Intangible Value definition

Intangible Value has the meaning assigned in Section 7.6(a).
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Intangible Value of a Usable Well within a Resulting Area means all Costs that: (i) contribute to the production of unitized substances from or de-watering of the Resulting Area; (ii) were incurred in Drilling, Deepening, Plugging Back, Completing and Equipping the well, down to the deepest depth or formation for which such Resulting Area was created, and (iii) are properly classified as intangible costs in conformity with accounting practices generally accepted in the industry. Such Costs shall be reduced at the rates set forth below for each month during any part of which the well was operated prior to the Effective Date of such Resulting Area (including periods prior to the Effective Date of this Agreement, if applicable):
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Intangible Value of a Usable Well within a Resulting Area means all Costs that contribute to the production of unitized substances from the Resulting Area, that were incurred in Drilling, Completing, and Equipping the well, down to the deepest depth or formation for which such Resulting Area was created, and that are properly classified as intangible costs in conformity with accounting practices generally accepted in the industry. Such Costs shall be reduced at the following rates for each month during any part of which the well was operated prior to the Effective Date of such Resulting Area. 1. . 50% per month for a cumulative total of 60 months, and
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Examples of Intangible Value in a sentence

  • Except as provided in Section 13.6, the Intangible Value of each Usable Well shall be charged to all Parties within the Resulting Area on an Acreage Basis.

  • Separate adjustments for Intangible Value and Tangible Value shall be made in accordance with Section 13.4.B and Section 13.4.C.

  • The Intangible Value of each Usable Well within such Resulting Area on the Effective Date thereof shall be credited proportionately to each Party owning an interest in the well immediately prior to the Effective Date.

  • That portion of the Tangible Value of such Tangible Property and the Intangible Value of such Usable Well that is apportioned to the Resulting Area shall be included in the adjustment made as of the Effective Date of such Resulting Area in the same manner as is the Tangible Value of Tangible Property serving only the Resulting Area.

  • Separate adjustments shall be made by Unit Operator in the above credits and charges for: (i) the Intangible Value of each Usable Well; and (ii) the Tangible Value of Tangible Property.

  • If a Resulting Area, on the Effective Date thereof, is served by any Tangible Property or Usable Well that also serves a participating area not included in the Resulting Area, the Tangible Value of such Tangible Property and the Intangible Value of such Usable Well shall be apportioned between such Resulting Area and the participating area; provided the apportionment receives the Approval of the Parties in the Resulting Area and the participating area.

  • This calculated percentage shall be multiplied by the adjusted costs of the Disposal ▇▇▇▇▇, which shall include the Tangible Value and Intangible Value of such Disposal ▇▇▇▇▇ as determined under Article 13.

  • Separate adjustments shall be made by Unit Operator in the above credits and charges for (i) the Intangible Value of each Usable Well and (ii) the Tangible Value of Tangible Property.

  • If a Resulting Area, on the Effective Date thereof, is served by any Tangible Property or Usable Well that also serves a Participating Area not included in the Resulting Area, the Tangible Value of such Tangible Property and the Intangible Value of such Usable Well shall be apportioned between such Resulting Area and the Participating Area; provided the apportionment receives the Approval of the Parties in the Resulting Area and the Participating Area.


More Definitions of Intangible Value

Intangible Value is equal to Three Million Five Hundred Thousand Dollars ($3,500,000.00) (representing the portion of the Purchase Price which is not allocated to tangible personal property).
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