Nationalization or Expropriation. 1. The investments to which this Agreement relates shall not be subject to any measure which might limit the right of ownership, possession, control or enjoyment of the investments, permanently or temporarily, save where specifically provided by current, national or local, legislation or regulations and orders handed down by Courts or Tribunals having jurisdiction.
2. Investments of investors of one of the Contracting Parties shall not be, "de jure" or "de facto", directly or indirectly nationalized, expropriated, requisitioned or subjected to any measures having an equivalent effect in the territory of the other Contracting Party, except for public purposes or national interest and in exchange for immediate, full and effective compensation, and on condition that these measures are taken on a non-discriminatory basis and in conformity with all legal provisions and procedures.
3. The just compensation shall be established on the basis of real market value immediately prior to the moment in which the decision to nationalize or expropriate is announced or made public. In the absence of an understanding between the host Contracting Party and the investor during the nationalization or expropriation procedure, compensation shall be based on the same reference parameters and exchange rates taken into account in the documents for the constitution of the investment. The exchange rate applicable to any such compensation shall be that prevailing on the date immediately prior to the moment in which the nationalization or expropriation has been annonced or made public.
4. Without restricting the scope of the above paragraph, should the object of nationalization, expropriation, or similar event be a company any part of whose share capital shall have been subscribed by an investor in a foreign currency or denominated in a foreign currency, the evaluation of the share of such investor will be in the currency of the investment, increased by capital increases, revaluation of capital, undistributed profits and reserves and diminished by the value of capital reductions and losses.
5. Compensation will be considered as actual if it will have been paid in the same currency in which the investment has been made by the foreign investor, in as much as such currency is — or remains — convertible, or, otherwise, in any other currency accepted by the investor.
6. Compensation will be considered as timely if it takes place without undue delay and, in any case, within six months.
7. Co...
Nationalization or Expropriation. 1. Investments of either Contracting Party or its natural or juridical persons shall not be subjected to sequestration, confiscation, expropriation or nationalization or any other measures having equivalent effect (hereinafter referred to as expropriation). Neither Contracting Party shall subject the investment to any measures directly or indirectly tantamount to expropriation including such as: levying of taxes, compulsory sale of all or part of an investment, impairment or deprivation or its management or control. All such actions are consider expropriation except when the expropriation: a) Is done for public purpose;
Nationalization or Expropriation. 1. The investments to which this Agreement relates shall not be subject to any measure which might limit the right of ownership, possession, control or enjoyment of the investments, permanently or temporarily, unless specifically provided by current, national or local legislation and regulations and orders handed down by Courts or Tribunals having jurisdiction.
2. Investments of investors of one of the Contracting Parties shall not be, "de jure" or "de facto", directly or indirectly nationalized, expropriated, requisitioned or subjected to any measure having an equivalent effect in the territory of the other Contracting Party, except for public purposes or national interest and in exchange for immediate full and effective compensation, and on condition that these measures are taken on a non-discriminatory basis and in conformity with all legal provisions and procedures.
3. The just compensation shall be equivalent to the fair market value of the expropriated investment immediately prior to the moment in which the decision to nationalise or expropriate is announced or made public. Whenever there are difficulties in ascertaining the fair market value, it shall be determined according to the internationally acknowledged evaluation standards. Compensation shall be calculated in a convertible currency at the prevailing exchange rate applicable on the date on which the decision to nationalise or expropriate is announced or made public and shall include interests calculated on the basis of LIBOR Standards from the date of nationalisation or expropriation to the date of payment. Once the compensation has been determined, it shall be paid without undue delay — and in any case within six months — and the authorisation for its transfer abroad — if necessary — issued promptly.
4. In case that the object of the expropriation is a joint-venture constituted in the territory of one of the Contracting Parties, the compensation to be paid to the investor of the other Contracting Party shall be calculated taking into account the share of such investor in the joint-venture, in accordance with its basic documents.
5. A national or company of either Contracting Party that asserts that all or part of its investment has been expropriated shall have the right to prompt review by the appropriate judicial or administrative authorities of the other Contracting Party to determine whether any such expropriation has occurred and, if so, whether such expropriation and any compensation th...
Nationalization or Expropriation. (1) Investments of investors of either Contracting party shall not be expropriated, nationalized or subjected to measures having effect equivalent to expropriation or nationalization (hereinafter referred to as "expropriation") in the territory of the other Contracting Party except for a public purpose related to the internal needs of that Contracting Party and against reasonable compensation.
(2) Such compensation shall be computed on the basis of the marked value of the investment immediately prior to the point of time when the decision for expropriation was announced or became publicly known. Where the market value cannot be readily ascertained, the compensation shall be determined in accordance with generally recognized principles of valuation and on equitable principles taking into account, inter alia, the capital invested, depreciation, capital already repatriated, replacement value and other relevant factors. The compensation shall include interest at the current LIBOR rate of interest applicable to the currency in which the investment was originally undertaken from the date of expropriation until the date of payment.
(3) Where a Contracting party nationalizes or expropriates the assets of a legal person which is established or licensed under the law in force, in its territory and in which any natural or legal person of the other Contracting Party owns shares, stocks, debentures or other rights or interest, it shall ensure that fair and reasonable compensation is received in freely convertible currencies and allowed to be repatriated. Such compensation shall be determined on the basis of the recognized principles of valuation such as the market value of the assets immediately prior to the point of time when the decision for nationalization or expropriation or expropriation was announced or became publicly known. The compensation shall include interest at the current LIBOR rate of interest applicable to the currency in which the investment was originally undertaken from the date of nationalization or expropriation until the date of payment.
(4) The determination of the amount of compensation, in the absence of agreement being reached between the investor and the Contracting party taking expropriation, shall be referred to the arbitration. The amount of compensation finally determined shall be paid to the investor in freely convertible currencies and allowed to be repatriated without undue delay.
(5) The provisions of Paragraphs 1, 2, 3 of this Articl...
Nationalization or Expropriation. 1. The investments referred to in this Agreement shall not be subject to any measure that may have the effect of restricting, for a definite or indefinite period of time, the rights of possession, control and enjoyment inherent therein, except as specifically provided for by national or local laws or regulations, or as a result of administrative decisions and rulings issued by the competent judicial authorities.
Nationalization or Expropriation i) Investments of either Contracting State or its natural or juridical persons shall not be subject to sequestration, confiscation or any similar measures and shall enjoy full and complete protection and safety in the territory of the other Contracting State.
ii) Neither Contracting States shall take any measures of expropriation or nationalization or freezing or any other measures having effect of this position or to subject the investment to any measures direct or indirect tantamount to expropriation including the leving of taxes, the compulsory sale of all or part of an investment or the impairment or deprivation or its management or control. All such actions refer to as expropriation except when the expropriation:
(a) Is done for public purpose,
(b) Is accomplished under due procedures of law,
(c) Is not discriminatory,
(d) Does not violate any specific provision or contractual stability or expropriation contains in an investment agreement between the natural and juridical persons concerned and the party making the expropriation,
(e) It is in accordance with a decission of a competent administrative or judicial body,
(f) The investor shall have the right to refer to the administrative or judicial bodies to make sure that expropriation has been made in accordance with the principles of the international law,
(g) The investor shall have the right to contest against the expropriation or any such measures to the competent court of the Contracting State which have taken these measures,
(h) Is accompanied by prompt, adequate and effective compensation.
(2) Such compensation shall be computed on the basis of the market value of the investment immediately prior to the moment of time when the decision for nationalization or expropriation was announced or become publicly known and shall be determined in accordance with recognised principles of valuation such as market value; where the market value cannot be readily ascertained, the compensation shall be determined on equitable principles taking into account, interalia, the capital invested, depreciation, capital already repatriated, replacement value, goodwill and other relevant factors. In the event that payment of compensation is delayed, such compensation shall be paid in an amount which would put the investor in a position no less favourable than the position in which he would have been had the compensation been paid immediately after the date of expropriation or nationalization. To achieve this goal the com...
Nationalization or Expropriation. 1. Investments shall not be "de jure" or "de facto", directly or indirectly, nationalized, expropriated, requisitioned or subjected to any measures having totally or partly an equivalent effect in the territory of the other Contracting Party, except for public purposes or national interest, against immediate and just compensation and provided that these measures are taken on a non-discriminatory basis and in conformity with all legal provisions and procedures, including specific commitments.
2. Fair compensation shall be established on the basis of real market value prevalent prior to the time upon which the decision to nationalize or expropriate is taken or made public.
3. Compensation shall be deemed as immediate if it takes place without undue delay.
4. In case of an undue delay, there will be a re-evaluation at the request ofthe investor, in order to compensate for this situation.
5. An investor ofeither Party that asserts that all or part of his investment has been expropriated shall have the right for a prompt hearing by the competent court or administrative authority of the Party where the investment was established, in order to determine whether any such expropriation has occurred, and if so, whether such expropriation, and any compensation thereofare conforming to the law and regulation and to the fundamentals of this Agreement, and to decide all other matters relating thereto.
6. In the absence of an agreement between the investor and the competent authority, the amount of compensation shall be established in accordance with the procedures for dispute settlement pursuant to Article 8 of this Agreement. Compensation shall be freely transferable pursuant to Article 6 of this Agreement.
7. The provisions of Paragraph 1 of this Article shall also apply to investment profits.Paragraph 1 of this Article shall also apply to investment profits.
Nationalization or Expropriation. The PatentBook Administrator may terminate this Agreement immediately without right of Subscriber (Licensee) to cure upon the occurrence of de facto or de jure nationalization or expropriation of the Subscriber (Licensee) by governmental or military action, whether or not with valid authority.
Nationalization or Expropriation. 1. Investments referred to in this Agreement may not be subject to measures restricting, permanently or temporarily, the right of ownership, possession, control or enjoyment inherent in them, unless specifically provided for by applicable national or local law or regulations and rulings issued By competent courts or tribunals.
2. Investment by investors of one of the Contracting Parties shall not be "de jure" or "de facto", directly or indirectly, nationalized, expropriated, or subject to measures having similar effects in the territory of the other Contracting Party, except for public purposes Or for reasons of national interest and against immediate, full and effective reparation and provided that such measures are taken on a non-discriminatory basis and in accordance with all legal provisions and procedures.
3. The right amount of compensation will be determined on the basis of the actual market value of the investment immediately before the nationalization or expropriation decision has been announced or made public. In the absence of an agreement between the host Contracting Party and the investor during the nationalization or expropriation procedure, the compensation shall be calculated on the basis of the same reference parameters and the same exchange rates as are taken into account in the investment documents. The exchange rate applicable to each indemnification shall be the official day of the day immediately preceding the date on which nationalization or expropriation was announced or made public.
4. Without limiting the scope of the preceding paragraph, where an object of nationalization, expropriation or similar event is a foreign capital company, the valuation of the investor's share will be in the investment currency, to a degree not lower than the initial value of the investment, Increased investment of capital increases and capital revaluation, unallocated profits and reserve funds and reduced value of the reductions and losses of capital.
5. Compensation will be considered effective if paid in the same currency as the foreign investor has made the investment, to the extent that this currency is - or remains - convertible, or otherwise, in any other currency accepted by the investor.
6. Compensation will be considered timely if it occurs without undue delay and, in any case, within one month.
7. Compensation shall include interest calculated on the basis of the six-month LIBOR rate starting from the date of nationalization or expropriation ...
Nationalization or Expropriation. (1) Investments of investors of either Contracting Party shall not be nationalised, expropriated or subjected to direct or indirect measures having effect equivalent to nationalization or expropriation by the other Contracting Party unless:
a) the measures are taken in the public interest, on a non discriminatory basis, under due process of law and are not contrary to any undertaking which that Party may have given to the investor. The measures are accompanied by provisions for the payment of prompt, adequate and effective compensation;
b) such compensation shal1 amount to the market value of the expropriated investment immediately before the expropriation or before the impending expropriation became public knowledge, shal1 include interest from the date of expropriation at a normal commercial rate, shal1 be paid without delay and shal1 be effectively realizable and freely transferable;
c) where a Contracting Party nationalises or expropriates the investment of a legal person which is established or 1 ice need under the law in force in its territory and in which the investor of the other Contracting Party owns shares, stocks, debentures of other rights or interests, it shal1 ensure that prompt, adequate and effective compensation is received and allowed to be transferred. Such compensation shall be determined and paid in accordance with the provisions of paragraphs (1) and (2) of this Article.
(2) The provisions of this Article shall also apply to the current returns from an investment as well as, in the event of liquidation, to the proceeds from the liquidation.
(3) Without restricting the generality of Articles 3 and 4, investors of either Contracting Party shall enjoy most-favoured-nation treatment in the territory of the other Contracting Party in respect of matters provided for in this Article.
