Common use of Persons Benefitting Clause in Contracts

Persons Benefitting. 22 12.4 Counterparts...................................................................................22 12.5 Amendments.....................................................................................22 12.6 Inspection.....................................................................................23 12.7 Entire Agreement...............................................................................23 12.8 Headings.......................................................................................23 EXHIBITS Form of Warrant Certificate.....................................................................................A-1 MASTER WARRANT AGREEMENT THIS MASTER WARRANT AGREEMENT is entered into ___________, 2001, between SEVEN SEAS PETROLEUM INC., a Cayman Islands exempted company limited by shares (the "Company"), and U.S. TRUST COMPANY OF TEXAS, N.A. (the "Warrant Agent").

Persons Benefitting. 22 12.4 Counterparts...................................................................................22 12.5 Amendments.....................................................................................22 12.6 Inspection.....................................................................................23 12.7 Entire Agreement...............................................................................23 12.8 Headings.......................................................................................23 EXHIBITS Form of Warrant Certificate.....................................................................................A-1 -iii- 57 MASTER WARRANT AGREEMENT THIS MASTER WARRANT AGREEMENT is entered into ___________, 2001, between SEVEN SEAS PETROLEUM INC., a Cayman Islands exempted company limited by shares (the "Company"), and U.S. TRUST COMPANY OF TEXAS, N.A. (the "Warrant Agent").

Persons Benefitting. 22 12.4 Counterparts...................................................................................22 12.5 Amendments.....................................................................................22 12.6 Inspection.....................................................................................23 12.7 Entire Agreement...............................................................................23 12.8 Headings.......................................................................................23 EXHIBITS Form of Warrant Certificate.....................................................................................A-1 MASTER WARRANT AGREEMENT THIS MASTER WARRANT AGREEMENT is entered into ___________December 14, 2001, between SEVEN SEAS PETROLEUM INC., a Cayman Islands exempted company limited by shares (the "Company"), and U.S. TRUST COMPANY OF TEXAS, N.A. (the "Warrant Agent").