Net Profits Account definition

Net Profits Account means the account maintained in accordance with the provisions of Section 3.1.
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Net Profits Account is defined in Section 3.4.
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Net Profits Account shall have the meaning assigned to it in Section 2.1 of each the NPI Conveyance Agreements.
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Examples of Net Profits Account in a sentence

  • Grantor shall establish and maintain true and correct books and records in order to determine the credits and debits to the Net Profits Account and the Reserve Account to be maintained by Grantor at all times during the Net Profits Period, in accordance with the terms of this Conveyance and prudent and accepted accounting practices.

  • Any Developed Properties Debit Balance shall be carried forward in the Developed Properties Net Profits Account for the following Payment Period.

  • The Developed Properties Net Profit Account, the Remaining Properties Net Profits Account and the Overriding Royalty Account will be maintained in accordance with the terms of this Conveyance and prudent and accepted accounting principles.

  • In the event that any Debit Balance exists, then an amount shall be computed equal to interest on such Debit Balance at the Money Market Interest Rate for the period between the last day of the Payment Period that resulted in such Debit Balance and the last day of the next Payment Period, which amount shall, on the last day of such next Payment Period, be debited to the Net Profits Account in the same manner as other debits to the Net Profits Account for such Payment Period.

  • Grantor shall establish and maintain true and correct books and records in order to determine the credits and debits to a Net Profits Account to be maintained by Grantor at all times during the Net Profits Period, in accordance with the terms of this Conveyance and prudent and accepted accounting practices.

  • If the NPI Calculation results in a positive amount with respect to the Payment Period (the “Net Profits”), then (i) that positive amount shall be subtracted from the balance of the Net Profits Account to cause the Net Profits Account to have a zero balance immediately following the end of such Payment Period, (ii) that positive amount shall be multiplied by the Proceeds Percentage, and (iii) the resulting product thereof (the “NPI Payout”) shall be payable to Grantee as specified in Section 4.3.

  • Any Subject Hydrocarbons retained and/or used by Assignor shall be credited to the Net Profits Account at the same price as the Subject Hydrocarbons that are sold by Assignor at or near the time of such retention or use.

  • 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.

  • Except as otherwise provided herein, the Net Profits Account shall be credited with the gross proceeds from each sale or other disposition of Subject Hydrocarbons.

  • Following any such payment, the balances of the Net Profits Account and the Payout Account shall be reduced by the amount of such payment.


More Definitions of Net Profits Account

Net Profits Account is defined in the PP Document.
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Net Profits Account is defined in Article 4.8.
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Net Profits Account shall have the meaning assigned to it in Section 4.1.
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Net Profits Account shall have the meaning set forth in the PEC -------------------- Production Payment and Rock Production Payment.
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Related to Net Profits Account

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Capital Account Distribution Date and "Income Account Distribution Date" shall mean the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Capital Account means, with respect to any Partner, the Capital Account maintained for such Partner in accordance with the following provisions:

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Income Account Distribution Date means the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Transfer Account means the account established hereunder to which amounts transferred to this Plan from a direct plan-to-plan transfer in accordance with Section 4.7 are allocated.