Production Program Overruns definition

Production Program Overruns means all Production Program Costs which exceed those estimated under a Production Program;
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Examples of Production Program Overruns in a sentence

  • If the Excess Production Program Overruns are approved by the Management Committee, each Participant shall, within 15 days after the receipt of a written request from the Operator, provide the Operator with its Cost Share of such Excess Production Program Overruns.

  • If such Production Program Overruns are accepted by the Participants then, within 30 days after the receipt of a written request from the Operator, each Participant shall pay to the Operator its Cost Share of such Production Program Overruns.

  • If Production Program Overruns are estimated to exceed by 10% those estimated under the Production Program (herein called "Excess Production Program Overruns"), the notice of the Operator shall contain a notice of a meeting of the Management Committee, to be held no sooner than 5 Business Days after the date of delivery of the notice, for the purpose of considering, and if deemed advisable, approving the Excess Production Program Overruns.

  • If Production Program Overruns are estimated to exceed by 15% those estimated under the Production Program (herein called “Excess Production Program Overruns”), the notice of the Operator shall contain a notice of a meeting of the Management Committee, to be held no sooner than five Business Days after the date of delivery of the notice, for the purpose of considering, and if deemed advisable, approving the Excess Production Program Overruns.

  • If Excess Production Program Overruns are not approved by the Management Committee, as provided in §9.5, the Operator shall have the right to curtail or abandon the Production Program.

  • An election to contribute to a Production Program shall make a Participant liable to pay its Cost Share of all of the Production Program Costs actually incurred under or pursuant to such Production Program, including Production Program Overruns (as hereinafter defined) up to but not exceeding 15%.

  • If any one Joint Operator does not accept such Production Program Overruns, or fails to pay its Cost Share of such Production Program Overruns (the "Non-Contributing Joint Operator"), the other Joint Operator (the "Contributing Joint Operator") will be entitled to pay the Cost Share of the Non-Contributing Joint Operator.

  • If it appears to the Operator that Production Program Costs will exceed those estimated under the Production Program, the Operator shall immediately give written notice to the Participants outlining the nature and extent of the additional costs and expenses (herein called "Production Program Overruns") and the reasons therefor.

  • If Excess Production Program Overruns are not approved by the Management Committee, as provided in paragraph 8.5, the Operator shall be responsible for them but shall have the right to curtail or abandon the Production Program unless a Participant that has approved such Excess Production Program Overruns has advanced the amount of such Excess Production Program Overruns.

  • If any Participant does not accept such Production Program Overruns, or fails to pay the same, the Operator shall be entitled to either curtail the Production Program, or may elect to bear the Production Program Overruns, in which event it will be entitled to recoup such amount together with interest at the Prime Rate plus three percent pursuant to Section 18.

Related to Production Program Overruns