Common use of Assignment Nullity and Need for Prior Express Approval Clause in Contracts

Assignment Nullity and Need for Prior Express Approval. Any Assignment that does not comply with the provision in this Section or in the Applicable Laws and Regulations shall be lawfully null and subject to the penalties provided for in this Agreement and in the Applicable Laws and Regulations. ANP shall have a ninety (90)-day period as of submission of the full documentation and as required, under the Applicable Laws and Regulations, to resolve upon the Assignment. The Assignment of the Agreement shall only be authorized, except in the event of paragraph 30.4.2, when: the Concessionaires perform the obligations in the Agreement; and the assignor and the assignee, or the guaranteed party, in the events of exemption or replacement of a performance guarantee, perform all their obligations related to the Government and Third-party shares, in compliance with all concession agreements or production sharing agreement to which they are parties.

Assignment Nullity and Need for Prior Express Approval. Any Assignment that does not comply with the provision in this Section section or in the Applicable Laws and Regulations shall be lawfully null and subject to the penalties provided for in this Agreement and in the Applicable Laws and Regulations. ANP shall have a ninety (90)-day period as of submission of the full documentation and as required, under the Applicable Laws and Regulations, to resolve upon the Assignment. The Assignment of the Agreement shall only be authorized, except in the event of paragraph 30.4.226.5.2, when: the Concessionaires perform the obligations in the Agreement; and the assignor and the assignee, or the guaranteed party, in the events of exemption or replacement of a performance guarantee, perform all their obligations related to the Government and Third-party shares, in compliance with all concession agreements or production sharing agreement to which they are parties.