Division in Kind. Division of material in kind, if made between Operator and Non-Operator, shall be in proportion to their respective interests in such material. Each party will thereupon be charged individually with the value of the material received or receivable by each party and corresponding credits will be made by the Operator to the joint account, and such credits shall appear in the monthly statement of operations.
Appears in 3 contracts
Samples: Agreement (Eflo Energy, Inc.), Agreement (Canada Southern Petroleum LTD), Agreement (Magellan Petroleum Corp /De/)
Division in Kind. Division of material Material in kind, if made between Operator and Non-OperatorOperators, shall be in proportion to their the respective interests in such materialMaterial. Each party The Parties will thereupon be charged individually with the value of the material Material received or receivable by each party and corresponding receivable. Proper credits will shall be made by the Operator to the joint account, and such credits shall appear in the monthly statement of operations.
Appears in 2 contracts
Samples: Operating Agreement (Enterprise Products Partners L P), Agreement (Unimar Co)
Division in Kind. Division of material Material and Equipment in kind, if made between among the Operator and the Non-Operator, Operators shall be in proportion to their respective interests interest in such materialMaterial and Equipment. Each party Participant will thereupon therefore be charged individually with the value of the material Material and Equipment received or receivable by each party such Participant, and corresponding credits will be made by the Operator to the joint account, and such credits shall appear in the monthly statement of operationsJoint Account.
Appears in 2 contracts
Samples: Joint Venture Agreement (Mountain Province Diamonds Inc.), Joint Venture Agreement (Mountain Province Diamonds Inc.)
Division in Kind. Division of material Material in kind, if made between Operator and Non-OperatorOperators, shall be in proportion to their the respective interests in such materialMaterial. Each party The Parties will thereupon be charged individually with the value of the material Material received or receivable by each party and corresponding receivable. Proper credits will shall be made by the Operator to the joint account, and such credits shall appear in the monthly statement of operationsJoint Account.
Appears in 2 contracts
Samples: Unit Agreement (Resaca Exploitation, Inc.), Unit Agreement (Resaca Exploitation, Inc.)
Division in Kind. Division of material in kind, if made between the Operator and the Non-Operator, Operators shall be in proportion to their respective interests in such material. Each party Party will thereupon be charged individually with the value of the material received or receivable by each party Party, and the corresponding credits will be made by the Operator to the joint account, and such Joint Account. Such credits shall appear in the monthly statement of operations.
Appears in 1 contract
Samples: Valley Operating Agreement (Magellan Petroleum Corp /De/)
Division in Kind. Division of material Material in kind, if made between Operator and Non-OperatorOperators, shall be in proportion to their respective interests in such materialMaterial. Each party will Party shall thereupon be charged individually with its share of the agreed value of the material Material received or receivable by each party Party, and corresponding credits will shall be made by the Operator to the joint account, and such Joint Account. Such credits shall appear in the monthly statement of operationsJoint Operations.
Appears in 1 contract
Samples: Joint Operating Agreement (Geoglobal Resources Inc.)
Division in Kind. Division of material Material in kind, if made between Operator and Non-Operator, shall be in proportion to their the respective interests in such materialMaterial. Each party The parties will thereupon be charged individually with the value of the material Material received or receivable by each party and corresponding receivable. Proper credits will shall be made by the Operator to the joint account, and such credits shall appear in the monthly statement of operationsNon-Operator.
Appears in 1 contract
