Common use of Exploration Plan Update Clause in Contracts

Exploration Plan Update. The Contractor shall perform the Exploration activities in accordance with the approved Exploration Plan. If deemed necessary, the Contractor may submit modifications to the Exploration Plan for the approval of the CNH. CNH may consult the Agency and the Ministry of Economy, within the scope of their attributions, regarding the modification proposal and will decide on such modifications within a period not to exceed one hundred and twenty (120) Days following the receipt of the necessary information pursuant to the Applicable Laws.

Exploration Plan Update. The Contractor shall perform the Exploration activities in accordance with the approved Exploration Plan. If deemed necessary, the Contractor may submit modifications to the Exploration Plan for the approval of the CNH. The CNH may consult the Agency and the Ministry of Economy, within the scope of their attributions, regarding the modification proposal and will decide on such modifications within a period not to exceed one hundred and twenty (120) Days following the receipt of the necessary information pursuant to the Applicable Laws.

Exploration Plan Update. The Contractor shall perform the Exploration activities in accordance with the approved Exploration Plan. If deemed necessary, the Contractor may submit modifications to the Exploration Plan for the approval of the CNH. CNH may consult the Agency and the Ministry of Economy, within the scope of their attributions, regarding the modification proposal and will decide on such modifications within a period not to exceed one hundred and twenty (120) Days following the receipt of the necessary information pursuant to the Applicable Laws.