PROGRAMS AND BUDGETS; ACCOUNTING AND REPORTING Clause Samples

PROGRAMS AND BUDGETS; ACCOUNTING AND REPORTING. 29 6.1 Initial Program and Budget 29 6.2 Operations Under Programs and Budgets 29 6.3 Presentation of Proposed Programs and Budgets 29 6.4 Approval of Proposed Programs and Budgets 30 6.5 Amendments 30 6.6 Election to Participate 31 6.7 Recalculation and Restoration for Actual Contributions 32

PROGRAMS AND BUDGETS; ACCOUNTING AND REPORTING. 1Operations under Programs and Budgets. All Operations will be conducted, expenses will be incurred, and Assets will be acquired consistent with adopted Programs and Budgets. Each Program and Budget will provide for (a) accrual of reasonably anticipated Environmental Compliance expenses for all Operations contemplated under the Program and Budget, and (b) payment of all obligations of the Company under the Underlying Agreements.

PROGRAMS AND BUDGETS; ACCOUNTING AND REPORTING. 6.1 Operations under Programs and Budgets 25 6.2 Initial Program and Budget 25 6.3 Presentation of Proposed Programs and Budgets 25

PROGRAMS AND BUDGETS; ACCOUNTING AND REPORTING. 6.1 Current Program and Budget. The current Program and Budget, which has been adopted by the Management Committee, is attached as Exhibit F. Any Amendment to the current Program and Budget shall require the unanimous approval of the Management Committee.

PROGRAMS AND BUDGETS; ACCOUNTING AND REPORTING