NPI Payments definition

NPI Payments shall have the definitions set forth in (i) Section 5.5 of that certain Employment Agreement by and between High Sierra Shared Services, LLC and ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ made as of the 1st day of June 2011 and (ii) Section 5.5 of that certain Employment Agreement by and between High Sierra Shared Services, LLC and ▇▇▇▇▇ ▇. ▇▇▇▇▇ made as of the 1st day of June 2011, as amended from time to time.
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NPI Payments means any payment by a Debtor of or in respect of any royalty or net profits interest in favour of or held by any Subordinated Creditor and whether created in connection with the Plan of Arrangement or otherwise (whether made, paid or satisfied in or for cash, property or both);
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NPI Payments has the meaning assigned in Section 3.1.
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Examples of NPI Payments in a sentence

  • If the payment made by the Grantor on account of the NPI for a Month is greater than the actual amount of the NPI Payment for such Month, the Grantor will be entitled to recover the overpayment by set off against NPI Payments for subsequent Months.

  • Where the Grantor pays expenses of the Trust, including amounts to the trustee of the Trust or pursuant to indemnification provisions contained in the Trust Indenture, it shall be entitled to set off such amounts against the NPI Payments.

  • Upon termination of this Agreement pursuant to this Article 0, Article 8, or as elsewhere herein provided Domain shall retain its Net Profits Interests in ▇▇▇▇▇ located in the Subject Properties, and Domain shall be entitled to, and shall continue to, receive NPI Payments as provided under Article 4.

  • NPI Payments attributable to a given Month’s Hydrocarbon Production shall be due and payable by COC to Domain not later than the first to occur of (i) sixty (60) days following the last day of the Month of production or (ii) thirty days (30) following receipt by COC of proceeds from applicable purchasers.

  • For each Month that the Net Profits Account contains funds, payment to Domain of NPI Payments shall be accomplished by wire transfer to Domain’s banking account, pursuant to the instructions set forth in Exhibit C.

  • Alternatively, the Parties may agree upon a lump sum payment to be made by COC to Domain in lieu of Domain’s right to receive further NPI Payments under this Agreement.

  • Domain shall be entitled to receive NPI Payments, until the Total NPI Payments for all Tranche’s have been made.

  • In the event the Parties desire to jointly market their interests in the Contract Area, the Parties shall engage an Engineering Consultant mutually agreeable to Domain and COC to determine the value of the Subject Properties in the Contract Area (“Property Value”) and the value of all future NPI Payments which Domain would be entitled to receive attributable to Tranches completed in the Contract Area at the time of the valuation (“Domain’s Value”).

  • Where the Grantor pays expenses of the Trust, including amounts to the Trustee of the Trust or pursuant to indemnification provisions contained in the Trust Indenture, it shall be entitled to set off such amounts against the NPI Payments.

  • The Purchase Price Payment on the Subsequent Closing Date will be reduced by an amount equal to all NPI Payments that would have been due and payable to the NPI Purchaser through the Subsequent Closing Date assuming that the Conveyance covering the Conveyed Interests listed in Schedule 3 had been made to the NPI Purchaser effective on the date of commencement of production of each Accepted Well listed in Schedule 3.