Disposition of Production Sample Clauses

Disposition of Production. Neither Member shall have any obligation to account to the other Member for, nor have any interest or right of participation in any profits or proceeds nor have any obligation to share in any losses from, futures contracts, forward sales, trading in puts, calls, options or any similar hedging, price protection or marketing mechanism employed by a Member with respect to its proportionate share of any Products produced or to be produced from the Properties.

Disposition of Production. 22.1 Take-in-Kind Facilities Subject to Article 22.2, a Party may, at its sole cost and risk, construct Take-in-Kind Facilities to take its share of Hydrocarbon production in kind.

Disposition of Production. On a monthly basis, all Products produced from the Mine during the month shall be apportioned between USI and Sprott in accordance with their Participating Interests on the last day of the month, with the portion apportioned to USI referred to as “USI Products,” and the portion apportioned to Sprott referred to as “Sprott Products.” Except as otherwise set forth in this Section 11.1, the Manager shall sell Products under such arrangements as may be approved by the Management Committee from time to time. Products shall be sold in the order in which produced, and the proceeds of each sale of Products shall be distributed to the Participants in accordance with their Participating Interests. Nothing in this Agreement shall be construed as providing, directly or indirectly, for any joint or cooperative marketing or selling of Products or permitting the processing of Products owned by any third party at any processing facilities constructed by the Participants pursuant to this Agreement. If a Participant either (a) elects not to contribute to a Program and Budget as provided in Subsection 9.5(a), (b) fails to contribute to an adopted Program and Budget that provides for cash contributions for operating costs, or (c) fails to make required cash calls for operating costs pursuant to Section 10.2, then the Manager may sell that Participant’s share of Products and apply the proceeds from such sales to pay that Participant’s share of such operating costs. Any balance remaining from the noncontributing Participant’s share of the proceeds from such sales shall be remitted to that Participant. In the event of such a sale by the Manager on behalf of a noncontributing Participant, that Participant’s Participating Interest shall not be reduced pursuant to Subsection 9.5(b), unless and only to the extent that the proceeds from such sales are insufficient to pay that Participant’s share of operating costs. For purposes of this Section 11.1, “operating costs” shall not include any capital expenditures, other than replacement capital costs.

Disposition of Production. 57 22.1 Take-in-Kind Facilities ..........................................................................57 22.2 Duty to Take-in-Kind .............................................................................57 22.3 Failure to Take Oil and Condensate in-Kind .......................................................58 22.4 Failure to Take Gas in-Kind ......................................................................58 22.5 Expenses of Delivery in-Kind .....................................................................58

Disposition of Production. (a) As provided in Sec• tion 27(a)(2) of the Act, the Lessor shall have the right to purchase not more than 16-2/3 percent by volume of the oi l and gas produced pursuant to the lease at the regulated price, or i f no regulated price applies, at the fair market value at the well head of the oil and gas saved, removed, or sold, except that any oil or gas obtained by the Lessor as royalty or net profit share shall be credited against the amount that may be purchased under this subsection.

Disposition of Production. 24 11.1. Taking in Kind............................................... 24 11.2. Failure of Participant to Take in Kind....................... 24

Disposition of Production. Taking in Kind 10.02 Failure of Participant to Take in Kind

Disposition of Production. Subject to the second sentence of this Section 5.9, the Company shall from time to time sell or otherwise dispose of any Products produced from the Properties and may, but shall not be obligated, from time to time use futures contracts, forward sales, trading in puts, calls, options and any similar hedging, price protection and/or other marketing mechanisms in connection with such disposition. A Member may elect to receive Products in kind upon payment by such Member to the Company pursuant to an agreement approved by the Management Committee of all additional costs and expenses relating to such Member's taking in kind.

Disposition of Production. 22.1 Facilities to Take in Kind . . . . . . . . . . . . . . . . . . . 34. 22.2 Duty to Take in Kind . . . . . . . . . . . . . . . . . . . . . . 34. 22.3 Failure to Take in Kind. . . . . . . . . . . . . . . . . . . . . 34. 22.4 Expenses of Delivery in Kind.. . . . . . . . . . . . . . . . . . 35. 22.5 Gas Balancing Provisions . . . . . . . . . . . . . . . . . . . . 35. ARTICLE XXIII