Statements and Billings. 1.5.1 Unless otherwise agreed by the Parties or pursuant to Turnkey contracts, Operator shall submit monthly to each Party, on or before the 25th Day of each month, statements of the costs and expenditures incurred during the prior month, indicating by appropriate classification the nature thereof, the corresponding budget category, and the portion of such costs charged to each of the Parties. These statements, as a minimum, shall contain the following information: - advances of funds setting forth the currencies received from each Party - the share of each Party in total expenditures - the current account balance of each Party - summary of costs, credits, and expenditures on a current month, year-to-date, and inception-to-date basis or other periodic basis, as agreed by Parties - details of unusual charges and credits in excess of U.S. dollars five thousand (U.S.$5,000.00).
1.5.2 Operator shall, upon request, furnish a description of the accounting classifications used by it.
1.5.3 Amounts included in the statements and billings shall be expressed in U.S. currency and reconciled to the currencies advanced.
1.5.4 Each Party shall be responsible for preparing its own accounting and tax reports to meet the requirements of the Country of Operations and of all other countries to which it may be subject. Without limiting the foregoing, each Party acknowledges that it will keep its records and accounts in accordance with Turkish Accounting Procedures and Fiscal Procedure Law as published in the Turkish Official Gazette on 10.01.
Statements and Billings. (A) Unless otherwise agreed by the Parties, Operator must submit Monthly to each Party, on or before the twenty-fifth (25th) Day of each Month, statements of the costs and expenditures incurred during the prior Month, indicating by appropriate classification the nature thereof, the corresponding budget category, and the portion of such costs charged to each of the Parties. These statements will, at a minimum, contain the following information:
(1) Advances of funds setting forth the currencies received from each Party;
(2) The share of each Party in total expenditures;
(3) The accrued expenditures (upon request of Non-Operator, any related documentation shall be provided);
(4) The current account balance of each Party;
(5) Summary of costs, credits, and expenditures on a current Month and Year-to-date basis or other periodic basis, as agreed by the Parties (such expenditures will be grouped by the categories and line items designated in the approved annual Work Program and Budget or multiyear project budget in accordance with Clause 3 of the Association Contract so as to facilitate comparison of actual expenditures against that Work Program and Budget or multiyear project budget);
(6) Details of unusual charges and credits in excess of $250,000 USD (however, the Non-operator may request details of unusual charges and credits below $250,000);
(B) Operator will, upon request, furnish a description of the accounting classifications used by it.
(C) Amounts included in the statements will be expressed in US Dollars and in Moroccan Dirhams and billings will be expressed in US Dollars and reconciled to the currencies indicated.
(D) Each Party will be responsible for preparing its own accounting and tax reports to meet the requirements of the Country of Operations and of all other jurisdictions to which it may be subject. Operator, to the extent that the information is reasonably available from the Joint Account records, must provide Non-Operators in a timely manner with the necessary information to facilitate the discharge of such responsibility.
Statements and Billings. 1.5.1 Unless otherwise agreed by the Parties, Operator shall submit monthly to each Party, on or before the 15th Day of each month, statements of the costs and expenditures incurred during the prior month, indicating by appropriate classification the nature thereof, the corresponding budget category, and the portion of such costs charged to each of the Parties. These statements, as a minimum, shall contain the following information: · advances of funds setting forth the currencies received from each Party, · the share of each Party in total expenditures, · the accrued expenditures, · the current account balance of each Party, · summary of costs, credits, and expenditures on a current month, year-to-date, and inception-to-date basis or other periodic basis, as agreed by Parties (such expenditures shall be grouped by the categories and line items designated in the approved Work Program and Budget submitted by Operator in accordance with Article 6.4 of the Agreement so as to facilitate comparison of actual expenditures against that work Program and Budget), and · details of unusual charges and credits in excess of U.S. dollars U.S. $500,000.
1.5.2 Operator shall, upon request, furnish a description of the accounting classifications used by it.
1.5.3 Amounts included in the statements and billings shall be expressed in U.S. currency and reconciled to the currencies advanced.
1.5.4 Each Party shall be responsible for preparing its own accounting and tax reports to meet the requirements of the Country of Operations and of all other countries to which it may be subject. Operator, to the extent that the information is reasonably available from the Joint Account records, shall provide Non-Operators in a timely manner with the necessary information to facilitate the discharge of such responsibility.
Statements and Billings. The Operator shall prepare statements and bill the Partixxxxxxx as provided in Section 16.2 of the Agreement. Xxyment of any such billings by any Participant, including the Operator, shall not prejxxxxx xxch Participant's right to protest or question the correctness thereof for a period not to exceed 24 months following the calendar year during which such billings are received by the Participant. All written exceptions xx xxx claims upon the Operator for incorrect charges, billings or statements shall be made upon the Operator within such 20 xxxxx period.
Statements and Billings. Operator shall bill Non-Operators on or before the last day of each month for their proportionate share of costs and expenses for the preceding month. Such bills will be accompanied by statements reflecting the total charges and credits as set forth under the subparagraph selected below:
Statements and Billings. 2.01 The Operator shall, by invoice, charge each Xxxxxxipant with its Proportionate Share of Exploration Costs and Mine Costs in the manner provided in sections 7 and 15 of the Agreement respectively.
2.02 The Operator shall deliver, with each invoice rendered for Costs incurred a statement indicating:
(a) all charges or credits to the Joint Account relating to Controllable Material ; and
(b) all other charges and credits to the Joint Account summarised by appropriate classification indicative of the nature of the charges and credits.
2.03 The Operator shall deliver with each invoice for an advance of Costs a statement indicating:
(a) the estimated Exploration Costs or, in the case of Mine Costs the estimated cash disbursements, to be made during the next succeeding month;
(b) the addition thereto or subtraction therefrom, as the case may be, made in respect of Exploration Costs or Mine Costs actually having been incurred in an amount greater or lesser than the advance which was made by each Participant for the penultimate month preceding the month of the invoice; and
(c) the advances made by each Participant to date and the Exploration Costs or Mine Costs incurred to the end of the penultimate month preceding the month of the invoice.
Statements and Billings. Operator shall bill Non-Xxxxxxxrs on or before txx xast day of each month for their proportionate share of the Joint Account for the preceding month. Such bills will be accompanied by statements which identify the authority for expenditure, lease or facility, and all charges and credits, summarized by appropriate classifications of investment and expense except that items of Controllable Material and unusual charges and credits shall be separately identified and fully described in detail.
Statements and Billings. 1.5.1 Unless otherwise agreed by the Parties, Operator shall issue quarterly to each Party, on or before the last Day of each quarter, statements of the costs and expenditures incurredduring the prior quarterly period, indicating by appropriate classification the nature thereof, the corresponding budget category AFE and the portion of such costs charged to each of the Parties. These statements, as a minimum, shall contain the following information: · Advances or Distribution of profits or funds received from each Party, · the share of each Party in total expenditures, · the accrued expenditures, · the current account balance of each Party, · summary of costs, credits and expenditures on a current quarterly, year-to-date basis, and · details of unusual charges and costs in excess of US$200,000.
1.5.2 Operator shall, upon request, furnish a description of the accounting classifications used by it.
1.5.3 Amounts included in the statements and billings shall be expressed in US currency or Cedi currency.
1.5.4 Each Party shall be responsible for preparing its own accounting and tax reports to meet the requirements of Ghana and of all other countries to which it may be subject. Operator, to the extent that the information is reasonably available from the Project Account records, shall provide Parties in a timely manner with the necessary statements to facilitate the discharge of such of such responsibility.
Statements and Billings. Operator may submit a bill, statement or otherwise pxxxxxx xn accounting to Partnersxxx on the first day of each month for the estimated costs and expenses for the month and any adjustment which may be necessary to correct prior estimated billings to actual. Such bills, statements or accountings will xx xxxxarized by appropriate classifications indicative of the nature thereof.
Statements and Billings. 1.5.1 Unless otherwise agreed by the Parties, Operator shall issue monthly to each Party, on or before the last Day of each month, statements of the costs and expenditures incurred 66 during the prior month, indicating by appropriate classification the nature thereof, the corresponding budget category AFE and the portion of such costs charged to each of the Parties. These statements, as a minimum, shall contain the following information: · Advances of funds received from each Party; · the share of each Party in total expenditures; · the accrued expenditures · the current account balance of each Party; and · summary of costs, credits and expenditures on a current month, year-to-date and inception-to-date basis; · details of unusual charges and costs in excess of US$500,000.
1.5.2 Operator shall, upon request, furnish a description of the accounting classifications used by it.
1.5.3 Amounts included in the statements and billings shall be expressed in US currency.
1.5.4 Each Party shall be responsible for preparing its own accounting and tax reports to meet the requirements of Ghana and of all other countries to which it may be subject. Operator, to the extent that the information is reasonably available from the Joint Account records, shall provide Parties in a timely manner with the necessary statements to facilitate the discharge of such of such responsibility.
