Overhead - Catastrophe. To compensate Operator for overhead costs incurred in the event of expenditures resulting from a single occurrence due to oil spill, blowout, explosion, fire, storm, hurricane, or other catastrophes as agreed to by the Parties, which are necessary to restore the Joint Property to the equivalent condition that existed prior to the event causing the expenditures, Operator shall either negotiate a rate prior to charging the Joint Account or shall charge the Joint Account for overhead based on the following rates:
Appears in 7 contracts
Samples: Operating Agreement (Velocity Oil & Gas, Inc.), Offshore Operating Agreement (Ridgewood Energy P Fund LLC), Offshore Operating Agreement (Ridgewood Enengy K Fund LLC)
Overhead - Catastrophe. To compensate Operator for fur overhead costs incurred in the event of expenditures resulting from a single occurrence due to oil spill, blowout, explosion, fire, storm, hurricane, or other catastrophes as agreed to by the Parties, which are necessary to restore the Joint Property to the equivalent condition that existed prior to the event causing cruising the expenditures, Operator shall either negotiate a rate prior to charging the Joint Account or shall charge the Joint Account for overhead based on the following rates:
Appears in 2 contracts
Samples: Letter Agreement, Joint Operating Agreement (West Texas Resources, Inc.)
