Production, Distribution Sample Clauses
The Production, Distribution clause defines the responsibilities and procedures related to the creation and dissemination of goods or content under an agreement. It typically outlines which party is responsible for manufacturing or producing the product, as well as how and where the product will be distributed, including timelines, territories, and channels. This clause ensures that both parties have a clear understanding of their roles in bringing the product to market, thereby preventing disputes and facilitating efficient delivery to end users.
Production, Distribution. To produce, transmit, distribute and exhibit such motion pictures by and with sound and voice recording, reproducing and transmitting devices, radio devices, television devices and all other devices and improvements, present or future, which may now or hereafter be used for or in connection with the production, transmission, distribution and exhibition of any present or future kind of motion picture productions.
Production, Distribution. 14.2.1 After deducting the percentage that corresponds to royalties, the rest of the hydrocarbons produced from each Commercial Reservoir is the property of the Parties in a proportion of thirty per cent (30%) for ECOPETROL, and seventy per cent (70%) for THE ASSOCIATE, until the time in which the audited accumulated production in the respective Commercial Reservoir reaches sixty (60) million barrels of standard condition liquid hydrocarbons or nine hundred (900) cubic giga feet of standard condition gaseous hydrocarbons, whatever occurs first. (1 cubic giga feet = 1x10/9/ cubic feet). For Reservoirs exploited under the Sole Risk Method, the distribution of the production, after deducting the royalty percentage, is the property of the Parties in a proportion of (100%) for THE ASSOCIATE, and zero per cent (0%) for ECOPETROL, until the audited accumulated production from the respective Reservoir first reaches either one of the aforementioned production limits.
14.2.2 Regardless of the classification of the Commercial Reservoir granted by ECOPETROL upon declaring commerciality, above the limits defined in number
14.2.1 hereunder, the distribution of the production in each Commercial Reservoir (after deducting the percentage that corresponds to royalties) is the property of the Parties in the proportion resulting from applying the R Factor, as explained herein below:
14.2.2.1 If the Hydrocarbon that first reached the limit stated in number 14.2.1 in this Clause was the liquid hydrocarbon, the following table will apply:
Production, Distribution. 14.2.1 After deducting the royalty percentage, the remaining Hydrocarbons produced in each Commercial Field belong to the parties thus: Fifty percent (50%) for ECOPETROL and fifty percent (50%) for THE ASSOCIATE until cumulative production for each Commercial Field reaches 60 million barreis of liquid Hydrocarbons or 420 giga cubic feet of gaseous Hydrocarbons at standard conditions, whichever occurs first (1 cubic giga foot = 1 x 10 9, cubic feet)
14.2.2 Notwithstanding the fact that ECOPETROL has classified the Field as being commercial, when production at each Commercial Field (after deducting the royalty percentage) exceeds the limits of 14.2. 1, distribution among the Parties will use the R factor as set out hereunder.
14.2.2.1 lf liquid Hydrocarbons first reach the limit set out in numeral 14.2.1 hereof, the following table shall apply: R FACTOR PRODUCTION DISTRIBUTION AFTER ROYALTIES (%) ASSOCIATE ECOPETROL 0.0 - 1.0 50 50 1.0 - 2.0 50/R 100-50/R 2.0 or more 25 75 14.2.2.2 lf gaseous Hydrocarbons first reach the limit set out in numeral 14.2.1 hereof, the following table shall apply- R FACTOR PRODUCTION DISTRIBUTION AFTER ROYALTIES ASSOCIATE ECOPETROL 0.0 - 1.0 50 50 1.0 - 2.0 50/R 100-50/R 2.0 or more 25 75
14.2.3 The R factor is defined as the ratio between accrued income and accrued disbursements made by THE ASSOCIATE for each Commercial Field, as follows: IA R = ------------------- ID+A-B+GO Where: 1A (The Associates Accrued lncome)- is the valuation of income accrued by THE ASSOCIATE for hydrocarbons produced, after royalties, at the reference price agreed by the Parties, excluding hydrocarbons reinjected in Contract Area Fields, and those consumed in the operation and burnt gas. The parties shall jointly establish the average reference price for hydrocarbons. Accrued lncome will be based on the Monthly lncome which, in turn, will be obtained from multiplying the average monthly reference price by the monthly production in keeping with respective form issued by the Ministry of Mines & Energy.
A. Direct Exploration Costs incurred by THE ASSOCIATE according to Clause hereof and ▇▇▇▇▇▇ed as set out in the paragraph of 9.
B. Accrued reimbursement of the afore-mentioned Direct Exploration Costs, in keeping with Clause 9 hereof. GO (Accrued Operating Expenses)-. accrued operating expenses approved by the Association Executive Committee, in the proportion corresponding to the ASSOCIATE plus the latter's accrued transportation costs. Transportation cos...
Production, Distribution. 14.2.1 After deducting the percentages corresponding to royalties, the remaining produced Hydrocarbons from each Commercial Field, are owned by the Parties in the proportion of thirty percent (30%) for ECOPETROL and seventy percent (70%) for THE ASSOCIATE, until the Commercial Field's accrued production reaches sixty (60) million barrels of liquid Hydrocarbons or the amount of nine hundred (900) giga cubic feet of gaseous Hydrocarbons at standard conditions, whatever happens first (giga cubic feet of gas = 1 x 10 cubic feet). For Fields exploited under the sole risk method the production distribution after royalties is the Parties' property in a proportion of one hundred percent (100%) for THE ASSOCIATE and zero percent (0%) for ECOPETROL, up to the moment when the accrued production of the Field reaches either one of the aforementioned accrued production limits.
14.2.2 Independently from the classification of Commercial Field given by ECOPETROL regardless the limits stated on Item 14.2.1, production distribution
Production, Distribution. 14.2.1 After deducting the percentage that corresponds to royalties, the rest of the hydrocarbons produced from each Commercial Reservoir is the property of the Parties in a proportion of thirty per cent (30%) for ECOPETROL and seventy per cent (70%) for THE ASSOCIATE, until the time in which the audited accumulated production in the respective Commercial Reservoir reaches an amount of five (5) million barrels of standard condition liquid hydrocarbons or seventy-five (75) cubic giga feet of standard condition gaseous hydrocarbons, whatever occurs first. (1 cubic giga feet = 1x109 cubic feet). For Reservoirs exploited under the Sole Risk mechanism, the distribution of the production, after deducting the royalty percentage, is the property of the Parties in a proportion of (100%) for THE ASSOCIATE and zero per cent (0%) for ECOPETROL, until the audited accumulated production from the respective Reservoir first reaches either one of the aforementioned production limits.
Production, Distribution. 14.2.1 After deducting the royalty percentage, the remaining Hydrocarbons produced in each Commercial Field belong to the parties thus: Fifty percent (50%) for ECOPETROL and fifty percent (50%) for THE ASSOCIATE until cumulative production for each Commercial Field reaches 60 million barreis of liquid Hydrocarbons or 420 giga cubic feet of gaseous Hydrocarbons at standard conditions, whichever occurs first (1 cubic giga foot = 1 x 10 9, cubic feet)
14.2.2 Notwithstanding the fact that ECOPETROL has clssified the Field as being commercial, when production at each Commercial Field (after deducting the royalty percentage) exceeds the limits of 14.2. 1, distribution among the Parties will use the R factor as set out hereunder.
14.2.2.1 lf liquid Hydrocarbons first reach the limit set out in numeral 14.2.1 hereof, the following table shall apply:
Production, Distribution. 14.2.1 After deducting the percentages covering royalty, the remaining hydrocarbons produced in each Commercial Field is property of the Parties in the proportion of fifty per cent (50%) for ECOPETROL AND FIFTY PER CENT (50%) FOR THE ASSOCIATE until the accumulated production of each Commercial Field reaches 60 million barrels of liquid Hydrocarbons or the amount of 420 cubic gigafeet of gaseous hydrocarbons under normal conditions, whichever occurs first ( 1 cubic gigafeet = 1 x 10 9 cubic feet).
14.2.2 Regardless of the classification of the Commercial Field given by ECOPETROL in the definition of the commercial nature, exceeding the limits set forth in paragraph 14.2.1 , the production distribution of each Commercial Field ( upon deducting the percentage corresponding to the royalty) shall be property of the Parties in the proportion resulting from the application of the R factor, as follows:
14.2.2.1 If the Hydrocarbon reaching in the first place the limit set forth in paragraph 14.2.1 of this Clause was liquid Hydrocarbon, the following table will be applied: <PAGE> 36 No.30154/Err <TABLE> <CAPTION> R FACTOR PRODUCTION DISTRIBUTIONS AFTER ROYALTIES % ASSOCIATE ECOPETROL <S> <C> <C> 0.0 to 1.050 50 1.0 to 2.050/R 100-50/R 2.0 or more 25 75 </TABLE>
14.2.2.2 If the Hydrocarbon reaching in first place the limit stated in paragraph 14.2.1 of this Clause was the gaseous Hydrocarbon, the following table will be applied: <TABLE> <CAPTION> R FACTOR PRODUCTION DISTRIBUTIONS AFTER ROYALTIES % ASSOCIATE ECOPETROL <S> <C> <C> 0.0 to 2.050 50
Production, Distribution