Common use of Remuneration Fee Clause in Contracts

Remuneration Fee. Contractor shall become entitled to the Remuneration Fee and shall start charging the same to the Operating Account only after the Service Fees Eligibility Date. (a) For each Calendar Quarter, commencing with the Calendar Quarter following the Quarter in which the Service Fees Eligibility Date occurs, the Remuneration Fee shall be an amount equal to the product of the Remuneration Fee per Barrel applicable to such Quarter, multiplied by the Incremental Production applicable to such Quarter and subject to the performance adjustment in Article 19.5(e). (b) The Remuneration Fee per Barrel of Crude Oil applicable for all Calendar Quarters during any given Calendar Year shall be determined on the basis of the R-Factor calculated at the end of the preceding Calendar Year for the Field as follows:

Remuneration Fee. Contractor shall become entitled to the Remuneration Fee and shall start charging the same to the Operating Account only after the Service Fees Fee Eligibility Date. (a) For each Calendar Quarter, commencing with the Calendar Quarter following the Quarter in which the Service Fees Fee Eligibility Date occurs, the Remuneration Fee shall be an amount equal to the product of the Remuneration Fee per Barrel applicable to such Quarter, multiplied by the Incremental Production applicable to such Quarter and subject to the performance adjustment in Article 19.5(e). (b) The Remuneration Fee per Barrel of Crude Oil applicable for all Calendar Quarters during any given Calendar Year shall be determined on the basis of the R-Factor calculated at the end of the preceding Calendar Year for the Field as follows: