Cumulative Investments means the sum, from the Effective Date up until the end of the preceding Calendar Year, of the total Exploration and Development Costs. Neither the recovery nor the amortisation of such Costs shall be taken into consideration for the calculation of the costs referred to in this definition.
Cumulative Investments means the sum, from the Effective Date up until the end of the preceding Calendar Year, of the Exploration Costs and Development Costs determined according to the provisions of the Accounting Procedure. Neither the recovery nor the amortisation of such Costs shall be taken into consideration for the calculation of the costs referred to in this definition.
Cumulative Investments means the sum, from the Effective Date up until the end of the preceding Quarter, of the Exploration Petroleum Costs and the Development Petroleum Costs incurred by the Contractor as defined and determined under the provisions of the Accounting Procedure.
Examples of Cumulative Investments in a sentence
As described in Note 2, the Statement of Cash Flows and the Statement of Cumulative Investments were prepared in accordance with Cash Basis Accounting.
Unless the parties agree otherwise in writing, the audit conducted by the Auditor General shall include: (i) the audit of the financial statements (Statement of Cash Flows, Statement of Cumulative Investments, and Explanatory Notes), (ii) review of internal control, (iii) review of payments in disbursement requests, and (iv) audit of Component 2.