Economic Limit definition

Economic Limit means that point in the life of field where expected Revenue to Contractor from Petroleum Operations is insufficient to cover the operating costs to continue Petroleum Operations in accordance with the requirements of the Contract. In this context “Revenue” means the expected revenues derived from the conveyance and sale of Petroleum at the Delivery Point together with any firm tariff income earned by the field facilities, if any;
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Economic Limit means that point in the life of the field where expected revenue to the contractor from upstream petroleum operations is insufficient to cover the operating costs to continue upstream petroleum operations in accordance with the requirements of the contract;
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Economic Limit means that point in the life of field where expected Revenue to Contractor from Petroleum Operations is insufficient to cover the operating costs to continue Petroleum Operations in accordance with the requirements of the Contract. In this context “Revenue” means the expected revenues derived from the conveyance and sale of Petroleum at the Delivery Point together with any firm tariff income earned by the field facilities, if any;
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Examples of Economic Limit in a sentence

  • A significant difference with non-renewable energy Projects is that the economic limit will often not be an appropriate basis for the resource assessment because renewable energy is often replenished at an equal or higher rate than consumed and other Project limitations may become relevant before the Economic Limit is reached.EntitlementThe quantity of Renewable Energy Resource that accrues to a Project’s participant.EvaluatorPerson, or persons, performing resource estimation and/or Classification.

  • ADR is not included in determining the economic producibility or for determining the point the project reaches the economic limit (see Section 3.1.3, Economic Limit).

  • ADR costs are included for project economics but are not included in judging economic producibility or determining the economic limit (see Section 3.1.3, Economic Limit).

  • The forecasted Renewable Energy Resources associated with a Project are constrained by the Economic Limit on Project lifetime.

  • The severance tax rates for oil and gas are reduced by a field's Economic Limit Factor (ELF).

  • Legislative Research Report Number 03.250, The Economic Limit Factor, June 17, 2003.

  • The net repairing cost of individual transformer shall be within the Economic Limit decided by BSES.

  • In the case that Day (d) is the day preceding the Day on which the LNG Auction begins: (a) If on Day (d) the Net User Position for the Transmission Agreement or the Agreement for the Use of an LNG Facility, as applicable, is greater than or equal to zero, the Economic Limit of User Participation for the respective Agreement and for Day (d) shall be the term Gauc LNG (d).

  • Economic Limit: the thresholds set forth in the conditions of this insurance certificate, or relevant plan, and which represent the maximum benefits covered under each insurance certificate.

  • The actual relationship between the State "take" and the pipeline tariff will be slightly different due to factors removed from this simplified example, such as the reduction to severance taxes by the Economic Limit Factor, or ELF.


More Definitions of Economic Limit

Economic Limit means the time when all revenues expected from sales of Liquid Hydrocarbons from a Pool do not permit the Parties to obtain a net profit and a level of return on invested funds which justify the continued Exploitation of that Pool.
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Related to Economic Limit

  • Economic Life means the number of years a property improvement is expected to be in service in a facility.

  • Economic Minimum means the lowest incremental MW output level, submitted to PJM market systems by a Market Participant, that a unit can achieve while following economic dispatch.

  • Economic loss means any of the following types of pecuniary harm:

  • Bag limit means the maximum number of game animals, game

  • Sub-Limit means a cost sharing requirement under a health insurance policy in which an Insurer would not be liable to pay any amount in excess of the pre-defined limit.

  • Upper Limit means a specified maximum amount of costs which may be claimed under a Unit of Work, but which may be extended on application. An Upper Limit operates in the same way as a Costs Limitation;

  • Economic Value – means the value of the Company and of its shares, to be determined by a specialized company by using a recognized methodology or based on another criterion to be defined by the CVM.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Nonrecourse Built-in Gain means with respect to any Contributed Properties or Adjusted Properties that are subject to a mortgage or pledge securing a Nonrecourse Liability, the amount of any taxable gain that would be allocated to the Partners pursuant to Section 6.2(b) if such properties were disposed of in a taxable transaction in full satisfaction of such liabilities and for no other consideration.

  • Capital Account Limitation has the meaning set forth in Section 4.05(b) hereof.

  • Annual Limit means the maximum amount claimable per person in a calendar year, unless otherwise stated.

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Economic damages means objectively verifiable monetary losses, including medical expenses, loss of earnings, burial costs, loss of use of property, cost of replacement or repair, cost of obtaining substitute domestic services, loss of employment, and loss of business or employment opportunities.

  • Partner Minimum Gain means an amount, with respect to each Partner Nonrecourse Debt, equal to the Partnership Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • Partnership Percentage means the percentage share of each Partner in the Net Income or Net Loss of the Partnership. The Partners’ initial Partnership Percentages shall be proportionate to the Partners’ initial Capital Contributions to the Partnership. Thereafter, subject to Section 1.68(g), such Partnership Percentages shall be adjusted only to reflect a disproportionate Capital Contribution by one or more Partners or a disproportionate distribution to one or more Partners, with disproportion being determined in accordance with Sections 4.2(a) and 4.5(b), except as set forth in Section 1.68(f).

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Expense Limit means the percentage of a Fund’s average annual net assets (on an annualized basis) set forth below. The current expense limitation agreement expires on the date specified, unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time. Fund Limit on Other Expenses Expiration Date of Expense Limit Greater China Opportunities Fund 0.30% February 28, 2017 Value Equity Fund1 0.04% February 28, 2018 1 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the contractual limit on other expenses (0.04%) for Value Equity Fund with an expiration date of February 28, 2018, effective July 1, 2016. APPENDIX G Fund Level Contractual Investment Management Fee Waivers The Adviser agrees to limit Jxxx Hxxxxxx Money Market Fund’s management fee to a maximum annual rate of 0.40% of the Fund’s average daily net assets. The limitation will continue until at least July 31, 2017.* * At the March 8-10, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to July 31, 2017) of the management fee limitation, effective upon the current expiration date of July 31, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Value Equity Fund’s management fee to a maximum annual rate of 0.66% of the Fund’s average daily net assets. The limitation will continue until at least February 28, 2018.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the lowering of the advisory fee cap (to 0.66%) and the extension of the expiration date (to February 28, 2018) of the management fee limitation, each effective July 1, 2016. The Adviser agrees to limit Jxxx Hxxxxxx Government Income Fund’s management fee to a maximum annual rate of 0.53% of the Fund’s average daily net assets. The limitation will continue until at least September 30, 2017.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to September 30, 2017) of the management fee limitation, effective upon the current expiration date of September 30, 2016. The Adviser agrees to reduce Jxxx Xxxxxxx Xxxx Fund’s management fee by an annual rate of 0.05% of the Fund’s average daily net assets. The reduction will continue until at least September 30, 2017.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the extension of the expiration date (to September 30, 2017) of the advisory fee waiver, effective upon the current expiration date of September 30, 2016. The Adviser agrees to reduce Jxxx Hxxxxxx Enduring Assets Fund’s management fee by an annual rate of 0.20% of the Fund’s average daily net assets. The reduction will continue until at least February 28, 2018.* * At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Adviser notified the Board of, and the Board approved, the advisory fee waiver (0.20%) for Jxxx Hxxxxxx Enduring Assets Fund with an expiration date of February 28, 2018, effective July 1, 2016.

  • Aggregate Industry Equivalent Unit Score is then calculated for each S&P Industry Classification, shown on Schedule 2, and is equal to the sum of the Equivalent Unit Scores for each issuer in such industry classification group.

  • Positive beam limitation means the automatic or semi-automatic adjustment of an x-ray beam to the size of the selected image receptor, whereby exposures cannot be made without such adjustment.

  • Partner Nonrecourse Debt Minimum Gain has the meaning set forth in Treasury Regulation Section 1.704-2(i)(2).

  • Plantwide applicability limitation (PAL means an emission limitation expressed in tons per year, for a pollutant at a major stationary source, that is enforceable as a practical matter and established source-wide in accordance with Chapter 19, section 011.

  • Aquatic life means all fish, reptiles, amphibians, crayfish, mussels, mollusks, and crustaceans.

  • Prescribed Limit means ten per cent (10%) of the issued ordinary share capital of the Company as at the date of passing of this resolution unless the Company has effected a reduction of the share capital of the Company in accordance with the applicable provisions of the Companies Law, at any time during the Relevant Period, in which event the issued ordinary share capital of the Company shall be taken to be the amount of the issued ordinary share capital of the Company as altered (excluding any treasury share that may be held by the Company from time to time); and

  • Public liability means any legal liability arising out of or resulting from a nuclear in- cident or precautionary evacuation (includ- ing all reasonable additional costs incurred by a State, or a political subdivision of a State, in the course of responding to a nu- clear incident or precautionary evacuation), except (1) claims under State or Federal Workmen’s Compensation Acts of employees of persons indemnified who are employed (a) at the location or, if the nuclear incident oc- curs in the course of transportation of the radioactive material, on the transporting ve- hicle, and (b) in connection with the licens- ee’s possession, use or transfer of the radio- active material; (2) claims arising out of an act of war; and (3) claims for loss of, or dam- age to, or loss of use of (a) property which is located at the location and used in connec- tion with the licensee’s possession, use, or transfer of the radioactive material, and (b) if the nuclear incident occurs in the course of transportation of the radioactive mate- rial, the transporting vehicle, containers used in such transportation, and the radio- active material.