Production Purchase or Income Program definition

Production Purchase or Income Program means any program whose investment objective is to directly acquire, hold, operate, and/or dispose of producing oil and gas properties. Such a program may acquire any type of ownership interest in a producing property, including but not limited to, Working Interests, royalties, or production payments. A program which spends at least 90% of Capital Contributions and funds borrowed (excluding Organization and Offering Expenses) in the above described activities is presumed to be a Production Purchase or Income Program.
Sample 1Sample 2Sample 3
Production Purchase or Income Program means any program whose investment objective is to directly acquire, hold, operate, and/ or dispose of producing oil and gas properties. Such a program may acquire any type of ownership interest in a producing property, including but not limited to, Working Interests, royalties, or production payments. A program which spends at least 90% of Capital Contributions and funds borrowed (excluding Organization and Offering Expenses) in the above described activities is presumed to be a Production Purchase or Income Program.
Sample 1

Related to Production Purchase or Income Program

  • Business Unit means the assets constituting the business or a division or operating unit thereof of any Person.

  • Program means the statutorily authorized activities of the System Agency under which this Contract has been awarded.

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • Grant Amount or “Grant” means the total amount of financial assistance disbursed under this Agreement, which consists of the City's Amount and the Consultant’s Amount.