Common use of Prospective Application Clause in Contracts

Prospective Application. The State’s AOE measured in barrels of Crude Oil will be as follows: i) If FAn, SAn, TAn, YAn and ZAn are all negative, the State’s AOE for the Quarter in question shall be zero; ii) If FAn is positive and SAn, TAn, YAn and ZAn are all negative, the State’s AOE for the Quarter in question shall be equal to the absolute amount resulting from the following monetary calculation: Five percent (5%) of the FAn for that Quarter divided by the weighted average Market Price of Crude Oil as determined in accordance with Article 11.7. iii) If both FAn and SAn are positive, but TAn YAn and ZAn are negative, the State’s AOE for the Quarter in question shall be equal to an absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of FAn for that Quarter plus ten percent (10%) of the SAn for that Month all divided by the weighted average Market Price of Crude Oil as determined in accordance with Article 11.7. iv) If FAn, SAn, and TAn are all positive but both YAn and ZAn are negative, the State’s AOE for the Quarter in question shall be equal to the absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of the FAn for that Quarter plus ten percent (10%) of the SAn for that Quarter plus fifteen percent (15%) of the TAn for that Quarter all divided by the weighted average Market Price of Crude Oil as determined in accordance with Article 11.7. v) If FAn, SAn TAn and YAn are all positive but ZAn is negative, the State’s AOE for the Quarter in question shall be equal to the absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of the FAn for that Quarter plus ten percent (10%) of the SAn for that Quarter plus fifteen percent (15%) of the TAn for that Quarter plus twenty percent (20%) of the YAn for that Quarter all divided by the weighted average Market Price of Crude Oil as determined in accordance with Article 11.7. vi) If FAn, SAn, TAn YAn and ZAn are all positive, the State’s AOE for the Quarter in question shall be equal to the absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of the FAn for that Quarter plus ten percent (10%) of the SAn for that Quarter plus fifteen percent (15%) of the TAn for that Quarter plus twenty percent (20%) of the YAn for that Quarter plus twenty five percent (25%) of the ZAn for that Quarter all divided by the weighted average Market Price as determined in accordance with Article 11.7.

Prospective Application. The State’s AOE measured in barrels Barrels of Crude Oil will be as follows: i) If FAn, SAn, TAn, YAn and ZAn YAn, are all negative, the State’s AOE for the Quarter Month in question shall be zero; ii) If FAn is positive and SAn, TAn, YAn and ZAn YAn, are all negative, the State’s AOE for the Quarter Month in question shall be equal to the absolute amount resulting from the following monetary calculation: Five Ten percent (510%) of the FAn for that Quarter Month divided by the weighted average Market Price of Crude Oil as determined in accordance with Article 11.7. iii) If both FAn and SAn are positive, but TAn TAn, and YAn and ZAn are negative, the State’s AOE for the Quarter Month in question shall be equal to an the absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of FAn for that Quarter plus ten percent (10%) of the FAn for that Month plus fifteen percent (15%) of SAn for that Month all divided by the weighted average Market Price of Crude Oil Price, as determined in accordance with Article 11.7. iv) If FAn, SAn, and TAn are all positive but both YAn and ZAn are is negative, the State’s AOE for the Quarter Month in question shall be equal to the absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of the FAn for that Quarter plus ten percent (10%) of the SAn FAn for that Quarter Month plus fifteen percent (15%) of the SAn for that Month plus twenty percent (20%) of TAn for that Quarter Month all divided by the weighted average Market Price of Crude Oil Price, as determined in accordance with Article 11.7. v) If FAn, SAn TAn SAn, TAn, and YAn are all positive but ZAn is negative, the State’s AOE for the Quarter Month in question shall be equal to the absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of the FAn for that Quarter plus ten percent (10%) of the SAn FAn for that Quarter Month plus fifteen percent (15%) of the TAn SAn for that Quarter Month plus twenty percent (20%) of the YAn for that Quarter all divided by the weighted average Market Price of Crude Oil as determined in accordance with Article 11.7. vi) If FAn, SAn, TAn YAn and ZAn are all positive, the State’s AOE for the Quarter in question shall be equal to the absolute amount resulting from the following monetary calculation: the aggregate of five percent (5%) of the FAn for that Quarter plus ten percent (10%) of the SAn for that Quarter plus fifteen percent (15%) of the TAn for that Quarter plus twenty percent (20%) of the YAn for that Quarter Month plus twenty five percent (25%) of the ZAn YAn for that Quarter Month all divided by the weighted average Market Price Price, as determined in accordance with Article 11.7.