Common use of Costs and Reimbursements Clause in Contracts

Costs and Reimbursements. Company will be responsible for and pay one hundred percent (100%) of all Well Costs, risks and expenses incurred in the performance of all well operations conducted by Company for the interests to be earned and in accord with Article 5. 1. Expenditures, accounting procedures, maintenance of records, reimbursement of costs and payment of invoices by Company to Chevron will be conducted in accordance with the terms of the Operating Agreement, including but not limited to, Article 5.5 (Records), Article 8 (Expenditures) and the Accounting Procedure in Exhibit "C" thereto, in the same manner as if the farmout well had been a well drilled under the terms of the Operating Agreement.