ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT Sample Clauses

ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT. If the Unit Op- erator is not the sole owner of working inter- ests, costs and expenses incurred by Unit Op- erator in conducting unit operations here- under shall be paid and apportioned among and borne by the owners of working inter- ests, all in accordance with the agreement or agreements entered into by and between the Unit Operator and the owners of working in- terests, whether one or more, separately or collectively. Any agreement or agreements entered into between the working interest owners and the Unit Operator as provided in this section, whether one or more, are herein referred to as the ‘‘unit operating agree- ment.’’ Such unit operating agreement shall also provide the manner in which the work- ing interest owners shall be entitled to re- ceive their respective proportionate and allo- cated share of the benefits accruing hereto in conformity with their underlying operating agreements, leases, or other independent contracts, and such other rights and obliga- tions as between Unit Operator and the working interest owners as may be agreed upon by Unit Operator and the working in- terest owners; however, no such unit oper- ating agreement shall be deemed either to modify any of the terms and conditions of this unit agreement or to relieve the Unit Operator of any right or obligation estab- lished under this unit agreement, and in case of any inconsistency or conflict between this Bureau of Land Management, Interior § 3186.1 agreement and the unit operating agree- ment, this agreement shall govern. Two cop- ies of any unit operating agreement executed pursuant to this section shall be filed in the proper BLM office prior to approval of this unit agreement.
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ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT. 9.1 Costs and expenses incurred by Unit Operator in conducting Unit operations hereunder shall be paid, apportioned among and borne by the Working Interest Owners in accordance with the Unit Operating Agreement. Such Unit Operating Agreement shall also provide the manner in which the Working Interest Owners shall be entitled to receive their respective proportionate and allocated share of the benefits accruing hereto in conformity with their underlying operating agreements, leases or other independent contracts and such other rights and obligations as between Unit Operator and the Working Interest Owners as may be agreed upon by the Unit Operator and the Working Interest Owners; however, no such Unit Operating Agreement shall be deemed either to modify any of the terms and conditions of this Unit Agreement or to relieve the Unit Operator of any right or obligation established under this agreement and in case of any inconsistency or conflict between this agreement and the Unit Operating Agreement, this Unit Agreement shall prevail. Three (3) true copies of any Unit Operating Agreement executed pursuant to this Article shall be filed with the Supervisor as required prior to approval of this agreement.
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ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT. 9.1 Costs and expenses incurred by Unit Operator in conducting unit operations hereunder shall be paid and apportioned among and borne by the owners of Working Interests; all in accordance with the agreement or agreements entered into by and between the Unit Operator and the owners of Working Interests, whether one or more, separately or collectively.
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ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT. 9.1 Costs and expenses incurred by Unit Operator in conducting unit operations here- under shall be paid and apportioned among and borne by the owners of Working Inter- ests; all in accordance with the agreement or agreements entered into by and between the Unit Operator and the owners of Working In- terests, whether one or more, separately or collectively.
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ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT. Ifth UmtOperato s t th sole owner of working interests, costs and expenses incurred by Umt Operator in conducting umt operations hereunder shall be paid and apportioned among and borne by the owners fworking interests, all accordance with the agreement or agreement entered int by and between the U t Operator and the wnersof working interests, whether one or more, separately or collecti xxx Any agreement or agreements entered into between the working interest owners and the Umt Operator as provided in this section, whether one o more, are herein referred to as the umt operating agreeme t S ch umt operati g agreement shall also provide the manner in which the working interest owners shall be entitled to recei e their respecti e proportionate and allocated share ofthe benefits accruing hereto m conformity with their underlying operating agreements, leases or other independent contracts and such other rights and obligations as between U t Operator and the working interest owners as may be agreed po by U t Operator and the working interest owners however no such umt operating agreement shall be deemed either to modify any ofthe terms and conditions ofthis umt agreement or to reliev th Umt Operat ofany right bl gat establ shed under th umt agreement, and m cas fany nsisten y o fli t betw en th s agreement and the umt operating agreement this agreement shall go em Two copies of any un t operating agreement executed pursuant to this sect on shall b filed n the proper B rea f Land Management ffi 8 RIGHTS AND OBLIGATIONS OF UNIT OPERATOR E cept as otherwise specifically provided herein the exclusive right, pnvil ge and duty of e ere ng any and all nghts of th parties hereto wh h are eces ary on enient ft) prospecting f produ mg, stonng, allocating, and distributing the unitized substances are hereby delegated t a d shall be exerc s d by the Umt Operator as herein provided AcceptabI evidence oftitle to sad nghts shall be deposited with U it Operator and, together with this agreement, shall constitute and define the nghts pn i leges and obi gat o s of U it Operate Nothing herein, however shall b construed to transfe title to any land or to any leas or operat ng agreement, it bei g derstood that under th s agreement the Unit Operat in its capacity as Umt Operator shall ex rcise the nghts ofpossess and use ested n the parties hereto only for the purposes herein specified 9 DRILLING TO DISCOVERY W thin six (6) mo ths after th ffective date hereof the Un t Operator shall ...
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ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT. If the Unit Operator is not the sole owner of working interests, costs and expenses incurred by Unit Operator in conducting unit operations hereunder shall be paid and apportioned among and borne by the owners of working interests, all in accordance with the agreement or agreements entered into by and between the Unit Operator and the owners of working interests, whether one or more, separately or collectively. Any agreement or agreements entered into between the working interest owners and the Unit Operator as provided in this section, whether one or more, arc herein referred to as die "unit operating agreement". Such unit operating agreement shall also provide the manner in which the working interest owners shall be entitled to receive their respective proportionate and allocated share of die benefits accruing hereto in conformity with their underlying operating agreements, leases, or other independent contracts, and such other rights and obligations as between Unit Operator and the working interest owners as may be agreed upon by Unit Operator and the working interest owners; however, no such unit operating agreement shall be deemed either to modify any of the terms and conditions of this unit agreement or to relieve the Unit Operator of any right or obligation established under this unit agreement, and in case of any inconsistency or conflict between this agreement and the unit operating agreement, this agreement shall govern. Two copies of any unit operating agreement executed pursuant to this section shall be filed in the proper Bureau of Land Management office and one true copy with the Land Commissioner, and one true copy with the Division prior to approval of this unit agreement.
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Related to ACCOUNTING PROVISIONS AND UNIT OPERATING AGREEMENT

  • Accounting Provisions Unless otherwise expressly provided herein, all references in this Agreement to GAAP shall mean GAAP as in effect on the date of this Agreement as published by the Financial Accounting Standards Board. All accounting terms used in this Agreement and not defined expressly, completely or specifically herein shall have the respective meanings given to them, and shall be construed, in accordance with GAAP. All financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in accordance with GAAP applied in a manner consistent with that used to prepare the most recent audited consolidated financial statements of the Borrower and its Subsidiaries. All financial or accounting calculations or determinations required pursuant to this Agreement shall be made, and all references to the financial statements of the Borrower, Adjusted EBITDA, Senior Secured Debt, Total Debt, Interest Expense, Consolidated Total Assets and other such financial terms shall be deemed to refer to such items, unless otherwise expressly provided herein, on a consolidated basis for the Borrower and its Subsidiaries. Notwithstanding the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the financial statements of the Borrower for the fiscal year ended December 31, 2018 for all purposes, notwithstanding any change in GAAP relating thereto, including with respect to Accounting Standards Codification 842.

  • Governing Agreement The Assigned Transaction and the Confirmation shall form a part of, and be subject to, the ISDA Master Agreement dated as of September 29, 2006, as amended or supplemented from time to time (the "New Master Agreement"), between Assignee and Remaining Party. The Confirmation shall form a part of, and be subject to, the New Master Agreement.

  • Joint Operating Agreement (JOA) Within six (6) months from the Effective Date, the Participants shall enter into the Joint Operating Agreement which shall embody the principles stipulated in this JOA Heads of Agreement and it may include such other provisions as customarily used by international petroleum industry and shall continue in effect as long as the Contract is in effect. (End of Addendum One)

  • Operating Agreement You haves received and read a copy of the Company’s Operating Agreement (the “Operating Agreement”) and agree that your execution of this Agreement constitutes your consent to and execution of the Operating Agreement, and, that upon acceptance of this Agreement by the Company, you will become a member of the Company as a holder of Shares. When this Agreement is countersigned by the Company, the Operating Agreement shall be binding upon you as of the closing date.

  • Definitions and Accounting Matters Section 1.01 Terms Defined Above 1 Section 1.02 Certain Defined Terms 1 Section 1.03 Types of Loans and Borrowings 20 Section 1.04 Terms Generally; Rules of Construction 20 Section 1.05 Accounting Terms and Determinations; GAAP 21

  • Governing Provisions This Agreement is made under and subject to the provisions of the Plan, and all of the provisions of the Plan are also provisions of this Agreement. If there is a difference or conflict between the provisions of this Agreement and the provisions of the Plan, the provisions of the Plan will govern. By signing this Agreement, the Grantee confirms that he or she has received a copy of the Plan.

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