Windfall Profits. When the value of crude oil for any calendar quarter calculated in accordance with Clause 26 of the PSC exceeds United States US$ 50 per barrel FOB Mombasa (hereinafter referred to as the (“Threshold Price”) adjusted for the United States of America’s Consumer Price Index (CPI) whose Effective Date will be from the date of the contract execution then a Second Tier Amount is payable by the Contractor to the Government. Production Sharing Contract Block L16 Ministry of Energy Page 37 The Second Tier Amount will be calculated in respect of each Calendar Quarter according to the following formula: R = CSPO x 26% x (V – Threshold Price) Where;
Windfall Profits. When the value of crude oil for any calendar quarter calculated in accordance with Clause 26 of the PSC exceeds United States US$ 50 per barrel FOB Mombasa (hereinafter referred to as the (“Threshold Price”) adjusted for the United States of America’s Consumer Price Index (CPI) whose Effective Date will be from the date of the contract execution then a Second Tier Amount is payable by the Contractor to the Government. The Second Tier Amount will be calculated in respect of each Calendar Quarter according to the following formula: R = CSPO x 26% x (V – Threshold Price) Where; R is the Second Tier Amount in US Dollars; V is the value of Crude Oil in U.S. dollars for that Calendar Quarter calculated in accordance with Clause 26 and expressed in US$/bbl, provided that V exceeds the Threshold Price; and CSPO is the Contractor Share of Profit Oil for that Calendar Quarter in bbl calculated pursuant to clause 27(3) (a).
Windfall Profits. When the value of Crude Oil for any calendar quarter calculated in accordance with clause 26 exceeds US$ 50 per bbl FOB Mombasa(hereinafter referred to as the “Threshold Price”) then a Second Tier Amount is payable by the Contractor to the Government. The Second Tier Amount will be calculated in respect of each calendar quarter according to the following formula: R = CSPO x 26% x (V – Threshold Price) Where; R is the Second Tier Amount in US Dollars; V is the value of crude oil in U.S. dollars for that calendar quarter calculated in accordance with Clause 26 and expressed in US$/bbl, provided that V exceeds the Threshold Price; and CSPO is the Contractor Share of Profit Oil for that calendar quarter in bbl calculated pursuant to clause 27 (3) (a).
Windfall Profits. Buyer represents and warrants to Seller that none of its prospective principals or employees, during the course of their employment with Consulting, were promised or obtained any significant engagement, as defined below, for the provision of consulting services for periods after September 30, 2001, other than in the ordinary course of business. In consideration of Seller relying upon such representation and warranty, Buyer agrees to pay five percent (5%) of the value of any consulting engagements (not including reimbursable expenses) entered into, provided or billed during the period from October 1, 2001 to December 31, 2001 (a) having gross billings per client (including its affiliates) in excess of $1.0 xxxxion, or (b) any aggregation of engagements having gross billings from all clients in excess of $2.5 million, whichever is xxxxxx. Seller shall have no rights under this Section 15 to any revenues derived from new engagements on or after December 31, 2001.
