Share of Production definition

Share of Production means, at any time, the sum of (i) the aggregate production attributable to Investor’s direct interest in any Field assigned to Investor under Section 4.4 plus (ii) the aggregate production allocable to Investor’s IPI Percentage in any Field owned by InterOil in which Investor has an indirect interest under this Agreement. Investor’s Share of Production will include production attributable to an Investor’s direct or indirect interest in a Field in which Investor has exercised non-consent rights under this Agreement or an applicable JVOA as if such non-consent rights had not been exercised. Investor shall pay to InterOil an incentive discovery fee of US $0.20 per BOE of Investor’s Share of Production produced and sold in excess of the product of (i) 50 million BOE multiplied by (ii) Investor’s IPI Percentage. Such fee shall be payable at the end of each calendar quarter. Such fee may be deducted by InterOil from Quarterly Distributions payable under Section 2.4 and any JVOA entered into under Section 4.4 shall provide for the deduction of such fee.
Sample 1
Share of Production shall include all production attributable to each Well after deducting applicable royalties, overriding royalties, and other similar burdens that burdened the Assignment (excepting any such burdens created by Participant). Costs and Project Payout shall be determined on an aggregate, project basis.
Sample 1

Examples of Share of Production in a sentence

  • No data for these operations are included in the Share of Production table.

  • The Grantor shall use all commercially reasonable efforts to obtain the payment of Production Revenues and Other Revenues, excluding Production Revenues from the Royalty Share of Production that the Royalty Owner took in kind.

  • No data for this operation are included in the Share of Production table.

  • Subject to the foregoing, the Grantor shall have complete discretion as to the terms, conditions and length of any contract entered into for the sale of the Grantor’s Share of Production.

  • Where Rio Tinto has wholly divested an operation, no data is included in the Share of Production tables.

  • The Royalty shall not apply to any of the Grantor’s Share of Production that is lost, consumed or used otherwise in respect of any operations of any nature whatsoever.

  • The Royalty shall not apply to any of the Grantor's Share of Production lost or consumed in operations.

  • The Royalty Owner shall not own any of the Grantor’s Share of Production, except for the Royalty Share of Production that the Royalty Owner elects to take in kind pursuant to and in accordance with Section 2.5.

  • The Grantor shall act reasonably, and in accordance with prudent oil and gas industry practices, to arrange for the sale of the Grantor’s Share of Production for the best prices and on the best terms as are reasonably available.

  • The Grantor shall be entitled to contract with a Third Party to market the Grantor's Share of Production.

Related to Share of Production

  • plant products means products of plant origin, unprocessed or having undergone simple preparation in so far as these are not plants, set out in Annex IV-A, Part 3 to this Agreement;

  • Hemp product means the same as that term is defined in § 3.2-4112.

  • processed products means goods placed under a processing procedure which have undergone processing operations;

  • Cannabis product means cannabis that has undergone a process whereby the plant material has been transformed into a concentrate, including, but not limited to, concentrated cannabis, or an edible or topical product containing cannabis or concentrated cannabis and other ingredients.

  • Licensed Product means any pharmaceutical product containing a Licensed Compound (alone or with other active ingredients), in all forms, presentations, formulations and dosage forms.

  • Refined Products means gasoline, diesel fuel, jet fuel, asphalt and asphalt products, and other refined products of crude oil.

  • Hemp products means all products made from industrial hemp,

  • Commercialization or “Commercialize” means any and all activities undertaken at any time for a particular Licensed Product and that relate to the manufacturing, marketing, promoting, distributing, importing or exporting for sale, offering for sale, and selling of the Licensed Product, and interacting with Regulatory Authorities regarding the foregoing.

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Cannabis products means cannabis that has undergone a process whereby the plant material has been transformed into a concentrate, including, but not limited to, concentrated cannabis, or an edible or topical product containing cannabis or concentrated cannabis and other ingredients.

  • Licensed Services means all functions performed by the Licensed System.

  • Production means a method of obtaining goods including manufacturing, assembling, processing, raising, growing, breeding, mining, extracting, harvesting, fishing, trapping, gathering, collecting, hunting and capturing.

  • Collaboration Product means any pharmaceutical product in finished form that contains a Collaboration Compound, either as the sole active ingredient or in combination with one or more other active ingredients, and all present and future formulations, dosages and dosage forms thereof.

  • Finished Product means a cannabis product in its final form to be sold at a retail premises.

  • Licensed System means, collectively:

  • Production Area means that part of the animal feeding operation that includes the animal confinement area, the manure storage area, the raw materials storage area, and the waste containment areas. The animal confinement area includes, but is not limited to, open lots, housed lots, feedlots, confinement houses, stall barns, free stall barns, milkrooms, milking centers, egg washing or egg processing areas, areas used for the storage and disposal/treatment of mortalities, cowyards, barnyards, medication pens, walkers, animal walkways, and stables. The manure storage area includes, but is not limited to, lagoons, runoff ponds, storage sheds, stockpiles, under-house or pit storages, liquid impoundments, static piles, and composting piles. The raw materials storage area includes, but is not limited to, feed silos, and silage bunkers. The waste containment area includes, but is not limited to, settling basins and areas within berms and diversions which separate uncontaminated stormwater.

  • Commercial Production means the operation of the Property or any portion thereof as a producing mine and the production of mineral products therefrom (excluding bulk sampling, pilot plant or test operations);

  • Licensed producer means a person or entity licensed to produce medical cannabis.

  • Manufacturing Costs means [***].

  • Drug Product means a specific drug in dosage form from a known source of manufacture, whether

  • Product means any deliverable under the Contract, which may include commodities, services, technology or software.