Net LNG Sales Proceeds definition

Net LNG Sales Proceeds means (without duplication) the total amounts received by the Company from the sale by the Company and its subsidiaries of LNG produced and loaded at the LNG Facility prior to the Commercial Operation Date (such period, the “Pre-Commercial Production Period”), less: (1) the aggregate amount of costs incurred by the Company and its subsidiaries in respect of all natural gas purchased to operate the LNG Facility or a portion thereof and produce LNG during the Pre-Commercial Production Period; (2) the aggregate amount incurred by the Company and its subsidiaries during the Pre-Commercial Production Period in respect of all natural gas transportation capacity; (3) the aggregate amount of costs incurred by the Company and its subsidiaries during the Pre-Commercial Production Period to operate the LNG Facility, including operating expenses, labor, consumables, port services, line handling charges, insurance costs, debt service, and sales and use, property, ad valorem or similar taxes; (4) the Company’s and its subsidiaries’ estimated income taxes on the Net LNG Sales Proceeds; (5) amounts paid by the Company and its subsidiaries under each LNG sales agreement entered into with respect to LNG sold during the Pre-Commercial Production Period, such as demurrage or other charges; (6) any amounts required to pay any incentive payments to any contractor, including payments of a portion of revenues; (7) working capital costs; and (8) general and administrative overhead for intercompany services during the Pre-Commercial Production Period, and after giving effect to any allocation of such proceeds to pay for Project Costs pursuant to the Project Financing Documents.
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Net LNG Sales Proceeds has the meaning set forth in Section 7.1.2.
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Related to Net LNG Sales Proceeds

  • Day means calendar day.

  • Business Day means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

  • Services means those functional services ancillary to the supply of the goods, such as transportation and any other incidental services, such as installation, commissioning, provision of technical assistance, training, catering, gardening, security, maintenance and other such obligations of the supplier covered under the contract.

  • Effective Date has the meaning set forth in the preamble.

  • Subsidiary means an entity in which more than 50 percent of the entity is owned—

  • Affiliate of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

  • Confidential Information means any communication or record (whether oral, written, electronically stored or transmitted, or in any other form) provided to or made available to Contractor or that Contractor may create, receive, maintain, use, disclose or have access to on behalf of HHS that consists of or includes any or all of the following:

  • Contract means the written agreement entered into between the purchaser and the supplier, as recorded in the contract form signed by the parties, including all attachments and appendices thereto and all documents incorporated by reference therein.

  • Board means the Board of Directors of the Company.

  • Company has the meaning set forth in the Preamble.

  • Person means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.