Non-Recoverable Costs. The parties agree that the City will have no liability for the following items and the Contractor agrees it shall make no claim for the following items:
44.7.3.1. Profit, or loss of anticipated or unanticipated profit;
44.7.3.2. Consequential damages, including but not limited to interest on monies in dispute, including interest which is paid on such monies, loss of bonding capacity, bidding opportunities, or interest in investment, or any resulting insolvency;
44.7.3.3. Indirect costs or expenses of any nature;
44.7.3.4. Direct or indirect costs attributable to performance of Work where the Contractor, because of situations or conditions within its control, has not progressed the Work in a satisfactory manner; and
44.7.3.5. Attorneys’ fees and dispute and claims preparation expenses.
Non-Recoverable Costs. Unless otherwise provided elsewhere in the Contract, the following list of items shall be treated as non-recoverable costs for the purpose of cost recovery:
Non-Recoverable Costs. The following costs are explicitly not recoverable as Operating Costs:
(a) bonuses and expenditure incurred by the Contractor in carrying out any obligation to fund social projects as defined in Clause 2 of the Contract;
(b) interest incurred under loans taken to finance Petroleum Operations from either inter-Affiliate loans or loans from third parties; and
(c) costs incurred in excess of five percent (5%) above costs budgeted for in a Work Program and Budget, unless such costs are approved in advance by the National Petroleum Agency.
Non-Recoverable Costs. Costs that are not recoverable as Petroleum Operations Costs shall include the following:
(a) signature bonus paid by the Contractor;
(b) any Discovery bonus paid by the Contractor;
(c) any Production bonus paid by the Contractor;
(d) annual surface rentals paid to the State;
(e) interests on loans as provided by Article 2.7 of this Accounting Procedure;
(f) any unapproved over-expenditures that exceed the limits of Article 4.4 of this Contract;
(g) any payments made to the State for failure to fulfill the minimum Exploration work obligations pursuant to Article 3 of the Contract;
(h) any fines and sanctions incurred for infringing the laws and regulations of Equatorial Guinea;
(i) any donation to the State or other similar expenses unless otherwise agreed;
(j) the State’s audit and inspection expenses incurred as a result of the absence of original documents in the Contractor’s offices in Equatorial Guinea;
(k) any sanction imposed on the Contractor under the Hydrocarbons Law or otherwise; and
(l) costs related to the assignment from the Contractor to any of its Affiliates or other Persons.
Non-Recoverable Costs. The parties agree that the City will have no liability for the following items and the Contractor agrees it shall make no claim for the following items:
Non-Recoverable Costs. Unless otherwise provided elsewhere in the Contract, the following list of items shall be treated as non-recoverable costs for the purpose of cost recovery:
10.1 Costs incurred as a result of any proven Gross Negligence or Willful Misconduct of Contractor and Operator including any amount paid in settlement of any claim alleging Gross Negligence or Willful Misconduct whether or not Gross Negligence or Willful Misconduct is admitted or whether such sum is stated to be paid on an ex-gratia or similar basis;
10.2 Replacement and/or repair costs in respect of assets or other property which is uninsured or under-insured, and liability incurred to third parties on the basis of strict liability, where Contractor and Operator has agreed with ROC to insure against such loss and has failed to do so;
10.3 Any expenditure incurred directly or indirectly in connection with the raising of money to finance Petroleum Operations and other incidental costs and charges related thereto by whatever method raised; such expenditure includes, but is not limited to, interest, commissions, fees and brokerage;
10.4 Any administration, management, or other overhead incurred by any Company except as provided in Clause 2.14;
10.5 Charges for materials and services to the extent they exceed fair market value;
10.6 Any costs for which adequate documentation or records do not exist;
10.7 In respect of costs that are related both to the Petroleum Operations and to any other activities of a Company, whether inside or outside the Republic of Iraq, the portion of such costs that is related to the activities of the Company other than the Petroleum Operations;
10.8 Except as provided in Article 9.1 and subject to Clause 2.5 of this Annex C, salaries, labor costs and employment benefits of, and any charges associated with, Company’s personnel not resident in the Republic of Iraq;
10.9 In respect of a Company’s personnel that are resident in the Republic of Iraq, that part of the salaries, labor costs and employment benefits attributable to activities other than the Petroleum Operations or that are performed outside of the Republic of Iraq, except as provided in Clause 2.1(a);
10.10 Costs of setting up and operating an office or other support facilities outside of the Republic of Iraq;
10.11 Any costs, charges or expenses including donations relating to public relations or enhancement of Contractor’s corporate image and interests;
10.12 Any penalties, fines, default interest charges or similar ex...
Non-Recoverable Costs. The parties agree that the City will have no liability for the following items and the Contractor agrees it shall make no claim for the following items:
11.9.1.1. Profit, or loss of anticipated or unanticipated profit, except as provided in Article 11.7.1.9;
11.9.1.2. Consequential damages, including, but not limited to, construction or bridge loans or interest paid on such loans, loss of bonding capacity, bidding opportunities, or interest in investment, or any resulting insolvency;
11.9.1.3. Indirect costs or expenses of any nature except those included in Article 11.7.1;
11.9.1.4. Direct or indirect costs attributable to performance of Work where the Contractor, because of situations or conditions within its control, has not progressed the Work in a satisfactory manner; and
11.9.1.5. Attorneys’ fees and dispute and claims preparation expenses.
Non-Recoverable Costs a. Delete “109-05D.1.h” and Substitute “109-05D.1.i”.
b. Delete “109-05D.1.i” and Substitute “109-05D.1.j”.
Non-Recoverable Costs. The following costs are not recoverable as Operating Costs:
(a) bonuses and expenditure incurred by the Contractor in carrying out any obligation to fund social projects as defined in Clause 2 of the Contract;
(b) interest incurred under loans taken to finance Petroleum Operations from either inter-Affiliate loans or loans from third parties; and
(c) costs incurred in excess of five percent (5%) above costs budgeted for in a Work Program and Budget, unless such costs are approved in advance by the National Petroleum Agency, which shall not be denied in cases where costs reflect fair market conditions or are technically supported.
Non-Recoverable Costs. In no event shall the City be liable for costs incurred by Contractor or any of its subcontractors after the termination date specified by the SFMTA, except for those costs specifically enumerated and described in Section 8.1.3. Such non-recoverable costs include, but are not limited to, anticipated profits on the Work under this Agreement, post-termination employee salaries, post-termination administrative expenses, post- termination overhead or unabsorbed overhead, attorneys’ fees or other costs relating to the prosecution of a claim or lawsuit, prejudgment interest, or any other expense which is not reasonable or authorized under Section 8.1.3.
