PURPOSE AND QUANTITIES Sample Clauses

PURPOSE AND QUANTITIES. THE BUYER agrees to acquire up to one hundred per cent (100%) of the crude oil owned by THE SELLER and produced in the Fields, and THE SELLER, on its part, commits to sell and deliver up to one hundred per cent (100%) of the crude oil owned by it, produced in the Fields, according to the provisions of the Tenth clause – Deliveries’ program of the General Conditions. This Agreement does not include the volume of crude oil the subject of the royalties.
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PURPOSE AND QUANTITIES. BUYER undertakes to purchase up to one hundred percent (100%) of the crude oil owned by SELLER produced under the Xxxxxxx Shared-Risk Contract (CPR-Xxxxxxx), the Guayuyaco Association Contract, and the Chaza E & P owned by SELLER and SELLER in turn undertakes to sell and deliver up to one hundred percent (100%) of its crude, produced under such contracts. This Agreement does not include the volume of crude for the concept of royalties.
Sample 1
PURPOSE AND QUANTITIES. The BUYER undertakes to acquire up to one hundred percent (100%) of the crude owned by the SELLER produced in the Xxxxxxx Shared Risk Contract (CPR-Xxxxxxx), the Guayuyaco Association Contract and the Chaza E&P Contract owned by the SELLER and the latter, on its part, undertakes to sell and deliver up to one hundred percent (100%) of its crude produced in the aforementioned contracts. This Contract excludes the crude of volume derived from royalties. For the purposes of this Contract, one barrel is equivalent to one hundred fifty eight thousand nine hundred and eighty-eight (158,988) liters. PARAGRAPH ONE: CRUDE OIL DESTINATION The BUYER shall use the crude oil acquired at the Tumaco Station for the export, through the Tumaco port, the crude acquired in Orito, for the export through Ecuador, and the crude oil received at the Xxxx Station for the export through the Coveñas Port or for PLANNING AND SUPPLY MANAGEMENT Contract VSM-GPS-050-2012 Refining purposes. The BUYER may also: i) use the crude oil hereunder for the export through other ports and / or ii) for refining purposes by notifying the SELLER in writing.
Sample 1
PURPOSE AND QUANTITIES. The BUYER undertakes to acquire up to one hundred percent (100%) of the crude owned by the SELLER produced in the Guayuyaco Association Contract and the Chaza E&P Contract owned by the SELLER and the latter, on its part, undertakes to sell and deliver up to one hundred percent (100%) of its crude produced in the aforementioned contracts. This Contract excludes the crude of volume derived from royalties. For the purposes of this Contract, one barrel is equivalent to one hundred fifty eight thousand nine hundred and eighty-eight (158,988) liters. PARAGRAPH ONE: CRUDE OIL DESTINATION The BUYER shall use the crude oil acquired at the Tumaco Station for the export, through the Tumaco port, the crude acquired in Orito for the export through Ecuador, and the crude oil received at the Xxxx Station for the export through the Coveñas Port or for Refining purposes. The BUYER may also: i) use the crude oil hereunder for the export through other ports and / or ii) for refining purposes by notifying the SELLER in writing.
Sample 1
PURPOSE AND QUANTITIES. THE SELLER is hereby bound to sell and deliver to THE BUYER and THE BUYER is bound to receive and pay for, in the conditions provided herein, the oil corresponding to the Fields, corresponding to the share it owns, as follows: Alcaravan Association Contract, Sole Risk Modality: - Production equivalent to 100% after royalties. Alcaravan Association Contract, Cajaro Commercial Area: - Production equivalent to 50% after royalties Rio Verde Exploration and Exploitation Association Contract: - Production equivalent to 100% after royalties. Bolívar Association Contract, Sole Risk Modality: - Production equivalent to 100% after royalties. Bocachico Association Contract, Sole Risk Modality: - Production equivalent to 100% after royalties.
Sample 1

Related to PURPOSE AND QUANTITIES

  • ESTIMATED QUANTITIES 1.1 The quantities set forth in the line items and specification document are approximate and represent the estimated requirements for the contract period.

  • Additional Quantities For a period not exceeding ninety (90) days from the date of solicitation award, the Customer reserves the right to acquire additional quantities up to the amount shown on the solicitation but not to exceed the threshold for Category Two at the prices submitted in the response to the solicitation.

  • Number, Tenure and Qualifications The number of managers of the Company shall be not less than one (1) nor more than ten (10), but may be increased by amendment of this LLC Agreement by the Members. Each manager shall hold office for the term of which he is elected or until his successor shall have been elected and qualifies for the office, whichever period is longer. Managers need not be residents of the state of formation nor need they be the holder of any Percentage Ownership of the Company.

  • Number and Qualifications The number of Managers of the Company shall not be less than three nor more than five, as may be determined by the Member from time to time, but no decrease in the number of Managers shall have the effect of shortening the term of any incumbent Manager.

  • Existence and Qualification; Power; Compliance With Laws Borrower is a corporation duly formed, validly existing and in good standing under the Laws of the State of California. Borrower is duly qualified or registered to transact business and is in good standing in the State of California, and each other jurisdiction in which the conduct of its business or the ownership or leasing of its Properties makes such qualification or registration necessary, except where the failure so to qualify or register and to be in good standing could not reasonably be expected to have a Material Adverse Effect. Borrower has all requisite power and authority to conduct its business, to own and lease its Properties and to execute and deliver each Loan Document to which it is a Party and to perform its Obligations. The chief executive offices of Borrower are located in San Dimas, California. All outstanding capital stock of Borrower is duly authorized, validly issued, fully paid and non-assessable, and no holder thereof has any enforceable right of rescission under any applicable state or federal securities or other Laws. Borrower is in compliance with all Laws and other legal requirements applicable to its business, has obtained all authorizations, consents, approvals, orders, licenses and permits from, and has accomplished all filings, registrations and qualifications with, or obtained exemptions from any of the foregoing from, any Governmental Agency that are necessary for the transaction of its business, except where the failure so to comply with Laws and other legal requirements applicable to its business, obtain authorizations, etc., file, register, qualify or obtain exemptions could not reasonably be expected to have a Material Adverse Effect.

  • Number and Qualification Prior to a public offering of Shares there may be a sole Trustee. Thereafter, the number of Trustees shall be determined by a written instrument signed by a majority of the Trustees then in office, provided that the number of Trustees shall be no less than two or more than nine. No reduction in the number of Trustees shall have the effect of removing any Trustee from office prior to the expiration of his term. An individual nominated as a Trustee shall be at least 21 years of age and not older than 80 years of age at the time of nomination and not under legal disability. Trustees need not own Shares and may succeed themselves in office.

  • Formation and Qualification (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto.

  • Organization, Standing and Qualification (a) FTN Financial Capital Markets is a division of First Tennessee Bank National Association, a national banking association duly organized, validly existing and in good standing under the laws of the United States, with full power and authority to own, lease and operate its properties and conduct its business as currently being conducted. FTN Financial Capital Markets is duly qualified to transact business as a foreign corporation and is in good standing in each other jurisdiction in which it owns or leases property or conducts its business so as to require such qualification and in which the failure to so qualify would, individually or in the aggregate, have a material adverse effect on the condition (financial or otherwise), earnings, business, prospects or results of operations of FTN Financial Capital Markets.

  • Organization and Qualification The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

  • Organization and Qualifications Customer and each of its Subsidiaries (i) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, (ii) has the power and authority to own its properties and assets and to transact the businesses in which it presently is engaged and (iii) is duly qualified and is authorized to do business and is in good standing in each jurisdiction where it presently is engaged in business and is required to be so qualified.

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