Common use of Nationalization or Expropriation Clause in Contracts

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 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.Paragraphs 1, 2, 3 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.

Nationalization or Expropriation. (1a) Investments of investors of either Contracting party State or any of its investors shall not be expropriateddirectly or indirectly nationalized, nationalized expropriated or subjected to measures having effect equivalent to nationalization or expropriation or nationalization (hereinafter referred to as "expropriation") in the territory of the other Contracting Party State except for a public purpose related to in the internal needs national interest of that Contracting Party State, for prompt, adequate and against reasonable compensationjust compensation and on condition that such measures are taken on a non-discriminatory basis and in accordance with domestic laws of general application and are not contrary to any undertaking which that State may have given. (2b) Such compensation shall be computed on the basis of the marked fair market value of the investment immediately prior to the point of time when the decision for nationalization or expropriation was announced or became publicly knownknown 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 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 value, goodwill and other relevant factors. The 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 not less favourable than the position in which he would have been had the compensation been paid immediately on the date of expropriation or nationalization. To achieve this goal 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 expropriationhost State, shall be referred to the arbitrationarbitration in accordance with Article 11. The amount of compensation finally determined shall be promptly paid to the investor investors in freely convertible currencies and allowed to be freely repatriated without undue delay. (5c) Where a Contracting State nationalizes or expropriates the investment of a juridical person which is established or licenced under the law in force in its territory and in which the other Contracting State or any of its investors owns shares, stocks, debentures or other rights or interest, it shall ensure that prompt, adequate and just compensation is received and allowed to be repatriated. Such compensation shall be determined and paid in accordance with the provisions of subparagraph (b) of paragraph (1). (2) The provisions of Paragraphs paragraph (1, 2, 3 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.Paragraphs 1, 2, 3 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.

Nationalization or Expropriation. (1) . Investments of investors of either Contracting party Party shall not be expropriatednationalized, nationalized expropriated or subjected to any measures having an equivalent effect equivalent to expropriation or nationalization (hereinafter referred to as "expropriation") in the territory of the other Contracting Party except for a any non discriminatory measure of general application which Governments normally take for the purpose of regulating economic activity in their territories, or any public purpose related to the internal needs authorized by laws of that Contracting Party on a non discriminatory basis, handed down by the competent authorities, and against reasonable compensationcompensation which shall be expeditious, full and effectively realizable without undue delay, and shall be freely convertible and transferable. (2) Such . The just compensation shall be computed on equivalent to the basis of the marked genuine market value of the investment immediately prior to the point of time when moment in which the decision for expropriation was to nationalize or expropriate is announced or became publicly knownmade public. Where the market Whenever that value cannot be readily ascertained, the compensation shall be determined in accordance with generally general internationally recognized principles criteria of valuation and on equitable principles taking into accountevaluation, inter alia, such as the capital invested, depreciation, capital already repatriated, replacement value value, and other relevant factors. 3. The compensation affected investor shall include interest at have a right, under the current LIBOR rate law of interest applicable the Contracting Party making the expropriation, to seek review, by a judicial or other independent authority of that Party, of his or its case and of valuation of his or its investment in accordance with the currency principles set out in which this paragraph. The Contracting Party making the investment was originally undertaken from the date of expropriation until the date of paymentshall make every endeavour to ensure that such review is carried out promptly. (3) 4. Where a Contracting party nationalizes or Party expropriates the assets of a legal person company which is established incorporated or licensed constituted under the law in forceforce in any part of its own territory, in its territory and in which any natural or legal person investors of the other Contracting Party owns own shares, stocks, debentures or other rights or interest, it shall ensure that fair the provisions of paragraph 1 of this Article are applied to the extent necessary to guarantee prompt, adequate and reasonable effective compensation is received in freely convertible currencies and allowed respect of their investment to be repatriated. Such compensation shall be determined on the basis such investors of the recognized principles other Contracting Party who are owners 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 knownthose shares. 5. The compensation Compensation shall include interest at the current calculated on a six-month LIBOR rate of interest applicable to the currency in which the investment was originally undertaken basis accruing from the date of nationalization or expropriation until to 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 arbitration6. 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 paragraph 1 of this Article shall also apply to the current returns from profits accruing to an investment as well asand, in the event of winding-up, the proceeds of liquidation. 7. The investor of a Contracting Party, acting in the territory of the other Contracting Party, shall not be granted any right, in respect of repossession of an expropriated asset, which is not granted to the proceeds from investor of the liquidationother Contracting Party under the same circumstances.Paragraphs 1, 2, 3 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.

Nationalization or Expropriation. (1) Investments of the investors of either Contracting party State shall not be expropriatednationalized, nationalized sequestrated or confiscated, expropriated or subjected to any measures having effect equivalent to nationalization or expropriation or nationalization (hereinafter referred to as "expropriation") in the territory of the other Contracting Party except State. All such actions shall be referred to as expropriation unless the expropriation: (a) Is done for public purpose (b) Is accomplished under the relevant domestic laws. (c) Is not discriminatory. (d) Is accompanied by a public purpose related to the internal needs of that Contracting Party reasonable; effective and against reasonable non-discriminatory compensation. (2) The investor is given the right to prompt review by the courts or administrative bodies of the other Contracting State to determine whether the expropriation has occurred and it is conformed to the principle of the national law, or to review the legality of the expropriation by the competent courts of the other Contracting State that takes such measure. (3) Such compensation shall be computed on the basis of the marked market value of the investment immediately prior to the point of time when the decision for expropriation or nationalization 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 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. The determination of the amount of compensation, in the absence of agreement being reached between the investor and the host State, shall be referred to arbitration. The amount of compensation finally determined shall be paid to investors in freely convertible currencies and allowed to be repatriated without undue delay. (34) Where a Contracting party State nationalizes or expropriates the assets of a legal person company, firm or other business association or business concern, which is established or licensed licenced under the law in force, force in its territory and in which any natural or legal person investors of the other Contracting Party owns State own 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 -4) 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.Paragraphs 1, 2, 3 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.

Nationalization or Expropriation. (1) 1/ /a/ Investments of investors of either Contracting party State or any of its investors shall not be expropriateddirectly or indirectly nationalized, nationalized expropriated or subjected to measures having effect equivalent to nationalization or expropriation or nationalization (hereinafter referred to as "expropriation") in the territory of the other Contracting Party State except for a public purpose related to in the internal needs national interest of that Contracting Party State, for prompt, adequate and against reasonable compensation. (2) just compensation and on condition that such measures are taken on a non-discriminatory basis and in accordance with domestic laws of general application and are not contrary to any undertaking which that State may have given. /b/ Such compensation shall be computed on the basis of the marked fair market value of the investment immediately prior to the point of time when the decision for nationalization or expropriation was announced or became publicly knownknown 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 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 value, goodwill and other relevant factors. The 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 not less favourable than the position in which he would have been had the compensation been paid immediately on the date of expropriation or nationalization. To achieve this goal 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 expropriationhost State, shall be referred to the arbitrationarbitration in accordance with Article 11. The amount of compensation finally determined shall be promptly paid to the investor investors in freely convertible currencies and allowed to be freely repatriated without undue delay. (5) The . /c/ Where a Contracting State nationalizes or expropriates the investment of a juridical person which is established or licenced under the law in force in its territory and in which the other Contracting State or any of its investors owns shares, stocks, debentures or other rights or interest, it shall ensure that prompt, adequate and just compensation is received and allowed to be repatriated. Such compensation shall be determined and paid in accordance with the provisions of Paragraphs 1, 2, 3 subparagraph /b/ 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.Paragraphs 1, 2, 3 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.paragraph /1/.

Nationalization or Expropriation. (1) . Investments of investors of either Contracting party Party shall not be expropriatednationalized, nationalized expropriated or subjected to measures having effect equivalent to expropriation or nationalization (hereinafter referred to as "expropriation") in the territory of the other Contracting Party Party, except for in the public interest. The expropriation shall be carried out under due process of law, on a public purpose related to the internal needs of that Contracting Party and non-discriminatory basis, against reasonable compensation. (2) adequate compensation which shall be effected without undue delay. Such compensation shall be computed on amount to the basis of the marked market value of the investment expropriated immediately prior before the expropriation or before the impending expropriation became public knowledge, whichever is earlier (hereinafter referred to as the point "valuation date"). Compensation shall be calculated in a convertible currency at the prevailing exchange rate existing on the "valuation date". 2. In case that the object of time when nationalization or expropriation is a joint-venture constituted in the decision for expropriation was announced or became publicly known. Where territory of one of the market value cannot be readily ascertainedContracting Parties, the compensation shall to 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 paid 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 investor 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 calculated taking into account the basis share of such investor in the recognized principles of valuation such as joint-venture, is accordance with main documents referring to its participation in 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 knowncompany. The compensation Compensation shall include interest at the current LIBOR rate of interest applicable to be considered just and fair if it is paid in the currency in which a foreign investor realized the investment investment, or in any other currency accepted by the investor. Compensation shall be made without undue delay, within the term not longer than 3 months from the date, on which the decision about its value, was originally undertaken made. Compensation shall include interest calculated on the six months LIBOR basis, from the date of nationalization or expropriation until till the date of paymentpayment effected. (4) 3. The determination investor affected shall have a right, under the laws and regulations of the amount Contracting Party making the expropriation, to prompt review of compensation, his or its case by a judicial or other independent authority of that Contracting Party and to the evaluation of his or its investments in accordance with the absence of agreement being reached between principles set out in this Article. 4. If the investor and the Contracting party taking expropriationParty or its competent body, shall be referred to cannot reach an agreement, the arbitration. The amount of compensation finally determined shall be paid determined according to procedure for settlement of disputes according to Article 9 of the Agreement. Compensation shall be freely transferable. 5. If the expropriated property, either completely or partially, does not serve the anticipated purpose in public interest, according to decision on expropriation based on law, the expropriated owner and his or its assignee are allowed to buy back that property at the market value, according to the investor in freely convertible currencies laws and allowed to be repatriated without undue delayregulations of the Contracting Party where the expropriation has been made. (5) The provisions of Paragraphs 1, 2, 3 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.Paragraphs 1, 2, 3 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.

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 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.Paragraphs 1, 2, 3 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.