Production Increase Sample Clauses

Production Increase. (i) If the Plant exceeds a production capacity of 3,000 barrels per day at the Commercial Operations Date as determined by the ▇▇▇▇▇▇▇▇ Production Report, then the Seller shall be entitled to an increase in the Purchase Price by ONE HUNDRED AND FIFTY THOUSAND US DOLLARS ($150,000.00) for each barrel per day the Plant exceeds a production capacity of 3,000 barrels per day, up to 3,500 barrels per day (or a maximum increase of $75,000,000.00) (such amount, if any, the “Production Increase”). (ii) The amount of any Production Increase shall be based upon the ▇▇▇▇▇▇▇▇ Production Report and shall be rounded down to the nearest whole barrel. Within five Business Days (5) days after the Commercial Operations Date, Buyer shall request that ▇▇▇▇▇▇▇▇ Engineers prepare a written analysis of the production capacity of the Plant for purposes of determining any Production Increase (the “▇▇▇▇▇▇▇▇ Production Report”). (iii) After receipt of the ▇▇▇▇▇▇▇▇ Production Report, Seller and Buyer shall have a Review Period of five (5) Business Days. During the Review Period, Seller and Buyer shall mutually cooperate in good faith to determine if any adjustments to ▇▇▇▇▇▇▇▇ Production Report are necessary to accurately reflect any revisions to the Plant’s production capacity as provided in the ▇▇▇▇▇▇▇▇ Production Report. In the event that the Parties determine that an adjustment is necessary, the Parties shall request that ▇▇▇▇▇▇▇▇ Engineers make a revision to the report and any necessary recalculation of the Plant’s production capacity. (iv) Any payment of the Production Increase shall be paid, at Buyer’s option, in cash or shares of Viking Preferred Stock, or a combination of both. Any payment in shares of Viking Preferred Stock shall be paid within thirty (30) days from the final ▇▇▇▇▇▇▇▇ Production Report and any payment in cash shall be due within one hundred and twenty (120) days from the final ▇▇▇▇▇▇▇▇ Production Report, provided, however, that the Buyer shall be entitled to offset and deduct from the Production Increase any amount owed by Seller to Buyer pursuant to Section 2.03 or Article VIII of the MIPA. (v) Any payments made pursuant to Section 2.03(b) shall be treated as an adjustment to the Purchase Price by the Parties for Tax purposes, unless otherwise required by Law.
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Production Increase. If Alon USA’s and its Consolidated Subsidiaries’ (other than Paramount and its Subsidiaries) average throughput capacity to process crude oil and blendstocks has permanently increased from the then current Base Production Level by at least 2,500 barrels per day (a “Production Increase”), the then current Facility Sublimit amount may be permanently increased (subject to Section 2.13(c) below) in increments of $10,000,000 (to an amount not to exceed the Total Commitment), with respect to each such Production Increase. The amount of the Facility Sublimit will permanently increase with effect from the first Business Day after the date of delivery by the Administrative Borrower to the Agent of a Notice of Facility Sublimit Increase (in accordance with and subject to Section 2.13(c) below). No more than one Notice of Facility Sublimit Increase may be delivered on any day.
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Related to Production Increase

  • Promotion Increases (a) Promotion salary increases shall be granted in an amount equal to 9.0% of the employee’s previous year’s base salary rate in recognition of promotion to one of the ranks described below: (1). To Associate in , and Assistant University Librarian; (2). To Associate Professor, Associate Scholar/Scientist/Engineer, and Associate University Librarian; and

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will: (1) agree on the amount of the increase; (2) agree on any terms and conditions that will apply to the increase; and (3) execute an amendment to this Agreement that reflects the agreement reached.

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range: i) all continuous service shall be retained and transferred with the employee if she/he changes her/his status from full-time to part- time and vice versa. ii) a part-time employee who changes status to full-time will be given credit on the basis of fifteen hundred (1500) paid hours of part- time being equivalent to one (1) year of full-time service and vice versa. iii) in addition, an employee who is so transferred will be given credit for paid hours accumulated since the date of last advancement. (b) Annual increments for full-time employees shall be paid on their anniversary date. (c) Annual increments for part-time employees shall be paid on the completion of each fifteen hundred (1500) hours worked.

  • Wage Increase 1. The minimum hourly wage amounts in the salary table in column I (job grades 1 up to and includ- ing 3) concern the statutory minimum wage and are adjusted in the event of an increase in the statutory minimum wage. 2. Each calendar year, in principle before 1 July, the CLA parties shall conduct talks on the adjust- ment of the (other) amounts shown in the salary table (column I, job grades 4 up to and including 6, column II and III) in article 28(2) of the CLA from 1 July of that year. 3. If an adjustment of the salary table (column I, job grades 4 up to and including 6, columns II and III) is agreed pursuant to paragraph 2 of this article, this will be applied as follows: a. The salary table (column I, job grades 4 up to and including 6, columns II and III) will be increased by the agreed percentage and b. the actual wage of the temporary agency worker will be increased by the agreed percentage from the agreed date.

  • Wage Increases The wage rates in this Agreement will only be increased in accordance with any increases which may be awarded by the Australian Fair Pay Commission through wage reviews. The level of any increases will be such that the percentage wage increase as set out in Clause 15 of this agreement will be maintained. No additional increases in wage rates will apply to the rate of pay in Clause 15 of this Agreement while it is in operation.