Promoted Well Costs definition

Promoted Well Costs shall have the meaning given in Section 3.1.
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Promoted Well Costs means fifty percent (50%) of: (a) Chesapeake’s Working Interest share of all Well Costs and (b) those Well Costs assumed by Chesapeake as a result of non-consent elections, or the existence of other non-participating interests, which are subject to recoupment penalties of three hundred percent (300%) or more. In the event that Chesapeake assigns a portion of its Working Interest to a third party, Promoted Well Costs shall also include fifty percent (50%) of such assigned Working Interest share of Well Costs, IF AND ONLY IF (w.) Chesapeake does not assign to such third party Chesapeake’s rights with respect to PXP’s obligation to pay Promoted Well Costs, (x.) Chesapeake remains the operator of the affected Well, (y.) Chesapeake holds a minimum fifty-one percent (51%) Working Interest in the Joint Leases contributing acreage to the affected Well, and (z.) PXP’s benefits under the tax partnership provisions attached as Exhibit “D” are no less than if such assignment had not occurred. Solely as an example with respect to the Promoted Well Costs determination under subpart (a.) of this Section, if Chesapeake assigns another twenty percent (20%) Working Interest to a third party, meets the conditions of subparts (w.) through (z.) of this Section and thereby reduces Chesapeake’s Working Interest from eighty percent (80%) to sixty percent (60%), PXP would continue to pay Promoted Xxxxx Costs equal to fifty percent (50%) of eighty percent (80%).”
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Promoted Well Costs means fifty percent (50%) of Chesapeake’s working interest share of all Well Costs attributable to periods on or before September 30, 2009 (hereinafter the “Settlement Date”).”
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Examples of Promoted Well Costs in a sentence

  • Respectively, for the 10-th instance of dataset B it must be B10 solution.csv.

  • PXP’s obligation to pay Promoted Well Costs shall be in addition to the Closing Payments payable by PXP to Chesapeake pursuant to the PSA.

  • PXP shall pay the Promoted Well Costs in addition to PXP’s Working Interest share of Well Costs.

  • Section 3.1 of the Agreement is hereby deleted in its entirety and replaced with the following: “For any Well in which Chesapeake elects to participate prior to total expenditure of the Promote Cap (“Promoted Well”), PXP shall participate in such Promoted Well and agrees to be responsible for and pay on a current and timely basis Promoted Well Costs.

  • The Academic Village complex is designed to give students an enjoyable, exciting, and intellectual home to explore ideas.

  • Notwithstanding anything contained in this Agreement to the contrary, the obligation of PXP to pay the Promoted Well Costs which remain unpaid shall terminate on June 30, 2013 if there has been a Change in Control of Chesapeake or Chesapeake Energy Corporation.

  • In the event that Participant fails to pay Promoted Well Costs for any Promoted Well by the respective Payment Date, Eureka may thereupon deliver to Participant a notice of Participant’s failure to pay, which notice shall set forth the amount of Promoted Well Costs that is past due and demand payment of such Promoted Well Costs within ten (10) days after Participant’s receipt of such notice.

  • Unless Participant has elected to be a non-consenting party in accordance with the terms hereof and the applicable Operating Agreement or Third Party JOA, in addition to the Promoted Well Costs, Participant shall pay its Proportionate Share of Well Costs for each Promoted Well.

  • This opinion shows a conception of freedom that is present in several of the testimonies gathered in our interviews.

  • In this publication we discuss about the Lithuanian case (Tunčikienė, Drejeris 2015).


More Definitions of Promoted Well Costs

Promoted Well Costs means that share of Well Costs incurred by Palace in drilling an Initial Test Well to Casing Point which are in excess of Well Costs directly attributable and chargeable to the working interest of Palace before the addition of any promotion or carry, all as determined by section 3.4 and section 3.
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Related to Promoted Well Costs

  • Full cost means the cost of providing service plus a reasonable charge for administrative overhead;

  • Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.

  • Development Work means any work carried out in relation to the physical construction of a mine;

  • Production Period is the period that for winter cereal advances commences October 1, 2021 and terminates September 30, 2023; for advances on all other field crops, honey, hogs, goats, sheep and lambs commences April 1, 2022 and terminates September 30, 2023; and for advances on cattle, continuous flow cattle, and bison commences on April 1, 2022 and terminates on March 31, 2024.

  • Edible cannabis product means cannabis product that is intended to be used, in whole or in part, for human consumption, including, but not limited to, chewing gum, but excluding products set forth in Division 15 (commencing with Section 32501) of the Food and Agricultural Code. An edible cannabis product is not considered food, as defined by Section 109935 of the Health and Safety Code, or a drug, as defined by Section 109925 of the Health and Safety Code.

  • Deadly weapon means any weapon, whether loaded or unloaded, from which a shot may be discharged, or a switchblade knife, gravity knife, billy, blackjack, bludgeon, or metal knuckles.

  • Specified sexual activities means any of the following:

  • Power production activities means any business operation that involves a project commissioned by the government of Iran whose purpose is to facilitate power generation and delivery, including, but not limited to, establishing power-generating plants or hydroelectric dams, selling or installing components for the project, providing service contracts related to the installation or maintenance of the project, as well as facilitating such activities, including by providing supplies or services in support of such activities.

  • Commercializing means to engage in Commercialization and “Commercialized” has a corresponding meaning.

  • Exploration Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Exploratory Well means a well that is not a development well, a service well or a stratigraphic test well.

  • Expected week of childbirth means the week, starting on a Sunday, during which the mother's doctor or midwife expects her to give birth.

  • Abandoned well means a well whose use has been permanently discontinued or which is in a state of disrepair such that it cannot be used for its intended purpose or for observation purposes.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Active business operations means all business operations that are not inactive business operations.

  • Development Activity means any activity defined as Development which will necessitate a Floodplain Development Permit. This includes buildings, structures, and non-structural items, including (but not limited to) fill, bulkheads, piers, pools, docks, landings, ramps, and erosion control/stabilization measures.

  • Massive Multiauthor Collaboration Site (or “MMC Site”) means any World Wide Web server that publishes copyrightable works and also provides prominent facilities for anybody to edit those works. A public wiki that anybody can edit is an example of such a server. A “Massive Multiauthor Collaboration” (or “MMC”) contained in the site means any set of copyrightable works thus published on the MMC site.

  • Commercialized shall have corresponding meanings.

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Injection well means a well into which fluids are injected. (See also “underground injection”.)

  • Commercial cannabis activity means the production, cultivation,

  • Phase III Study means a human clinical trial that is prospectively designed to demonstrate statistically whether a product is safe and effective for use in humans in a manner sufficient to obtain regulatory approval to market such product in patients having the disease or condition being studied as described in 21 C.F.R. § 312.21(c) (FDCA), as amended from time to time, and the foreign equivalent thereof.

  • complex product means a product which is composed of multiple components which can be replaced permitting disassembly and re-assembly of the product.

  • Development Activities means those activities which are normally undertaken for the development, construction, repair, renovation, rehabilitation or conversion of buildings for residential purposes, including the acquisition of property;

  • Compound of Concern means a contaminant that, based on generally available information, may be emitted to the atmosphere in a quantity from any source at the Facility that is significant either in comparison to the relevant Ministry Point of Impingement Limit or if a Ministry Point of Impingement Limit is not available for the compound then, based on generally available toxicological information, the compound has the potential to cause an adverse effect as defined by the EPA at a Point of Impingement.

  • Cannabis product means cannabis that has undergone a process whereby the plant material has been transformed into a concentrate, including, but not limited to, concentrated cannabis, or an edible or topical product containing cannabis or concentrated cannabis and other ingredients.