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 ▇▇▇▇▇ 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

  • 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.

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

  • Stripe may attempt to collect any amounts owed from Connected Accounts prior to collecting such amounts from you, however you remain directly liable to Stripe for any of the foregoing, and Stripe may debit these amounts from your Stripe Account or Payout Account.

  • You understand that Revolut makes no guarantees to you regarding transaction processing times or settlement times to your Payout Account.

  • Each such payment made shall reduce the Payout Account balance pro tanto.

  • We will investigate any reported errors, including any errors made by Revolut or a Payment Method Provider, and, when appropriate, attempt to rectify them by crediting or debiting the Payout Account identified in the Dashboard.

  • We will investigate any reported errors, including any errors made by Stripe or a Payment Method Provider, and, when appropriate, attempt to rectify them by crediting or debiting the Payout Account identified in the Dashboard.

  • To use this service, you must provide us with a valid Payout Account for each currency for which you request settlement, based on our list of available settlement currencies.


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 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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Payout Account internal records if funds available for Payout Order.
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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 at a financial institution designated by Merchant as the account to be debited and credited by Bank for Transactions, fees, Chargebacks and other amounts due under the Merchant Agreement.

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