Modification or Cancellation of Policies. The Contractor may not cancel or modify the insurance policies in effect under its terms and conditions without prior authorization of CNH and the Agency. The Contractor may request approval from CNH and the Agency to modify any insurance policy. Such request shall describe the reasons and benefits of the proposed modification. CNH and the Agency shall make and inform the Contractor of any objection or observation they may have regarding the proposed changes. If the Agency and CNH do not approve the proposal, the Contractor shall obtain and maintain the authorized insurance policy.
Appears in 5 contracts
Samples: Contract for the Exploration and Extraction of Hydrocarbons (SAILFISH ENERGY HOLDINGS Corp), Contract for the Exploration and Extraction of Hydrocarbons (SAILFISH ENERGY HOLDINGS Corp), Contract for the Exploration and Extraction of Hydrocarbons (SAILFISH ENERGY HOLDINGS Corp)
Modification or Cancellation of Policies. The Contractor may not cancel or modify the insurance policies in effect force under its terms and conditions without prior authorization of CNH and the Agency. The Contractor may request approval from CNH and the Agency to modify any insurance policy. Such request shall describe the reasons and benefits of the proposed modification. CNH and the Agency shall make and inform the Contractor of any objection or observation they may have regarding the proposed changes. If the Agency and CNH do not approve the proposal, the Contractor shall obtain and maintain the authorized insurance policy.
Appears in 2 contracts
Samples: Contract for the Extraction of Hydrocarbons Under Production Sharing Modality, Contract for the Extraction of Hydrocarbons Under Production Sharing Modality
