After Payout Sample Clauses

After Payout. At that point in time when one hundred percent (100%) of the development and operating costs expended to establish and maintain production from the Overriding Royalty Depth and/or the Overriding Royalty Surface Acreage are recovered by the party paying such costs, then the Overriding Royalty Interest determined under Section 5.01(a) above shall automatically be adjusted to an Overriding Royalty Interest equal to (i) twelve and one-half percent (12.5%) of 8/8ths, (ii) multiplied by the Fixed Percentage, then (iii) multiplied by the percentage working interest of Operating Partnership in that Lease. That is to say, if it is assumed as in the example above that Operating Partnership owns sixty percent (60%) of the working interest which is fully subject to Pension Partnership's Net Profits Interest, and if it is assumed that the Fixed Percentage is fifty percent (50%), then Pension Partnership's Overriding Royalty Interest converts to three and three-quarters percent (3.75%), i.e., twelve and one-half percent (12.5%) of 8/8ths multiplied by fifty percent (50%) (the Fixed Percentage) multiplied by sixty percent (60%) (the Operating Partnership's working interest). The resultant Overriding Royalty Interest calculated under (a) or (b) above shall be reduced or increased proportionately to reflect any sliding scale or reversionary overriding royalty, working interest or similar arrangements contained in the Leases or Subject Interests covering the Overriding Royalty Depth or Overriding Royalty Surface Acreage or contained in any other document as to which such Leases or Subject Interests are made subject as of the date of acquisition.
Sample 1Sample 2
AutoNDA by SimpleDocs
After Payout. Upon Payout, the Sharing Ratio of TransCoastal shall be increased to 50% and the Sharing Ratio of Core shall be decreased to 50%.
Sample 1Sample 2
After Payout. Seventy-nine percent (79%) to the Investor Partners and Unit Holders (and ratably among them based upon the number of Units held) and twenty-one percent (21%) to the Managing General Partner.
Sample 1
After Payout. Cost Oil Tax Oil Profit Oil -------- ------- ---------- Technical Partner 0% 0% 30% -------- ------- ---------- Owner/Operator 0% 0% 40% -------- ------- ---------- Government 0% 30% 0% -------- ------- ----------
Sample 1
After Payout. After Payout, the matters requiring approval of the Working Interest Owners shall include the following:
Sample 1
After Payout. (a) For each taxable year (or portion thereof) after Payout items of income, gain, loss and deduction of the Partnership shall be allocated to the Partners as follows:
Sample 1
After Payout. ATLAS and SUMMIT shall separately pay Royalties and Petroleum Profits Tax on the share of Hydrocarbons actually received by each Party.
Sample 1
AutoNDA by SimpleDocs
After Payout. (i) Lessor shall have the option of continuing to receive the royalty provided in Article 4.1(a) above or four-tenths (4/10) of the Net Profits.
Sample 1

Related to After Payout

  • Payout In order to receive any award under this Agreement, Recipient must be employed by the Company on December 31, (the “Vesting Date”), except as provided by Sections 3.2, 3.3, 3.4, 3.5 and 4.

  • Gross Income Allocations In the event any Partner has a deficit balance in its Capital Account at the end of any Partnership taxable period in excess of the sum of (A) the amount such Partner is required to restore pursuant to the provisions of this Agreement and (B) the amount such Partner is deemed obligated to restore pursuant to Treasury Regulation Sections 1.704-2(g) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 6.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Capital Account as adjusted after all other allocations provided for in this Section 6.1 have been tentatively made as if this Section 6.1(d)(v) were not in this Agreement.

  • Economic Benefit The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04.

  • Cash Balances The Equipment Growth Funds of which FSI is the sole general partner shall maintain aggregate unrestricted cash balances of $8,500,000.

  • Gross Income Allocation If any Partner has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Partner is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall be specially allocated items of Partnership income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Partner would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.

  • Forfeiture Allocations Upon a forfeiture of any Unvested LTIP Units or Unvested Performance Units by any Partner, gross items of income, gain, loss or deduction shall be allocated to such Partner if and to the extent required by final Regulations promulgated after the Effective Date to ensure that allocations made with respect to all unvested Partnership Interests are recognized under Code Section 704(b).

  • Monthly Debt Service Payments Borrower shall pay to Lender (a) on the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan for the initial Accrual Period and (b) on September 1, 2010, and on each Payment Date thereafter up to and including the Maturity Date, the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.

  • FORFEITURE ALLOCATION Subject to any restoration allocation required under Sections 5.04 or 9.14, the Advisory Committee will allocate a Participant forfeiture in accordance with Section 3.04: (Choose (a) or (b); (c) and (d) are optional in addition to (a) or (b))

  • Allocation of Revenues All revenues relating to the Designated Property shall be allocated as follows: (i) 100% to CWEI before Payout and (ii) 1% to CWEI and 99% to the Participants after Payout, apportioned among the Participants in proportion to the percentages listed on Exhibit A attached hereto.

Time is Money Join Law Insider Premium to draft better contracts faster.