INTEREST EARNED. A. If Subrecipient earns interest on funds received pursuant to this Contract, that interest shall be identified as income to the program(s) for which this Contract provides and shall be used and expended only for said program(s). Subrecipient shall maintain in its files full documentation of such interest earnings and expenditures.
INTEREST EARNED. The Employer acknowledges and understands that from time to time Businessolver, as the Custodian, may receive interest earned on the funds held in the Custodial Account and that any such interest shall be part of Businessolver’s compensation. The Employer acknowledges and understands that fees otherwise charged by Businessolver for Plan Administrative Services under this Schedule F would be greater if Businessolver did not retain such interest on these funds. The period during which interest may be earned begins on the date on which the funds are deposited in the Custodial Account and ends when this Schedule F terminates. Funds shall be disbursed on a first-in, first-out basis.
INTEREST EARNED. The Agreement sets out the requirements on Interest Earned. If the Recipient fails to identify interest earned in the Estimate of Expenditure Report EER(s) and the Statement of Revenue and Expenditure Report (SRER), then the following applies:
INTEREST EARNED. Subject to Article 3.00 of the Farmout & Royalty Procedure and Clause 4 herein and provided Farmee is not in default under this Agreement, Farmee will earn 100% of the Farmor’s Pre-Farmout Working Interests in four (4) sections of the Farmout Lands from surface to base of the deepest formation fully penetrated and evaluated, subject to the Overriding Royalty reserved by Farmor under the Farmout & Royalty Procedure. The said four (4) sections shall be selected with fourteen (14) days of rig release of the Test Well, which selection must conform to the Department of Energy Regulations governing lease selection from a PNG License.
INTEREST EARNED. Interest shall be earned in direct proportion to the share of the principal owned by Seller and Purchaser, except that interest earned by Purchaser shall be calculated from date of disbursement.
INTEREST EARNED. Pursuant to Clauses 3 and 4, Farmor shall hold in trust for Farmee, and Farmee shall have the right to earn a four and a three-quarter percent (4.75%) Working Interest in the Farmout Lands, upon Farmee providing to Farmor the said geological study.
INTEREST EARNED. 3.1 If a Participant participates in and pays its respective Cost Share (as set forth in the table in Section 1.1.1 above) of all Operations relevant to a particular Lease, delivers appropriate Options and/or Discovery Shares to Ridgelake and/or its designee(s) in accordance with Article II above and if such Participant has paid its respective Cost Share of all Sunk Costs and Lease Expenses relevant to the Leases, then such Participant shall earn an undivided working interest in the Lease upon which such Operations have been conducted equal to its respective “Earning Share,” as set forth in the table in Section 1.1.1 above.
INTEREST EARNED. Provided the Farmee has advanced the Development Funds and otherwise completed its obligations under paragraph 2 hereof, the Farmee shall, subject to Article 3.00 of the Farmout and Royalty Procedure, have earned 66.67% (the “Earned Interest”) of the Farmor’s working interest in the Farmin Lands.
INTEREST EARNED. Funds received from Advanced Technology International shall be maintained in an interest-bearing account separate from Recipient’s general or other funds until disbursed to Project Participants. This account shall not be in U.S. Treasury Notes. Any interest earned shall be remitted annually to the Advanced Technology International Accounting Office: Attn: Treasury Management 000 Xxxxx Xxxxx Xxxxxxxxxxx, XX 00000 Limitation of Funds: In no case shall Advanced Technology International’s financial liability exceed the amount obligated under this Agreement.