Reconciliation and Adjustment of Inventories. Reconciliation of inventory with charges to the Joint Account shall be made, and a list of overages and shortages shall be furnished, to the Management Committee within six months after the inventory is taken. Inventory adjustments shall be made by the Operator to the Joint Account for overages and shortages, but the Operator shall be held accountable to the Joint Venture only for shortages due to lack of reasonable diligence.
Appears in 3 contracts
Samples: Joint Venture Agreement (Southern Energy Company, Inc.), Joint Venture Agreement (Siga Resources Inc.), Joint Venture Agreement (Siga Resources Inc.)
Reconciliation and Adjustment of Inventories. Reconciliation of inventory with charges to the Joint Account shall be made, and a list of overages and shortages shall be furnished, furnished to the Management Committee within six (6) months after the inventory is taken. Inventory adjustments shall be made by the Operator to the Joint Account for overages and shortages, but the Operator shall be held accountable to the Joint Venture only for shortages due to lack of reasonable diligence.. EXHIBIT C NET PROCEEDS CALCULATION
Appears in 2 contracts
Samples: Joint Venture Agreement (Stirrup Creek Gold LTD), Joint Venture Agreement (Stirrup Creek Gold LTD)
Reconciliation and Adjustment of Inventories. Reconciliation of inventory with charges to the Joint Account shall be made, and a list of overages and shortages shall be furnished, furnished to the Management Committee within six 6 months after the inventory is taken. Inventory adjustments shall be made by the Operator Manager to the Joint Account for overages and shortages, but the Operator Manager shall be held accountable to the Joint Venture only for shortages due to lack of reasonable diligence.
Appears in 1 contract
Reconciliation and Adjustment of Inventories. Reconciliation of inventory with charges to the Joint Account shall be made, and a list of overages and shortages shall be furnished, furnished to the Management Committee Non-Operators within six months after following the inventory is takentaking of the inventory. Inventory adjustments shall be made by the Operator to with the Joint Account for overages and shortages, but the Operator shall be held accountable to the Joint Venture only for shortages due to lack of reasonable diligence.
Appears in 1 contract
Samples: Operating Agreement (Enterprise Products Partners L P)
