Examples of Accounting Procedure in a sentence
If one (1) of the Parties is of the opinion that a change in the Accounting Procedure is desirable to rectify an inequity, or for other reasons, it may forward a proposal for amendment of the Accounting Procedure to the Operator who will arrange for the matter to be discussed at an Operating Committee meeting, or at a meeting of an appropriate sub- committee.
The Accounting Procedure may be amended with the agreement of all the Parties, subject to the approval of the Danish Energy Agency.
It is the intent that the monetary limits set forth in various sections of the Accounting Procedure shall be reviewed and adjusted from time to time by agreement of all the Parties in order to be in accordance with changes in prices and operating conditions.
In the event that one (1) or more of the Parties engages in sole risk operations, then, to the extent appropriate, the Accounting Procedure will apply to such sole risk operations but separate accounts, books, bank accounts and other records shall be established and maintained for such sole risk operations in such a manner that the statements and billing relating to the Joint Account do not reflect the sole risk operations.
In the event of a conflict between the Parties with respect to this Accounting Procedure, the Accounting Committee, if any, or the Operating Committee shall meet and in good faith attempt to settle the conflict with the intent that no Party shall gain or lose at the expense of the other Parties.