State Consideration definition
State Consideration means, for any Month beginning with the Month in which Regular Commercial Production starts, the cash payments derived from the Hydrocarbon production in the Contract Area and such other considerations that the Nation is entitled to in accordance with Article 16.2 and Annex 3.
State Consideration means, for any Month beginning with the Month in which Regular Commercial Production commences, the share of Hydrocarbon production from the Contract Area and the other consideration that the Nation is entitled to in accordance with Article 16.2 and Annex 3. “Storage” shall mean the deposit and safeguard of Hydrocarbons in enclosed deposits and facilities that may be located on the surface, at sea or in the subsoil.
Examples of State Consideration in a sentence
To the extent that such adjustment period includes a period during which the State Consideration has been paid as a percentage of the Contractual Value of Hydrocarbons, measurements adjusted pursuant to this Article 12.5 shall be used to recalculate the amount due for the period of inaccuracy as provided in Annex 3.