Thirteenth Month Adjustment definition
Thirteenth Month Adjustment means the accounting procedure performed annually by an operator of particular Tangibles for the purpose of redistributing certain revenues and expenses, including, without limitation, operating expenses, processing fee revenues, excess capacity utilization fees and recoveries, royalties and gas cost allowances (or similar cost allowances);
Thirteenth Month Adjustment means a reconciliation adjustment made pursuant to an agreement which provides that during a calendar year, fees, revenues or expenses (including operating expenses, processing fee revenues, excess capacity utilization fees and recoveries, royalties and gas cost allowances or similar cost allowances) will be distributed to or paid by one or more parties to the agreement on the basis of estimates thereof and following the end of such calendar year, the actual amount of such fees, revenues or expenses will be determined and a reconciliation of the estimated amounts and the actual amounts will be made;
Thirteenth Month Adjustment means an annual reconciliation adjustment made by an operator pursuant to a WCBU Title and Operating Document for the purpose of reconciling and redistributing actual to estimated operating expenses, processing fee revenues, royalties and gas cost allowances and other costs, expenses or revenues among the owners or users of those WCBU Assets.
More Definitions of Thirteenth Month Adjustment
Thirteenth Month Adjustment means the accounting procedure performed annually by any operator of certain of the Assets for the purpose of redistributing operating expenses, processing fee revenues, royalties and gas cost allowances and other costs, expenses or revenues among the owners or users of those Assets. (oooo) "Threshold" has the meaning ascribed thereto in Section 6.4(a). (pppp) "Title and Operating Documents" means: (i) the Leases; (ii) agreements relating to the acquisition, ownership, operation or exploitation of the Petroleum and Natural Gas Rights, Tangibles or the ▇▇▇▇▇, including: (A) operating agreements, royalty agreements, farm-out or farm-in agreements, option agreements, participation agreements, pooling agreements, unit agreements, unit operating agreements, sale and purchase agreements and asset exchange agreements; (B) agreements for the sale of Petroleum Substances that are terminable on thirty-one (31) days notice or less without early termination penalty or other cost; (C) agreements pertaining to the Surface Rights; (D) agreements for the construction, ownership and operation of gas plants, gathering systems and other tangible depreciable property and assets; (E) service agreements for the treating, gathering, storage, transportation or processing of Petroleum Substances or other substances, the injection or subsurface disposal of other substances, the use of well bores or the operation of any Tangibles or ▇▇▇▇▇ by a Third Party; (F) surface leases, pipelines easements, road use agreements and other contracts granting the right to use the surface of lands; (G) the Transportation, Sale and Handling Agreements; (iii) the [*****]; (iv) the leases for motor vehicles described in Part 3 of Schedule A;
Thirteenth Month Adjustment means a reconciliation payment made pursuant to an agreement which provides that during a period (usually a calendar year) revenues and/or expenses will be distributed to or paid by one or more parties to the agreement on the basis of estimates thereof and following the end of the period (usually the first calendar month after the end of the period), the actual amount of the revenues or costs will be determined and a reconciliation between the estimated amounts and the actual amounts will be made.
Thirteenth Month Adjustment means the reconciliation adjustment performed annually by an operator of particular Purchased Assets for the purpose of reconciling estimates of certain revenues and expenses, including operating expenses, processing fee revenues, excess capacity utilization fees and recoveries, royalties and gas cost allowance (or similar cost allowance) prepared during a calendar year with the actual amounts of such revenues and costs prepared following the end of such calendar year;
Thirteenth Month Adjustment means a reconciliation payment made pursuant to an agreement which provides that, during a period of time (usually a calendar year), revenues and expenses (such as operating expenses, processing fee revenues, excess capacity utilization fees and recoveries, royalties, gas cost allowances or similar cost allowances) will be distributed to or paid on the basis of estimates thereof and, following the end of such period of time, the actual amount of such revenues and costs will be determined and adjustments made by the parties to the agreement to reconcile the estimated amounts and the actual amounts;