PROFIT OIL SHARING Sample Clauses

PROFIT OIL SHARING. Profit Oil Sharing The Contracting Party and the Contracted Party shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area. The Profit Oil share applicable to the Contracting Party shall vary based on the average Xxxxx Oil price and the average daily Oil Production in the producing xxxxx in the Development Area or Field, according to the table in Annex XII. The oil price shall be the monthly average of the daily prices of Xxxxx Dated, according to the quotation published on a daily basis by Xxxxx’x Crude Oil Marketwire. The volume of Natural Gas produced shall be shared in the same percentage applied to the Oil volume sharing. Xxxxx with restricted Oil Production due to technical and operational issues and which are incurring losses shall not be taken into account in the average calculation, at PPSA’s discretion. The Oil and Gas volume corresponding to the Profit Oil shall be measured and made available according to the guidelines in Annex VII and Section Seventeen.
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PROFIT OIL SHARING. 9.1. The Contracting Party and the Contractor shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area.
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PROFIT OIL SHARING. Profit Oil Sharing
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PROFIT OIL SHARING. Profit Oil Sharing The Contracting Party and the Contracted Party shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area. The Consortium Members shall be entitled to the volume of Oil and Gas produced in the Co-participated Area pursuant to the Share defined in the Co-participation Agreement. The Profit Oil share applicable to the Contracting Party shall vary based on the average Xxxxx Oil price and the average daily Oil Production in the producing xxxxx in the Development Area or Field, according to the table in Annex VI. The oil price shall be the monthly average of the daily prices of Xxxxx Dated, according to the quotation published on a daily basis by Xxxxx’x Crude Oil Marketwire. The volume of Natural Gas produced shall be shared in the same percentage applied to the oil volume sharing. Xxxxx with restricted Oil Production due to technical and operational issues and which are incurring losses shall not be taken into account in the average calculation, at PPSA’s discretion. The Oil and Gas volume corresponding to the Profit Oil shall be measured and made available according to the guidelines in Annex V and Section Thirteen.
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PROFIT OIL SHARING. Profit Oil Sharing The Contracting Party and the Contractor shall share, on a monthly basis, the volume of Oil and Gas corresponding to the Profit Oil produced in the Contract Area. The Consortium Members shall be entitled to the volume of Oil and Gas produced in the Shared Deposit Area in the proportion of the share established in the Production Individualization Agreement. The Profit Oil share applicable to the Contracting Party shall vary based on the average Xxxxx Oil price and the average daily Oil Production in the producing xxxxx in the Development Area or Field, according to the table in Annex XII. The oil price shall be the monthly average of the daily prices of Xxxxx Dated, according to the quotation published on a daily basis by Xxxxx’x Crude Oil Marketwire. The volume of Natural Gas produced shall be shared in the same percentage applied to the Oil volume sharing. Xxxxx with restricted Oil Production due to technical and operational issues and that are presenting losses shall not be taken into account in calculation of the average, at PPSA’s discretion. The Oil and Gas volume corresponding to the Profit Oil shall be measured and made available according to the guidelines of Annex VII and Section Seventeen.
Sample 1

Related to PROFIT OIL SHARING

  • Profit Sharing Profit sharing, bonuses, or other similar compensation of any kind paid by CM/GC to its employees.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • JOB SHARING (a) Job sharing is defined as two permanent employees sharing one full-time position. All job sharing arrangements shall be subject to the approval of the Hospital and the agreement of the Union.

  • Pension All present employees enrolled in the Hospital's pension plan shall maintain their enrolment in the plan subject to its terms and conditions. New employees and employees not yet eligible for membership in the plan shall, as a condition of employment, enroll in the plan when eligible in accordance with its terms and conditions.

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Scholarly Sharing On an ad hoc basis, Authorized Users may transmit to a third party in hard copy or electronically, minimal, insubstantial amounts of the Licensed Materials for personal use or scholarly, educational, or scientific research or professional use in the nature of collaboration, comment, or the scholarly exchange of ideas but in no case for resale or commercial purposes or in a manner that would substitute for direct access to the Licensed Materials via services offered by Licensor.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Defined Benefit Plans The Company has not maintained or contributed to a defined benefit plan as defined in Section 3(35) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). No plan maintained or contributed to by the Company that is subject to ERISA (an “ERISA Plan”) (or any trust created thereunder) has engaged in a “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) that could subject the Company to any material tax penalty on prohibited transactions and that has not adequately been corrected. Each ERISA Plan is in compliance in all material respects with all reporting, disclosure and other requirements of the Code and ERISA as they relate to such ERISA Plan, except for any noncompliance which would not result in the imposition of a material tax or monetary penalty. With respect to each ERISA Plan that is intended to be “qualified” within the meaning of Section 401(a) of the Code, either (i) a determination letter has been issued by the Internal Revenue Service stating that such ERISA Plan and the attendant trust are qualified thereunder, or (ii) the remedial amendment period under Section 401(b) of the Code with respect to the establishment of such ERISA Plan has not ended and a determination letter application will be filed with respect to such ERISA Plan prior to the end of such remedial amendment period. The Company has never completely or partially withdrawn from a “multiemployer plan,” as defined in Section 3(37) of ERISA.

  • Job Sharing / Time Sharing (a) Job sharing shall be interpreted to mean two employees sharing one full- time position (10 shifts bi-weekly).

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

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