Project Payout Sample Clauses

Project Payout. Project Payout" shall be defined as that point in time when the proceeds from the sale of production attributable to McMoRan's interest farmed in from Texaco in all successful xxxxx drilled by McMoRan on a Prospect [exclusive of a) royalties which are to be paid or delivered to Lessor under the terms of the applicable leases, b) Texaco's overriding royalty, c) any other burdens of record covering the Contract Acreage existing prior to the Effective Date of this Agreement d) transportation charges allowed under the terms of the applicable Lease(s), e) Third Party and/or Texaco processing, handling and transportation fees, and f) any production taxes], equal the sum of the total actual cost incurred by McMoRan attributable to McMoRan's interest farmed in from Texaco in the drilling, testing, completing, equipping and workover of all successful xxxxx through the installation of the wellhead equipment, including any caissons and/or other type of well protectors, any flowlines or pipelines installed, production equipment exclusively purchased for said xxxxx and/or a platform with production facilities installed to service such xxxxx and production, and the monthly operating cost allocated to the xxxxx. The determination of all Project Payout costs shall be made in accordance with the Accounting Procedure attached to the applicable Farmout Agreement or Sublease. Project Payout shall not include any costs or expenses associated in any way with any unsuccessful well(s) drilled or unsuccessful operations conducted in any well located on the Contract Acreage operated by McMoRan or in which McMoRan has an interest.
Sample 1
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Project Payout. The Cumulative Project Costs shall be considered as a debit dollar amount in the Balance Account and the Cumulative Project Proceeds shall be considered as a credit dollar amount in the Balance Account. Notwithstanding provisions contained within any individual Participation Agreement which define payout on a well-by-well basis, the term "Project Payout" shall mean the point in time when Nacogdoches Gas shall have recouped the Cumulative Project Costs from the Cumulative Project Proceeds (i.e. The net balance in the Balance Account reaches zero dollars).
Sample 1

Related to Project Payout

  • Project Completion Within five (5) days after the delivery by Supplier to Purchaser of a Commissioning Certificate for the Project’s final Turbine, Supplier shall also deliver to Purchaser a completion certificate for all Turbines in the Project (the “Project Completion Certificate”), in the form attached hereto as Exhibit N, together with a list of any remaining Punch List Work on any Turbine, a schedule for completing the Punch List Work and an estimate of the cost of each item of Punch List Work. Supplier shall thereafter promptly complete all Punch List Work.

  • Project The Land and all improvements thereon, including the Building, the Parking Facilities, and all Common Areas.

  • Post-Closing Operations After the Closing, ACQUIRED COMPANY will be a wholly-owned subsidiary of the Company subject to the terms and conditions outlined in this Agreement. ACQUIRED COMPANY shall be responsible to report to the Company all financial matters and newsworthy events as they materialize, as Seller recognizes Company is a publicly traded company and has certain material obligations of disclosure pursuant to state and federal laws, statutes and regulations.

  • Projects 3.3.1 Exult Supplier shall perform the impact analysis as described in Section 4.

  • Construction Budget Administrative Agent shall have received each of the Construction Budget in form and substance reasonably satisfactory to Administrative Agent (in consultation with the Independent Engineer).

  • Project Costs The Project costs are true and accurate estimates of the costs necessary to complete the Improvements in a good and workmanlike manner according to the Plans and Specifications presented by Borrower to Lender, and Borrower shall take all steps necessary to prevent the actual cost of the Improvements from exceeding the Project costs.

  • Project Budget The budget approved by Member Consent for the acquisition, construction, development, marketing and financing of the Project. The initial Project Budget is attached hereto as Exhibit G.

  • Construction Contract; Cost Budget Prior to execution of a construction contract, Tenant shal] submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the genera] conditions with Contractor (the “Contract”) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant’s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Construction Budget”), which costs shall include, but not be limited to, the costs of the Architect’s and Engineers’ fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the “Over Allowance Amount”. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over- Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (1), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord’s property under the terms of the Lease. 4.2.2

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Production Work Except as agreed to in writing by the Parties pursuant to the "Production Work" section of the Standard Online Commerce Terms & Conditions attached hereto as Exhibit F, MP will be responsible for all production work associated with the Affiliated MP Site, including all related costs and expenses.

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