equity benefit definition

equity benefit means, in relation to a petroleum project, a 2% participating interest in that petroleum project, free of encumbrances or liabilities as at the commencement of commercial production of petroleum from that petroleum project;
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equity benefit means, in relation to a unconventional hydrocarbons project, a 2% participating interest in that unconventional hydrocarbons project, free of encumbrances or liabilities as at the commencement of commercial production of unconventional hydrocarbons from that unconventional hydrocarbons project;
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Related to equity benefit

  • Retirement Benefit means the benefit set forth in Article 5.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Maturity Benefit means the amount of benefit which is payable on maturity i.e. at the end of the Policy term, as stated at the inception of the Policy contract and specified in the Policy Schedule

  • Monthly Benefit means the monthly amount payable by Lincoln to you if you are Disabled or Partially Disabled.