Marketable Condition definition

Marketable Condition for oil means sufficiently free from impurities and otherwise in a condition that it will be accepted by a purchaser under a sales contract typical for the field or area.

Marketable Condition for gas means sufficiently free from impurities, except CO2, H2S and N2, and otherwise in a condition that it will be accepted by a purchaser under a sales contract typical for the field or area.

Marketable Condition for gas means sufficiently free from impurities, except CO2, H2S, and N2, and otherwise in a condition that it will be accepted by a purchaser under a sales contract typical for the field or area.

Examples of Marketable Condition in a sentence

• Inderbitzin, The Marketable Condition Rule (presented to the Petroleum Accountants Society of Oklahoma, Feb.

• Under the Marketable Condition Rule, oil and gas operators are obligated to bear all costs necessary to put the product in “marketable” condition.19 Once gas is marketable, an operator may pass onto the royalty owner a proportionate share of any costs to enhance the value of the gas.20Here, it is undisputed that Oxy deducted from its royalty payments a portion of its Processing costs.

• Although the Kansas Marketable Condition Rule was consistent with the Class’s theory, the case involved primarily processing deductions which in Kansas had not been pursued in other prior royalty owner class actions.

• If the gas was not marketable until that sale, Oxy’s deductions for Processing costs would have been in violation of its duties under the Marketable Condition Rule.

• If a willing relative cannot be located, the judge should inquire whether the foster parents or other identified caregivers would be suitable and available to adopt the child.

• Orexo shall have the right but not the obligation to purchase at its election all or part of Strakan’s Stock existing on the date on which Orexo starts to book the sales of Product in the Orexo Territory that is in Good Marketable Condition at the Landed Cost.

• The issue here, however, is whether it is possible for gas to be in marketable condition, thus relieving the operator of further responsibility under the Marketable Condition Rule, before selling the gas.

• Any quantities of the Stock purchased by Orexo that is not in Good Marketable Condition may be returned by Orexo for a full refund of the Landed Cost paid for such Stock and reimbursement of direct costs incurred by Orexo in connection with transport of such Stock to Strakan or its destruction.

More Definitions of Marketable Condition

Marketable Condition means space that is contiguous and in a commercially reasonable marketable configuration for lease to a third party tenant, as determined by Landlord in its reasonable discretion. In connection with the preparation of the Final Working Drawings, Tenant shall cause its “Architect,” as that term is defined in the Tenant Work Letter, to include the rentable and usable square footage of the Building B Substitute Premises, which measurement shall be make in compliance with the Standard Method for Measuring Floor Area in Office Building, ANSI Z65.1 – 1996 and its accompanying guidelines (“BOMA”). Landlord’s approval of the Final Working Drawing shall not be deemed to be Landlord’s approval of the measurement of the Building B Substitute Premises. Within thirty (30) days after Landlord’s approval of the Final Working Drawings, Landlord shall have the right to have Landlord’s space planner/architect verify the measurement of the rentable and usable square feet of the Building B Substitute Premises performed by Tenant’s Architect. In the event Landlord’s space planner/architect disagrees with Tenant’s Architect as to the rentable and usable square feet of the Building B Substitute Premises, then Landlord’s space planner/architect shall notify Tenant’s Architect (a “Measurement Notice”) and Landlord’s space planner/architect and Tenant’s Architect shall promptly meet to discuss the measurement of the Building B Substitute Premises. In the event Landlord’s space planner/architect and Tenant’s Architect are not able to agree on the rentable and usable square feet of the Building B Substitute Premises within ten (10) business days following the date Tenant’s Architect receives the Measurement Notice, then the determination of Landlord’s space planner/architect shall be conclusive and binding upon the parties. Once the rentable and usable square feet of the Building B Substitute Premises has been determined, all amounts, percentages and figures appearing or referred to in this Fourth Amendment based upon such square footage (including, without limitation, the amount of the Base Rent, Tenant’s Share and the Tenant Improvement Allowance) shall be modified in accordance with such determination, and Landlord and Tenant shall execute an amendment to the Lease setting forth such correct amounts, numbers and figures.

Marketable Condition means Oil or Gas that is sufficiently free of impurities and otherwise in a condition that will be accepted by a purchaser under an Arm’s Length transaction.

Marketable Condition means petroleum that is sufficiently free from impurities and is otherwise in such a condition that it will be accepted for transportation through a transportation facility; (hydrocarbures commercialisables)

Marketable Condition means the "lease products are sufficiently free from impurities and otherwise in a condition that they will be accepted by a purchaser under a sales contract typical for the field or area." 30 C.F.R. § 206.101 (1994). The concept of "marketable condition" entails not only the physical conditioning of the gas, but marketing services as well. For royalty purposes, a lessee is responsible for arranging transportation downstream of the delivery point, dealing with local distribution companies, aggregating nominations of customers on the same pipeline, finding purchasers, negotiating sales contracts and monitoring sales, the costs of storage,

Marketable Condition means “lease products which are sufficiently free from impurities and otherwise in a condition that they will be accepted by a purchaser under a sales contract typical for the field or area” 30 CFR §1206.151

Marketable Condition. ’ means lease production that