FORMATION OF THE CONSORTIUM Sample Clauses

FORMATION OF THE CONSORTIUM. 3.1. The Consortium will be headquartered in the City of (Brasília-DF or Rio de Janeiro-RJ), Brazil.
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FORMATION OF THE CONSORTIUM. The Consortium will be headquartered in the City of _________ (Brasília-DF or Rio de Janeiro-RJ), Brazil. The Consortium, as well as the performance of the purpose of the Consortium Agreement and the use of the Common Assets shall not cause the Parties to form a company. CLAUSE FOUR - OPERATIONAL ADMINISTRATION - OPERATOR AND OPERATIONS COMMITTEE Pursuant to article 4 of Law No. 12.351/2010 and CNPE Resolution No. 01/2022, Petrobras is an Operator and leader of the Consortium. The Operator is responsible for conducting and executing the Operations, performing acts, entering into legal business and representing the Consortium before ANP, the Federal, State and Municipal Governments, as well as before third parties, from the date of entry into force of this Consortium Agreement. The Operating Committee shall be responsible for resolutions concerning the administration of the Consortium, whose formation, competence, powers, areas of operation, composition, periodicity of meetings, voting procedures and matters specifically subject to its resolution shall be defined in specific documents to be signed between the Parties insofar as they do not conflict with the terms of the Production Sharing Agreement. Xxxxx XX of the Production Sharing Agreement is an integral part of this Consortium Agreement. The decisions of the Consortium will be approved by vote as established in Annex IX of the Production Sharing Agreement and in accordance with criteria, forms and procedures that will be established in specific documents, as they do not conflict with the terms of the Production Sharing Agreement and its annexes.
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FORMATION OF THE CONSORTIUM 
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