Final Transition Stage Sample Clauses

Final Transition Stage. One (1) year prior the termination of this Contract for the conclusion of its term, the Contractor and the CNH will start a Final Transition Stage of the totality or part of the Contract Area. During this stage the Contract Area will be delivered by the Contractor to the CNH or a third party assigned for such purpose in accordance with the Applicable Laws and the following: (a) The Contractor shall update the Asset Inventory to include the existing Xxxxx and Materials in part of or in the whole Contract Area; (b) The Contractor shall submit to the CNH a report with at least the identification of Xxxxx and Materials in part of or in the whole Contract Area, describing their operating conditions as of the date of the beginning of the Final Transition Stage; (c) The Contractor shall submit to the CNH a report containing all the information obtained within a period of ninety (90) Days prior to the termination of the Contract, regarding the production of Hydrocarbons in the Contract Area and the infrastructure associated to production; (d) CNH will request the Contractor to perform the Abandonment of the Xxxxx and Materials that will not be transferred to the CNH, as provided in this Contract; (e) The Contractor shall conduct the Social Baseline, to identify the existing social liabilities derived from the Petroleum Activities in part of or in the whole Contract Area. (f) The Contractor shall develop the Environmental Baseline in order to identify the Preexisting Damages derived from the Petroleum Activities in part of or in the whole Contract Area, and (g) The CNH will be entitled to join the Contractor during the Final Transition Stage directly or through an assigned third party in order to review and validate that the corresponding activities have been conducted as provided by the Industry Best Practices and the Applicable Laws. In case that: (i) the Contractor relinquishes or returns part or the whole Contract Area as provided in Articles 3.4 and 7.1; (ii) the early termination of the Contract occurs, or (iii) the CNH rescinds the Contract, the Final Transition Stage shall begin simultaneously with the notification of relinquishment, devolution, termination or rescission, as it corresponds, issued as provided in this Contract.
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Final Transition Stage. In case of the termination this Contract for any reason or in case that the CNH rescinds the Contract, the Contractor and the CNH will start a Final Transition Stage for the entirety or part of the Contract Area. During this stage, the Contract Area will be delivered by the Contractor to the CNH or a third party assigned for such purpose in accordance with the Applicable Laws and the following: (a) The Contractor shall update the Asset Inventory to include the existing Xxxxx and Materials in part of or in the whole Contract Area; (b) The Contractor shall submit to the CNH a report with at least the identification of Xxxxx and Materials in part of or in the whole Contract Area, describing their operating conditions as of the date of the beginning of the Final Transition Stage; (c) The Contractor shall submit to the CNH a report containing all the information obtained within a period of ninety (90) Days prior to the termination of the Contract, regarding the production of Hydrocarbons in the Contract Area and the infrastructure associated to production;

Related to Final Transition Stage

  • Additional Transactions If the Over-Allotment Option is exercised in whole or in part, the Underwriters will contribute additional cash to the Partnership in exchange for up to an additional 3,000,000 Common Units on the basis of the initial public offering price per Common Unit set forth in the Registration Statement less the amount of underwriting discounts and commissions and Structuring Fee, and the Partnership shall use the net proceeds from that exercise to redeem from Field Services the number of Common Units issued upon such exercise.

  • Organizational Transition Local Church shall take all steps necessary to close and/or dissolve any legal entities of the Local Church and to settle, liquidate, or transfer all assets and obligations of such entities, or to establish any new legal entities, or to modify its current organizing documents as needed to effectuate its disaffiliation from The United Methodist Church, to the satisfaction of Annual Conference.

  • Termination Statements Attached hereto as Schedule 8(a) are the duly authorized termination statements in the appropriate form for filing in each applicable jurisdiction identified in Schedule 8(b) hereto with respect to each Lien described therein.

  • Registration Statement Renewal Deadline If immediately prior to the third anniversary (the “Renewal Deadline”) of the initial effective date of the Registration Statement, any of the Notes remain unsold by the Underwriters, the Company will prior to the Renewal Deadline file, if it has not already done so and is eligible to do so, a new automatic shelf registration statement relating to the Notes, in a form satisfactory to the Representatives. If the Company is no longer eligible to file an automatic shelf registration statement, the Company will prior to the Renewal Deadline, if it has not already done so, file a new shelf registration statement relating to the Notes, in a form satisfactory to the Representatives, and will use its best efforts to cause such registration statement to be declared effective within 60 days after the Renewal Deadline. The Company will take all other action necessary or appropriate to permit the public offering and sale of the Notes to continue as contemplated in the expired registration statement relating to the Notes. References herein to the Registration Statement shall include such new automatic shelf registration statement or such new shelf registration statement, as the case may be.

  • Contract Transition Upon Contract expiration or termination, the Contractor shall ensure a seamless transfer of Contract responsibilities with any subsequent Contractor necessary to transition the Products and services of the Contract. The incumbent Contractor assumes all expenses related to the contract transition.

  • Initial Registration Periods Initial registrations of registered names may be made in the registry in one (1) year increments for up to a maximum of ten (10) years. For the avoidance of doubt, initial registrations of registered names may not exceed ten (10) years.

  • Principal Transactions In connection with purchases or sales of securities for the account of a Fund, neither the Adviser nor any of its directors, officers or employees will act as a principal or agent or receive any commission except as permitted by the 1940 Act.

  • IPO The IPO, in such form and substance as the REIT, in its sole and absolute discretion, shall have determined to be acceptable, shall have been completed (or be completed simultaneously with the Closing).

  • Registration Statement Amendments After the date of this Agreement and during any period in which a Prospectus relating to any Placement Shares is required to be delivered by Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i) the Company will notify the Agent promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the Company will prepare and file with the Commission, promptly upon the Agent’s request, any amendments or supplements to the Registration Statement or Prospectus that, in such Agent’s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by the Agent (provided, however, that the failure of the Agent to make such request shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the representations and warranties made by the Company in this Agreement and provided, further, that the only remedy the Agent shall have with respect to the failure to make such filing shall be to cease making sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus relating to the Placement Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to Agent within a reasonable period of time before the filing and the Agent has not objected thereto (provided, however, that the failure of the Agent to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the representations and warranties made by the Company in this Agreement and provided, further, that the only remedy Agent shall have with respect to the failure by the Company to obtain such consent shall be to cease making sales under this Agreement) and the Company will furnish to the Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via XXXXX; and (iv) the Company will cause each amendment or supplement to the Prospectus to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act or, in the case of any document to be incorporated therein by reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed (the determination to file or not file any amendment or supplement with the Commission under this Section 7(a), based on the Company’s reasonable opinion or reasonable objections, shall be made exclusively by the Company).

  • Manual Transactions If the parties choose not to use Fund/SERV, if there are technical problems with Fund/SERV, or if the parties are not able to transmit or receive information through Fund/SERV, any corrections to a Portfolio’s prices should be communicated by facsimile or by electronic transmission, and will include for each day on which an adjustment has occurred the incorrect Portfolio price, the correct price, and, to the extent communicated to Portfolio shareholders, the reason for the adjustment. The Company may send this notification or a derivation thereof to Contract owners whose Contracts are affected by the adjustment.

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