Determination of Reserves Sample Clauses

Determination of Reserves. The Parties have agreed that the determination of reserves of the mining title shall be made using the JORC methodology described in the Eighth Clause. CCP has designated Mr. BXXXX XXXXXXXX as a “Competent Person” under the definition of JORC, who is an internationally recognized Geologist accredited to issue the Certification of Reserves. In the case that the said person is unavailable CCP will designate another “Competent Person” with the same qualifications. Material marked with an asterisk has been omitted from this document pursuant to a request for confidential treatment and has been filed separately with the Securities and Exchange Commission.
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Determination of Reserves. 6 V. Quantity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 VI. Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 VII. Delivery Point - Liability . . . . . . . . . . . . . . . . . . . . . . . . 14 VIII. Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 IX.
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Determination of Reserves. 1. Seller shall, promptly after the execution hereof, make available to Buyer such basic noninterpretive information and data in Seller's possession as may reasonably be required by Buyer for the purpose of estimating the amount of Seller's reserves attributable to each well unit then subject to this Contract. Upon receipt of such information and data, Buyer shall promptly estimate the amount of such reserves attributable to each such well unit and shall furnish to Seller within thirty (30) days after receipt of said basic data a written statement thereof which, after agreement by Seller, shall constitute the original determination of reserves for such well unit for the purpose of computing the takes therefrom under this Contract. Seller shall also make available, upon request from Buyer, such information and data in Seller's possession as may reasonably be required by Buyer to estimate the amount of oil well gas available hereunder in each oil reservoir or pool covered by this 9
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Determination of Reserves. 1. Seller shall, upon request from Buyer, and from time to time, make available to Buyer all factual information and data (excluding interpretation) in Seller's possession that may reasonably be needed by Buyer for the purpose of estimating the amount of reserves in any reservoir or pool in the Contract Area in which Seller may own an interest. Buyer recognizes that all information furnished by Seller to Buyer pursuant to this Section is confidential and constitutes the proprietary information of Seller, and Buyer shall not disclose or in any manner whatsoever divulge any such information to others without Seller's written permission, except as is required by the Michigan Public Service Commission or any other regulatory agency having jurisdiction to approve facilities construction.
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Determination of Reserves. 8.1 Without prejudice to Sub-clauses 4.6.1, 4.6.2, 4.6.3, and 4.6.4:-
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Determination of Reserves. The Parties have agreed that the determination of reserves of the mining titles mentioned above will be carried out via the utilization of the JORC methodology. CCP has designated Mr. BXXXX XXXXXXXX as a “Competent Person”, who is an internationally recognized Geologist entitled to issue the Reserve Certificate. In the case that such persons services will not be available, CCP will assign another “Competent Person” who has the same qualifications.
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Determination of Reserves. 13 1.4 Gender of Words......................................................................... 13 1.5
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Determination of Reserves. All determinations of amounts and types of reserves shall be made in accordance with Society of Petroleum Engineers definitions.
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Determination of Reserves. 1. Seller shall forthwith furnish Buyer all information and data in Seller's possession which Seller deems nonconfidential that may be required by Buyer for the purpose of estimating the initial amount of reserves, and shortly after furnishing such information Seller shall also submit to Buyer a statement showing Seller's estimate of the initial amount of reserves and the amount of reserves in each gas well gas reservoir then covered hereunder. If Buyer does not object to all or any part of such statement within forty-five (45) days after receipt thereof, Seller's said statement shall be deemed correct for all purposes hereof. If Buyer objects to all or any part of such statement within said forty-five day period, the parties shall promptly meet to attempt to resolve their difference over those portions of such statement to which Buyer has objected. If the parties have not resolved all such portions within thirty (30) days after Buyer's said objection, then the parties shall submit those portions of the statement still in disagreement to arbitration as provided in Section 4 of this Article IV. The effective date of the initial determination of reserves pursuant to this Section 1 shall be the date of initial deliveries of gas hereunder or within one hundred twenty (120) days following the tender by Seller of gas reserves to Buyer, whichever is earlier. 2. From time to time after execution hereof, Seller may discover additional reserves on acreage committed to Buyer pursuant to the provisions hereof. Promptly after the time of each such discovery Seller shall furnish Buyer all available basic data required to estimate the gas reserves discovered and a statement showing the amount of such reserves and the amount of reserves in
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Related to Determination of Reserves

  • Determination of Amount In lieu of the payment of the Exercise Price multiplied by the number of Units for which this Purchase Option is exercisable (and in lieu of being entitled to receive Common Stock and Warrants) in the manner required by Section 2.1, the Holder shall have the right (but not the obligation) to convert any exercisable but unexercised portion of this Purchase Option into Units ("Conversion Right") as follows: upon exercise of the Conversion Right, the Company shall deliver to the Holder (without payment by the Holder of any of the Exercise Price in cash) that number of shares of Common Stock and Warrants comprising that number of Units equal to the quotient obtained by dividing (x) the "Value" (as defined below) of the portion of the Purchase Option being converted by (y) the Current Market Value (as defined below). The "Value" of the portion of the Purchase Option being converted shall equal the remainder derived from subtracting (a) (i) the Exercise Price multiplied by (ii) the number of Units underlying the portion of this Purchase Option being converted from (b) the Current Market Value of a Unit multiplied by the number of Units underlying the portion of the Purchase Option being converted. As used herein, the term "Current Market Value" per Unit at any date means the remainder derived from subtracting (x) the exercise price of the Warrants multiplied by the number of shares of Common Stock issuable upon exercise of the Warrants underlying one Unit from (y) the Current Market Price of the Common Stock multiplied by the number of shares of Common Stock underlying the Warrants and the Common Stock issuable upon exercise of one Unit. The "Current Market Price" of a share of Common Stock shall mean (i) if the Common Stock is listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), the last sale price of the Common Stock in the principal trading market for the Common Stock as reported by the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock is not listed on a national securities exchange or quoted on the Nasdaq National Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor such as the Bulletin Board Exchange), but is traded in the residual over-the-counter market, the closing bid price for the Common Stock on the last trading day preceding the date in question for which such quotations are reported by the Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the fair market value of the Common Stock cannot be determined pursuant to clause (i) or (ii) above, such price as the Board of Directors of the Company shall determine, in good faith.

  • Determination of Rates Promptly after the determination of any interest rate provided for herein or any change therein, the Administrative Agent shall notify the Lenders to which such interest is payable and the Borrower thereof. Each determination by the Administrative Agent of an interest rate or fee hereunder shall, except in cases of manifest error, be final, conclusive and binding on the parties.

  • Determination of Amounts Whenever a Priority Debt Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any First-Out Obligations (or the existence of any commitment to extend credit that would constitute First-Out Obligations), or Second-Out Obligations, or the existence of any Lien securing any such obligations, or the Shared Collateral subject to any such Lien, it may request that such information be furnished to it in writing by the other Priority Debt Representative and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that if a Priority Debt Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Priority Debt Representative shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Borrower. Each Priority Debt Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to the Borrower or any of their subsidiaries, any Priority Secured Party or any other Person as a result of such determination.

  • RECONCILIATION OF RESERVE ACCOUNT Beginning Reserve Account Balance Reserve Account Deposits Made Reserve Account Draw Amount Ending Reserve Account Balance Change in Reserve Account Balance Specified Reserve Balance

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Determination of Fair Market Value For purposes of this Section 10.2, “fair market value” of a share of Common Stock as of a particular date (the “Determination Date”) shall mean:

  • Determination of Loss Amount The amount of any Loss subject to indemnification under Section 9.02 or Section 9.03 shall be calculated net of (i) any Tax Benefit actually received by the Indemnitee or any of its Affiliates on account of such Loss within one (1) year of such Loss and (ii) any insurance proceeds or any indemnity, contribution or other similar payment received by the Indemnitee from any third party with respect thereto (including under or pursuant to any insurance policy, title insurance policy, indemnity, reimbursement arrangement or contract pursuant to which or under which such Indemnitee or any of its Affiliates is a party or has rights) (the “Alternative Arrangements”), in each case net of the costs of collection and any increases in premiums or Taxes with respect to such proceeds. If the Indemnitee receives a Tax Benefit within one (1) year after an indemnification payment is made to it, the Indemnitee shall promptly pay to the Indemnitor the amount of such Tax Benefit (up to the amount of the indemnification payments previously made in respect of such Loss) at such time or times as and to the extent that such Tax Benefit is actually realized by the Indemnitee. For purposes hereof, “Tax Benefit” shall mean any refund of Taxes paid or reduction in the amount of Taxes which otherwise would have been paid, in either case realized in cash, net of any related Tax Losses. The Indemnitee shall use commercially reasonable efforts to seek full recovery under all Alternative Arrangements covering any Loss to the same extent as they would if such Loss were not subject to indemnification hereunder. In the event that an insurance or other recovery is made by any Indemnitee with respect to any Loss for which any such Person has been indemnified hereunder, then a refund equal to the aggregate amount of the recovery (up to the amount of the indemnification payments previously made in respect of such Loss) shall be made promptly to the Indemnitor.

  • Determination of Gross-Up Payment Subject to sub-paragraph (c) below, all determinations required to be made under this Section 6, including whether a Gross-Up Payment is required and the amount of the Gross-Up Payment, shall be made by the firm of independent public accountants selected by the Company to audit its financial statements for the year immediately preceding the Change in Control (the "Accounting Firm") which shall provide detailed supporting calculations to the Company and the Executive within 30 days after the date of the Executive's termination of employment. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group affecting the Change of Control, the Executive may appoint another nationally recognized accounting firm to make the determinations required under this Section 6 (which accounting firm shall then be referred to as the "Accounting Firm"). All fees and expenses of the Accounting Firm in connection with the work it performs pursuant to this Section 6 shall be promptly paid by the Company. Any Gross-Up Payment shall be paid by the Company to the Executive within 5 days of the receipt of the Accounting Firm's determination. If the Accounting Firm determines that no Excise Tax is payable by the Executive, it shall furnish the Executive with a written opinion that failure to report the Excise Tax on the Executive's applicable federal income tax return would not result in the imposition of a penalty. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm, it is possible that Gross-Up Payments which will not have been made by the Company should have been made ("Underpayment"). In the event that the Company exhausts its remedies pursuant to sub-paragraph (c) below, and the Executive is thereafter required to make a payment of Excise Tax, the Accounting Firm shall promptly determine the amount of the Underpayment that has occurred and any such Underpayment shall be paid by the Company to the Executive within 5 days after such determination. Amended and Restated Change in Control Agreement

  • Determination of Realized Tax Benefit Section 2.1. Basis Adjustments and Section 704(c) Allocations; The LLC 754 Election.

  • Determination of Net Asset Value The Trustees shall cause the Net Asset Value of Shares of each Series or Class to be determined from time to time in a manner consistent with applicable laws and regulations. The Trustees may delegate the power and duty to determine Net Asset Value per Share to one or more Trustees or officers of the Trust or to a custodian, depository or other agent appointed for such purpose. The Net Asset Value of Shares shall be determined separately for each Series or Class at such times as may be prescribed by the Trustees or, in the absence of action by the Trustees, as of the close of regular trading on the New York Stock Exchange on each day for all or part of which such Exchange is open for unrestricted trading.

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