Prior Costs definition

Prior Costs. Has the meaning ascribed thereto in Section 3.4;
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Prior Costs means an amount equal to:
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Prior Costs means those cost incurred prior to the Effective Date by YFP or its assignees in exploring and operating the OML 113 Lease including but not limited to, the costs incurred in drilling the xxxxx identified as the Aje #1 and Aje #2 xxxxx on the OML 113 Lease and all 2-D and 3-D seismic acquired with respect to the OML 113 Lease, but excluding any Signature Bonus which at the date of this agreement are agreed to be US$***, and subject to the Prior Costs Adjustment, shall be allocated in an amount equal to *** percent *** of the total of such costs to Syntroleum and in an amount equal to *** percent *** of the total of such costs to YFP. Syntroleum shall have the right to audit the books of YFP to verify the amount of the Prior Costs. The Parties agree that, for the calculation of taxes under the PPTA, the Prior Costs shall be applied to production of Hydrocarbons from the OML 113 Lease exclusively.
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Examples of Prior Costs in a sentence

  • At Financial Close, to the extent that funds are available and permitted to be used for such purpose, the Project Company shall make the following payments to the Parties: (1) reimbursement of all Prior Costs accrued by each Party; (2) reimbursement of all Deferred Costs; and (3) payment of a development fee to each Party.

  • No Party shall be entitled to reimbursement of any costs and expenses incurred in connection with the Project, except for reimbursement in accordance with the terms of the Agreement for Prior Costs, Deferred Costs, and Development Costs.

  • Prior Costs and ExpensesAny costs incurred before a claim is made and any Costs and Expenses which We do not authorise.

  • SW acknowledges having reviewed all costs and expenses comprising the Prior Costs and accepts same as reasonable and undisputed.

  • The Town has provided SW with an accounting of the Prior Costs which included a statement from each professional, identifying the personnel performing the Reimbursable Activities, each date the services were performed, the hours spent, the hourly rate, and a description of the Reimbursable Activities.

  • Payment of the Prior Costs shall be made from the Initial Escrow Deposit and shall not be reimbursable.

  • As an inducement to the Town to engage in Pre-Redevelopment Activities, and as a precondition thereto, SW has agreed to deposit two hundred and fifty thousand dollars ($250,000.00) (“ Initial Escrow Deposit”), to be deposited in escrow and disbursed in accordance with the provisions of this Agreement to reimburse the Town for the Prior Costs and to pay for Reimbursable Activities (as defined below) during the term of this Agreement.

  • Prior Costs for Grandfathered 1996 STIP Projects‌For every Caltrans project carried forward to the 1998 STIP, Caltrans will identify the amount of its expenditures for right-of-way (including support) and for project development through the 1997-98 fiscal year.

  • Immediately following execution of this Agreement, SW shall deposit the Initial Escrow Deposit in order to reimburse the Town for the Prior Costs and pay for the Reimbursable Activities (defined below) incurred by the Town pursuant to the terms of this Agreement in anticipation of the execution of a Redevelopment Agreement.

  • SW recognizes that the Town has incurred the Prior Costs and has and will incur additional costs and expenses in connection with the Pre-Redevelopment Activities, and SW is willing to defray the actual costs and expenses of Reimbursable Activities (as defined in Section 9, below) related to the Project Site, with no assurances of a particular result for SW from the Town.


More Definitions of Prior Costs

Prior Costs is defined in Section 3.01(a).
Sample 1
Prior Costs means those costs incurred prior to the Effective Date by YFP or its predecessors in interest in exploring and operating the Lease, including but not limited to all costs incurred in (a) drilling the xxxxx identified as the Aje #1 and Aje #2 xxxxx on the Lease, and (b) acquiring the 2-D and 3-D seismic over the Lease Area, but excluding any signature bonus paid by YFP in connection with the Lease, which YFP transfers to the Parties other than YFP pursuant to this Agreement.
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Related to Prior Costs

  • Labor costs means total compensation of all employees, not to include compensation paid

  • Overhead costs means the actual costs incurred or the estimated costs to be

  • Costs For any Person, any claims, losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments, and other costs and expenses of such Person.

  • Other Costs Defined in Section 13.9(c).

  • Litigation Costs means all reasonable costs, charges, expenses, including attorneys', accountants' and expert witnesses' fees, and obligations paid or incurred in connection with investigating, defending (including affirmative defenses and counterclaims), obtaining or attempting to obtain a settlement, being a witness in, or participating in or preparing to defend, be a witness in, or participate in, any Proceeding and any appeal therefrom and the cost of appeal, attachment and similar bonds.

  • Prime costs and “Prime cost sum” means the amount actually paid by the contractor for any article, commodity or special work and shall include all proper charges for packing, carriage and delivery to site, after deduction of all trade documents, rebates and allowances and the discount obtainable for cash insofar as such discount for cash exceeds 2½%.

  • Reimbursable Costs means expenses incurred by the employee in the course of engaging in the planned learning activity and include registration, tuition and examination fees as well as textbooks/discs and applicable taxes. They may also include reasonable, incremental meal, accommodation and travel expenses.

  • Allocable Costs means costs allocable to a particular cost objective if the goods or services involved are chargeable or assignable to such cost objective in accordance with relative benefits received or other equitable relationship. Costs allocable to a specific Program may not be shifted to other Programs in order to meet deficiencies caused by overruns or other fund considerations, to avoid restrictions imposed by law or by the terms of this Agreement, or for other reasons of convenience.

  • Cleanup costs means expenses (including but not limited to legal and professional fees) incurred in testing for, monitoring, cleaning up, removing, containing, treating, neutralizing, detoxifying or assessing the effects of Pollutants.

  • Production Costs means those costs and expenditures incurred in carrying out Production Operations as classified and defined in Section 2 of the Accounting Procedure and allowed to be recovered in terms of Section 3 thereof.

  • Costs and fees means all reasonable pre-award expenses of the arbitration, including the arbitrators' fees, administrative fees, travel expenses, out-of-pocket expenses such as copying and telephone, court costs, witness fees and attorney's fees. Upon the request of a party, the arbitrators' award shall include findings of fact and conclusion of law. The arbitrators shall provide copies of such award to the parties. Any award may be entered by the prevailing party in any court of competent jurisdiction.

  • Training costs means reasonable costs incurred to upgrade the technological skills of Full-Time Employees in Illinois and includes: curriculum development; training materials (including scrap product cost); trainee domestic travel expenses; instructor costs (including wages, fringe benefits, tuition and domestic travel expenses); rent, purchase or lease of training equipment; and other usual and customary training cots. “Training costs” do not include, except where the Company receives prior written approval of the Department, costs associated with travel outside the United States, wages and fringe benefits of employees during periods of training, administrative costs related to Full-Time Employees of the Taxpayer, or amounts paid to an affiliate of the Company.

  • Transfer Costs means the cost of registration of Transfer arising herefrom calculated with reference to the fee chargeable in terms of the recommended guideline of conveyancing fees, and all incidental disbursements necessary to effect registration, together with VAT on such costs and disbursements, but specifically excluding any costs relating to mortgage bond registration;

  • Legal Costs means, with respect to any Person, (a) all reasonable fees and charges of any counsel, accountants, auditors, appraisers, consultants and other professionals to such Person, (b) the reasonable allocable cost of internal legal services of such Person and all reasonable disbursements of such internal counsel and (c) all court costs and similar legal expenses.

  • FTE Costs means, for any period, the FTE Rate multiplied by the number of FTEs in such period.

  • Legal Expenses means the fees, costs and expenses of any kind incurred by any Person indemnified herein and its counsel in investigating, preparing for, defending against or providing evidence, producing documents or taking other action with respect to any threatened or asserted Claim.

  • Defense Costs has the meaning set forth in Section 13.

  • Transition Costs means the reasonable costs and expenses (including reasonable attorneys’ fees but excluding overhead) incurred or payable by the Successor Servicer in connection with the transfer of servicing (whether due to termination, resignation or otherwise), including allowable compensation of employees and overhead costs incurred or payable in connection with the transfer of the Receivable Files or any amendment to the Sale and Servicing Agreement required in connection with the transfer of servicing.

  • Direct Costs means the sum of the following:

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Allowable Costs means the costs defined as allowable in 42 CFR, Chapter IV, Part 413, as amended to October 1, 2007, except for the purposes of calculating direct medical education costs, where only the reported costs of the interns and residents are allowed. Further, costs are allowable only to the extent that they relate to patient care; are reasonable, ordinary, and necessary; and are not in excess of what a prudent and cost-conscious buyer would pay for the given service or item.

  • Related Expenses means any and all costs, liabilities, and expenses (including, without limitation, losses, damages, penalties, claims, actions, reasonable attorney's fees, legal expenses, judgments, suits and disbursements) reasonably incurred by, or imposed upon, or asserted against, Lender in any attempt by Lender:

  • Remediation Costs means the cost of any action taken to reduce the concentration of contaminants on, in or under the Eligible Property to permit a record of site condition to be filed in the Environmental Site Registry under section 168.4 of the Environmental Protection Act and the cost of complying with any certificate of property use issued under section 168.6 of the Environmental Protection Act, as further specified in the CIP.

  • Company Reimbursable Costs means the actual costs and expenses incurred by Company and/or its Affiliates in connection with performance of the Company Work or otherwise incurred by Company and/or its Affiliates in connection with this Agreement, and including, without limitation, any such costs that may have been incurred by Company and/or its Affiliates in connection with the Company Work or this Agreement prior to the Effective Date. These Company Reimbursable Costs shall include, without limitation, the actual expenses for labor (including, without limitation, internal labor), services, materials, subcontracts, equipment or other expenses incurred in the execution of the Company Work, all applicable overhead, overtime costs, all federal, state and local taxes incurred (including, without limitation, all taxes arising from amounts paid to Company that are deemed to be contributions in aid of construction), all costs of outside experts, consultants, counsel and contractors, all other third-party fees and costs, and all costs of obtaining any required permits, rights, consents, releases, approvals, or authorizations acquired by or on behalf of Company, including, without limitation, the Required Approvals.

  • Travel Expenses means any costs incurred by Licensor associated with the transportation, storage or lodging of equipment, supplies, Licensor employees and other items necessary for business use from Licensor headquarters to Licensee’s facilities. Travel expenses may include, but are not limited to airfare, hotel costs, and meals if applicable. Any travel expenses paid by the Licensee shall be paid at allowable government travel rates consistent with Management Directive 230.10, unless otherwise first approved by the Licensee’s authorized representative.

  • Unallowable Costs has the same meaning as in 44 Ill. Admin. Code Part 7000.