Use of Equipment and Facilities Owned by Entities Constituting Contractor. For the use of any equipment or facilities that are wholly owned by entities constituting Contractor, the Operating Account shall be charged a rental commensurate with the cost of ownership. The rental rates, which will not include any profit element, will be approved by the JMC each Calendar Year. Such rates should be in line with those currently prevailing in the area where Petroleum Operations are located for equipment and facilities comparable in terms of availability, safety, efficiency and quality.
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Samples: Sales Agreement, Sales Agreement, Sales Agreement
Use of Equipment and Facilities Owned by Entities Constituting Contractor. For the use of any equipment or facilities that are wholly owned by entities constituting Contractor, the Operating Account shall be charged a rental commensurate with the cost of ownership. The rental rates, which will not include any profit element, will be approved by the JMC or BOD each Calendar Year. Such rates should be in line with those currently prevailing in the area where Petroleum Operations are located for equipment and facilities comparable in terms of availability, safety, efficiency and quality.
Appears in 3 contracts
Samples: Development and Production Service Contract, Development and Production Service Contract, Development and Production Service Contract
Use of Equipment and Facilities Owned by Entities Constituting Contractor. For the use of any equipment or facilities that are wholly owned by entities constituting Contractor, the Operating Account shall be charged a rental commensurate with the cost of ownership. The rental rates, which will not include any profit element, will be approved by the JMC each Calendar Year. Such rates should be in line with those currently prevailing in the area where Petroleum Operations are located for equipment and facilities comparable in terms of availability, safety, efficiency and quality.. (End of Article 4)
Appears in 2 contracts
Samples: Technical Service Contract for Field, Technical Service Contract
Use of Equipment and Facilities Owned by Entities Constituting Contractor. For the use of any equipment or facilities that are wholly owned by entities constituting Contractor's entities, the Operating Account shall be charged a rental commensurate with the cost of ownership. The rental rates, which will not include any profit element, will be approved by the JMC each Calendar Year. Such rates should be in line with those currently prevailing in the area where Petroleum Operations are located for equipment and facilities comparable in terms of availability, safety, efficiency and quality.. (End of Article 4)
Appears in 2 contracts
Samples: Technical Service Contract, Technical Service Contract
Use of Equipment and Facilities Owned by Entities Constituting Contractor. For the use of any equipment or facilities that are wholly owned by entities constituting Contractor, the Operating Account shall be charged a rental commensurate with the cost of ownership. The rental rates, which will not include any profit element, will be approved by the JMC or BOD each Calendar Year. Such rates should be in line with those currently prevailing in the area where Petroleum Operations are located for equipment and facilities comparable in terms of availability, safety, efficiency and quality.. (End of Article 4)
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