PP Document definition

PP Document means that certain Conveyance of Production Payment dated as of the Effective Date between Buyer, as assignor, and Seller, as assignee, covering the Interests, as amended by that First Amendment to Conveyance of Production Payment dated as of the Effective Date.
View Source

Examples of PP Document in a sentence

  • Any resulting overpayment, together with Applicable Interest as provided in Section 3.7 of the PP Document, shall be debited to the Net Profits Account for the then current month pursuant to Section 3.3(p) of the PP Document but only if the Production Payment is still in effect and only up to the amount that would otherwise be payable to Seller for such month as the holder of the Production Payment but for such debit.

  • The purchase price for the Interests (the "Purchase Price") shall be: (i) cash in the amount of $25,000,000.00 to the Seller (the "Cash Portion of the Purchase Price"), which is being paid in immediately available funds at the Closing to CMS on behalf of Seller, (ii) the Production Payment burdening the Interests, which is being conveyed by Buyer to Seller in the PP Document and (iii) amounts payable to Seller pursuant to the Fixed Payment Note.

  • If this filing position is challenged by the State of Michigan or the single business tax is amended such that Buyer is required to pay any single business tax, the parties acknowledge that during the term of the Production Payment reserved to Seller in the PP Document 100% of such tax shall be debited to the Net Profits Account under such Production Payment as provided in Section 3.3(c) thereof.

  • If the sum of the recalculated Aggregate Tax Credits shown on the Recalculation Statement exceeds the sum of the Aggregate Tax Credits shown on the prior corresponding Quarterly Statements, then, Buyer shall treat such excess as an addition to the Aggregate Tax Credits for purposes of determining Net Profits pursuant to Sections 3.1, 3.2 and 3.3 of the PP Document.

  • The balance of the overpayment, together with Applicable Interest, shall be repaid by Seller to Buyer as provided in Section 3.7 of the PP Document.

  • Upon any such repurchase by Seller, any funds remaining in the Quicksilver Abandonment Account-PP, and any funds received by Buyer from such account but not applied to pay Abandonment Costs (as defined in the PP Document), shall be paid to Seller.