Volumetric Production Payment definition

Volumetric Production Payment means a production payment that is recorded as a sale in accordance with GAAP, whether or not the sale price must be recorded as deferred revenue, together with all undertakings and obligations in connection therewith.
Sample 1Sample 2Sample 3
Volumetric Production Payment means production payment obligations recorded as deferred revenue in accordance with IFRS, together with all related undertakings and obligations.
Sample 1Sample 2Sample 3
Volumetric Production Payment means, with respect to any Person, any obligation of such Person to deliver pre-determined volumes of oil or gas out of future production from designated reserves that is without recourse to other assets of such Person.
Sample 1Sample 2Sample 3

Examples of Volumetric Production Payment in a sentence

  • On October 22, 2018, the Company issued a term sheet to an unaffiliated investor for a promissory note in the principal amount of $50,000 with a Volumetric Production Payment (“VPP”) equal to 1,250 barrels of oil equivalent (“BOE”).

  • At Closing, (i) Optionor shall execute an Assignment and Conveyance, the form of which shall be substantially the same as the form attached hereto as Exhibit “I”, and (ii) depending upon Optionor’s election, Optionee shall either pay the Cash Payment or execute an Assignment of Volumetric Production Payment, the form of which shall be substantially the same as the form attached hereto as Exhibit “J”.

  • Both Parties at Closing shall execute a Settlement Statement evidencing any amount actually wire transferred or the Volumetric Production Payment assigned and all adjustments to the consideration taken into account at Closing.

  • At such Closing, (i) Optionor shall execute an Assignment and Conveyance in the form substantially the same as the form attached as Exhibit “I”, and (ii) depending upon Optionor’s election, Optionee shall either pay the Cash Payment or execute an Assignment of Volumetric Production Payment in substantially the same form as the form attached as Exhibit “J”.

  • Volumetric Production Payment Transaction On August 10, 2020, the Company completed a volumetric production payment transaction and received net proceeds of approximately$215 million (the "VPP").

  • Volumetric Production Payment Transaction On August 10, 2020, we completed a volumetric production payment transaction and received net proceeds of approximately $216 million (the "VPP").

  • It has happened in the past that wrong distribution of IP prefixes were made in the routing, and so entire Autonomous Systems, and therefore also the entire traffic to these networks, diverted to other countries.

  • Underlying the agreements, the amount of VPP (Volumetric Production Payment) that must be paid in periodic monetary terms will be established, with ranges such as to ensure both the remuneration of the Proposing Group and the profit margin of the user.

  • Announces Closing of a Volumetric Production Payment Transaction (“VPP”) and Monetizing its Entire Natural Gas Hedge Portfolio for a Combined $68 Million in Cash Proceeds Oklahoma City, Oklahoma, Monday, December 12, 2011.

  • To the contrary, the Credit Agreements confirmed the Subsidiaries’ prior obligation to UBS under the VPP Documents and 3The Credit Agreements provided that “‘VPP Termination’ shall mean the termination of the Volumetric Production Payment and the Volumetric Production Payment Documents and the execution and delivery of all conveyances, releases and related documents required in connection therewith including, without limitation, a special warranty deed.” Credit Agreements, p.


More Definitions of Volumetric Production Payment

Volumetric Production Payment has the meaning specified in Section 2.5.
Sample 1Sample 2
Volumetric Production Payment means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all related undertakings and obligations.
Sample 1
Volumetric Production Payment means a production payment that is recorded as a sale in accordance with GAAP, whether or n as deferred revenue, together with all undertakings and obligations in connection therewith.
Sample 1

Related to Volumetric Production Payment

  • Production Payments means, collectively, Dollar-Denominated Production Payments and Volumetric Production Payments.

  • Production Payments and Reserve Sales means the grant or transfer by the Company or any of its Restricted Subsidiaries to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of technical services to the Company or any of its Restricted Subsidiaries.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Production Year means the 12- month period between September 1 of one year and August 31 of the following year, inclusive.

  • Production Tax Credit or “PTC” means the tax credit for electricity produced from certain renewable generation resources described in Section 45 of the Internal Revenue Code of 1986, as it may be amended or supplemented from time to time.

  • State-certified production means a qualified production

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Net Revenues means the difference between:

  • Aerosol cooking spray means any aerosol product designed either to reduce sticking on cooking and baking surfaces or to be applied on food, or both.

  • CAISO Revenues means the net amount resulting from (a) the credits and other payments received by Buyer, as Seller’s Scheduling Coordinator, as a result of test energy from the Project delivered by Seller during the Test Period, including revenues associated with CAISO dispatches and (b) the debits, costs, penalties and interest that are directly assigned by the CAISO to the CAISO Global Resource ID for the Project for, or attributable to, scheduling and deliveries from the Project under this Agreement, which amount may result in a negative or positive value.

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.