Fine for Noncompliance with the Local Content Sample Clauses

Fine for Noncompliance with the Local Content. 20.11 The noncompliance of Local Content is to subdue the Concessionaire to a fine.
Sample 1Sample 2
AutoNDA by SimpleDocs
Fine for Noncompliance with the Local Content. The noncompliance of Local Content is to subdue the Contracted Party to a fine. The amount of the fine will be calculated on the non-complied monetary amount, subject to the following percentages: If the noncompliance of Local Content is equal to or greater than 65% (sixty-five percent): , in which NR is the Non-Performed Local Content; and If the noncompliance of Local Content is inferior to 65% (sixty-five percent): 60% (sixty percent). If there is a noncompliance simultaneously to more than one item of Local Content, the amount of the fine shall correspond to the sum of the fines for each item. In the event of non-compliance with the global and Local Content for the items specified in the table of Annex IX - Commitment of Local Content, the amount of the fine to be applied to the items will be deducted from the amount of the fine to be imposed for non-compliance with the overall Local Content. In the event of non-compliance with the Local Content for items and their related sub-items specified in the table of Annex IX - Commitment of Local Content, the amount of the fine to be applied to the sub-items will be deducted from the amount of the fine to be imposed for non-compliance with the Local Content for the items.
Sample 1Sample 2
Fine for Noncompliance with the Local Content. The noncompliance of Local Content is to subdue the Contracted Party to a fine. The amount of the fine will be calculated on the non-complied monetary amount, subject to the following percentages: If the noncompliance of Local Content is equal to or greater than 65% (sixty-five percent): , in which NR is the Non-Performed Local Content; and If the noncompliance of Local Content is inferior to 65% (sixty-five percent): 60% (sixty percent). If there is a noncompliance simultaneously to more than one item of Local Content, the amount of the fine shall correspond to the sum of the fines for each item. In the event of non-compliance with the global and Local Content for the items specified in the table of Annex IX - Commitment of Local Content, the amount of the fine to be applied to the items will be deducted from the amount of the fine to be imposed for non-compliance with the overall Local Content. In the event of non-compliance with the Local Content for items and their related sub-items specified in the table of Annex IX - Commitment of Local Content, the amount of the fine to be applied to the sub-items will be deducted from the amount of the fine to be imposed for non-compliance with the Local Content for the items. Twenty Sixth Clause - Operational Safety and Environment Environmental Control The Consortium Members must have a safety and environment management system that meets the Best Practices of the oil industry and the applicable legislation. The Consortium Members should, among other obligations: Ensure the preservation of an ecologically balanced environment; Minimize impacts and/or damage to the environment; Ensure the safety of operations in order to protect human life and the environment; Ensure the protection of the Brazilian historical and cultural heritage; Repair the degraded environment in accordance with the technical solution required by the competent environmental organization. If there is an environmental licensing process which the competent organization deems necessary for the achievement of Public Hearing, the Consortium Members must send ANP copy of studies designed to obtain licenses at an earlier date of the Hearing. The Consortium Members must submit to ANP copy of the environmental permits and their respective renewals within 30 (thirty) days after its acquisition, or, before that, when necessary to instruct authorization procedure that requires such documents. The Consortium Members must immediately inform ANP and the compete...
Sample 1
Fine for Noncompliance with the Local Content. The noncompliance of Local Content is to subdue the Concessionaire to a fine, the fine shall be calculated on the non-complied monetary amount, subject to the following percentages: If the noncompliance of Local Content is equal to or greater than 65% (sixty-five percent): , in which NR is the Non-Performed Local Content; and If the noncompliance of Local Content is inferior to 65% (sixty-five percent): 60% (sixty percent). If there is a noncompliance simultaneously to more than one item of Local Content, the amount of the fine shall correspond to the sum of the fines for each item. In the event of non-compliance with the global and Local Content for the items specified in the table of Annex IX, the amount of the fine to be applied to the items shall be deducted from the amount of the fine to be imposed for non-compliance with the overall Local Content. If the result of the deduction is negative, the fine of the overall Local Content shall be null. In the event of non-compliance with the Local Content for items and their related sub-items specified in the table of Annex IX, the amount of the fine to be applied to the sub-items shall be deducted from the amount of the fine to be imposed for non-compliance with the Local Content for the items. If the result of the deduction is negative, the fine of the Local Content of the item shall be null. The Concessionaire shall present to ANP, within 120 (one hundred twenty) days after reaching a local content measurement, the Local Content Consolidated Report (RCCL) carried out for the Phase or Stage, under the Applicable Law. If the Consolidated Report of Local Content (RCCL) indicates non-compliance with local content commitments, the Concessionaire shall determine the amount of the fine due and perform the payment, subject to control actions of ANP, by reviewing the calculations, the drawing up of tax assessment and collection of the differences due. The fine amount shall be updated by the Market General Price Index (IGP-M) from the date of completion of Phase or Stage referred to the date on which the actual payment was performed. In the event of the Concessionaire shall not adopt the procedures set out above, the ANP shall establish procedure for calculation of the fine, according to rules to be defined by the ANP, without prejudice to any other penalties. In the meantime specific standards are not issued as referred to in the item above, shall be adopted the ordinance provided for in Law No. 2.953, of January 28...
Sample 1

Related to Fine for Noncompliance with the Local Content

  • Compliance with the Law The Parties agree to comply fully with all applicable federal, state, and local statutes, ordinances, rules, and regulations applicable to their entity in connection with the programs contemplated under this Agreement.

  • COMPLIANCE WITH THE CONTRACT WORK HOURS AND SAFETY STANDARDS ACT (1) Overtime requirements. No contractor or subcontractor contracting for any part of the contract work which may require or involve the employment of laborers or mechanics shall require or permit any such laborer or mechanic in any workweek in which he or she is employed on such work to work in excess of forty hours in such workweek unless such laborer or mechanic receives compensation at a rate not less than one and one-half times the basic rate of pay for all hours worked in excess of forty hours in such workweek.

  • COMPLIANCE WITH LICENSING REQUIREMENTS CONTRACTOR shall comply with all necessary licensing requirements and shall obtain appropriate licenses and display the same in a location that is reasonably conspicuous, as well as file copies of same with the County Executive Office.

  • Compliance with Xxxxxxxx Act requirements The contractor shall comply with the requirements of 29 CFR part 3, which are incorporated by reference in this contract.

  • Compliance with Tax Laws The Trustee hereby agrees to comply with all U.S. Federal income tax information reporting and withholding requirements applicable to it with respect to payments of premium (if any) and interest on the Debt Securities, whether acting as Trustee, Registrar, paying agent or otherwise with respect to the Debt Securities.

  • Compliance with Xxxxx-Xxxxx and Related Act requirements All rulings and interpretations of the Xxxxx-Xxxxx and Related Acts contained in 29 CFR parts 1, 3, and 5 are herein incorporated by reference in this contract.

Time is Money Join Law Insider Premium to draft better contracts faster.