Effectiveness and Efficacy Sample Clauses

Effectiveness and Efficacy. This Agreement shall be effective for thirty-five (35) years, being valid and in effect as of the date of its execution. Division into phases This Agreement shall be divided into two phases: Exploration Phase, for the whole Contract Area, with expected duration set forth in Annex II; and Production Phase, with the duration defined in paragraph Error: Reference source not found. PRODUCTION SHARING
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Effectiveness and Efficacy. This Agreement shall be effective for thirty-five (35) years, being valid and in effect as of the date of its execution. Division into phases This Agreement shall be divided into two phases: Exploration Phase, for the whole Contract Area, expected duration of which is set forth in Annex II; and Production Phase, duration of which is defined in paragraph Error: Reference source not found. PRODUCTION SHARING SYSTEM SECTION FIVE – RECOVERY AS COST OIL Right to Recovery as Cost Oil Exclusively in case of a Commercial Discovery, the Contracted Party shall be entitled to receive, as Cost Oil, a share of the Oil and Gas Production, according to the terms, criteria, and conditions established in Annex VII. Calculation and Recovery as Cost Oil T he expenditures below shall be recovered as Cost Oil, according to the methodology and procedures provided for in Annex VII: expenditures previously approved by the Operating Committee or those which approval is waived by this Agreement; and expenditures recognized by the Manager. The expenditures below incurred by the Contracted Parties during the period prior to the execution of the Agreement and until creation of the Operating Committee may be recovered as Cost Oil and as long as , cumulatively: related to the collection of data and information, acquisition of governmental licenses, authorizations, and permits; subject to recovery, pursuant to the criteria provided for in Annex VII; and ratified by the Operating Committee, prior to their actual recovery as Cost Oil. Recovery as Cost Oil Expenditures to be recovered as Cost Oil shall be registered in proper account, referred to as Cost Oil account. During the Production Phase, the Contracted Party shall, every month, receive the Production share corresponding to the Cost Oil, observing the limit of the Gross Production Value, defined in Annex XII. Costs that exceed the limits defined and are not recovered as Cost Oil at a certain calendar year shall be accrued for appropriation in the subsequent years. Expenditures recognized as Cost Oil shall be annually adjusted preferably according to the Extended National Consumer Price Index (IPCA) of the Brazilian Institute of Geography and Statistics – IBGE, or according to another index that better reflects the industry expenditures, at the Manager’s discretion, and return on equity is prohibited. The Manager shall be exclusively responsible for managing the calculation, recognition, and recovery of Cost Oil and managing the Cost ...
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Effectiveness and Efficacy. 4.1. This Agreement shall be effective for thirty-five (35) years, being valid and in effect as of the date of its execution.
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Related to Effectiveness and Efficacy

  • Effectiveness of Agreement This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.

  • Counterparts; Integration; Effectiveness This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Agreement.

  • Effectiveness Any notice or other communication in respect of this Agreement may be given in any manner set forth below (except that a notice or other communication under Section 5 or 6 may not be given by facsimile transmission or electronic messaging system) to the address or number or in accordance with the electronic messaging system details provided (see the Schedule) and will be deemed effective as indicated:—

  • TERM OF EFFECTIVENESS AND TERMINATION 8.1. This Agreement takes effect on the Effective Date and shall continue to be in force for , or until all obligations of the Parties have been fully discharged. Unless one Party notifies the other of its intention to terminate this Master Agreement at least 30 (thirty) days prior to the end of the current term, this Agreement will be automatically extended for an identical duration and under the same terms as stipulated herein.

  • Term and Effective Date The Master Contract became effective March 22, 2023, and its term currently ends on August 31, 2027. The Master Contract has five years of renewals available. The Contract will become effective on April 1, 2023, or on the date signed by all Parties, whichever is later. The Contract will expire on August 31, 2027, unless terminated earlier or renewed in accordance with Exhibit B, Special Contract Conditions.

  • Conditions of Effectiveness This Amendment shall become effective as of the first date (the “Amendment Effective Date”) on which, and only if, each of the following conditions precedent shall have been satisfied:

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