in 1997 Sample Clauses

in 1997. On April 29, 1996, Southmark Corporation, Pioneer USA and the Partnership entered into a final $7.4 million settlement agreement with Jack N. Price resolving all outstanding litigation between the parties. As a result, all of the pending lawsuits and judgments have been dismissed, the supersedeas bond released, and the Reserve released as collateral. On June 28, 1996, a final distribution was made to the working interest owners of $32,694 which included $32,367, or $3.37 per limited partnership interest, to the Partnership and its partners. Total costs and expenses increased in 1997 to $712,497 as compared to $446,635 in 1996, an increase of $265,862, or 60%. The increase was primarily due to the impairment of oil and gas properties and an increase in depletion, offset by lower production cost and G&A. Production costs were $304,651 in 1997 and $320,643 in 1996, resulting in a $15,992 decrease, or 5%. The decrease was due to a reduction in well maintenance costs and a decrease in production taxes. During this period, G&A decreased, in aggregate, 8% from $18,955 in 1996 to $17,403 in 1997. The Partnership paid the managing general partner $14,081 in 1997 and $16,083 in 1996 for G&A incurred on behalf of the Partnership. The Partnership recognized a non-cash SFAS 121 impairment provision of $270,187 related to its proved oil and gas properties during the fourth quarter of 1997. Depletion was $120,256 in 1997 compared to $105,185 in 1996. This represented an increase of $15,071, or 14%. This increase was primarily attributable to the decrease in oil reserves during 1997 as a result of lower commodity prices, offset by a decline in oil production of 2,136 barrels for 1997 as compared to 1996. A loss on disposition of assets of $1,852 was recognized during 1996. This loss resulted from the sale of four fully depleted oil and gas wells and four saltwater disposal wells and the write-off of associated capitalized well costs of $3,769, offset by a $1,917 receivable due from the sale for post-closing adjustments. IMPACT OF INFLATION AND CHANGING PRICES ON SALES AND NET INCOME
Sample 1
AutoNDA by SimpleDocs

Related to in 1997

  • xxx/Xxxxxx/XXXXX- 19_School_Manual_FINAL pdf -page 101-102 We will continue to use the guidelines reflected in the COVID-19 school manual.

  • SHOP XXXXXXX (a) The Union may elect or appoint a Shop Xxxxxxx or Shop Stewards to represent the employees and the Union shall notify the Company as to the name or names of such Shop Xxxxxxx or Shop Stewards. The Company agrees that no Shop Xxxxxxx shall suffer any discrimination by reason of holding such office.

  • Xxxxxxxx-Xxxxx Act of 2002 Notwithstanding anything herein to the contrary, if the Company determines, in its good faith judgment, that any transfer or deemed transfer of funds hereunder is likely to be construed as a personal loan prohibited by Section 13(k) of the Exchange Act and the rules and regulations promulgated thereunder, then such transfer or deemed transfer shall not be made to the extent necessary or appropriate so as not to violate the Exchange Act and the rules and regulations promulgated thereunder.

  • TFEU The Board of Governors shall approve the application for accession of the new ESM Member and the detailed technical terms related thereto, as well as the adaptations to be made to this Treaty as a direct consequence of the accession. Following the approval of the application for membership by the Board of Governors, new ESM Members shall accede upon the deposit of the instruments of accession with the Depositary, who shall notify other ESM Members thereof.

  • CFR 164 504(e)(2)(ii)(G)

  • Sxxxxxxx-Xxxxx Act There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply with any provision of the Sxxxxxxx-Xxxxx Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sxxxxxxx-Xxxxx Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications.

  • JOB XXXXXXX (a) There shall be a Xxxxxxx on each job at all times, who shall be a Union Member in good standing, and shall be appointed by the Business Representative, from amongst the Employees on the job. The Union shall notify the Employer, in writing, who their Xxxxxxx is. If the Employer disapproves of the said appointed Xxxxxxx, they shall immediately notify the Union, in writing, stating the reasons for their disapproval. If their reasons are acceptable to the Union, a new Xxxxxxx will be appointed immediately. If not acceptable, the Union and the Employer will meet to discuss the reasons for disapproval, and if necessary, grievance procedure will be followed. The Xxxxxxx shall keep a record of members hired, laid-off, and discharged, and shall take up all grievances on the job, and try to have same adjusted. In the event he/she cannot adjust them, he/she must promptly report that fact to the Business Representatives of the Union, so STEP 2 of the Grievance Procedure can be followed through. He/She shall see that the provisions of this Agreement are complied with and report the true conditions and facts. It is recognized as the Employer’s responsibility to make whatever provisions are necessary for the care of injured worker. It shall be the duty of the Xxxxxxx to see that the Employer fulfils its obligation. The Employer agrees that when Employees are laid-off, all things being equal, the Xxxxxxx will be one of the last employees laid-off. The Employer further agrees that the Xxxxxxx will not be transferred to another jobsite unless mutually agreed by the Employer Representative and the Union Representative. The Union agrees that the Xxxxxxx shall not be changed without prior notification to the Employer.

  • General Xxxxxxx 9B.01 When a general xxxxxxx is appointed by the employer and/or as required by the collective agreement, they will be paid a minimum premium of fifteen percent (15%) of base rate and holiday and vacation allowance.

  • Right to Have Xxxxxxx Present (a) An employee shall have the right to have their xxxxxxx present at any discussion with supervisory personnel which the employee believes might be the basis of disciplinary action. Where a supervisor intends to interview an employee for disciplinary purposes, the supervisor shall make every effort to notify the employee in advance of the purpose of the interview in order that the employee may contact their xxxxxxx, providing that this does not result in an undue delay of the appropriate action being taken. This clause shall not apply to those discussions that are of an operational nature and do not involve disciplinary action.

  • Name of Xxxxx(s) 2. The named person's role in the firm, and

Time is Money Join Law Insider Premium to draft better contracts faster.