Common use of Operating Profit Clause in Contracts

Operating Profit. 4.1 The Operating Profit will be determined for each Period and will be obtained by subtracting the value that results from the sum of the Contractual Value of Hydrocarbons and other revenues indicated in subsection 8.5 of this Annex 3 in the relevant Month, Recoverable Costs Reimbursement and the Royalties actually paid to the State, in accordance with the following formula: = + − − Where: = Operating Profit in Period . = Additional revenues indicated in subsection 8.5 of this Annex 3. = Contractual Value of the Hydrocarbons in Period . CRt = Recovery of Costs in Period . Rt = Royalties actually paid to the State in Period .