Of the Concessionaire Clause Samples
The "Of the Concessionaire" clause defines the rights, responsibilities, and obligations of the party granted the concession under an agreement. Typically, this clause outlines the scope of activities the concessionaire is permitted to undertake, such as operating a business or providing services within a specified area, and may set standards for performance, reporting, and compliance with laws. Its core practical function is to clearly allocate duties and expectations to the concessionaire, ensuring both parties understand the operational framework and reducing the risk of disputes over roles or performance.
Of the Concessionaire. The CONCESSIONAIRE irrevocably represents and warrants to the PROVINCE the following:
3.1.1. It shall comply in due time and manner with the INVESTMENTS AND ACTIVITIES PLAN proposed in accordance with Sections 2.30 and 4.1 of this EXTENSION AGREEMENT;
3.1.2. It shall carry out the works according to the most rational, modern, and efficient techniques relevant to the characteristics and magnitude of the reserves proven, assuring at the same time the maximum production of hydrocarbons compatible with the economic and technically adequate exploitation of the field; and
3.1.3. It shall comply in due time and manner with the environmental remediation and restoration tasks, and any other tasks related to the adequacy of facilities, and it shall carry out the work in accordance with the most rational, modern, and efficient techniques approved by the Secretary of Environment and Climate Change of the Province and/or the authority that may substitute or replace it under the legislation in force.
Of the Concessionaire