Sharing Point Sample Clauses

Sharing Point. 17.2. The Oil and Gas Sharing Points shall be defined for each Module of the Development Phase in the Development Plan and shall coincide with the place where the Consortium shall physically provide the Production share corresponding to each Consortium Member or to whom it indicates.
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Sharing Point. The Sharing Points of Petroleum and Natural Gas will be defined in the design of each Module of the Stage of Development and will coincide with the location where the Consortium will physically provide the plot of Production corresponding to each Consortium Member or to whom he indicates Any difference in volume that might occur between the Measuring Point and the Sharing Point will be considered as operating loss of sole responsibility of the Contracted Party, without right to recovery in the Cost Oil. Monthly Bulletins The Consortium Members must submit to ANP a monthly bulletin of production of each field. The bulletin should be submitted until the 15th (fifteenth) day of each month following the month of the date of commencement of production of each field.
Sharing Point. The Oil and Natural Gas Sharing Points will be defined for each Module of the Development Stage in the Development Plan and will coincide with the place where the Consortium will physically make available the portion of the Production corresponding to each Consortium Member or to whom it indicates. The inspection of the measurement at the Sharing Points will be carried out by the ANP. Any difference in volume that may occur between the Measurement Point and the Sharing Point will be considered an operational loss under the sole responsibility of the Contracted Parties, not recoverable as an Oil Cost, except as provided in paragraph 17.8.

Related to Sharing Point

  • Allocation Following the Closing, Purchaser shall prepare and deliver to Sellers an allocation of the aggregate consideration among Sellers and, for any transactions contemplated by this Agreement that do not constitute an Agreed G Transaction pursuant to Section 6.16, Purchaser shall also prepare and deliver to the applicable Seller a proposed allocation of the Purchase Price and other consideration paid in exchange for the Purchased Assets, prepared in accordance with Section 1060, and if applicable, Section 338, of the Tax Code (the “Allocation”). The applicable Seller shall have thirty (30) days after the delivery of the Allocation to review and consent to the Allocation in writing, which consent shall not be unreasonably withheld, conditioned or delayed. If the applicable Seller consents to the Allocation, such Seller and Purchaser shall use such Allocation to prepare and file in a timely manner all appropriate Tax filings, including the preparation and filing of all applicable forms in accordance with applicable Law, including Forms 8594 and 8023, if applicable, with their respective Tax Returns for the taxable year that includes the Closing Date and shall take no position in any Tax Return that is inconsistent with such Allocation; provided, however, that nothing contained herein shall prevent the applicable Seller and Purchaser from settling any proposed deficiency or adjustment by any Governmental Authority based upon or arising out of such Allocation, and neither the applicable Seller nor Purchaser shall be required to litigate before any court, any proposed deficiency or adjustment by any Taxing Authority challenging such Allocation. If the applicable Seller does not consent to such Allocation, the applicable Seller shall notify Purchaser in writing of such disagreement within such thirty (30) day period, and thereafter, the applicable Seller shall attempt in good faith to promptly resolve any such disagreement. If the Parties cannot resolve a disagreement under this Section 3.3, such disagreement shall be resolved by an independent accounting firm chosen by Purchaser and reasonably acceptable to the applicable Seller, and such resolution shall be final and binding on the Parties. The fees and expenses of such accounting firm shall be borne equally by Purchaser, on the one hand, and the applicable Seller, on the other hand. The applicable Seller shall provide Purchaser, and Purchaser shall provide the applicable Seller, with a copy of any information described above required to be furnished to any Taxing Authority in connection with the transactions contemplated herein.

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  • Cost Allocation Cost allocation of Generator Interconnection Related Upgrades shall be in accordance with Schedule 11 of Section II of the Tariff.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

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