Reserve Adequacy Ratio definition
Reserve Adequacy Ratio means, with respect to any date, the ratio obtained by dividing (x) the sum of the Proven Reserves and 50% of the Probable Reserves as stated in the most recent Reserves Certificate, by (y) the total commercialized hydrocarbon production for the Dedicated Concessions for which Specified Royalties have been assigned under the Argentine Trust Agreement for the 12 calendar months preceding such calculation date, the quotient of which shall be divided by the Remaining Maturity as of the last day of the calendar month preceding such report date.