The Economic Costs and Benefits to the State Sample Clauses

The Economic Costs and Benefits to the State. Approval of the Agreement in combination with the Initial XXX will result in both short-term and long- term economic benefits to the State. The assessment of the hydrocarbon potential of the leases will create jobs in the short-term. If the working interest owners make a commercial discovery, the state will earn royalty and tax revenues over the long-term life of the field. The primary term of one lease in the proposed unit area will expire July 31, 2001, unless extended by unitization. If the lease expires, the leasehold interest will return to the state. The earliest that DNR could reoffer the land, under the current Five-Year Oil and Gas Lease Sale Schedule, is November 2002. If DNR leased the expired lands in 2002, the state could receive bonus payments and rentals for the primary term of the new leases. However, it could be years before the new lessees would propose exploration of the area and even longer before the state receives royalties and taxes on any commercial production. As discussed above, the Initial XXX identifies two separate areas in the Kuparuk formation within the unit area (Block “A” and Block “B”). This Initial XXX includes a commitment to drill and test Sakonowyak River Block “A” leases by May 1, 2003. If the commitment to drill this well is not made in writing by May 1, 2002, the unit will automatically terminate, and ADL 377051 will be surrendered. If after electing to drill the Sak River #1 well by a spud date of May 1, 2003, the commitment is not fulfilled, the unit will terminate, ADL 377051 will be surrendered, and a charge of $15,000 will be paid to the state for lost bonus bid potential. The Initial XXX also proposes the drilling of a second exploratory well (Sak River #2) in Block “B” leases by May 1, 2004. If after committing to drill the first Sakonowyak River Unit well, the working interest owners fail to drill the well to completion by May 1, 2003, the entire unit acreage will then be available for reoffer in the North Slope 2003 Areawide Lease Sale, however, the state will have lost the opportunity to receive bonus bids on the acreage in the previous sale (NS 2002). Therefore, the Initial XXX imposes a $15,000 charge if the working interest owners fail to drill the Sakonowyak River Unit #1 well after committing to do so. The working interest owners agreed to compensate the state for extending the lease terms through unitization and foregoing the bonus bids and interest the state could have earned if the acreage was off...
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Related to The Economic Costs and Benefits to the State

  • Recoupment of Wage and Benefit Overpayments (a) In the event that an employee receives wages or benefits from the Agency to which the employee is not entitled, regardless of whether the employee knew or should have known of the overpayment, the Agency shall notify the employee in writing of the overpayment which will include information supporting that an overpayment exists and the amount of wages and/or benefits to be repaid.

  • Covered Benefits and Services The Contractor shall provide to its Hoosier Healthwise members, at a minimum, all benefits and services deemed “medically reasonable and necessary” and covered by the IHCP, and included in the Indiana Administrative Code and under the Contract with the State. A covered service is considered medically necessary if it meets the definition as set forth in 405 IAC 5-2-17. The Contractor shall deliver covered services sufficient in amount, duration or scope to reasonably expect that provision of such services would achieve the purpose of the furnished services. Costs for these services are the basis of the Contractor’s capitation rate and are, therefore, the responsibility of the Contractor. Coverage may not be arbitrarily denied or reduced and is subject to certain limitations in accordance with CFR 438.210(a)(4), which specifies when Contractors may place appropriate limits on services:  On the basis of criteria applied under the State plan, such as medical necessity; or  For the purpose of utilization control, provided the services furnished are sufficient in amount, duration or scope to reasonably be expected to achieve the purpose for which the services are furnished.

  • Workplace Safety Insurance Benefits (WSIB) Top Up Benefits If the employee is in a class of employees that, on August 31, 2012, was entitled to use unused sick leave credits for the purpose of topping up benefits received under the Workplace Safety and Insurance Act, 1997;

  • Synopsis and Benefit to Xxxxxxx County The Agreement continues the contractual relationship between the Oregon State Marine Board and Xxxxxxx County through its Sheriff’s Office. The Sheriff’s Office will be reimbursed for marine law enforcement patrols, boater education, and boat inspections conducted throughout Xxxxxxx County.

  • Compensation and Benefits As compensation for all services performed by the Executive under and during the term hereof and subject to performance of the Executive’s duties and of the obligations of the Executive to the Company and its Affiliates, pursuant to this Agreement or otherwise:

  • Insurance and Benefits Company shall allow Executive to participate in each employee benefit plan and to receive each executive benefit that Company provides for senior executives at the level of Executive's position.

  • Program Benefits Under the Probation Status, the Participating Contractor will be eligible for all contractor incentives, its customers will have access to financing offered through the Program, and income- eligible households will be eligible to receive Program incentives.

  • BENEFITS AND DEDUCTIONS If the Provider is an individual, the Provider understands and agrees that he/she is an independent contractor for whom no Federal or State Income Tax will be deducted by the Department, and for whom no retirement benefits, survivor benefit insurance, group life insurance, vacation and sick leave, and similar benefits available to State employees will accrue. The Provider further understands that annual information returns, as required by the Internal Revenue Code or State of Maine Income Tax Law, will be filed by the State Controller with the Internal Revenue Service and the State of Maine Bureau of Revenue Services, copies of which will be furnished to the Provider for his/her Income Tax records.

  • PAY, HOURS AND BENEFITS III.A. WAGES

  • Coordination of Benefits and Subrogation IPA and HMO shall establish and implement a system for coordination of benefits and subrogation, in accordance with those rules established under the HMO's policies and procedures and applicable federal and state laws. If known to IPA, IPA shall identify and inform HMO of Members for whom coordination of benefits and subrogation opportunities exist. HMO hereby authorizes IPA to seek payment, on a fee-for service basis or otherwise, from any insurance carrier, organization, or government agency which is primarily responsible for the payment or provision of medical services provided by IPA under this Agreement which can be recovered by reason of coordination of benefits, motor vehicle injury, worker's compensation, temporary disability, occupational disease, or similar exclusionary or limiting provisions, to the extent authorized by the applicable and not otherwise prohibited by law.

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