Production Tracking Rate definition

Production Tracking Rate means, with respect to any Semi-Annual Determination Date beginning with the Payment Date occurring in January 2023, the quotient of (a) the aggregate production volume with respect to the Oil and Gas Portfolio actually realized over the six (6) calendar months immediately preceding such date of determination over (b) the aggregate production volume with respect to the Oil and Gas Portfolio projected in the most recent Reserve Report for the six (6) corresponding calendar months.
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Production Tracking Rate means, with respect to any Semi-Annual Determination Date beginning with the Payment Date occurring in January 2021, the quotient of (a) the aggregate production volume with respect to the Oil and Gas Portfolio actually realized over the six (6) calendar months immediately preceding such date of determination over (b) the aggregate production volume with respect to the Oil and Gas Portfolio projected in the most recent Reserve Report for the six (6) corresponding calendar months.
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Production Tracking Rate means, as of any Quarterly Determination Date, the quotient of (a) the aggregate Hydrocarbon production volume with respect to the Wellbore Interests (calculated on a Mcf equivalent basis) reported over the six calendar months immediately preceding such Quarterly Determination Date divided by (b) the aggregate Hydrocarbon production volume with respect to the Wellbore Interests (calculated on a Mcf equivalent basis) projected in the most recent Reserve Report delivered by the Issuer pursuant to the Indenture with respect to such six immediately preceding calendar months. The Production Tracking Rate shall first be tested on the Quarterly Determination Date occurring in December 2022.
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Related to Production Tracking Rate

  • Interconnection Feasibility Study means either a Generation Interconnection Feasibility Study or Transmission Interconnection Feasibility Study.

  • Interconnection Activation Date means the date that the construction of the joint facility Interconnection arrangement has been completed, trunk groups have been established, joint trunk testing is completed and trunks have been mutually accepted by the Parties.

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Interconnection Point means the point(s) of connection(s) at which the project is connected to the grid i.e. it shall be at 11 / 22 kV bus bar level of substation of MSEDCL.

  • Tariff Rate means a fixed or variable rate within a Price Category that determines the Distribution Services charges that apply to an ICP;

  • Dispatch Rate means the control signal, expressed in dollars per megawatt-hour, calculated and transmitted continuously and dynamically to direct the output level of all generation resources dispatched by the Office of the Interconnection in accordance with the Offer Data.

  • Meet-Point Billing or "MPB" or "Jointly Provided Switched Access" or "JPSA" refers to an arrangement whereby two (2) or more Telecommunications Carriers including an ILEC, CLEC or CMRS carrier receive traffic in the same LATA that the call is to be terminated in or originated from, and jointly provide Switched Access Service to an Interexchange Carrier, with each ILEC, CLEC or CMRS carrier receiving an appropriate share of the revenues from the IXC as defined by their effective Switched Access Tariffs or, if applicable, CMRS contract.

  • Exit Point means a border control post or any other place designated by a Member State where animals, falling within the scope of Regulation (EC) No 1/2005, leave the customs territory of the Union;

  • Interconnection Studies means the Interconnection Feasibility Study, the System Impact Study, and the Facilities Study described in Tariff, Part IV and Tariff, Part VI. Interface Pricing Point:

  • Production Unit means a facility for generation of electricity made up of a single generation unit or of an aggregation of generation units;

  • Production facility means a facility in California at which gasoline or CARBOB is produced. Upon request of a producer, the executive officer may designate, as part of the producer's production facility, a physically separate bulk storage facility which (A) is owned or leased by the producer, and (B) is operated by or at the direction of the producer, and (C) is not used to store or distribute gasoline or CARBOB that is not supplied from the production facility.

  • Interconnection Study means any of the studies defined in the CAISO Tariff or, if applicable, any distribution provider’s tariff that reflect the methodology and costs to interconnect the Project to the Participating Transmission Owner’s electric grid.