New Production Sharing Agreement Sample Clauses

New Production Sharing Agreement. In the event of division of the Contract Area for any reason, a new Production Sharing Agreement shall be executed for each area resulting from the division, keeping the same terms, obligations, programs, and deadlines of the original Agreement.
Sample 1Sample 2Sample 3See All (16)
AutoNDA by SimpleDocs
New Production Sharing Agreement. In the event of division of the Contract Area for any reason, a new Production Sharing agreement shall be executed for each area resulting from the division, keeping the same terms, obligations, programs, and deadlines of the original Agreement. Upon approval of the Assignment, the Contracting Party shall call ANP and the Consortium Members to execute the new Production Sharing Agreements within thirty (30) days. The new Production Sharing agreements entered into by the Parties shall be effective as of the date of their execution, under the Applicable Laws and Regulations. Within the scope of credit transactions or credit facility agreement, the Contractors may create guarantee on the rights arising from this Agreement. The Contractor shall notify ANP about the guarantee operation provided for in paragraph 30.20, above, sending a copy of the relevant instrument of guarantee within thirty (30) days of the date of its execution. The guarantee shall be foreclosed under the Applicable Laws and Regulations and upon notice to ANP pursuant to the instrument of guarantee, provided that the transfer of ownership arising from the foreclosure of the guarantee is an assignment and depends on prior and express consent of the Contracting Party, based on ANP’s opinion.
Sample 1Sample 2Sample 3See All (13)
New Production Sharing Agreement. In the event of division of the Contract Area for any reason, a new Production Sharing Agreement shall be executed for each area resulting from the division, keeping the same terms, obligations, programs, and deadlines of the original Agreement. Upon approval of the Assignment of the Agreement, the Contracting Party shall call ANP and the Consortium Members to execute the new Production Sharing Agreements within thirty (30) days. The new Production Sharing Agreements entered into by the Parties shall be effective as of the date of their execution, under the Applicable Laws and Regulations. In case of failure to perform the obligations set forth in this Agreement or performance in a place, time, or manner other than that agreed, the Contractor shall incur the specific sanctions provided for herein and in the Applicable Laws and Regulations, without prejudice to the liability for potential losses and damages resulting from the default. In case of failure to comply with the Applicable Laws and Regulations, the Contractor shall incur the applicable legal and administrative sanctions. This Agreement shall be lawfully terminated: upon lapse of the effective period provided for in Section Four; upon completion of the Exploration Phase without performance of the Minimum Exploration Program; at the end of the Exploration Phase, in case there has been no Commercial Discovery; in case the Contractor fully relinquishes the Contract Area; in case the Contractor exercises its right to withdraw during the Exploration Phase; upon failure to deliver the Development Plan within the term established by ANP; upon ANP’s disapproval of the Development Plan; upon refusal of the Consortium Members to execute, in whole or in part, the Production Individualization Agreement after ANP’s decision; upon adjudication of bankruptcy or non-approval of any Contractor’s request for judicial reorganization by the competent court, pursuant to paragraph 32.4.2; This Agreement may be terminated at any time upon mutual agreement between the Parties, without prejudice to performance of the obligations set forth in Section Ten.
Sample 1Sample 2Sample 3See All (6)
New Production Sharing Agreement. In the event of division of the Contract Area provided for for any reason, a new Production Sharing contract must be signed for each area resulting from the division, keeping the same terms, obligations, programs and terms of the original Contract. After approval of the Assignment, the Contracting Party shall convene the ANP and the consortium members to enter into the new Production Sharing contracts within 30 (thirty) days. The new Production Sharing contracts signed by the parties will acquire validity and effectiveness from their signature, under the terms of the Applicable Legislation. Contracted Parties are entitled to provide, within the scope of credit operations or financing agreement, a guarantee on the rights arising from this Agreement, under the terms of the Applicable Legislation. The Contracted Parties shall notify the ANP about the guarantee operation provided for in paragraph 30.20, forwarding a copy of the respective guarantee instrument, within 30 (thirty) days from the date of its signature. The execution of the guarantee will be carried out in accordance with the Applicable Legislation and upon notification to the ANP under the terms of the guarantee instrument, provided that the transfer of title resulting from the execution of the guarantee constitutes an Assignment and depends on the Contracting Party's prior and express consent, after hearing the ANP.
Sample 1

Related to New Production Sharing Agreement

  • Revenue Sharing Agreement This Note is subject to the Company’s Revenue Sharing Agreement attached hereto as Exhibit B as if all the terms of the Revenue Sharing Agreement were set forth in this Note.

  • Tax Sharing Agreement TAX SHARING AGREEMENT" means the Tax Sharing Agreement, attached as EXHIBIT F to the Separation Agreement.

  • Supply Agreement Seller and Buyer, or their Affiliates, shall have executed the Supply Agreement.

  • Contribution Agreement The Agent shall have received an executed counterpart of the Contribution Agreement.

  • Distribution Agreements Subject to compliance with applicable provisions of the 1940 Act, the Board of Trustees may enter into a contract or contracts with one or more Persons to act as underwriters and/or placement agents whereby the Trust may either agree to sell Shares of the Trust, any Series or Class to the other party or parties to the contract or appoint such other party or parties its sales agent or agents for such Shares. In either case, the contract shall be on such terms and conditions as the Board of Trustees may in its discretion determine, not inconsistent with the provisions of this Section 5.12 or the By-laws; and such contract may also provide for the repurchase or sale of Shares of the Trust, any Series or Class by such other party as principal or as agent of the Trust and may provide that such other party may enter into selected dealer agreements with registered securities dealers and brokers and servicing and similar agreements with Persons who are not registered securities dealers to further the purposes of the distribution or repurchase of such Shares.

  • Development Agreement As soon as reasonably practicable following the ISO’s selection of a transmission Generator Deactivation Solution, the ISO shall tender to the Developer that proposed the selected transmission Generator Deactivation Solution a draft Development Agreement, with draft appendices completed by the ISO to the extent practicable, for review and completion by the Developer. The draft Development Agreement shall be in the form of the ISO’s Commission-approved Development Agreement for its reliability planning process, which is in Appendix C in Section 31.7 of Attachment Y of the ISO OATT, as amended by the ISO to reflect the Generator Deactivation Process. The ISO and the Developer shall finalize the Development Agreement and appendices as soon as reasonably practicable after the ISO’s tendering of the draft Development Agreement. For purposes of finalizing the Development Agreement, the ISO and Developer shall develop the description and dates for the milestones necessary to develop and construct the selected project by the required in-service date identified in the Generator Deactivation Assessment, including the milestones for obtaining all necessary authorizations. Any milestone that requires action by a Connecting Transmission Owner or Affected System Operator identified pursuant to Attachment P of the ISO OATT to complete must be included as an Advisory Milestone, as that term is defined in the Development Agreement. If the ISO or the Developer determines that negotiations are at an impasse, the ISO may file the Development Agreement in unexecuted form with the Commission on its own, or following the Developer’s request in writing that the agreement be filed unexecuted. If the Development Agreement is executed by both parties, the ISO shall file the agreement with the Commission for its acceptance within ten (10) Business Days after the execution of the Development Agreement by both parties. If the Developer requests that the Development Agreement be filed unexecuted, the ISO shall file the agreement at the Commission within ten (10) Business Days of receipt of the request from the Developer. The ISO will draft, to the extent practicable, the portions of the Development Agreement and appendices that are in dispute and will provide an explanation to the Commission of any matters as to which the parties disagree. The Developer will provide in a separate filing any comments that it has on the unexecuted agreement, including any alternative positions it may have with respect to the disputed provisions. Upon the ISO’s and the Developer’s execution of the Development Agreement or the ISO’s filing of an unexecuted Development Agreement with the Commission, the ISO and the Developer shall perform their respective obligations in accordance with the terms of the Development Agreement that are not in dispute, subject to modification by the Commission. The Connecting Transmission Owner(s) and Affected System Operator(s) that are identified in Attachment P of the ISO OATT in connection with the selected transmission Generator Deactivation Solution shall act in good faith in timely performing their obligations that are required for the Developer to satisfy its obligations under the Development Agreement.

  • Data Processing Agreement The Data Processing Agreement, including the Approved Data Transfer Mechanisms (as defined in the Data Processing Agreement) that apply to your use of the Services and transfer of Personal Data, is incorporated into this Agreement by this reference. Each party will comply with the terms of the Data Processing Agreement and will train its employees on DP Law.

  • Collaboration Agreement The Collaboration Agreement shall not have been terminated in accordance with its terms and shall be in full force and effect.

  • License Agreement The Trust shall have the non-exclusive right to use the name "Invesco" to designate any current or future series of shares only so long as Invesco Advisers, Inc. serves as investment manager or adviser to the Trust with respect to such series of shares.

  • Company Lock Up Agreements The Company, on behalf of itself and any successor entity, agrees that, without the prior written consent of the Placement Agent, it will not for a period of thirty (30) days after the date of this Agreement (the “Lock-Up Period”), (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any ADSs, Ordinary Shares or other capital stock of the Company or any securities convertible into or exercisable or exchangeable for ADSs, Ordinary Shares or such other shares of capital stock of the Company; (ii) file or cause to be filed any registration statement with the Commission relating to the offering of any ADSs, Ordinary Shares or other shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock of the Company; or (iii) complete any offering of debt securities of the Company, other than entering into a line of credit with a traditional bank or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of ADSs, Ordinary Shares or other capital stock of the Company, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of ADSs, Ordinary Shares or other shares of capital stock of the Company or such other securities, in cash or otherwise. The restrictions contained in this Section 3.18 shall not apply to (i) the ADSs, Ordinary Shares and the Placement Agent’s Warrant, (ii) the issuance by the Company of ADSs upon the exercise of the Placement Agent’s Warrant or a stock option or warrant or the conversion of a security outstanding on the date hereof, or issuable pursuant to currently existing undertakings of the Company, which is disclosed in the Registration Statement, Disclosure Package and Prospectus, provided that such options, warrants, and securities have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities or to extend the term of such securities, (iii) the issuance by the Company of stock options, shares of capital stock of the Company or other awards under any equity compensation plan of the Company, provided that the underlying shares shall be restricted from sale during the entire Lock-Up Period; and (iv) transactions with members of the management and/or the board of directors of the Company, involving the issuance of equity securities of the Company in consideration of cash, provided that the underlying shares shall be restricted from sale during the entire Lock-Up Period.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!