Second Tier Amount definition

Second Tier Amount shall have the meaning set out in sub-clause 27(3); "Semester" means a period of six (6) consecutive months commencing with the first day of January or the first day of July of a Calendar Year;

Second Tier Amount shall have the meaning set out in sub-clause 27(3);

Second Tier Amount means, as of a given time, the lesser of the following dollar amounts:

Examples of Second Tier Amount in a sentence

• When the value of crude oil for any calendar quarter calculated in accordance with Clause 26 of the PSC exceeds United States US$ 50 per barrel FOB Mombasa (hereinafter referred to as the (“Threshold Price”) adjusted for the United States of America’s Consumer Price Index (CPI) whose Effective Date will be from the date of the contract execution then a Second Tier Amount is payable by the Contractor to the Government.

• The Second Tier Amount will be calculated in respect of each Calendar Quarter according to the following formula: R = CSPO x 26% x (V – Threshold Price) Where; R is the Second Tier Amount in US Dollars; V is the value of Crude Oil in U.S. dollars for that Calendar Quarter calculated in accordance with Clause 26 and expressed in US$/bbl, provided that V exceeds the Threshold Price; and CSPO is the Contractor Share of Profit Oil for that Calendar Quarter in bbl calculated pursuant to clause 27(3) (a).

• For the purposes of this Contract the Second Tier Amount will be treated as an adjustment to the amount payable as Profit Oil.

• The Second Tier Amount will be calculated within thirty (30) days following the end of the Calendar Quarter for which it is due.

• When the value of crude oil for any calendar quarter calculated in accordance with Clause 26 of the PSC exceeds United States US$ 50 per barrel FOB Mombasa (hereinafter referred to as the (Threshold Price) adjusted for the United States of Americas Consumer Price Index (CPI) whose Effective Date will be from the date of the contract execution then a Second Tier Amount is payable by the Contractor to the Government.

• The President may refer the report to the National Assembly which has the discretion to abide by her report or favour another report if it chooses to conduct its own investigation.

• When the value of Crude Oil for any calendar quarter calculated in accordance with clause 26 exceeds US$ 50 per bbl FOB Mombasa(hereinafter referred to as the “Threshold Price”) then a Second Tier Amount is payable by the Contractor to the Government.

More Definitions of Second Tier Amount

Second Tier Amount has the meaning set forth in Section 6.2.1(1) of this Agreement.

Second Tier Amount means the product of (i) the Class A Member Invested Capital divided by the Class A Members' Percentage Interests, and (ii) the sum of the Percentage Interest of the Class B Members, the Class C Members, Class D Members and Class E Members, as follows: