English translation: Over-extraction; over-drawing
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Norwegian to English translations [PRO] Law/Patents - Law: Contract(s) / Licence agreement
Norwegian term or phrase:Merruttak
Relating to production licence agreement: Med mindre styringskomiteen har fastsatt en annen kompensasjonsordning, skal fra og med det første Kvartal i det etterfølgende År, 10 % av hver Meruttakers andel stilles til Mindreuttakerens rådighet som kompensasjon til Meruttaket er utlignet.
jeffrey engberg Norway Local time: 23:08 Works in field Native speaker of: English PRO pts in category: 28
Notes to answerer
Asker: I don’t think so here. It's referring to production sharing, whereby each party is entitled to a percentage based on their interest. It states that if a party through no fault of his own extracts less than the volume he is entitled to he is considered a ‘Mindreuttaker’.