Pipeline Venture definition
Examples of Pipeline Venture in a sentence
At the time Pipelines are to be constructed, the Pipeline Venture shall prepare a budget and issue a capital call to the equity owners to obtain the equity capital needed for such activities (a "Capital Call").
In the event that an equity owner of the Pipeline Venture who is a Party to this Agreement does not participate in a portion of the Pipeline to which ▇▇▇▇▇ within a Unit are transporting their gas production, then the maximum profit that the Pipeline Venture shall be allowed to charge against that equity owner's sales of production shall be equal to the GAAP capital cost recovery for such Pipeline section, plus fifteen percent (15%).
Following the establishment of the Pipeline Venture, the Parties shall immediately convey their respective interests in any compression facilities and Pipelines to the Pipeline Venture.
Until such time as the Pipeline Venture is established, the installation of compression facilities and Pipelines shall be included within the definition of "Equip" as set forth in the Unit Operating Agreement attached hereto as Exhibit "C-1".
In the event that an equity owner does not participate in a Capital Call its interest in the Pipeline Venture shall be reduced prorata.
The remaining terms and conditions of the Pipeline Venture shall be documented in an Operating Agreement to be mutually negotiated and agreed to between the parties prior to the commencement of any Pipeline activity.