Excess Production Costs definition

Excess Production Costs means, for any month, the amount of Production Costs (plus any Excess Production Costs carried forward from a prior month) in excess of Gross Proceeds for such month.
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Excess Production Costs at any point in time means an amount equal to the excess of Production Costs over Gross Proceeds for the period ending with such point and beginning with the end of the most recent month in which there were Net Proceeds.
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Examples of Excess Production Costs in a sentence

  • Any Excess Production Costs reflected by any such statement shall be carried forward to the next and succeeding month or months until the Excess Production Costs shall have been liquidated.

  • El Paso shall at all times maintain true and correct books and records sufficient to determine the amounts payable to Ramshorn hereunder, including, but not limited to, a Net Profits Account to which Gross Proceeds, Production Costs and Excess Production Costs are credited and charged, and a Payout Account.

  • The Net Profits Account shall be credited with the aggregate Gross Proceeds received by El Paso, and shall be charged with the aggregate Production Costs (or as the case may be, Excess Production Costs) with respect to the Subject ▇▇▇▇▇, in each case using the Cash Method of Accounting.

  • The Net Profits Account shall be credited with the aggregate ▇▇▇▇▇ Proceeds received by El Paso, and shall be charged with the aggregate Production Costs (or as the case may be, Excess Production Costs) with respect to the Subject Wells, in each case using the Cash Method of Accounting.

  • El Paso shall at all times maintain true and correct books and records sufficient to determine the amounts payable to Lehman hereunder, including, but not limited to, a Net Profits Accou▇▇ ▇▇ which Gross Proceeds, Production Costs and Excess Production Costs are credited and charged, and a Payout Account.

  • The Transferred Overriding Royalty Interest is assigned hereby and accepted by Assignee subject to carried-forward Excess Production Costs, as defined in the Conveyance, whether attributable to periods before, on or after the Effective Date, proportionately reduced, when applicable, attributable to or relating to the Transferred Overriding Royalty Interest.

  • Any Excess Production Costs reflected by any such statement shall be carried forward to the next and succeeding month or months until the Excess Production Costs have been liquidated.