the cost of the underlying asset.
6.1.4 Simulated depletion shall be allocated to each Party in accordance with its FMV capital account adjusted basis in each oil and gas property of the Partnership.
6.1.5 Loss (or simulated loss) upon the sale, exchange, distribution, abandonment or other disposition of depreciable or depletable property shall be allocated to the Parties in the ratio of their respective FMV capital account adjusted bases in the depreciable or depletable property.
6.1.6 Gain (or simulated gain) upon the sale, exchange, distribution, or other disposition of depreciable or depletable property shall be allocated to the Parties so that the FMV capital account balances of the Parties will most closely reflect their respective percentage or fractional interests under the Agreement.
6.1.7 Costs or expenses of any other kind shall be allocated to each Party in accordance Xxxx XxXx Hackberry Creek TPP with its respective contribution, or obligation to contribute, to such costs or expense.
6.1.8 Any other income item shall be allocated to the Parties in accordance with the Xxxx XxXx Eagle Ford TPP manner in which such income is realized by each Party.
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Samples: Exploration and Development Agreement (ZaZa Energy Corp)
FMV Capital Account Allocations. Each item of income, gain, loss, loss or deduction shall be allocated to each Party as follows:
6.1.1 (a) Actual or deemed income from the sale, exchange, distribution or other disposition of production shall be allocated to the Party entitled to such production or the proceeds from the sale of such production. The amount received In the event that deemed income arising from the sale inkind distribution of production and the amount equals that fair market value of the FMV of production taken in kind by distributed to a Party, the Parties are deemed to recognize that the corresponding adjustments would be identical: a net zero adjustment and accordingly, such items may be omitted from the adjustments made to the Parties’ FMV capital accounts.;
6.1.2 (b) Exploration cost, IDC, operating and maintenance cost costs shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, contribution to such cost.;
6.1.3 (c) Depreciation shall be allocated to each Party in accordance with its contribution, or obligation to contribute, contribution to the cost FMV capital account adjusted basis of the underlying asset.;
6.1.4 (d) Simulated depletion shall be allocated to each Party in accordance with its FMV capital account adjusted basis in each oil and gas property of the Partnership.property;
6.1.5 (e) Loss (or simulated losslogs) upon the sale, exchange, distribution, abandonment or other disposition of depreciable or depletable property property, shall be allocated to the Parties in the ratio of their respective FMV capital account adjusted bases basis in the depreciable or depletable property.;
6.1.6 (f) Gain (or simulated gain) upon the sale, exchange, distribution, distribution or other disposition of depreciable or depletable property property, shall be allocated to the Parties so that the FMV capital account balances of the Parties Parties, with respect to such property, will most closely reflect their respective percentage percentages or fractional interests interest under the Agreement.;
6.1.7 (g) Costs or expenses of any other kind shall be allocated to and accounted for by each Party in accordance with its respective contribution, or obligation to contribute, contribution to such costs or expense.expenses; and,
6.1.8 (h) Any other income item shall be allocated to the Parties in accordance with the Xxxx XxXx Eagle Ford TPP manner in which such income is realized by each Partyallocation of realization.
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FMV Capital Account Allocations. Each item of income, gain, loss, loss or deduction shall be allocated to each Party as follows:
6.1.1 Actual or deemed income from the sale, exchange, distribution or other disposition of production shall be allocated to the Party entitled to such production or the proceeds from the sale of such production. The amount received from the sale of production and the amount of the FMV of production taken in kind by the Parties are deemed to be identical: ; accordingly, such items may be omitted from the adjustments made to the Parties’ FMV capital accounts.
6.1.2 Exploration cost, IDC, operating and maintenance cost shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such cost.
6.1.3 Depreciation shall be allocated to each Party in accordance with its contributioncontributions, or obligation obligations to contribute, to the cost of the underlying asset.
6.1.4 Simulated depletion shall be allocated to each Party in accordance with its FMV capital account adjusted basis in each oil and gas property of the Partnership.
6.1.5 Loss (or simulated loss) upon the sale, exchange, distribution, abandonment or other disposition of depreciable or depletable property shall be allocated to the Parties in the ratio of their respective FMV capital account adjusted bases in n the depreciable or depletable property.
6.1.6 Gain (or simulated gain) upon the sale, exchange, distribution, or other disposition of depreciable or depletable property shall be allocated to the Parties so that the FMV capital account balances of the Parties will most closely reflect their respective percentage or of fractional interests under the Agreement.
6.1.7 Costs or expenses of any other kind shall be allocated to each Party in accordance with its respective contribution, or obligation to contribute, to such costs cost or expense.
6.1.8 Any other income item shall be allocated to the Parties in accordance with the Xxxx XxXx Eagle Ford TPP manner in which such income is realized by each Party.
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