COST RECOVERY STATEMENT Clause Samples

A Cost Recovery Statement clause defines how a party will recover costs incurred during the performance of a contract or project. Typically, it outlines the types of expenses that are eligible for reimbursement, the process for submitting claims, and any limitations or documentation required to support the recovery. This clause ensures that parties are fairly compensated for out-of-pocket expenditures and clarifies the financial responsibilities of each party, thereby preventing disputes over cost allocation.
COST RECOVERY STATEMENT. The Contractor shall prepare with respect to each Calendar Quarter a Cost Recovery Statement containing the following information:
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COST RECOVERY STATEMENT. 8.1. The Contractor shall prepare with respect to each Calendar Quarter a Cost Recovery Statement containing the following information: (a) Recoverable Contract Costs carried forward from the previous Calendar Quarter, if any. (b) Recoverable Contract Costs for the Calendar Quarter in question. (c) Total Recoverable Contract Costs, which is that cost at sub-section 8.1 (a) plus that cost at Section 8.1 (b). (d) Quantity and value of Cost Oil taken and disposed of by the Contractor for the Calendar Quarter in question. (e) Contract Costs recovered for the Calendar Quarter in question. (f) Total cumulative amount of Contract Costs to be carried forward into the next Calendar Quarter. 8.2. The information to be submitted under Section 8.1 (d) and (e) above shall be given in separate statements for each Field, so as to indicate together, the Contractor's total allocation of Cost Oil as required under Article 36 of the Agreement. 8.3. The Cost Recovery Statement to be submitted under Section 8.1 shall identify the unrecovered cost of assets for the purpose of Article 24 of the Agreement.
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COST RECOVERY STATEMENT. 8.1 The Contractor shall prepare with respect to each Calendar Quarter a Cost Recovery Statement containing the following information: (a) Recoverable Contract Expenses carried forward from the previous Quarter, if any; (b) Recoverable Contract Expenses for the Quarter in question; (c) total Recoverable Contract Expenses for the Quarter in question (sub- section 8.1(a) plus sub-section 8.1(b); (d) quantity and value of Cost Oil taken and disposed of by the Contractor for the Quarter in question; (e) Contract Expenses recovered for the Quarter in question; (f) total cumulative amount of Contract Expenses recovered up to the end of the Quarter in question; (g) amount of Recoverable Contract Expenses to be carried forward into the next Quarter. 8.2 The cost recovery information required pursuant to sub-section 8.1 above shall be presented in sufficient detail so as to enable Government and TPDC to identify how the cost of assets are being recovered for the purposes of Article 19 of the Agreement. 8.3 The Cost Recovery Statement for each Quarter shall be submitted to Government and TPDC not later than twenty one (21) days after the end of such Quarter.
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COST RECOVERY STATEMENT. Contractor shall prepare each Calendar Quarter in accordance with its obligations, a Cost Recovery statement showing:
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COST RECOVERY STATEMENT. 6.3.1 The Licensee shall prepare with respect to each Calendar Quarter a Cost Recovery statement containing the following information: (a) Recoverable Contract Expenses carried forward unrecovered from the previous Calendar Quarter, if any. (b) Recoverable Contract Expenses for the Calendar Quarter in question. (c) Cumulative recoverable Contract Expenses for the Calendar Quarter in question (i and ii above). (d) Quantity and value of Cost Petroleum taken and disposed of by the Licensee for the Calendar Quarter in question. (e) Contract Expenses recovered during the Calendar Quarter in question as per Article 11. (f) Cumulative amount of Contract Expenses recovered up to the end of the Calendar Quarter in question. (g) Amount of balance recoverable Contract Expenses to be carried forward into the next Calendar Quarter. 6.3.2 The Cost Recovery statement for each Calendar Quarter shall be submitted to Government not later than thirty (30) days after the end of such Calendar Quarter. 6.3.3 An annual Cost Recovery statement shall be submitted as part of end of year statement under Section 6.5 of this Accounting and Financial Procedure within ninety (90) days after the end of each Calendar Year.
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COST RECOVERY STATEMENT. 8.1 The Company shall prepare with respect to each Calendar Quarter a Cost Recovery Statement containing the following information: (a) Recoverable Contract Expenses carried forward from the previous Quarter, if any. (b) Recoverable Contract Expenses for the Quarter in question. (c) Total Recoverable Contract Expenses for the Quarter in question (sub-section 8.1(a) plus sub-section 8.1(b)). (d) Quantity and value of Cost Oil taken and disposed of by the Company for the Quarter in question. (e) Contract Expenses recovered for the Quarter in question. (f) Total cumulative amount of Contract Expenses recovered up to the end of the Quarter in question. (g) Amount of Recoverable Contract Expenses to be carried forward into the next Quarter. 8.2 The cost recovery information required pursuant to sub-section 8.1 above shall be presented in sufficient detail so as to enable Government and T.P.D.C. to identify how the cost of assets are being recovered for the purposes of Article 18 of the Agreement. 8.3 The Cost Recovery Statement for each Quarter shall be submitted to Government and T.P.D.C. not later than twenty one (21) days after the end of such Quarter.
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COST RECOVERY STATEMENT. 7.1 The Concessionaires shall prepare and submit to the Ministries with authority over the sector and the finance sector with respect to each calendar quarter a cost recovery statement (hereinafter referred to as the “Cost Recovery Statement”) containing the following information: (a) Recoverable costs carried forward from the previous quarter, if any. (b) Recoverable costs for the quarter in question. (c) Total recoverable costs for the quarter in question (Subsection 7.1(a) plus Subsection 1(b)). (d) Quantity and value of Cost Petroleum taken proportionally in Crude Oil and Natural Gas (including LNG) by each Concessionaire for the quarter in question. (e) EPCC costs recovered for the quarter in question. (f) Total cumulative amount of EPCC costs recovered up to the end of the quarter in question. (g) Amount of recoverable EPCC costs to be carried forward into the next quarter. The Cost Recovery Statement of each quarter shall be submitted to the Ministries with authority over the Petroleum sector and the finance sector no later than sixty (60) calendar days after the end of such quarter.
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COST RECOVERY STATEMENT 
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Related to COST RECOVERY STATEMENT

  • Cost Recovery Fee You understand and agree that in order for XOOM to offer and fulfill its fixed rate obligation to you, it has to purchase electricity in advance of usage in amounts needed to cover the full term of this Agreement. If you cancel this Agreement early, you will be responsible for paying the cost recovery fee (“Cost Recovery Fee”) set forth in the Contract Summary, which is intended not as a penalty, but simply to offset the cost of selling the unused portion of your electricity to others and estimated lost revenue that XOOM may incur from such a sale, if any, and related expenses. It will take time for your local utility company to cancel your XOOM account. During that time you agree to pay for the electricity you consume that is supplied by XOOM.

  • Cost Recovery for RSTEP Requests by Registry Operator for the approval of Additional Services pursuant to Section 2.1 may be referred by ICANN to the Registry Services Technical Evaluation Panel (“RSTEP”) pursuant to that process at ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇/en/registries/rsep/. In the event that such requests are referred to RSTEP, Registry Operator shall remit to ICANN the invoiced cost of the RSTEP review within fourteen (14) calendar days of receipt of a copy of the RSTEP invoice from ICANN, unless ICANN determines, in its sole and absolute discretion, to pay all or any portion of the invoiced cost of such RSTEP review.

  • Cost Recovery The Parties acknowledge that the price for energy as described in Exhibit A includes the Consultant Commission described in Exhibit A to cover the cost of developing, implementing and operating the Aggregation. The Competitive Supplier agrees to include this cost adder in the Price for energy, and to make the monthly commission payments on behalf of Participating Consumers, in the manner described in Exhibit A, and acknowledges this obligation as a material obligation of this Agreement.

  • Monthly Statements Each month we will send you a statement showing purchases, cash advances, payments, and credits made to your Account during the billing cycle, as well as your “New Balance”, any Finance Charge and any late charges. Your statement also will identify the minimum monthly payment you must make for that billing period and the date it is due. You agree to retain for statement verification copies of transaction slips resulting from each purchase, each advance, and other transactions on your Account. Unless you notify us of a billing error in accordance with the section entitled “Your Billing Rights”, you accept your monthly statement as an accurate statement of your Account with us.

  • Recovery Schedule If the initial schedule or any current updates fail to reflect the Work’s actual plan or method of operation, or a contractual milestone date is more than fifteen (15) days behind, Owner may require that a recovery schedule for completion of the remaining Work be submitted. The Recovery Schedule must be submitted within seven (7) calendar days of Owner’s request. The Recovery Schedule shall describe in detail Construction Contractor’s plan to complete the remaining Work by the required Contract milestone date. The Recovery Schedule submitted shall meet the same requirements as the original Construction Schedule. The narrative submitted with the Recovery Schedule should describe in detail all changes that have been made to meet the Contract milestone dates.