Common use of Excess Local Content Clause in Contracts

Excess Local Content. If the Contracted Party exceeds the Local Content required in a Development Module, the excess amount, in national currency, may be transferred to the Development Modules to be implemented thereafter. Any excess verified in the Development Modules may be transferred only between the same Macro-Groups. Request for transfer of the excess shall be submitted to ANP within thirty (30) days of the first business day following receipt, by the Operator, of the Local Content Inspection Report of the Production Development Phase or subsequent modules in case of modular Development. The excess monetary amount shall be adjusted by the IGP-M or any other index that may replace it.