Payout Balance definition

Payout Balance means the status, as of the dates of the calculations, of the recovery by the Seller or a third party of a cost amount specified in the contract relating to a well out of the revenue from such well where the net revenue interest of the Seller therein will be reduced or the working interest therein will be increased when such amount has been recovered.
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Payout Balance has the meaning specified in Section 3.15.
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Payout Balance shall have the meaning assigned to it in Section 5.31.
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Examples of Payout Balance in a sentence

  • The Payout Balance for each Company Well and the applicable joint operating agreement and/or development agreement are properly reflected in Schedule 3.19 as of the respective date(s) shown thereon.

  • Schedule 3.19 contains a list, which is complete and accurate in all material respects, of the status of the Payout Balance, as of the Effective Time, for each Well in which the Seller has an interest.

  • The Payout Balance for each Well is properly reflected in Schedule “3.11A” as of the respective date(s) shown thereon.

  • The Payout Balance for each Well is properly reflected in Schedule “3.20A” as of the respective date(s) shown thereon.

  • To Seller’s Knowledge, Schedule 2.14 contains a list, which is complete and accurate in all material respects, of the status of the Payout Balance, as of the Effective Time, for each Well.

  • To the knowledge of Company and Subsidiary, based on information given to Company and Subsidiary by third-party operators for all xxxxx not operated by Company or Subsidiary, the Payout Balance for any such third-party operated well in which Company or Subsidiary owns an Oil and Gas Interest is properly reflected in the Disclosure Schedule as of the respective dates shown thereon.

  • Schedule 1.03.01(A) Daily Drilling Reports Schedule 1.03.01(B) Unleased Mineral Interests Schedule 2.02.01 AFEs Schedule 2.02.06 Consents Schedule 2.02.10 Hydrocarbon Sales Contracts Schedule 2.02.11 Contracts Schedule 2.02.12 Status of Payout Balance Schedule 2.02.15 Plugging and Abandonment Schedule 2.02.17 Bonds, Letters of Credit, etc.

  • Except as set forth on Schedule 3.24, no well included in the Oil and Gas Properties is subject to a Payout Balance and Schedule 3.24 correctly reflects the Payout Balance for each well listed thereon as being subject to a Payout Balance.

  • The Payout Balance for any well owned and operated by Company or Subsidiary is properly reflected in the Disclosure Schedule as of the respective dates shown thereon.

  • The Payout Balance for each Well is properly reflected in Schedule 3.11A as of the respective date(s) shown thereon.

Related to Payout Balance

  • Target Balance has the meaning set forth in Section 6.1I(1) hereof.

  • Current Balance in relation to a Loan at any relevant date, means the aggregate principal balance of the Loan at such date (but avoiding double counting) including the following:

  • 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.

  • Debit Balance means, as of any date, the dollar amount, if any, representing each of: (1) the aggregate Annual Charge, accrued in accordance with Section 3.4(g)(i); and (2) any Leveraged Principal Amount (together with any pro rata Interest Amounts determined in accordance with Section 3.4(g)(ii), if applicable), as reduced by any distributions recorded from ML Ventures Units recorded in a Participant’s Account in accordance with Section 3.4(e).

  • Component Balance With respect to any Component and any Distribution Date, the Initial Component Balance thereof on the Closing Date, (A) plus any increase in the Component Balance of such Component pursuant to Section 4.02 due to the receipt of Subsequent Recoveries, (B) minus the sum of all amounts applied in reduction of the principal balance of such Component and Realized Losses allocated thereto on previous Distribution Dates.

  • Asset Balance means, for any Payment Date, the Pool Balance as of the beginning of the current Collection Period.

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Initial Component Balance As specified in the Preliminary Statement.

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the

  • New Balance This means the total outstanding balance on your account. It will be listed on each statement as the “New Balance”.

  • Cash Balance means, at any date of determination, the unencumbered and otherwise unrestricted cash and Cash Equivalents of the NCLC Group.

  • Payout means that time at which cash distributions have been made by the Limited Partnership to the Unit Holders (together with their predecessors in interest) pursuant to Section 5.1 of the Limited Partnership Agreement (together with any distributions to such Unit Holders pursuant to Section 3.3 of the Limited Partnership Agreement), in an aggregate amount equal to the Unit Holders' Subscriptions to the Limited Partnership.

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Accrued Benefit have the meanings specified in ERISA.

  • Credit Balance means the funds remaining and due to a Student after such Student’s loans and other financial aid remittances, including but not limited to Title IV Higher Education Act program funds, have been credited to the Student’s account at School.

  • Fund balance is the value of the Accumulation Fund, determined pursuant to Section 1.4.

  • Economic Capital Account Balances has the meaning set forth in Section 6.1.E.

  • Performance Percentage means the factor determined pursuant to a Performance Schedule that is to be applied to a Target Award and that reflects actual performance compared to the Performance Target.

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

  • Cash Balances means cash in hand or credited to any account with a financial institution and securities which are readily convertible into cash;

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

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

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Annual Balanced Budget means that, in each Funding Year of the term of this Agreement, the total revenues of the HSP are greater than or equal to the total expenses, from all sources, of the HSP;