Common use of Production Bonuses Clause in Contracts

Production Bonuses. 23.1 The Working Interest Owners, other than the GHPL/ (if applicable), shall pay THE PRESIDENT on an Area basis, the following production bonuses: For avoidance of doubt, the production obtained during EWT period will be treated as a part of cumulative production for the purpose of determining production bonuses as stipulated in the rules. 23.2 Pakistani Working Interest Owners other than GHPL (if applicable) will pay their share of Production Bonuses in Rupees equivalent of United States Dollar converted at the prevailing exchange rate on the day of transaction. GHPL will not pay the production bonuses as long as GOP is the majority shareholder of this company. 23.3 Payments due under this Article shall be made within thirty (30) Days from the date on which the respective production bonus becomes payable. Production bonuses will be expensed on social welfare development projects in and around the Area, as per Guidelines, issued by the Government from time to time. 23.4 Payments made under this Article are not to be amortized, expensed, or credited for Pakistani Income Tax purposes. 23.5 In the event a Working Interest Owner elects not to join in the development of a Commercial Discovery, such a Working Interest Owner shall have no obligation to pay the bonuses provided for in this Article 23. In that case the total amount of production bonus shall be paid by the remaining Working Interest Owners pro-rata to their Working Interest.

Production Bonuses. 23.1 The Working Interest Owners, other than the GHPL/ GHPL/PHC (if applicable), shall pay THE PRESIDENT on an Area basis, the following production bonuses: For avoidance of doubt, the production obtained during EWT period will be treated as a part of cumulative production for the purpose of determining production bonuses as stipulated in the rules. 23.2 Pakistani Local Working Interest Owners other than GHPL GHPL/PHC (if applicable) will pay their share of Production Bonuses in Rupees equivalent of United States Dollar converted at the prevailing exchange rate on the day of transaction. GHPL GHPL/PHC will not pay the production bonuses as long as GOP the Government or the Provincial Government, as the case maybe, is the majority shareholder of this companyGHPL/PHC. 23.3 Payments due under this Article shall be made within thirty (30) Days from the date on which the respective production bonus becomes payable. Production bonuses will be expensed on social welfare development projects in and around the Area, as per Guidelines, Guidelines issued by the Provincial Government from time to time. 23.4 Payments made under this Article are not to be amortized, expensed, or credited for Pakistani Income Tax purposes. 23.5 In the event a Working Interest Owner elects not to join in the development of a Commercial Discovery, such a Working Interest Owner shall have no obligation to pay the bonuses provided for in this Article 23. In that case the total amount of production bonus shall be paid by the remaining Working Interest Owners pro-rata to their Working Interest. 23.6 The first tier of production bonus (i.

Production Bonuses. 23.1 The Working Interest Owners, other than the GHPL/ GHPL/PHC (if applicable), shall pay THE PRESIDENT on an Area basis, the following production bonuses: For avoidance of doubt, the production obtained during EWT and/or ECP period will be treated as a part of cumulative production for the purpose of determining production bonuses as stipulated in the rules. 23.2 Pakistani Local Working Interest Owners other than GHPL GHPL/PHC (if applicable) will pay their share of Production Bonuses in Rupees equivalent of United States Dollar converted at the prevailing exchange rate on the day of transaction. GHPL GHPL/PHC will not pay the production bonuses as long as GOP the Government or the Provincial Government, as the case maybe, is the majority shareholder of this companyGHPL/PHC. 23.3 Payments due under this Article shall be made within thirty (30) Days from the date on which the respective production bonus becomes payable. Production bonuses will be expensed on social welfare development projects in and around the Area, as per Guidelines, Guidelines issued by the Provincial Government from time to time. 23.4 Payments made under this Article are not to be amortized, expensed, or credited for Pakistani Income Tax purposes. 23.5 In the event a Working Interest Owner elects not to join in the development of a Commercial Discovery, such a Working Interest Owner shall have no obligation to pay the bonuses provided for in this Article 23. In that case the total amount of production bonus shall be paid by the remaining Working Interest Owners pro-rata to their Working Interest. 23.6 The first tier of production bonus (i.

Production Bonuses. 23.1 The Working Interest Owners, other than the GHPL/ GHPL/PHC (if applicable), shall pay THE PRESIDENT on an Area basis, the following production bonuses: For avoidance of doubt, the production obtained during EWT and/or ECP period will be treated as a part of cumulative production for the purpose of determining production bonuses as stipulated in the rules. 23.2 Pakistani Local Working Interest Owners other than GHPL GHPL/PHC (if applicable) will pay their share of Production Bonuses in Rupees equivalent of United States Dollar converted at the prevailing exchange rate on the day of transaction. GHPL GHPL/PHC will not pay the production bonuses as long as GOP the Government or the Provincial Government, as the case maybe, is the majority shareholder of this companyGHPL/PHC. 23.3 Payments due under this Article shall be made within thirty (30) Days from the date on which the respective production bonus becomes payable. Production bonuses will be expensed on social welfare development projects in and around the Area, as per Guidelines, Guidelines issued by the Provincial Government from time to time. 23.4 Payments made under this Article are not to be amortized, expensed, or credited for Pakistani Income Tax purposes. 23.5 In the event a Working Interest Owner elects not to join in the development of a Commercial Discovery, such a Working Interest Owner shall have no obligation to pay the bonuses provided for in this Article 23. In that case the total amount of production bonus shall be paid by the remaining Working Interest Owners pro-pro- rata to their Working Interest. 23.6 The first tier of production bonus (i.