Assignments of Areas in Production Phase. 28.7 The assignment of rights and obligations of part of a field will not be allowed, except as an alternative to an unaccomplished agreement of production individualization, at the sole discretion of ANP.
Assignments of Areas in Production Phase. The assignment of rights and obligations of part of a field will not be allowed, except as an alternative to an unaccomplished agreement of production individualization, at the sole discretion of the Contractor, after ANP is heard. The consortium must always contain, at most, 7 (seven) members. Documents Needed The requests for Assignment of rights and obligations should be forwarded to ANP, which will examine the relevant documentation and shall deliver its opinion to the Contractor. The documents that prove the compliance, per each one of the transferees, with the technical, legal and economic requirements required by the Contractor, after ANP is heard, will not be requested when the transferee has already been qualified in the same modality required for this Contract, provided the documentation is updated. Invalidity of the Assignment of Rights and Obligations and the Need for Prior and Expressed Approval Any Assignment of rights and obligations that do not comply with the provisions of this Clause shall be null for full duty. The assignment of this Contract, by any means, without prior and express approval of the Contractor, after ANP is heard, shall be considered null and constitutes a punishable infraction, as provided for in Clause Twenty-Nine - Non fulfillment Concerning Penalties of this Contract and in the Applicable Law. Approval of the Assignment ANP will have a deadline of 90 (ninety) days, after receiving the request and the documents referred to in paragraph 3.9 to forward its opinion to the MME in respect of the intended Transfer. ANP may require changes or demand additional documents to support the analysis. Such modifications or requirements must be met within 30 (thirty) days from the request by ANP, giving back to this, after the submission of all documentation requested, the period referred to in paragraph 3.12. After receiving the opinion of ANP, the MME will respond on the request for Transfer within a period of 60 (sixty) days. The process of Assignment of rights and obligations will be archived when they are not complied with the requests of ANP within the given deadline. Within a period of up to 30 (thirty) days after the effectuation of the Assignment of rights and obligations, the Contracted Party must deliver to ANP copies of the Consortium Contract or agreement of amendment of the Consortium Contract, duly signed, as well as the publication of their archiving certificate in the competent Commercial Registry. The approval of th...
Assignments of Areas in Production Phase. 55 Documents Needed 55 Invalidity of the Assignment of Rights and Obligations and the Need for Prior and Expressed Approval 55 Approval of the Assignment 55 Realization of the Assignment 56 New Production Sharing Contract 56 31 Clause Thirty One - Relative Non Fulfillment and Penalties 56 Legal and Contractual Sanctions 56 32 Clause Thirty Two - Termination and Resolution of the Contract 57 Full Right Termination 57 Termination by Agreement among the Parties: Rescission 57 Termination by Absolute Non Fulfillment: Resolution 57 Consequences of the Resolution 58 Option for Sanctions 58 33 Thirty-Third Clause - Unforeseeable Circumstances, Force Majeure and Similar Causes 59 Total or Partial Exemption 59 Suspension of the Course of the Term of this Contract 59 Modification and Termination of the Contract 59 Environmental Licensing 59 Losses 60
Assignments of Areas in Production Phase. The assignment of rights and obligations of part of a field will not be allowed, except as an alternative to an unaccomplished agreement of production individualization, at the sole discretion of ANP. Participation of the Concessionaire Each one of the members of the Consortium, without prejudice to the provisions of paragraph 14.5 1.5 should hold, all the time, at least 5% (five percent) of participation in the Concession Area.
Assignments of Areas in Production Phase. 55 Documents Needed 55 Invalidity of the Assignment of Rights and Obligations and the Need for Prior and Expressed Approval 55 Approval of the Assignment 55 Realization of the Assignment 56 New Production Sharing Contract 56 31 CLAUSE THIRTY ONE - RELATIVE NON FULFILLMENT AND PENALTIES 56 Legal and Contractual Sanctions 56 32 CLAUSE THIRTY TWO - TERMINATION AND RESOLUTION OF THE CONTRACT 57 Full Right Termination 57 Termination by Agreement among the Parties: Rescission 57 Termination by Absolute Non Fulfillment: Resolution 57 Consequences of the Resolution 58 Option for Sanctions 58 33 THIRTY-THIRD CLAUSE - UNFORESEEABLE CIRCUMSTANCES, FORCE MAJEURE AND SIMILAR CAUSES 59 Total or Partial Exemption 59 Suspension of the Course of the Term of this Contract 59 Modification and Termination of the Contract 59 Environmental Licensing 59 Losses 60 34 THIRTY-FOURTH CLAUSE - CONFIDENTIALITY 60 Obligation of the Contracted Party 60 Liability of the Contractor and ANP 61 35 CLAUSE THIRTY FIVE – NOTIFICATIONS, REQUESTS, COMMUNICATIONS AND REPORTS 61 Validity and Effectiveness 62 Amendments to the Acts of Incorporation 62 36 CLAUSE THIRTY SIX - LEGAL REGIME 62 Applicable Law 62 Conciliation 62
