MFI-36 Audit Rights of Non Participating and Non Consenting Parties

Most JOA’s do not address audits of Payout Accounts. This document clarifies the audit rights related to a non-participants’s share of expenses for non-consent situations in the absence of specific audit rights in the JOA.   3 pages.  1997.

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Table of Contents

  1. Preface
  2. Problem (Rights in the Absence of Contractual Language)
  3. Interpretation
    1. Audits of Payouts
    2. Adjustments to Payout Statements
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