Proportionately Reduced definition

Proportionately Reduced means the pro rata reduction of the amount to be paid by Liberty and/or Nytis, as the case may be, with respect to any Well and/or Lease in which Liberty and Nytis do not collectively own a 100% working interest, based on the actual working interest owned by Liberty and Nytis, collectively, in such Well and/or Lease.
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Proportionately Reduced means the pro rata reduction of the amount to be paid by Carbon TN Mining Co and/or Nytis, as the case may be, with respect to any Well and/or Lease in which Carbon TN Mining Co and Nytis do not collectively own a 100% working interest, based on the actual working interest owned by Carbon TN Mining Co and Nytis, collectively, in such Well and/or Lease.
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Proportionately Reduced means reduced in the proportion which the number of contractual hours during the period of part-time service in the employment, bears to the number of contractual hours of that employment if it were on a whole-time basis.
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Examples of Proportionately Reduced in a sentence

  • Upon completion of the Carry Xxxxx, the parties may proceed to drill additional Xxxxx in the Program Area in accordance with the terms of the Operating Agreement on a heads up basis: Nytis 60% and Liberty 40%, each Proportionately Reduced.

  • Upon completion of the Carry Xxxxx, the parties may proceed to drill additional Horizontal Xxxxx on the Berea Sandstone Program in accordance with the terms of the Operating Agreement on a heads up basis: Nytis 60% and Liberty 40%, each Proportionately Reduced.

  • In addition to the amounts Liberty is required to pay pursuant to Section 3.1, Liberty shall pay to Nytis a spud fee for each Well drilled within the Program Area equal to $10,000.00, Proportionately Reduced to Nytis’ initial working interest in such Well (the “Spud Fee”).

Related to Proportionately Reduced

  • Proportionately means that the ratio of the actual Annual Special Tax levy to the applicable Special Tax is equal for all applicable Assessor’s Parcels.

  • Proportional Share means the annual revenue of a health care institution received in the form of medical assistance reim- bursement or public employee insurance from the state, divided by the total annual revenue of the health care institution.

  • Decrease means a Mandatory Decrease or a Voluntary Decrease, as applicable.

  • Proportionate Percentage means the percentage that expresses the ratio of (x) the number of issued and outstanding shares of capital stock of the Company (on an as converted basis) then owned of record by such stockholder over (y) the aggregate number of outstanding shares of capital stock of the Company (on an as converted basis).

  • Proportionate Interest has the meaning specified in Section 2.5(d);

  • Proportion means, in relation to a Bank:

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • Classes The Offered Certificates shall be issued with the following Class designations, interest rates and principal balances, subject in the aggregate to the variance referred to in Section 1(a)[and, as to any particular Class, to an upward or downward variance of up to [ ]%]: Principal Interest Class Purchase Class Balance Rate Price Percentage ----- ------- ---- ----------------

  • Apportionable vehicle means (except as provided below) any Power Unit that is used or intended for use in two or more Member Jurisdictions and that is used for the transportation of persons for hire or designed, used, or maintained primarily for the transportation of property, and:

  • Proportional Takeover Bid means an off-market bid that is made or purports to be made under section 618(1)(b) of the Corporations Act in respect of a specified proportion of shares included in a class of shares in the Company; and

  • Increase has the meaning specified therefor in Section 2.14.

  • Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and

  • Apportionable income means the gross income of the business taxable under the service classifications of a city's gross receipts tax, including income received from activities outside the city if the income would be taxable under the service classification if received from activities within the city, less any exemptions or deductions available.

  • Total Contract Value means contract value plus statutory dues like GST etc. and any other amount payable under contract.

  • PAR means phase angle regulator.

  • Relevant Proportion means, at any time, the proportion which one Note bears to the number of all of the Notes outstanding;

  • Adjusted means lost values are not included in the calculation of the prior year’s taxes and new values are not included in the current year’s taxable values.

  • The Contract Value means the amount payable to the Bidder under the contract for the full and proper performance of its contractual obligations.

  • Contract Value means that portion of the Contract Price adjusted to give effect to such additions or deductions as are provided for in the Contract which is properly apportion-able to the Goods or Services in question.

  • Local share means, in the case of a school facilities project to

  • Related Classes As to any Uncertificated REMIC I Regular Interest, those classes of Certificates identified as "Related Classes of Certificates" to such Uncertificated REMIC I Regular Interest in the definition of Uncertificated REMIC I Regular Interest.

  • Subdivider means a person who causes land to be subdivided or who proposes a subdivision

  • Reduction means measures designed to reduce or eliminate human exposure to lead-based paint hazards through methods including interim controls and abatement.

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Gross combination weight rating means the value specified by the manufacturer as the loaded weight of a combination or articulated vehicle;

  • Round means a set of operations described in Paragraph 6. The Round ends as soon as the period of time Δt is elapsed;