Export Profit Oil and Cost Oil Sample Clauses

Export Profit Oil and Cost Oil. In accordance with the Petroleum Law of 1990, and subject to the provisions of Article 19, Contractor shall be entitled to freely export all of its share of Cost Oil and Profit Oil from Suriname and sell, assign or otherwise transfer such Crude Oil in or outside Suriname, and record and retain in Foreign Currency Accounts, all sales proceeds as income without restriction. With the exception of the statistics and consent duties, no further export duty, stamp duty, or other provision fee or tax will be levied against Contractor or due in connection with the export of Crude Oil.
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Export Profit Oil and Cost Oil. In accordance with the Petroleum Law of 1990, and subject to the provisions of Article 19, Contractor shall be entitled to freely (a) export all of its share of Cost Oil and Profit Oil from Suriname and sell, assign or otherwise transfer such Crude Oil in or outside Suriname, and record and retain in foreign currency accounts, all sales proceeds as income without restriction and (b) receive revenues from Cost Oil and Profit Oil into Foreign Currency Accounts. Contractor shall not be obligated to remit or repatriate such proceeds to Suriname with the exception of those proceeds, at Contractor’s option, as may be needed to meet Contractor’s expenses in Suriname. With the exception of the statistics and consent duties pursuant to State Decree of 4 May 2005 Official Gazette of the Republic of Suriname 2005 No 52, no further export duty, stamp duty, or other provision fee or Tax will be levied against Contractor or due in connection with the export of Crude Oil.

Related to Export Profit Oil and Cost Oil

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  • Unallowable Costs Costs that are unallowable under other sections of these principles shall not be allowable under this section solely on the basis that they constitute personnel compensation.

  • Allowable Costs Allowable Costs are restricted to costs that comply with the Texas Uniform Grant Management Standards (UGMS) and applicable state and federal rules and law. The Parties agree that all the requirements of the UGMS apply to this Contract, including the criteria for Allowable Costs. Additional federal requirements apply if this Contract is funded, in whole or in part, with federal funds.

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  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

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