Common use of Limitation of Applicability Clause in Contracts

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. 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 Drilling and/or tests in exploratory xxxxx and assessment xxxxx, except for Operations necessary for performing the obligations of the Minimum Exploration Program; continuity Continuity of the Exploration Phase after the Operating Committee’s decision of early conclusion; deepeningDeepening, lateral deviation, secondary cementation, and/or new completion of xxxxx; acquisition Acquisition of geological and geophysical data, except for Operations necessary for performing the obligations of the Minimum Exploration Program.;