Common use of Export of Product Clause in Contracts

Export of Product. (a) Notwithstanding anything herein to the contrary, Petrobras hereby agrees to pay the aggregate principal amount and the interest factor accrued thereon as set forth in Exhibit A, by the export and delivery to, or as directed by, Petrobras Finance during each Quarterly Delivery Period commencing on the dates specified in Exhibit A, of Eligible Products having a market value (as described in Section 3.01(b)) equal to the amounts specified in Column (E) of Exhibit A (the "QUARTERLY DELIVERY REQUIREMENT") for each such related Quarterly Delivery Period. Petrobras shall satisfy such obligation during the first 60 days of each Quarterly Delivery Period. Any payment in full of Liquidated Damages made in accordance with Section 3.01(c) shall satisfy the obligations of Petrobras to satisfy the Quarterly Delivery Requirement for the relevant Quarterly Delivery Period. (b) The Initial Prepayment Amount was paid on the Closing Date. It shall be a condition precedent to the payment of the Second Prepayment Amount by Petrobras Finance that (i) all orders, licenses, consents, authorizations, approvals, exemptions or notices of registration of or with any federal, state, municipal or other foreign or domestic governmental department, commission, board, bureau, agency or other foreign or domestic governmental, administrative or judicial authority or regulatory body necessary in connection with the execution, delivery and performance by Petrobras of this Agreement, including without limitation, (A) the registration (Registro de Operacoes Financeiras or "ROF") from the Central Bank of Brazil with respect to the transactions contemplated hereunder in connection with the Second Prepayment Amount, which ROF shall be in full force and effect as of the Second Closing Date and (B) the export registration, each of which shall have been obtained or given and (ii) any filings, recordings, publications or registrations of any kind necessary in connection with the execution, delivery and performance by Petrobras of this Agreement shall have been made, provided, however, that prior registration with the Central Bank of Brazil of Petrobras' payment obligations contained in the Transaction Documents that are not covered by the ROF shall not be a condition precedent to the payment of the Second Prepayment Amount. Petrobras shall obtain the customary export licenses within SISCOMEX prior to each individual export of goods. Amended and Restated Prepayment Agreement (c) Any and all Eligible Products to be delivered by Petrobras hereunder shall be delivered to Petrobras Finance in accordance with and subject to the terms and conditions of the Master Export Contract (including, without limitation, Article II thereof). (d) No oil products other than Heavy Fuel Oil shall be deemed to be Eligible Products except in accordance with the terms and conditions set forth in Section 2.06 of the Master Export Contract. No Sale of such other oil products shall be deemed to be made to Specified Buyers until the Notice and Consent to which the relevant Specified Buyer is a party has been executed or amended to include such other oil products as Eligible Products thereunder. (e) Any Eligible Products delivered under this Agreement shall be of Readily Marketable Quality (as defined in Section 2.3 of the Offtake Contract). None of the obligations of Petrobras under this Agreement (including the obligation of Petrobras to deliver the Eligible Products purchased on the Closing Date and, subject to the payment in full of the Second Prepayment Amount, its obligation to deliver the additional Eligible Products purchased on the Second Closing Date) may be suspended for any reason (including without limitation, as a result of an event of force majeure or the breach by Petrobras Finance of any of its obligations hereunder or under any other Transaction Document to which it is a party).

Export of Product. (a) Notwithstanding anything herein to the contrary, Petrobras hereby agrees to pay the aggregate principal amount and the interest factor accrued thereon as set forth in Exhibit A, by the Prepayment Agreement <PAGE> 11 export and delivery to, or as directed by, Petrobras Finance during each Quarterly Delivery Period commencing on the dates specified in Exhibit A, of Eligible Products having a market value (as described in Section 3.01(b)) equal to the amounts specified in Column (E) of Exhibit A (the "QUARTERLY DELIVERY REQUIREMENT") for each such related Quarterly Delivery Period. Petrobras shall satisfy such obligation during the first 60 days of each Quarterly Delivery Period. Any payment in full of Liquidated Damages made in accordance with Section 3.01(c) shall satisfy the obligations of Petrobras to satisfy the Quarterly Delivery Requirement for the relevant Quarterly Delivery Period. (b) The Initial Prepayment Amount was paid on the Closing Date. It shall be a condition precedent to the payment of the Second Prepayment Amount by Petrobras Finance that (i) all orders, licenses, consents, authorizations, approvals, exemptions or notices of registration of or with any federal, state, municipal or other foreign or domestic governmental department, commission, board, bureau, agency or other foreign or domestic governmental, administrative or judicial authority or regulatory body necessary in connection with the execution, delivery and performance by Petrobras of this Agreement, including without limitation, (A) the registration (Registro de Operacoes Financeiras or "ROF") from the Central Bank of Brazil with respect to this Agreement and the transactions export prepayment transaction contemplated hereunder in connection with the Second Prepayment Amounthereby, which ROF shall be in full force and effect as of the Second Closing Date and (B) the export registration, each of which shall have been obtained or given and (ii) any filings, recordings, publications or registrations of any kind necessary in connection with the execution, delivery and performance by Petrobras of this Agreement shall have been made, provided, however, that prior registration with the Central Bank of Brazil of Petrobras' payment obligations contained in the Transaction Documents that are not covered by the ROF shall not be a condition precedent to the payment of the Second Prepayment Amount. Petrobras shall obtain the customary export licenses within SISCOMEX prior to each individual export of goods. Amended and Restated Prepayment Agreement. (c) Any and all Eligible Products to be delivered by Petrobras hereunder shall be delivered to Petrobras Finance in accordance with and subject to the terms and conditions of the Master Export Contract (including, without limitation, Article II thereof). (d) No oil products other than Heavy Fuel Oil shall be deemed to be Eligible Products except in accordance with the terms and conditions set forth in Section 2.06 of the Master Export Contract. No Sale of such other oil products shall be deemed to be made to Specified Buyers until the Notice and Consent to which the relevant Specified Buyer is a party has been executed or amended to include such other oil products as Eligible Products thereunder. (e) Any Eligible Products delivered under this Agreement shall be of Readily Marketable Quality (as defined in Section 2.3 2.03 of the Offtake Contract). None . (f) Subject to payment in full of the Prepayment Amount on the Closing Date, none of the obligations of Petrobras under this Agreement (including the obligation of Petrobras to deliver the Eligible Products purchased on the Closing Date and, subject to the payment in full of the Second Prepayment Amount, its obligation to deliver the additional Eligible Products purchased on the Second Closing DateProducts) may be suspended for any reason (including without limitation, as a result of an event of force majeure or the breach by Petrobras Finance of any of its obligations hereunder or under any other Transaction Document to which it is a party).. Prepayment Agreement <PAGE> 12

Export of Product. (a) Notwithstanding anything herein to the contrary, Petrobras hereby agrees to pay the aggregate principal amount and the interest factor accrued thereon as set forth in Exhibit A, by the Prepayment Agreement export and delivery to, or as directed by, Petrobras Finance during each Quarterly Delivery Period commencing on the dates specified in Exhibit A, of Eligible Products having a market value (as described in Section 3.01(b)) equal to the amounts specified in Column (E) of Exhibit A (the "QUARTERLY DELIVERY REQUIREMENT") for each such related Quarterly Delivery Period. Petrobras shall satisfy such obligation during the first 60 days of each Quarterly Delivery Period. Any payment in full of Liquidated Damages made in accordance with Section 3.01(c) shall satisfy the obligations of Petrobras to satisfy the Quarterly Delivery Requirement for the relevant Quarterly Delivery Period. (b) The Initial Prepayment Amount was paid on the Closing Date. It shall be a condition precedent to the payment of the Second Prepayment Amount by Petrobras Finance that (i) all orders, licenses, consents, authorizations, approvals, exemptions or notices of registration of or with any federal, state, municipal or other foreign or domestic governmental department, commission, board, bureau, agency or other foreign or domestic governmental, administrative or judicial authority or regulatory body necessary in connection with the execution, delivery and performance by Petrobras of this Agreement, including without limitation, (A) the registration (Registro de Operacoes Financeiras or "ROF") from the Central Bank of Brazil with respect to this Agreement and the transactions export prepayment transaction contemplated hereunder in connection with the Second Prepayment Amounthereby, which ROF shall be in full force and effect as of the Second Closing Date and (B) the export registration, each of which shall have been obtained or given and (ii) any filings, recordings, publications or registrations of any kind necessary in connection with the execution, delivery and performance by Petrobras of this Agreement shall have been made, provided, however, that prior registration with the Central Bank of Brazil of Petrobras' payment obligations contained in the Transaction Documents that are not covered by the ROF shall not be a condition precedent to the payment of the Second Prepayment Amount. Petrobras shall obtain the customary export licenses within SISCOMEX prior to each individual export of goods. Amended and Restated Prepayment Agreement. (c) Any and all Eligible Products to be delivered by Petrobras hereunder shall be delivered to Petrobras Finance in accordance with and subject to the terms and conditions of the Master Export Contract (including, without limitation, Article II thereof). (d) No oil products other than Heavy Fuel Oil shall be deemed to be Eligible Products except in accordance with the terms and conditions set forth in Section 2.06 of the Master Export Contract. No Sale of such other oil products shall be deemed to be made to Specified Buyers until the Notice and Consent to which the relevant Specified Buyer is a party has been executed or amended to include such other oil products as Eligible Products thereunder. (e) Any Eligible Products delivered under this Agreement shall be of Readily Marketable Quality (as defined in Section 2.3 2.03 of the Offtake Contract). None . (f) Subject to payment in full of the Prepayment Amount on the Closing Date, none of the obligations of Petrobras under this Agreement (including the obligation of Petrobras to deliver the Eligible Products purchased on the Closing Date and, subject to the payment in full of the Second Prepayment Amount, its obligation to deliver the additional Eligible Products purchased on the Second Closing DateProducts) may be suspended for any reason (including without limitation, as a result of an event of force majeure or the breach by Petrobras Finance of any of its obligations hereunder or under any other Transaction Document to which it is a party).. Prepayment Agreement

Export of Product. (a) Notwithstanding anything herein to the contrary, Petrobras hereby agrees to pay the aggregate principal amount and the interest factor accrued thereon as set forth in Exhibit A, by the export and delivery to, or as directed by, Petrobras Finance during each Quarterly Delivery Period commencing on the dates specified in Exhibit A, of Eligible Products having a market value (as described in Section 3.01(b)) equal to the amounts specified in Column (E) of Exhibit A (the "QUARTERLY DELIVERY REQUIREMENT") for each such related Quarterly Delivery Period. Petrobras shall satisfy such obligation during the first 60 days of each Quarterly Delivery Period. Any payment in full of Liquidated Damages made in accordance with Section 3.01(c) shall satisfy the obligations of Petrobras to satisfy the Quarterly Delivery Requirement for the relevant Quarterly Delivery Period. (b) The Initial Prepayment Amount was paid on the Closing Date. It shall be a condition precedent to the payment of the Second Prepayment Amount by Petrobras Finance that (i) all orders, licenses, consents, authorizations, approvals, exemptions or notices of registration of or with any federal, state, municipal or other foreign or domestic governmental department, commission, board, bureau, agency or other foreign or domestic governmental, administrative or judicial authority or regulatory body necessary in connection with the execution, delivery and performance by Petrobras of this Agreement, including without limitation, (A) the registration (Registro de Operacoes Financeiras or "ROF") from the Central Bank of Brazil with respect to the transactions contemplated hereunder in connection with the Second Prepayment Amount, which ROF shall be in full force and effect as of the Second Closing Date and (B) the export registration, each of which shall have been obtained or given and (ii) any filings, recordings, publications or registrations of any kind necessary in connection with the execution, delivery and performance by Petrobras of this Agreement shall have been made, provided, however, that prior registration with the Central Bank of Brazil of Petrobras' payment obligations contained in the Transaction Documents that are not covered by the ROF shall not be a condition precedent to the payment of the Second Prepayment Amount. Petrobras shall obtain the customary export licenses within SISCOMEX prior to each individual export of goods. Amended and Restated Prepayment AgreementAgreement <PAGE> 12 (c) Any and all Eligible Products to be delivered by Petrobras hereunder shall be delivered to Petrobras Finance in accordance with and subject to the terms and conditions of the Master Export Contract (including, without limitation, Article II thereof). (d) No oil products other than Heavy Fuel Oil shall be deemed to be Eligible Products except in accordance with the terms and conditions set forth in Section 2.06 of the Master Export Contract. No Sale of such other oil products shall be deemed to be made to Specified Buyers until the Notice and Consent to which the relevant Specified Buyer is a party has been executed or amended to include such other oil products as Eligible Products thereunder. (e) Any Eligible Products delivered under this Agreement shall be of Readily Marketable Quality (as defined in Section 2.3 of the Offtake Contract). None of the obligations of Petrobras under this Agreement (including the obligation of Petrobras to deliver the Eligible Products purchased on the Closing Date and, subject to the payment in full of the Second Prepayment Amount, its obligation to deliver the additional Eligible Products purchased on the Second Closing Date) may be suspended for any reason (including without limitation, as a result of an event of force majeure or the breach by Petrobras Finance of any of its obligations hereunder or under any other Transaction Document to which it is a party).