Windfall Profits Sample Clauses

Windfall Profits. When the value of crude oil for any calendar quarter calculated in accordance with Clause 26 of the PSC exceeds United States US$ 50 per barrel FOB Mombasa (hereinafter referred to as the (“Threshold Price”) adjusted for the United States of America’s Consumer Price Index (CPI) whose Effective Date will be from the date of the contract execution then a Second Tier Amount is payable by the Contractor to the Government. Production Sharing Contract Block L16 Ministry of Energy Page 37 The Second Tier Amount will be calculated in respect of each Calendar Quarter according to the following formula: R = CSPO x 26% x (V – Threshold Price) Where;
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Windfall Profits. When the value of crude oil for any calendar quarter calculated in accordance with Clause 26 of the PSC exceeds United States US$ 50 per barrel FOB Mombasa (hereinafter referred to as the (“Threshold Price”) adjusted for the United States of America’s Consumer Price Index (CPI) whose Effective Date will be from the date of the contract execution then a Second Tier Amount is payable by the Contractor to the Government. The Second Tier Amount will be calculated in respect of each Calendar Quarter according to the following formula: R = CSPO x 26% x (V – Threshold Price) Where; R is the Second Tier Amount in US Dollars; V is the value of Crude Oil in U.S. dollars for that Calendar Quarter calculated in accordance with Clause 26 and expressed in US$/bbl, provided that V exceeds the Threshold Price; and CSPO is the Contractor Share of Profit Oil for that Calendar Quarter in bbl calculated pursuant to clause 27(3) (a).
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Windfall Profits. When the value of Crude Oil for any calendar quarter calculated in accordance with clause 26 exceeds US$ 50 per bbl FOB Mombasa(hereinafter referred to as the “Threshold Price”) then a Second Tier Amount is payable by the Contractor to the Government. The Second Tier Amount will be calculated in respect of each calendar quarter according to the following formula: R = CSPO x 26% x (V – Threshold Price) Where; R is the Second Tier Amount in US Dollars; V is the value of crude oil in U.S. dollars for that calendar quarter calculated in accordance with Clause 26 and expressed in US$/bbl, provided that V exceeds the Threshold Price; and CSPO is the Contractor Share of Profit Oil for that calendar quarter in bbl calculated pursuant to clause 27 (3) (a).
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Windfall Profits. Buyer represents and warrants to Seller that none of its prospective principals or employees, during the course of their employment with Consulting, were promised or obtained any significant engagement, as defined below, for the provision of consulting services for periods after September 30, 2001, other than in the ordinary course of business. In consideration of Seller relying upon such representation and warranty, Buyer agrees to pay five percent (5%) of the value of any consulting engagements (not including reimbursable expenses) entered into, provided or billed during the period from October 1, 2001 to December 31, 2001 (a) having gross billings per client (including its affiliates) in excess of $1.0 xxxxion, or (b) any aggregation of engagements having gross billings from all clients in excess of $2.5 million, whichever is xxxxxx. Seller shall have no rights under this Section 15 to any revenues derived from new engagements on or after December 31, 2001.
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Related to Windfall Profits

  • Profits Except as otherwise provided herein, profits for each year of the Partnership shall be allocated among the Partners pro rata in accordance with their respective Partnership Interests as specified on Exhibit B.

  • Distribution of Profits Any and all net income accruing to the Joint Venture shall be distributed equally to the Parties.

  • Net Profits Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:

  • Allocation of Profits Profits for any Year shall be allocated in the following order and priority:

  • Gains Where an error or omission has occurred under this Agreement, the Custodian may take such remedial action as it considers appropriate under the circumstances and, provided that the Fund is put in the same or equivalent position as it would have been in if the error or omission had not occurred, any favorable consequences of the Custodian’s remedial action shall be solely for the account of the Custodian.

  • Operating Losses To the extent there is an Operating Loss for any calendar month, Owner shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after Manager has delivered notice thereof to Owner and any Operating Loss funded by Owner shall be a “Owner Operating Loss Advance.” If Owner does not fund such Operating Loss, Manager shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after such initial twenty (20) day period, and any Operating Loss so funded by Manager shall be an Additional Manager Advance. If neither party elects to fund such Operating Loss, Manager may elect, by notice to Owner given within thirty (30) days thereafter, to terminate this Agreement, which termination shall be effective thirty (30) days after the date such notice is given; upon such termination, Owner shall pay Manager the Termination Fee, within sixty (60) days of the effective date of termination, as liquidated damages and in lieu of any other remedy of Manager at law or in equity and such termination shall otherwise be in accordance with the provisions of Section 11.09.

  • Taxes on Income Each Party shall be solely responsible for the payment of all taxes imposed on its share of income arising directly or indirectly from the efforts of the Parties under this Agreement.

  • Net Losses After giving effect to the special allocations set forth in Section 6.1(d), Net Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Losses for such taxable period shall be allocated as follows:

  • Revenue All revenue from the event activities may be retained by Permittee.

  • Net Profit The current and accumulated operating earnings of the Employer after Federal and state income taxes, excluding nonrecurring or unusual items of income, and before contributions to this and any other Qualified Plan of the Employer, unless the Employer has elected a different definition in the Adoption Agreement. Unless elected otherwise in the Adoption Agreement, Employer contributions to the Plan are not conditioned on profits.

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