Terms Used In Alaska Statutes > Title 43 > Chapter 90 > Article 3 - Resource Inducements

• 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
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• 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
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• lease: means an oil and gas, or gas, lease issued by this state. See Alaska Statutes 43.90.900
• 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
• 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
• North Slope: means that part of the state that lies north of 68 degrees North latitude. See Alaska Statutes 43.90.900
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• open season: means the process that complies with 18 C. See Alaska Statutes 43.90.900
• person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
• project: means a natural gas pipeline project authorized under a license issued under this chapter. 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.
• state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
• unit agreement: means an agreement executed by the working interest owners and royalty owners creating the unit. See Alaska Statutes 43.90.900