Common use of Extension of the Exploration Phase and Suspension of the Agreement Clause in Contracts

Extension of the Exploration Phase and Suspension of the Agreement. The Agreement shall be automatically suspended if ANP does not resolve, before the end of the Exploration Phase, upon the request for suspension or extension of the Exploration Phase or for changes in the Minimum Exploration Program, pursuant to paragraph 5.5. The Agreement shall be suspended as of the end of the Exploration Phase until ANP’s resolution in final instance. After suspension of the Agreement, the deadlines for submission of the Declarations of Commercial Feasibility and the Discovery Assessment Plans shall also be suspended. During the suspension of the Agreement as provided for in paragraph 5.14, the Concessionaire may not develop Exploration activities in the area, except upon the prior and express authorization of ANP, case in which the suspension shall be converted into a provisional extension of the Agreement. During implementation of the Discovery Assessment Plan approved by ANP, the Agreement shall be automatically suspended in case of request for change of the Date of Decision or request for change of the deadline of the Discovery Assessment Plan. The suspension provided for in paragraph 5.15 shall take place until ANP resolves upon the request, if it does not do so by the date originally established as the Date of Decision or the deadline of the Discovery Assessment Plan.

Extension of the Exploration Phase and Suspension of the Agreement. The Agreement shall be automatically suspended if ANP does not resolve, before the end of the Exploration Phase, upon the request for suspension or extension of the Exploration Phase or for changes in the Minimum Exploration Program, pursuant to paragraph 5.5. The Agreement shall be suspended as of the end of the Exploration Phase until ANP’s resolution in final instanceresolution. After suspension of the Agreement, the deadlines for submission of the Declarations of Commercial Feasibility and the Discovery Assessment Plans shall also be suspended. During the suspension of the Agreement as provided for in paragraph 5.14, the Concessionaire may not develop Exploration activities in the area, except upon the prior and express authorization of ANP, case in which the suspension shall be converted into a provisional extension of the Agreement. During implementation of the Discovery Assessment Plan approved by ANP, the Agreement shall be automatically suspended in case of request for change of the Date of Decision or request for change of the deadline of the Discovery Assessment Plan. The suspension provided for in paragraph 5.15 shall take place until in case the request is not resolved by ANP resolves upon the request, if it does not do so by the date originally established as the Date of Decision or the deadline of the Discovery Assessment Plan, and this suspension shall continue until ANP finally resolves upon such request.

Extension of the Exploration Phase and Suspension of the Agreement. The Agreement shall be automatically suspended if ANP does not resolve, before the end of the Exploration Phase, upon the request for suspension or extension of the Exploration Phase or for changes in the Minimum Exploration Program, pursuant to paragraph 5.5. The Agreement shall be suspended as of the end of the Exploration Phase until ANP’s resolution in final instance. After suspension of the Agreement, the deadlines for submission of the Declarations of Commercial Feasibility and the Discovery Assessment Plans shall also be suspended. During the suspension of the Agreement as provided for in paragraph 5.145.12, the Concessionaire may not develop Exploration activities in the area, except upon the prior and express authorization of ANP, case in which the suspension shall be converted into a provisional extension of the Agreement. During implementation of the Discovery Assessment Plan approved by ANP, the Agreement shall be automatically suspended in case of request for change of the Date of Decision or request for change of the deadline of the Discovery Assessment Plan. The suspension provided for in paragraph 5.15 5.13 shall take place until ANP resolves upon the request, if it does not do so by the date originally established as the Date of Decision or the deadline of the Discovery Assessment Plan.

Extension of the Exploration Phase and Suspension of the Agreement. The Agreement During the Exploration Phase, the agreement shall be automatically suspended if ANP does not resolve, before the end of the Exploration Phase, upon the request for for: (i) suspension or extension of the Exploration Phase Phase; or for (ii) changes in the Minimum Exploration Program, pursuant to paragraph section 5.5. The Agreement agreement shall be suspended as of the end of the Exploration Phase until up to ANP’s resolution in final instanceresolution. After suspension of the Agreementagreement, the deadlines for submission of the Declarations of Commercial Feasibility and the Discovery Assessment Plans shall also be suspended. During the suspension of the Agreement agreement as provided for in paragraph 5.145.12, the Concessionaire may not develop Exploration exploration activities in the area, except upon the prior and express authorization of ANP, case in which the suspension shall be converted into a provisional extension of the Agreementagreement. During implementation of the Discovery Assessment Plan approved by ANP, the Agreement agreement shall be automatically suspended in case of of: (i) request for change of the Date of Decision Decision; or (ii) request for change of the deadline of the Discovery Assessment Plan. The suspension provided for in paragraph 5.15 5.13 shall take place until ANP resolves upon the request, if it does not do so by the date originally established as the Date of Decision or the deadline of the Discovery Assessment Plan.