Payout Account definition

Payout Account is defined in Section 2.4.
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Payout Account. The amount of all payments by Ramshorn for Investment Invoices plus an additional 17.5% shall be credited to Ramshorn in an account for all Subject Xxxxx maintained by El Paso (the "Payout Account"), which will be used to determine when all of the Net Overriding Royalty Interest purchased by Ramshorn shall be suspended pursuant to Section 2.7 or converted pursuant to Section 2.7(c). For example, if an AFE for drilling a Subject Well is for $1,000,000 and El Paso's working interest is 100%, then El Paso shall invoice Ramshorn for $200,000 and, upon payment of the invoice, $235,000 shall be credited to the Payout Account. If an AFE for drilling a Subject Well is for $1,000,000 and El Paso's working interest is 50%, then El Paso shall invoice Ramshorn for $100,000 and, upon payment of the invoice, $117,500 shall be credited to the Payout Account.
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Payout Account means a bookkeeping account for each Preferred Unit Holder equal to 110% of the Capital Contribution of such holder less an amount equal to the cash or fair market value of property distributed to such holder by the Company with respect to the Preferred Units, in each case pursuant to this Agreement.
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Examples of Payout Account in a sentence

  • The following year, the payment shall be 1/9 of the Account Balance (or the Fixed Date Payout Account Balance, in the event of a Fixed Date Payout), calculated as described in this definition.

  • For the purpose of this Agreement, any payment shall be deemed to have been received by the Assignee the day on which the Collection and Payout Account is credited.

  • All monies, which the Assignee is entitled to receive under or in accordance with this Agreement, shall be paid by cheque, draft, or pay order drawn on a scheduled bank or by way of electronic funds transfer or mail transfer for crediting the Collection and Payout Account.

  • By way of example, if the Participant elects a ten year Annual Installment Method, the first payment shall be 1/10 of the Account Balance (or the Fixed Date Payout Account Balance, in the event of a Fixed Date Payout), calculated as described in this definition.

  • We may reduce the amount settled to your Payout Account by the amount of Fees, Fines, and amounts owed to us for any reason.

  • However, you should be aware that your ability to recover funds you have lost due to an error may be very limited or even impossible, particularly if we did not cause the error, or if funds are no longer available in any Payout Account.

  • You may not, other than as required by the Financial Services Terms or Payment Terms (each as defined below), grant or assign any interest in payment processing proceeds to any third party until such time as the payment processing proceeds are deposited into your Payout Account (as defined below).

  • The information required for settlement will depend on the financial institution holding the Payout Account.

  • In connection with each Election Form, a Participant may irrevocably elect to receive a future “Fixed Date Payout” from the Plan of his or her Fixed Date Payout Account Balance.

  • If you update your Payout Account (including via the Dashboard) then you must ensure that you continue to comply with the requirements of this section.


More Definitions of Payout Account

Payout Account means a designated depository account in the United States opened by or on behalf of you and owned by you.
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Payout Account internal records if funds available for Payout Order.
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Payout Account means any group of up to consecutive Well Projects in which General Council has elected, at casing point, to participate in on any Lease within the Mineral Lands.
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Related to Payout Account

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

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

  • 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.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Investment Account As defined in Section 3.12(a).

  • Individual retirement account means an individual retirement account under Section 408 of the Code, a Roth IRA under Section 408A of the Code, a simplified employee pension under Section 408(k) of the Code or a simple retirement account for employees under Section 408(p) of the Code.

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

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • 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.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Share Account A form of Deposit Account that each member is required to maintain to remain a member of BECU. We, us, our: BECU. You, your: Each person or entity, individually, and collectively, who opens, establishes, accesses, is named as an Account Holder or Authorized Signer or who applies for any Account.

  • Retention Account means an interest bearing Dollar account of the Borrowers opened or (as the context may require) to be opened jointly by the Borrowers with the Account Bank and includes any sub-accounts thereof and any other account designated in writing by the Agent to be a Retention Account for the purposes of this Agreement;

  • Direct Account : means any Account which is not an ISA Account.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • 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.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Matching Contribution Account means that portion of a Participant’s Account established to record Matching Contributions on behalf of a Participant. Matching Contributions shall be deemed to be invested in the Company stock, and a Participant shall not be permitted to elect a different Deemed Crediting Option for such Matching Contributions.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • 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.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;