What is a difference between Total balance and Payout balance?
Total balance is your total earnings, regardless of the hold period and Payout balance is the funds that will be included in the withdrawal on the payment date.
Total balance may be slightly different from the Payout balance due to some system updates that can take up to 24h for data validation.
Payout Balance means the status, as of the date of the calculation, of the recovery by Seller or a Third Party of a cost amount specified in the contract relating to a Well out of the revenue from such Well where the Net Revenue Interest of Seller therein will be reduced or Seller’s Working Interest therein will be increased when such amount has been recovered.
Payout Balance means with respect to any Well in which the Working Interest of a Seller in such Well will be increased or decreased, or the Net Revenue Interest of Seller in such Well will be increased, under any applicable Contracts (including non-consent penalties under any operating agreements) as a result of the production of certain volumes or revenues attributable to Hydrocarbons produced from such Wells (or the payment of cash amounts in lieu thereof) after such date of determination, the remaining Hydrocarbon volumes or revenues attributable to Hydrocarbon production from such Wells (or the payment of cash amounts in lieu thereof) until such increases or decrease
Examples of Payout Balance in a sentence
Based on information given to EOLP by third-party operators for each such Well, the Payout Balance and payout consequence for each Well included in the Properties that has a payout consequence is properly reflected on Schedule 5.14 as of the respective dates shown thereon.
Schedule 3.19 contains a list, which is complete and accurate in all material respects, of the status of the Payout Balance, as of the Effective Time, for each Well in which the Seller has an interest.
The Payout Balance for each Well is properly reflected in Schedule “3.11A” as of the respective date(s) shown thereon.
The Payout Balance for any Well is properly reflected on Schedule 7.1(FF) as of the respective dates shown thereon.
The Payout Balance for any Purchased Well is properly reflected on Schedule 4.1(l) as of the respective dates shown thereon.