PV means photovoltaic.
PV means photovoltaic;
PV means the net present value, discounted at 10% per annum, of the future net revenues expected to accrue to the Borrower’s and its Subsidiaries’ collective interests in Proved Reserves expected to be produced from Oil and Gas Properties during the remaining expected economic lives of such reserves. Each calculation of such expected future net revenues shall be made in accordance with the then existing standards of the Society of Petroleum Engineers, provided that in any event (a) appropriate deductions shall be made for severance and ad valorem taxes, and for operating, gathering, transportation and marketing costs required for the production and sale of such reserves, (b) appropriate adjustments shall be made for hedging operations, provided that Hedging Agreements with non-investment grade counterparties shall not be taken into account to the extent that such Hedging Agreements improve the position of or otherwise benefit the Borrower or any of its Subsidiaries, (c) the pricing assumptions used in determining PV for any particular reserves shall be based upon the following price decks: (i) for natural gas, the quotation for deliveries of natural gas for each such year from the New York Mercantile Exchange for Xxxxx Hub, provided that with respect to quotations for calendar years after the fourth calendar year, the quotation for the fourth calendar year shall be applied and (ii) for crude oil, the quotation for deliveries of West Texas Intermediate crude oil for each such calendar year from the New York Mercantile Exchange for Cushing, Oklahoma, provided that with respect to quotations for calendar years after the fourth calendar year, the quotation for the fourth calendar year shall be applied, and (d) the cash-flows derived from the pricing assumptions set forth in clauses (b) and (c) above shall be further adjusted to account for the historical basis differentials for each month during the preceding 12-month period calculated by comparing realized crude oil and natural gas prices to Cushing, Oklahoma and Xxxxx Hub NYMEX prices for each month during such period. Notwithstanding the foregoing, Proved Developed Reserves shall represent not less than 70% of PV.
Examples of PV in a sentence
Provide a complete solar photovoltaic (PV) system to offset 85% of the electrical energy used at each of the seven campuses/BUSD properties listed.
More Definitions of PV
PV means photovoltaic, a method of generating electrical power by converting solar irradiation into electricity;
PV means a photovoltaic solar system;
PV means flat-plate non-concentrating photovoltaic modules.
PV has the meaning provided in Section 3.3(a).
PV has the meaning set forth in Section 2.05 (c).
PV means Produce Ventures, L.L.C., a Delaware limited liability company.
PV has the meaning set forth in the second (2nd) paragraph of the Recitals.