Sale and return of Material. The Technical Services Provider shall have the right to dispose of surplus Materials, but shall obtain the approval of the Operator for all dispositions of Materials with an aggregate original purchase cost of NOK 5,000,000 or more. When Material is returned to the Technical Services Provider or Affiliated Companies, the Account shall be credited with a percentage of the current average purchase price of new Material as stated in the condition code, see item 2.1.3 a. Used Material that can be repaired, shall be credited at 50% of the value of Condition "1" Material. Scrap Material shall be credited at prevailing prices.
Appears in 3 contracts
Sources: Technical Services Agreement, Gas Transportation Agreement (Statoil Asa), Gas Transportation Agreement (Statoil Asa)
Sale and return of Material. The Technical Services Provider shall have the right to dispose of surplus Materials, but shall obtain the approval of the Operator for all dispositions of Materials with an aggregate original purchase cost of NOK 5,000,000 500,000 or more. When Material is returned to the Technical Services Provider or Affiliated Companies, the Account shall be credited with a percentage of the current average purchase price of new Material as stated in the condition code, see item 2.1.3 .
3 a. Used Material that can be repaired, shall be credited at 50% of the value of Condition "“1" ” Material. Scrap Material shall be credited at prevailing prices.
Appears in 1 contract