After Payout Sample Clauses

After Payout. Upon Payout, the Sharing Ratio of TransCoastal shall be increased to 50% and the Sharing Ratio of Core shall be decreased to 50%.
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After Payout. At that point in time when one hundred percent (100%) of the development and operating costs expended to establish and maintain production from the Overriding Royalty Depth and/or the Overriding Royalty Surface Acreage are recovered by the party paying such costs, then the Overriding Royalty Interest determined under Section 5.01(a) above shall automatically be adjusted to an Overriding Royalty Interest equal to (i) twelve and one-half percent (12.5%) of 8/8ths, (ii) multiplied by the Fixed Percentage, then (iii) multiplied by the percentage working interest of Operating Partnership in that Lease. That is to say, if it is assumed as in the example above that Operating Partnership owns sixty percent (60%) of the working interest which is fully subject to Pension Partnership's Net Profits Interest, and if it is assumed that the Fixed Percentage is fifty percent (50%), then Pension Partnership's Overriding Royalty Interest converts to three and three-quarters percent (3.75%), i.e., twelve and one-half percent (12.5%) of 8/8ths multiplied by fifty percent (50%) (the Fixed Percentage) multiplied by sixty percent (60%) (the Operating Partnership's working interest). The resultant Overriding Royalty Interest calculated under (a) or (b) above shall be reduced or increased proportionately to reflect any sliding scale or reversionary overriding royalty, working interest or similar arrangements contained in the Leases or Subject Interests covering the Overriding Royalty Depth or Overriding Royalty Surface Acreage or contained in any other document as to which such Leases or Subject Interests are made subject as of the date of acquisition.
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After Payout. (i) Lessor shall have the option of continuing to receive the royalty provided in Article 4.1(a) above or four-tenths (4/10) of the Net Profits.
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After Payout. After Payout, the matters requiring approval of the Working Interest Owners shall include the following:
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After Payout. (a) For each taxable year (or portion thereof) after Payout items of income, gain, loss and deduction of the Partnership shall be allocated to the Partners as follows:
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After Payout. ATLAS and SUMMIT shall separately pay Royalties and Petroleum Profits Tax on the share of Hydrocarbons actually received by each Party.
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After Payout. Seventy-nine percent (79%) to the Investor Partners and Unit Holders (and ratably among them based upon the number of Units held) and twenty-one percent (21%) to the Managing General Partner.
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After Payout. Cost Oil Tax Oil Profit Oil -------- ------- ---------- Technical Partner 0% 0% 30% -------- ------- ---------- Owner/Operator 0% 0% 40% -------- ------- ---------- Government 0% 30% 0% -------- ------- ----------
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Related to After Payout

  • Salary Overpayment Recovery A. When the Employer has determined that an employee has been overpaid wages, the Employer will provide written notice, via certified mail, to the employee that will include the following items:

  • Gross Income Allocations In the event any Partner has a deficit balance in its Capital Account at the end of any Partnership taxable period in excess of the sum of (A) the amount such Partner is required to restore pursuant to the provisions of this Agreement and (B) the amount such Partner is deemed obligated to restore pursuant to Treasury Regulation Sections 1.704-2(g) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 6.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Capital Account as adjusted after all other allocations provided for in this Section 6.1 have been tentatively made as if this Section 6.1(d)(v) were not in this Agreement.

  • Economic Benefit The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04.

  • Cash Balances Uninvested cash balances in my Account will be automatically swept into the Xxxxxx Xxxxx Money Market Fund according to my previous elections and authorizations relating to the treatment of cash balances. I understand and agree that the Xxxxxx Xxxxx Money Market Fund is offered by an Xxxxxx Xxxxx affiliate and, as a result, Xxxxxx Xxxxx has a financial incentive to select the Xxxxxx Xxxxx Money Market Fund as the available cash option, instead of a third-party cash product.

  • Gross Income Allocation If any Partner has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Partner is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall be specially allocated items of Partnership income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Partner would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • FORFEITURE ALLOCATION Subject to any restoration allocation required under Sections 5.04 or 9.14, the Advisory Committee will allocate a Participant forfeiture in accordance with Section 3.04: (Choose (a) or (b); (c) and (d) are optional in addition to (a) or (b))

  • Account Balance The Servicer must never allow any Custodial T&I Account to become overdrawn as to any individual related Borrower. If there are insufficient funds in the account, the Servicer must advance its own funds to cure the overdraft.

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