Specified Assumptions definition
Specified Assumptions means, on any date of determination, assumptions and adjustments to estimates of future net revenues made in accordance with the then existing standards of the Society of Petroleum Engineers and, to the extent such assumptions or adjustments relate to (a) basis differentials, such assumptions or adjustments shall be consistent with differentials realized during the six month period preceding such date of determination and differentials projected for the six month period following such date of determination calculated by comparing actual realized or projected prices to NYMEX prices for each month during such period, (b) operating, gathering, processing, transportation or marketing expenses, such assumptions or adjustments shall reflect trade terms set forth in the contracts giving rise to such expenses as such terms exist on such date of determination (or, if no such contracts exist with respect to such expenses, such assumptions or adjustments shall be consistent with expenses incurred during the six month period preceding such date of determination and expenses projected for the six month period following such date of determination), and (c) projected future net revenues attributable to natural gas liquids, such assumptions or adjustments shall be based on the relevant Strip Prices for crude oil and average realized natural gas liquids price differentials during the six month period preceding such date of determination and projected average natural gas liquids price differentials for the six month period following such date of determination.
Specified Assumptions has the meaning set forth in the Master Transaction Agreement.
Specified Assumptions means the actuarial, economic, expense, volatility and correlation assumptions used in connection with the production of the Specified Scenario Results, as listed on Schedule 1.01(h).
Examples of Specified Assumptions in a sentence
In the event that the ALC Model is adjusted by the mutual agreement of CGLIC and Retrocessionaire or in accordance with the Final ALC Determination (the ALC Model as adjusted, the “Revised ALC Model”), the Census Values and Specified Assumptions as of December 31, 2012 will be entered into the Revised ALC Model by CGLIC, under the supervision of the Independent Actuary, in order to calculate the Revised Specified Scenario Results.
More Definitions of Specified Assumptions
Specified Assumptions means the actuarial and capital market assumptions attached hereto as Schedule 1.1(b).