Common use of Declaration of Commercial Feasibility Clause in Contracts

Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Discovery Assessment Plan approved by ANP, the Operating Committee may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery. If it has not been submitted to ANP yet, the Final Discovery Assessment Report shall be submitted along with the Declaration of Commercial Feasibility. The Declaration of Commercial Feasibility shall only be effective upon approval of the Final Discovery Assessment Report by ANP. Failure to submit the Declaration of Commercial Feasibility within the term contractually established shall entail the lawful termination of the Agreement with respect to the relevant area retained for the Discovery Assessment. The submission of one or more Declarations of Commercial Feasibility shall not exempt the Consortium Members from complying with the Minimum Exploration Program.

Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Discovery Assessment Plan approved by ANP, the Operating Committee Concessionaire may, at its sole discretion, submit the Declaration of Commercial Feasibility for the DiscoveryDiscovery through notice to ANP. If it has not been submitted to ANP yet, the Final Discovery Assessment Report shall be submitted along with accompany the Declaration of Commercial Feasibility. The Declaration of Commercial Feasibility shall only be become effective upon after approval of the Final Discovery Assessment Report by ANP. Failure by the Concessionaire to submit the Declaration of Commercial Feasibility within the term contractually established in a timely manner shall entail the lawful termination of the Agreement with respect to regarding the relevant area retained for the Discovery Assessment. The submission Submission of one or more Declarations of Commercial Feasibility shall not exempt the Consortium Members Concessionaire from complying with performance of the Minimum Exploration Program.

Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Discovery Assessment Plan approved by ANPInitial Work Program, the Operating Committee Concessionaire may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery. If it has not been submitted to ANP yet, the Final Discovery Assessment Rehabilitation Phase Report shall be submitted along with accompany the Declaration of Commercial Feasibility. The Declaration of Commercial Feasibility shall only be become effective upon after approval of the Final Discovery Assessment Report by ANP. Failure by the Concessionaire to submit the Declaration of Commercial Feasibility within the term contractually established in a timely manner shall entail the lawful termination of the Agreement with respect to regarding the relevant area retained for the Discovery Assessment. The submission of one or more Declarations the Declaration of Commercial Feasibility shall not exempt the Consortium Members Concessionaire from complying the compliance with the Minimum Exploration Initial Work Program.

Declaration of Commercial Feasibility. Declaration of Commercial Feasibility Upon compliance with the Discovery Assessment Plan approved by ANP, the Operating Committee Concessionaire may, at its sole discretion, submit the Declaration of Commercial Feasibility for the Discovery. If it has not been submitted to ANP yet, the Final Discovery Assessment Report shall be submitted along with accompany the Declaration of Commercial Feasibility. The Declaration of Commercial Feasibility shall only be become effective upon after approval of the Final Discovery Assessment Report by ANP. Failure by the Concessionaire to submit the Declaration of Commercial Feasibility within the term contractually established in a timely manner shall entail the lawful termination of the Agreement with respect to regarding the relevant area retained for the Discovery Assessment. The submission Submission of one or more Declarations of Commercial Feasibility shall not exempt the Consortium Members Concessionaire from complying with performance of the Minimum Exploration Program.