Terms Used In Alaska Statutes > Title 43 > Chapter 90 - Alaska Gasline Inducement Act

• affiliate: means another person that controls, is controlled by, or is under common control with a person, and includes a division that operates as a functional unit. See Alaska Statutes 43.90.900
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• applicant: means a person or group of persons that files an application for a license. See Alaska Statutes 43.90.900
• commencement of commercial operations: means the first flow of gas in the project that generates revenue to the owners. See Alaska Statutes 43.90.900
• commissioners: means the commissioner of revenue and the commissioner of natural resources, acting jointly. See Alaska Statutes 43.90.900
• control: means the possession of ownership interest or authority sufficient to, directly or indirectly, and whether acting alone or in conjunction with others, direct or cause the direction of the management or policies of a company, and is rebuttably presumed if the voting interest held is 10 percent or more. See Alaska Statutes 43.90.900
• coordinator: means the person appointed under Alaska Stat. See Alaska Statutes 43.90.900
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• gas treatment plant: means a facility downstream of the point of production that conditions gas and removes nonhydrocarbon substances from the gas for the purpose of rendering the gas acceptable for tender and acceptance into a gas pipeline system. See Alaska Statutes 43.90.900
• governing body: means a corporation's board of directors, a limited liability company's managing members, a partnership's general partners, a joint venturer's joint venturers, a governmental authority's board or council members, and similar entities. See Alaska Statutes 43.90.900
• lease: means an oil and gas, or gas, lease issued by this state. See Alaska Statutes 43.90.900
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• lessee: means a person that holds a working interest in an oil and gas, or gas, lease issued by this state. See Alaska Statutes 43.90.900
• license: means a license issued under this chapter. See Alaska Statutes 43.90.900
• licensee: means the holder of a license issued under this chapter and all affiliates, successors, assigns, and agents of the holder. See Alaska Statutes 43.90.900
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• net present value: means the discounted value of a future stream of cash flow. See Alaska Statutes 43.90.900
• North Slope: means that part of the state that lies north of 68 degrees North latitude. See Alaska Statutes 43.90.900
• open season: means the process that complies with 18 C. See Alaska Statutes 43.90.900
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• point of production: has the meaning given in AS 43. See Alaska Statutes 43.90.900
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• project: means a natural gas pipeline project authorized under a license issued under this chapter. See Alaska Statutes 43.90.900
• proprietary: when used to describe information, means that the information is treated by an applicant as confidential and the public disclosure of that information would adversely affect the competitive position of the applicant or materially diminish the commercial value of the information to the applicant. See Alaska Statutes 43.90.900
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• sanction: means to make financial commitments to go forward with the project as evidenced by entering into financial commitments of at least $1,000,000,000 with third parties. See Alaska Statutes 43.90.900
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• trade secret: has the meaning given in Alaska Stat. See Alaska Statutes 43.90.900
• under common control with: has the meaning given "control" in this section. See Alaska Statutes 43.90.900
• unit agreement: means an agreement executed by the working interest owners and royalty owners creating the unit. See Alaska Statutes 43.90.900