Nullity of Assignment of Rights and Obligations and Need for Prior Express Approval. 30.10. Any Assignment that does not comply with the provision in this Section or in the Applicable Laws and Regulations shall be lawfully null and subject to the penalties provided for in this Agreement and in the Applicable Laws and Regulations.
Nullity of Assignment of Rights and Obligations and Need for Prior Express Approval. Any Assignment that does not comply with the provision in this section or in the Applicable Laws and Regulations shall be lawfully null and subject to the penalties provided for in this Agreement and in the Applicable Laws and Regulations. Approval of Assignment ANP shall have a ninety (90)-day period as of submission of the full documentation and as required, under the Applicable Laws and Regulations, to resolve upon the Assignment. The Assignment of the Agreement shall only be authorized, except in the event of paragraph 30.4.2, when: the Concessionaires perform the obligations under the Agreement; and the assignor and the assignee, or the guaranteed party, in the events of exemption or replacement of a performance guarantee, perform all their obligations related to Government and Third-party Shares, in compliance with all concession agreements or production sharing agreement to which they are parties. If the assignor is in default and the Assignment is not voluntary, as determined by ANP or as a result of an execution of a contract clause with third parties, the Assignment shall be allowed if the assignee or the executor of the guarantee pays the obligations related to the contracts to be assigned; provided that they undertake to transfer any amount eventually payable to the assignor as a result of the Assignment directly to ANP, until the assignor’s full debt to ANP is settled. Assignment to an Affiliate shall not be accepted in the event provided for in paragraph 28.11.1.
Nullity of Assignment of Rights and Obligations and Need for Prior Express Approval. 62 Approval of Assignment 62 Effectiveness and Efficacy of the Assignment 63 New Production Sharing Agreement 63 31 Section Thirty-One– Relative Default and Penalties 63 Legal and Contractual Sanctions 63 32 Section Thirty-Two – Termination of the Agreement 64 Lawful Termination 64 Termination upon mutual Agreement between the Parties 64 Unilateral Termination 64 Termination for Absolute Default 65 Consequences of Termination 65 Option for Sanctions 65 33 Section Thirty-Three – Act of God, Force Majeure, and Similar Causes 66 Full or Partial Exemption 66 Amendment, Suspension, and Termination of the Agreement 66 Environmental Permitting 67 Losses 67 34 Section Thirty-Four – Confidentiality 67 Contracting Party’s and ANP’s Commitment 68 35 Section Thirty-Five – Notices, Requests, Communications, and Reports 69 Notices, Requests, Plans, Programs, Reports, and other Communications 69 Addresses 69 Validity and Efficacy 69 Amendments to the Acts of Incorporation 69 36 Section Thirty-Six – Legal Regime 70 Governing Law 70 Reconciliation 70 Suspension of Activities 70 Arbitration 71 Jurisdiction 72 Continuous Application 72 37 Section Thirty-Seven – Final Provisions 72 Execution of the Agreement 72 Amendments and Addenda 72 Disclosure 73 ANNEX I – CONTRACT AREA 74 ANNEX II – MINIMUM EXPLORATION PROGRAM 75 XXXXX XXX – FINANCIAL GUARANTEE OF THE EXPLORATION ACTIVITIES 76 XXXXX XX – PERFORMANCE GUARANTEE 77 ANNEX V – GOVERNMENT REVENUE 78 XXXXX XX – GENERAL INSTRUCTIONS FOR THE EXPLORATION PLAN 79 General Considerations 79 Objective 79 Content of the Exploration Plan 80 Changes in the Exploration Plan 80 Completion of the Exploration Plan Spreadsheet 84 ANNEX VII – PROCEDURES FOR CALCULATION OF COST AND PROFIT OIL 86 Gross Production Value 86 Reference Prices of Oil 86 Reference Prices of Natural Gas 86 General Provisions of Cost Oil 87 Exploration and Assessment Activities 88 Development Activities 89 Production Activities 89 Decommissioning of Facilities 89 Rentals, Charters, and Leases 89 Payments to Affiliates 90 Expenditures not included in Cost Oil 90 Calculation of the Federal Government's Profit Oil 92 ANNEX X – CONSORTIUM AGREEMENT 96 ANNEX XI – CONSORTIUM RULES 104 Deadline for creation 104 Composition 104 Meetings 105 Quorum of the meeting 106 Postal voting 108 Voting effects 109 Call for Technical Specialists and Creation of Subcommittees 109 Internal Regulation of the Operating Committee 109 Operating expenses of the Operating Committee 109 Emergency Op...
Nullity of Assignment of Rights and Obligations and Need for Prior Express Approval. Any Assignment that does not comply with the provision in this Section or in the Applicable Laws shall be lawfully null and subject to the penalties provided for in this Agreement and in the Applicable Laws. Approval of Assignment ANP shall have a ninety (90)-day period as of submission of the full documentation and as required, under the Applicable Laws, to resolve upon the Assignment. The Assignment of the Agreement shall only be authorized, except in the event of paragraph 26.5.2, when:
Nullity of Assignment of Rights and Obligations and Need for Prior Express Approval. 59 Approval of Assignment 59 Effectiveness and Efficacy of the Assignment 60 New Production Sharing Agreement 60 31 SECTION THIRTY-ONE– RELATIVE DEFAULT AND PENALTIES 60 Legal and Contractual Sanctions 60 32 SECTION THIRTY-TWO – TERMINATION OF THE AGREEMENT 61 Lawful Termination 61 Termination upon mutual Agreement between the Parties 61 Unilateral Termination 61 Termination for Absolute Default 62
