RE: NI is back .....23 Nov 2019 09:58
Sorry my error found the relevant bit
BHP will also receive a share of pre-tax net cash flow from the BHP Assets under a Net Cash Flow Sharing Deed ("NCFSD") on the same terms as the net cash flow sharing deed entered into as part of the BP Transaction. BHP will receive a share of pre-tax net cash flow from the BHP Assets of 60% for the remainder of 2018, 50% in 2019 and 40% in each of 2020 and 2021. The net cash flow shares are calculated on a monthly basis. No amounts are payable by Serica UK unless this cash flow is positive and amounts are repayable to Serica UK in the event of negative cash flow, up to the amount of prior payments made to BHP in the same year. Excess losses in a year are carried forward to be offset against future income. As a constituent part of the calculation of the Monthly Net Cash Flow Payment, Serica shall, subject to the terms of the NCFSD, be entitled to propose the carrying out of Necessary Investment Works and / or Discretionary Investment Works.