Reconciliation and Adjustment of Inventories. Adjustments to the Joint Account resulting from the reconciliation of a physical inventory shall be made within six months following the taking of the inventory. Inventory adjustments shall be made by Operator to the Joint Account for overages and shortages, but, Operator shall be held accountable only for shortages due to lack of reasonable diligence.
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Sources: Joint Operating Agreement, Participation Agreement (New Source Energy Partners L.P.), Operating Agreement (RICHFIELD OIL & GAS Co)
Reconciliation and Adjustment of Inventories. Adjustments to the Joint Account resulting from the reconciliation of a physical inventory shall be made within six months ninety (90) days following the taking of the inventory. Inventory adjustments shall be made by Operator to the Joint Account for overages and shortages, but, but Operator shall be held accountable only for shortages due to lack of reasonable diligence.
Appears in 3 contracts
Sources: Agreement for the Construction, Ownership, and Operation of Midstream Assets (Epsilon Energy Ltd.), Agreement for the Construction, Ownership, and Operation of Midstream Assets (Epsilon Energy Ltd.), Agreement for the Construction, Ownership, and Operation of Midstream Assets (Epsilon Energy Ltd.)
Reconciliation and Adjustment of Inventories. Adjustments to the Joint Account resulting from the reconciliation of a physical inventory shall be made within six months following the taking of the inventory. inventory Inventory adjustments shall be made by Operator to the Joint Account for overages and shortages, but, Operator shall be held accountable only for shortages due to lack of reasonable diligence.
Appears in 2 contracts
Sources: Sale Agreement, Sale of Properties (West Texas Resources, Inc.)
Reconciliation and Adjustment of Inventories. Adjustments to the Joint Account resulting from the reconciliation of a physical inventory shall be made within six months following the taking of the inventory. Inventory adjustments shall be made by Operator to the Joint Account for overages and shortages, but, Operator shall be held accountable only for shortages due to lack of reasonable diligence.
Appears in 1 contract
Sources: Limited Partnership Agreement (Dynegy Energy Partners Lp)
Reconciliation and Adjustment of Inventories. Adjustments to the Joint Account resulting from the reconciliation of a physical inventory shall be made within six months following the taking of the inventory. , Inventory adjustments shall be made by Operator to the Joint Account for overages and shortages, but, Operator shall be held accountable only for shortages due to lack of reasonable diligence.
Appears in 1 contract
Sources: Offshore Operating Agreement (Ridgewood Energy P Fund LLC)
Reconciliation and Adjustment of Inventories. Adjustments to the Joint Account resulting from the reconciliation of a physical inventory shall be made within six months following the taking of the inventory. Inventory adjustments shall be made by Operator to the Joint Account for for
A. A.P.L. FORM 610 β MODEL FORM OPERATING AGREEMENT- 1989 overages and shortages, but, Operator shall be held accountable only for shortages due to lack of reasonable diligence.
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