The Participating Interests definition

The Participating Interests set forth in Section 2.1 for the Oil Unit and the Gas Unit are based on preliminary estimates of initial proved Oil in place and Gas in place (excluding in connection with the estimate of Gas in place, any Gas in solution with Oil under original reservoir conditions), respectively, underlying the respective portions of the Huffco Area and the Total-Inpex Area included within the Unit Area. The Parties recognize that the data on which such estimates are based are incomplete, and therefore, such Participating Interests will be adjusted periodically in accordance with the following:
Sample 1

Examples of The Participating Interests in a sentence

  • The Participating Interests of the Participants shall not be changed except as provided in this Agreement (including the Financial and Accounting Procedures) and each Participant's Participating Interest in Contract Area Block A may, as provided in this Agreement and the Financial and Accounting Procedures, be different from its Participating Interest in Contract Area Block B.

  • The Participating Interests of the Venturers shall remain the same unless the other Venturer agrees otherwise and shall not be increased by virtue of any loan, gift or other contribution made by a Venturer unless the other Venturer agrees otherwise.

  • The Participating Interests of the Participants shall be subject to adjustment and forfeiture as set forth below in this Agreement.

  • The Participating Interests of the Parties in the Production and Petroleum Costs are as set forth in the Joint Venture Agreement.

  • The Participating Interests of all Participants shall not, subject to permitted transfers and assignments, change thereafter.

  • The "Participating Interests" of the Members in the ownership of the JV are as follows: Name Participating Interest ---- ---------------------- Teknik Digital Arts Inc.

  • The Participating Interests of the Participating Parties will be subject to adjustment as herein provided.

  • The Participating Interests of the Parties at the Effective Date are: WELL LOGGING LTDA 4.0% PETROSOUTH ENERGY CORPORATION SUCURSAL COLOMBIA 6.0% DELAVACO ENERGY COLOMBIA INC.

  • The Participating Interests are intended to qualify as “profits interests” within the meaning of Revenue Procedure 93-27 as clarified by Revenue Procedure 2001-43.

  • The Participating Interests fixed in Article 6 for each of the Joint Ventures, will be adjusted periodically as provided in Articles 6.7, 6.8, and 6.9 provided however that until ASARCO shall have earned a Participating Interest in a Joint Venture pursuant to Article 7, its voting rights under Article 6.6 shall be adjusted periodically to be equal to 50% of 10 12 SOTRAPMAG's Participating Interest in such Joint Venture, as adjusted from time to time as between SOTRAPMAG and LA SOURCE.

Related to The Participating Interests

  • Participating Interest is defined in Section 1.2(d) hereof.

  • Participating Entity Any Subcontractor or Subservicer which is “participating in the servicing function” within the meaning of Item 1122 of Regulation AB; provided, further, for the purposes of the third paragraph of Section 7.04(c), that a “Participating Entity” shall be determined without respect to any threshold limitations in Instruction 2. to Item 1122 of Regulation AB. Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.

  • Participating Entities and “Participating Entity” are defined on the Coversheet.

  • Voting Interests means shares of capital stock issued by a corporation, or equivalent Equity Interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency.

  • Participating Class Members means all Class Members who do not submit valid

  • Participating Investor any Participating Account, Participating Insurance Company or Participating Plan, including the Account and the Company.

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Members’ Percentage Interests means the ownership percentage interests as mentioned in Section I of this Agreement. During each fiscal year, the net profits and net losses of the Company (other than from capital transactions), and each item of income, gain, loss, deduction, or credit entering into the computation thereof, shall be credited or charged, as the case may be, to the capital accounts of each Member(s) in proportion to the Members' Percentage Interests. The net profits of the Company from capital transactions shall be allocated in the following order of priority: (a) to offset any negative balance in the capital accounts of the Member(s) in proportion to the amounts of the negative balance in their respective capital accounts, until all negative balances in the capital accounts have been eliminated; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The net losses of the Company from capital transactions shall be allocated in the following order of priority: (a) to the extent that the balance in the capital accounts of any Member(s) are in excess of their original contributions, to such Member(s) in proportion to the excess balances until all such excess balances have been reduced to zero; then (b) to the Member(s) in proportion to the Members’ Percentage Interests. The cash receipts of the Company shall be applied in the following order of priority: (a) to the payment of interest or amortization on any mortgages on the assets of the Company, amounts due on debts and liabilities of the Company other than those due to any Member(s), costs of the construction of the improvements to the assets of the Company and operating expenses of the Company; (b) to the payment of interest and establishment of cash reserves determined by the Member(s) to be necessary or appropriate, including without limitation, reserves for the operation of the Company’s business, construction, repairs, replacements, taxes and contingencies; and (d) to the repayment of any loans made to the Company by any Member(s). Thereafter, the cash receipts of the Company shall be distributed among the Member(s) as hereafter provided. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts of the Company, other than from capital transactions, shall be allocated among the Member(s) in proportion to the Members’ Percentage Interests. Except as otherwise provided in this Agreement or otherwise required by law, distributions of cash receipts from capital transactions shall be allocated in the following order of priority: (a) to the Member(s) in proportion to their respective capital accounts until each Member(s) has received cash distributions equal to any positive balance in their capital account; then (b) to the Member(s) in proportion to the Members' Percentage Interests. It is the intention of the Member(s) that the allocations under this Agreement shall be deemed to have “substantial economic effect” within the meaning of Section 704 of the Internal Revenue Code and Treas. Reg. Section 1.704-1. Should the provisions of this Agreement be inconsistent with or in conflict with Section 704 of the Code or the Regulations thereunder, then Section 704 of the Code and the Regulations shall be deemed to override the contrary provisions thereof. If Section 704 of the Regulations at any time require that limited liability company operating agreements contain provisions which are not expressly set forth herein, such provisions shall be incorporated into this Agreement by reference and shall be deemed a part of this Agreement to the same extent as though they had been expressly set forth herein.

  • Participating student means a student in kindergarten through

  • Voting Interest With respect to any provisions hereof providing for the action, consent or approval of the Holders of all Certificates evidencing specified Voting Interests in the Trust Estate, the Holders of each Class of Certificates will collectively be entitled to the then applicable percentage of the aggregate Voting Interest represented by all Certificates equal to the ratio obtained by dividing the Principal Balance of such Class by the sum of the Class A Principal Balance and the Class B Principal Balance. Each Certificateholder of a Class will have a Voting Interest equal to the product of the Voting Interest to which such Class is collectively entitled and the Percentage Interest in such Class represented by such Holder's Certificates. With respect to any provisions hereof providing for action, consent or approval of each Class of Certificates or specified Classes of Certificates, each Certificateholder of a Class will have a Voting Interest in such Class equal to such Holder's Percentage Interest in such Class.

  • Participating Shares means shares that entitle their holders to participate without limitation in distributions.

  • Percentage Interests shall have the meaning specified in the Trust Agreement.

  • Participating FFI means an FFI that, as from the effective date of any rules requiring withholding on "passthru payments" (as such term is defined pursuant to Sections 1471 through 1474 of the Code and any regulations thereunder or official interpretations thereof), meets the requirements of Section 1471(b) of the Code and any regulations or other official guidance issued thereunder and that has not elected to be withheld upon pursuant to Section 1471(b)(3) of the Code;

  • Non-Participating Class Member means any Class Member who opts out of the Settlement by sending the Administrator a valid and timely Request for Exclusion.

  • Participating Class Member means a Class Member who does not submit a valid and timely Request for Exclusion from the Settlement.

  • participating class means a class of shares title to which is permitted by an Operator to be transferred by means of a relevant system;

  • Compensating Interest As defined in Section 3.24 hereof.

  • Ownership Interests means, with respect to any Person, all of the shares of Capital Stock of such Person and all debt securities of such Person that can be converted or exchanged for Capital Stock of such Person, whether voting or nonvoting, and whether or not such Capital Stock or debt securities are outstanding on any date of determination.

  • Participating Dentist means any Dentist who, at the time of rendering a Covered Dental Service to the Member, has a written agreement with CareFirst BlueChoice or the Dental Plan for the rendering of such service.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Participating Property means Development.

  • Participating member means an eligible employee who elects to participate in the defined contribution retirement plan established under this chapter.

  • qualifying interest means the aggregate interest, discount or original issue discount receivable by a resident individual in any year of income