OPERATOR'S FEE. 6.1 The Operator may charge the following sums in satisfaction of its general overhead costs which are not charged directly as provided in the Accounting Procedure: (a) with respect to Programs: (i) 2% for each individual contract which includes an overhead charge by the person contracted; (ii) 5% for each individual contract which exceeds $100,000 and does not include an overhead charge by the person contracted; (iii) 10% of all other Exploration Costs; (b) with respect to Construction, 1% of all Construction Costs; (c) subsequent to the Completion Date, 5% of all Operating Costs.
Appears in 3 contracts
Samples: Option Agreement (Pengram Corp), Option Agreement (Pengram Corp), Option Agreement (Merritt Ventures Corp)
OPERATOR'S FEE. 6.1 The Operator may charge the following sums in satisfaction of its general overhead costs which are not charged directly as provided in the Accounting Procedure:
(a) with respect to Programs:
(i) 2% for each individual contract which includes an overhead charge by the person contracted;,
(ii) 5% for each individual contract which exceeds $100,000 and does not include an overhead charge by the person contracted;, and
(iii) 10% of all other Exploration Costs;
(b) with respect to Construction, 1% of all Construction Costs;; and
(c) subsequent to the Completion Date, 5% of all Operating Costs.
Appears in 1 contract
Samples: Option Agreement
OPERATOR'S FEE. 6.1 The Operator may charge the following sums in satisfaction of its general overhead costs which are not charged directly as provided in the Accounting Procedure:
(a) with respect to Programs:
(i) 2% for each individual contract which includes an overhead charge by the person contracted;
(ii) 5% for each individual contract which exceeds $100,000 and does not include an overhead charge by the person contracted;
(iii) 10% of all other Exploration Costs;
(b) with respect to Construction, 1% of all Construction Costs;; and
(c) subsequent to the Completion Date, 5% of all Operating Costs.
Appears in 1 contract
