Cash Settlements Sample Clauses
Cash Settlements. 7.1 Upon the earlier of the plugging and abandonment of the last producing interval in the Balancing Area, the termination of the Operating Agreement or any pooling or unit agreement covering the Balancing Area, or at any time no Gas is taken from the Balancing Area for a period of twelve (12) consecutive months, any Party may give written notice calling for cash settlement of the Gas production imbalances among the Parties. Such notice shall be given to all Parties in the Balancing Area.
7.2 Within sixty (60) days after the notice calling for cash settlement under Section 7.1, the Operator will distribute to each Party a Final Gas Settlement Statement detailing the quantity of Overproduction owed by each Overproduced Party to each Underproduced Party pursuant to the methodology set out in Section 7.4.
7.3 Within sixty (60) days after receipt of the Final Gas Settlement Statement, each Overproduced Party will pay to each Underproduced Party entitled to settlement the appropriate cash settlement, accompanied by appropriate accounting detail. At the time of payment, the Overproduced Party will notify the Operator of the Gas imbalance settled by the Overproduced Party’s payment.
7.4 The amount of the cash settlement will be based on the proceeds received by the Overproduced Party under an Arm’s Length Agreement for the volume of Gas that constituted Overproduction by the Overproduced Party from the Balancing Area. For the purpose of implementing the cash settlement provision of the Section 7, an Overproduced Party will not be considered to have produced any of an Underproduced Party’s share of Gas until the Overproduced Party has produced cumulatively all of its Percentage Interest share of the Gas ultimately produced from the Balancing Area.
7.5 The values used for calculating the cash settlement under Section 7.4 will include all proceeds received for the sale of the Gas by the Overproduced Party calculated at the Balancing Area, after deducting any production or severance taxes paid and any Royalty actually paid by the Overproduced Party to an Underproduced Party’s Royalty owner(s), to the extent said payments amounted to a discharge of said Underproduced Party’s Royalty obligation, as well as any reasonable marketing, compression, treating, gathering or transportation costs incurred directly in connection with the sale of the Overproduction.
7.5.1 For Overproduction sold under a gas purchase contract providing for payment based on a percentage of the proc...
Cash Settlements. EXICO / Austraclear is the settlement system used for the settlement of all securities.
Cash Settlements. 7.1. Upon the earlier of the plugging and abandonment of the last producing interval in the Balancing Area, the termination of the Operating Agreement or any pooling or unit agreement covering the Balancing Area, or at any time no Gas is taken from the Balancing Area for a period of twelve (12) consecutive months, any Party may give written notice calling for cash settlement of the Gas production imbalances among the Parties. Such notice shall be given to all Parties in the Balancing Area.
7.2. Within sixty (60) days after the notice calling for cash settlement under Section 7.1., the Operator will distribute to each Party a Final Gas Settlement Statement detailing the quantity of Overproduction owed by each Overproduced Party to each Underproduced Party and identifying the month to which such Overproduction is attributed, pursuant to the methodology set out in Section 7.4.
7.3. Within sixty (60) days after receipt of the Final Gas Settlement Statement, each Overproduced Party will pay to each Underproduced Party entitled to settlement the appropriate cash settlement, accompanied by appropriate accounting detail. At the time of payment, the Overproduced Party will notify the Operator of the Gas imbalance settled by the Overproduced Party's payment.
7.4. The amount of the cash settlement will be based on the proceeds received by the Overproduced Party under an Arm's Length Agreement for the Gas taken from time to time by the Overproduced Party in excess of the Overproduced Party's
Cash Settlements. Notwithstanding anything herein to the contrary, whenever Shares would otherwise be distributable in respect of Restricted Units, the Administrator, in its sole discretion, may settle all or any portion of those Restricted Units in cash equal to the Fair Market Value of the Shares that would otherwise have been distributable.
Cash Settlements. On each Settlement Date:
a. The Ceding Company shall pay to the Reinsurer: i. the net amount of premiums as defined in Section 5.02;
b. Simultaneously, the Reinsurer shall pay to the Ceding Company: i. the net paid Reinsured Liabilities as defined in Section 5.04; and ii. the net Commissions as defined in Section 5.03; and iii. the expense and administration allowance as defined in Section 5.06.
Cash Settlements. If, upon the termination of this Agreement, EMPLOYEE receives any cash settlement from the CITY related to that termination, the EMPLOYEE shall fully reimburse the CITY the amount of said cash settlement if the EMPLOYEE is convicted of a crime involving an abuse of his office of City Manager. Said reimbursement shall be paid to the CITY within thirty (30) days after said conviction becomes final and is no longer subject to any appeal.
Cash Settlements. Commencing with the Effective Date, and as relates to the Traditional Insurance Business subject to this Pooling Agreement:
A. MMIC hereby agrees to pay to MNH the MNH Pooling Percentage of the net written premiums collected by the parties hereto, less the Applicable Ceding Commission.
B. MNH hereby agrees to pay to MMIC the MNH Pooling Percentage of all net losses, after deducting salvage and subrogation, allocated LAE, unallocated LAE as set forth in Section VI, and policyholder dividends paid by the parties hereto. Accounts reflecting the net balance from A and B in this Section XI shall be rendered monthly and shall be settled within thirty (30) days after the end of the month.
Cash Settlements any 7.1 Upon the earlier of the plugging and abandonment of / producing interval in the Balancing Area, the termination of the Operating Agreement or any pooling or unit agreement covering the Balancing Area, or at any time no Gas is taken from the Balancing Area for a period of twelve (12) consecutive months, any Party may give written notice calling for cash settlement of the Gas production imbalances among the Parties. Such notice shall be given to all Parties in the Balancing Area.
Cash Settlements. No Credit Party may enter into any cash settlement in any of the litigation set forth in Part A of Schedule 1.1F, or any other litigation or dispute not listed on Schedule 1.1F arising out of the same or similar facts and circumstances, if the aggregate amount of all such cash settlements would exceed $5,000,000 during any Fiscal Year or $10,000,000 during the period from the Closing Date through and including the Termination Date; provided that no cash settlement payments may be made unless ▇▇▇▇▇▇▇▇'▇ notifies the Collateral Agent that ▇▇▇▇▇▇▇▇'▇ has satisfied the covenants set forth in Section 7.11 that are to be tested as of January 1, 2005, or any Default or Event of Default arising from any failure to satisfy such covenant is waived in writing.
Cash Settlements. All settlements of account between PIC and Cumis shall be made in cash or its equivalent. [TOWERS ▇▇▇▇▇▇ REINSURANCE LOGO]