Periodic Inventories. The Manager shall take physical inventory of Joint Account Material at reasonable intervals in accordance with generally accepted accounting principles but not less than once a year. The non-Manager may be represented when any inventory shall bind the non-Manager to accept the inventory taken by the Manager.
Periodic Inventories. Periodic inventories shall be taken by Operator of the joint account material at reasonable intervals but at least once in every five years which shall include all such material as is ordinarily considered controllable by operators of oil and gas properties.
Periodic Inventories. Notice and Representation. At reasonable intervals and at least annually, inventories will be taken by Operator of all Material held in warehouse stock on which detailed accounting records are normally maintained. The expense of conducting periodic inventories will be charged to the Joint Account. Operator must give Non-Operators Notice at least sixty (60) Days in advance of its intention to take inventory, and Non-Operators, will each be entitled to have a representative present with related expenses to be charged to the Joint Account. The failure of any Non-Operator to be represented at such inventory will bind such Non-Operator to accept the inventory taken by Operator. Operator must in any event furnish each Non-Operator with a reconciliation of overages and shortages. Inventory adjustments to the Joint Account will be made for overages and shortages. Any adjustment equivalent to USD $500,000 or more shall be brought to the attention of the Management Committee.
Periodic Inventories. Notice and Representation At reasonable intervals, inventories shall be taken by Operator, of all Equipment and Materials on which detailed accounting records are normally maintained. The expense of conducting periodic inventories shall be charged to the Project Account. Operator shall give Non-Operators written notice at least thirty (30) Days in advance of its intention to take inventory and Non-Operators, at their sole cost and expense, shall each be entitled to have a representative present. The failure of any Non-Operator to be represented at such inventory shall bind such Non-Operator to accept the inventory taken by Operator, who shall in that event furnish each Non-Operator with a reconciliation of overages and shortages. Inventory adjustments to the Project Account shall be made for overages and shortages. Any adjustment equivalent to US$200,000 or more shall be brought to the attention of the Parties.
Periodic Inventories. Periodic inventories of Material and Equipment which are ordinarily considered controllable shall be taken by the Operator at reasonable intervals but at least annually. Upon request, the Non-Operators may be represented when an inventory is taken.
Periodic Inventories. Periodic inventories of material which is ordinarily considered controllable shall be taken by Operator at reasonable intervals but at least once in every five years.
Periodic Inventories. Notice and Representations-----------------74 5.2 Reconciliation and Adjustment of Inventories---------------------74 EXHIBIT C TAX MATTERS 75 ARTICLE I EFFECT OF THIS EXHIBIT 75 ARTICLE II TAX MATTERS PARTNER 75
Periodic Inventories. At reasonable intervals, but not less than once a year, inventories shall be taken by the Operator, which shall include all such Material as is ordinarily considered controllable by operators of mining properties. A copy of each inventory shall be given to each Member within 30 days of completion.
Periodic Inventories. Notice and Representation At reasonable intervals, inventories shall be taken by Operator of all Material on which detailed accounting records are normally maintained. The expense of conducting periodic inventories shall be charged to the Joint Account in proportion to the respective Interests of the Parties. Operator shall give Non-Operators written notice at least thirty Days (30) in advance of its intention to take inventory, and Non-Operators, at their sole cost and expense, shall each be entitled to have a representative present. The failure of any Non-Operator to be represented at such inventory shall bind such Non-Operator to accept the inventory taken by Operator, who shall in that event furnish each Non-Operator with a reconciliation of overages and shortages. Inventory adjustments to the Joint Account shall be made for overages and shortages in proportion to the respective Interests of the Parties. Any adjustment equivalent to five thousand U.S. Dollars (USD 5,000) or more shall be brought to the attention of the Operating Committee.
Periodic Inventories. Notice and Representations At reasonable intervals inventories shall be taken by the Manager, which shall include all such Material as is ordinarily considered controllable by operators of mining properties and the expense of conducting such periodic inventories shall be charged to the Joint Account. The Manager shall give written notice to the Participants of its intent to take any inventory at least thirty (30) days before such inventory is scheduled to take place. A Participant shall be deemed to have accepted the results of any inventory taken by the Manager if it fails to be represented at such inventory.
