Common use of Uplift Clause in Contracts

Uplift. Uplift is the amount, when compounded quarterly, which is equal to the average for the business Days of the Calendar Quarter of the annual yield on long-term United States Treasury Bonds (thirty- year (30) bonds) plus an annual margin of eleven (11) percentage points. Uplift shall apply to Exploration, Appraisal and Capital Costs only and not to Operating Costs. In the event Contractor withholds any taxes on behalf of its subcontractors, namely in respect of taxes on goods and services or employees’ wages income tax, Contractor shall only be allowed to recover the base tax as Recoverable Costs costs with no Uplift.

Uplift. Uplift is the amount, when compounded quarterly, which is equal to the average for the business Days of the Calendar Quarter of the annual yield on long-term United States Treasury Bonds (thirty- thirty-year (30) bonds) ), plus an annual margin of eleven nine (119) percentage points. Uplift shall apply to Exploration, Appraisal and Capital Costs only and not to Operating Costs. In the event Contractor withholds any taxes on behalf of its subcontractors, namely in respect of taxes on goods and services or employees’ wages income tax, Contractor shall only be allowed to recover the base tax as Recoverable Costs costs with no Uplift.