Limitation of Applicability. Operations with Exclusive Risks may be proposed by any Contractor as long as the interested party or parties undertake all risks, being responsible for costs and investments and undertaking liability for any damages related to the conduct of the Operations and its consequences. The Manager may not propose Operations with Exclusive Risk. The Contractors choosing not to participate in an Operation with Exclusive Risk shall not undertake risks, be responsible for costs and investments, or undertake liability for any damages related to the conduct of the Operations and its consequences. Only the following Operations may be proposed and conducted as Operations with Exclusive Risks: drilling and/or tests in exploratory xxxxx and assessment xxxxx, except for Operations necessary for performing the obligations of the Minimum Exploration Program; continuity of the Exploration Phase after the Operating Committee’s decision of early conclusion; deepening, lateral deviation, secondary cementation, and/or new completion of xxxxx; acquisition of geological and geophysical data, except for Operations necessary for performing the obligations of the Minimum Exploration Program.
Limitation of Applicability. Operations with Exclusive Risks may be proposed by any Contractor as long as the interested party or parties undertake all risks, being responsible for costs and investments and undertaking liability for any damages related to the conduct of the Operations and its consequences.
Limitation of Applicability. Operations with Exclusive Risks may be proposed by any Contractor as long as the interested party or parties undertake all risks, being responsible for costs and investments and undertaking liability for any damages related to the conduct of the Operations and its consequences. Petrobras, as the sole Operator under this Agreement, shall conduct any and all approved Operation with Exclusive Risk according to the Best Practices of the Oil Industry and the “No Gain, No Loss” Principle When conducting an Operation with Exclusive Risk in which it does not participate, Petrobras may require payment in advance of the costs related to such Operation and shall not be required to start or proceed with the Operation with Exclusive Risk until such advance payments are made. The Manager may not propose Operations with Exclusive Risk. The Contractors choosing not to participate in an Operation with Exclusive Risk shall not undertake risks, be responsible for costs and investments, or undertake liability for any damages related to the conduct of the Operations and its consequences. Only the following Operations may be proposed and conducted as Operations with Exclusive Risks: drilling and/or testing in exploratory xxxxx and assessment xxxxx, except for Operations required for performing the obligations of the Minimum Exploration Program; continuity of the Exploration Phase after the Operating Committee’s decision of early conclusion; deepening, lateral deviation, secondary cementation, and/or recompletion of xxxxx; acquisition of geological and geophysical data, except for Operations required for performing the obligations of the Minimum Exploration Program.
Limitation of Applicability. Operations with Exclusive Risks may be proposed by any Contractor as long as the interested party or parties undertake all risks, being responsible for costs and investments and undertaking liability for any damages related to the conduct of the Operations and its consequences. No Operations with Exclusive Risk may be proposed by the Manager. The Contracted Parties choosing not to participate in an Operation with Exclusive Risk shall neither undertake risks, nor be responsible for costs and investments, nor undertake liability for any damages related to the conduct of the Operation and its consequences. Only the following Operations may be proposed and conducted as Operations with Exclusive Risks: drilling and/or testing in exploratory xxxxx and assessment xxxxx, except for Operations required for performing the obligations of the Minimum Exploration Program; continuity of the Exploration Phase after the Operating Committee’s decision of early conclusion; deepening, lateral deviation, secondary cementation, and/or recompletion of xxxxx; acquisition of geological and geophysical data, except for Operations required for performing the obligations of the Minimum Exploration Program.
Limitation of Applicability. The Operations with Exclusive Risks may be proposed by any Contracted Party, provided the interested party or stakeholders assume all risks, responding for costs, investments and being responsible for any damages related to the execution of the Operations and its consequences. Petrobras, as single Operator of this Contract, shall perform any Operation with Exclusive Risks approved, following the Best Practices of the Oil Industry and following the No Gain No Loss Principle. When Petrobras participate in the Operation with Sole Risk, the participants will compensate it for all expenses incurred with the implementation of the said Operations. Petrobras, when performing an Operation with Exclusive Risks it is not part of, may require advance payment of costs related to this Operation, and will not be forced to start or continue the Operation with Exclusive Risks until such advances have been paid. The Managing Party may not propose Operation with Exclusive Risks. The Contracted Parties which choose not to participate in an Operation with Exclusive Risks will not assume risks, nor will respond for costs, investments nor will be held accountable for any damage associated with the execution of the Operation and its consequences. The following Operations, whereas the paragraph 3.3 3.3 of this Annex, may be proposed and carried out as Transactions with Exclusive Risks: Drilling and or test of exploratory xxxxx and evaluation xxxxx, except the Operations required to fulfill the obligations of the Minimum Exploratory Program; Continuation of the Exploration Phase after decision of early closure of this Phase by the Operational Committee; Deepening, lateral deviation, secondary cementation and or re-completion of xxxxx; Acquisition of geological and geophysical data, with the exception of Operations required to meet the obligations of the Minimum Exploratory Program; No other type of Operation may be proposed or carried out in the form of Operation with Exclusive Risks.
Limitation of Applicability. The provisions of this Amended Agreement set forth the requirements of the City and CSU in effect at the time of the annexation of the Property. These provisions shall not be construed as a limitation upon the authority of the City or CSU to adopt different ordinances, rules, regulations, resolutions, policies or codes which change any of the provisions set forth in this Amended Agreement so long as these conform to the definition of City Code contained in Section I of this Agreement.
Limitation of Applicability. This Settlement Agreement is made on the express understanding that it constitutes a negotiated settlement of issues specific to the Project. No Party shall be deemed, by virtue of execution of this Settlement Agreement, to have established precedent, or admitted or consented to any approach, methodology, or principle except as expressly provided herein. In the event this Settlement Agreement is approved by FERC, such approval shall not be deemed precedential or controlling regarding any particular issue or contention in any other proceeding.
Limitation of Applicability. Notwithstanding any other provisions hereof, if the Receiving Party or any Authorised Person of the Receiving Party is requested to disclose any Confidential Information (including, but not limited to, any Notes) in connection with any legal or administrative proceeding, the Receiving Party will notify the Disclosing Party immediately of the existence, terms and circumstances surrounding such request so that the Disclosing Party may seek a protective order or other appropriate remedy and/or take steps to resist or narrow the scope of the disclosure sought by such request. The Receiving Party agrees to assist the Disclosing Party in seeking a protective order or other remedy, if requested by the Disclosing Party. If a protective order or other remedy is not obtained and disclosure is required (pursuant to the advice of reputable outside legal advisors), the Receiving Party may make such disclosure without liability under this Agreement, provided that the Receiving Party or its Authorised Persons furnish only that portion of the Confidential Information that is legally required to be disclosed, the Receiving Party gives the Disclosing Party notice of the information to be disclosed as far in advance of its disclosure as practicable and the Receiving Party uses its reasonable endeavours to ensure that confidential treatment will be accorded to all such disclosed information. 5.
Limitation of Applicability. Notwithstanding anything to the contrary in this Agreement, Article VI hereof shall apply only with respect to the Collateral and shall not in any way affect the rights of any of the Collateral Agent (as defined in the Shared Collateral Agreement), the Note Trustee (as defined in the Shared Collateral Agreement) or the holders of the 2014 Notes in their respective capacity as an unsecured creditor or as a result of the Liens held by any of them on other assets of the Company and the Guarantors not constituting Collateral.
Limitation of Applicability. Operations with Exclusive Risks may be proposed by any Contractor as long as the interested party or parties undertake all risks, being responsible for costs and investments and undertaking liability for any damages related to the conduct of the Operations and its consequences. As the sole Operator of this Agreement, Petrobras shall conduct any and all approved Operation with Exclusive Risk according to the Best Practices of the Oil Industry, having No Loss or Gain. When conducting an Operation with Exclusive Risk in which it does not participate, Petrobras may require payment in advance of the costs related to such Operation and shall not be required to start or proceed with the Operation with Exclusive Risk until such advance payments are made. Only the following Operations may be proposed and conducted as Operations with Exclusive Risks: Drilling and/or tests in exploratory xxxxx and assessment xxxxx, except for Operations necessary for performing the obligations of the Minimum Exploration Program; Continuity of the Exploration Phase after the Operating Committee’s decision of early conclusion; Deepening, lateral deviation, secondary cementation, and/or new completion of xxxxx; Acquisition of geological and geophysical data, except for Operations necessary for performing the obligations of the Minimum Exploration Program;
