Common use of Administrative Overhead Clause in Contracts

Administrative Overhead. 2.11.1. An administrative overhead covering services and related office costs of personnel performing administrative, legal, accounting, purchasing, treasury, tax, employee relations, computer services and other functions for the benefit of the Operations provided they are not included elsewhere, shall be charged to the Joint Account monthly. 2.11.2. The charge under the foregoing paragraph shall be for services of all personnel and offices of Operator who are not directly assigned to operations and shall be charged each month at the rate of 12% on total expenditures attributable to Joint Operations in the preceding month, except only 5% shall be charged on expenditures for capital expenditure items. 2.11.3. Notwithstanding anything to the contrary which might be stated in the Accounting Procedure, it is understood that no cost or expenditure included under sections 2.2.1 through 2.10 shall be included or duplicated in the administrative overhead rate charged in this Article 2.11. Further, at any party's request, the rates in 2.11.2 above shall be reviewed annually and adjusted if determined to be inadequate or excessive.

Administrative Overhead. 2.11.1. An administrative overhead covering services and related office costs of personnel performing administrative, legal, accounting, purchasing, treasury, tax, employee relations, computer services and other functions for the benefit of the Operations operations provided they are not included elsewhere, shall be charged to the Joint Account monthly. 2.11.2. The charge under the foregoing paragraph shall be for services of all personnel and offices of Operator operator who are not directly assigned to operations Operations and shall be charged each month at the rate of 12% on total expenditures attributable to Joint Operations in the preceding month, except only 5% shall be charged on expenditures for capital expenditure items. 2.11.3. Notwithstanding anything to the contrary which might be stated in the Accounting Procedure, it is understood that no cost or expenditure included under sections 2.2.1 through 2.10 shall be included or duplicated in the administrative overhead rate charged in this Article 2.11. Further, at any party's request, the rates in 2.11.2 above shall be reviewed annually and adjusted if determined to be inadequate or excessive.

Administrative Overhead. 2.11.1. An administrative overhead covering services and related office costs of personnel performing administrative, legal, accounting, purchasing, treasury, tax, employee relations, computer services and other functions for the benefit of the Operations operations provided they are not included elsewhere, shall be charged to the Joint Account monthly. 2.11.2. The charge under the foregoing paragraph shall be for services of all personnel and offices of Operator who are not directly assigned to operations and shall be charged each month at the rate of 12% on total expenditures attributable to Joint Operations in the preceding month, except only 5% shall be charged on expenditures for capital expenditure items. 2.11.3. Notwithstanding anything to the contrary which might be stated in the Accounting Procedure, it is understood that no cost or expenditure included under sections 2.2.1 through 2.10 shall be included or duplicated in the administrative overhead rate charged in this Article 2.11. Further, at any party's request, the rates in 2.11.2 above shall be reviewed annually and adjusted if determined to be inadequate or excessive.