Materials Furnished by Operator. Materials required for operations shall be purchased for direct charge to the Joint Account whenever practicable, except the Operator may furnish such Materials from its stock under the following conditions:
Materials Furnished by Operator. Materials required for operations shall be purchased for direct charge to the Project Account whenever practicable, except the Operator may furnish such Equipment and/or other Materials from its stock under the following conditions:
Materials Furnished by Operator. Materials required for operations shall be purchased for direct charge to the Joint Account whenever practicable, except the Operator may furnish such Materials from its stock under the following conditions: 4.2.1 NEW MATERIALS (CONDITION "A"). New Materials transferred from the warehouse or other properties of Operator shall be priced at net cost determined in accordance with Section 4.1 above as if Operator had purchased such new Material just prior to its transfer. Such net costs shall in no event exceed the then current market price. 4.2.2 USED MATERIALS (CONDITIONS "B" AND "C"). AIPN MODEL INTERNATIONAL ACCOUNTING PROCEDURE MAY 17, 2000 PAGE 13 <PAGE> 4.2.2.1 Material which is in sound and serviceable condition and suitable for use without repair or reconditioning shall be classed as Condition "B" and priced at seventy-five percent (75%) of such new purchase net cost at the time of transfer. 4.2.2.2 Materials not meeting the requirements of Section 4.2.2.1 above, but which can be made suitable for use after being repaired or reconditioned, shall be classed as Condition "C" and priced at fifty percent (50%) of such new purchase net cost at the time of transfer. The cost of reconditioning shall also be charged to the Joint Account provided the Condition "C" price, plus cost of reconditioning, does not exceed the Condition "B" price; and provided that Material so classified meet the requirements for Condition "B" Material upon being repaired or reconditioned. 4.2.2.3 Material which cannot be classified as Condition "B" or Condition "C", shall be priced at a value commensurate with its use. 4.2.2.4 Tanks, derricks, buildings, and other items of Material involving erection costs, if transferred in knocked-down condition, shall be graded as to condition as provided in this Section 4.2.2 of Section IV, and priced on the basis of knocked-down price of like new Material. 4.2.2.5 Material including drill pipe, casing and tubing, which is no longer useable for its original purpose but is useable for some other purpose, shall be graded as to condition as provided in this Section 4.2.2 of Section IV. Such Material shall be priced on the basis of the current price of items normally used for such other purpose if sold to third parties. PREMIUM PRICES. 4.3 Whenever Material is not readily obtainable at prices specified in Sections 4.1 and 4.2 of this Section IV because of national emergencies, strikes or other unusual causes over which Operator has no control, Operat...
Materials Furnished by Operator. Materials required for opera tions shall be purchased for direct charge to the Joint Account whenever practicable, except the Operator or any other party may furnish such Materials from its stock under the following conditions:
Materials Furnished by Operator. Materials required for Joint Operations shall be purchased for direct charge (as the price paid) to the Joint Account whenever practicable and allowed by the applicable provisions of law, except the Operator may furnish such Materials from its stock under the conditions below and the Materials purchased shall be a part of Joint Property.
