VALUATION OF CRUDE OIL. 7.4.1 It is the intent of the Parties that the value of the Cost Oil (and the CONTRACTOR’S (for and on its own behalf and on behalf of Range Resources) Production Sharing Oil for the purpose of PUNTLAND Income Taxes as provided in Article 9.1.2 below) shall reflect the prevailing market price for Crude Oil. For the purpose of evaluating the prevailing market value of the quantity of Cost Oil to which the CONTRACTOR (for and on its own behalf and on behalf of Range Resources) is entitled hereunder during each Calendar Quarter, the weighted average price realized in freely convertible currency, from
Appears in 2 contracts
Samples: Production Sharing Agreement, Production Sharing Agreement
