Contract CBM definition

Contract CBM means CBM which is produced and saved from the Contract Area pursuant to this Contract; and for purpose of this definition, "produced" means caused or allowed to rise to the surface and to pass through Production Sharing Measurement facilities, and "saved" means made available to be taken and disposed of by a party hereto and not:
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Examples of Contract CBM in a sentence

  • When that occurs, full production may be continued for the benefit of the other party (such party being called an "Overlifter" herein) and the Contractor shall maintain records to indicate the quantity of Contract CBM which the Underlifter may make up in order to be in correct balance with the Overlifter.

  • The Contractor shall pay the Royalty based upon the price of the Contract CBM for each Calendar Quarter.

  • Transportation costs shall be agreed by Government Representative and Contractor with respect to the international rates and shall be included to the Contract CBM price.

  • It is recognized that any party hereto may, from time to time, fail to take the full quantity of Contract CBM to which such party is entitled (such party being called an "Underlifter" herein).

  • The Underlifter shall be compensated extra quantities of Contract CBM in order to achieve such balance as soon as practicable; provided, however, that the Contractor shall make such allocations in such ways so as not to unduly interfere with orderly operations for production and sales.

  • The quantity of Cost CBM which the Contractor shall have the right to take and dispose of in any Calendar Month shall be equal to that quantity of Contract CBM which has a value equal to the aggregate of all CBM Costs incurred by the Contractor and allowed to be recovered pursuant to this Contract; provided, however, that the Contractor shall be entitled to take Cost CBM not exceeding 40 percent of all Contract CBM for any Calendar Month.

  • If Contract CBM is allocated to more than one well or discovery for any purpose, the Contractor shall make such allocations by methods generally used in the international CBM industry.

  • If average daily quantity of Contract CBM for any Calendar Month equals to or exceeds 4.000.001 m3: Government of Mongolia 40 % Contractor 60 % If the balance of unrecovered CBM Costs is less then the forty (40) percent of the total quantity of Contract CBM, such the difference between the forty (40) percent of the total quantity of Contract CBM and the balance of unrecovered CBM Costs shall be calculated as a Production Sharing CBM.

Related to Contract CBM

  • Contract carrier means any person who, under special and individual contracts or agreements, and

  • Contract Player means any Player (other than a Player on a Scholarship) who is eligible to play under a written contract of employment with a Club.

  • Lead contractor means a person who has met the Board's requirements and has been issued a

  • Contractor / Vendor means the Tenderer whose bid has been accepted and awarded Letter of Acceptance for a specific item followed by the signing of Contract.

  • Supplier/Contractor means the individual, firm or company with whom the contract has been concluded for supplying the Goods and Services under the Contract. The Supplier/Contractor shall be deemed to include its successors (approved by the purchaser), representatives, heirs, executors, administrators and permitted;