Common use of Reduction in the Secured Amount Clause in Contracts

Reduction in the Secured Amount. 11.16. As the Consortium Members develop the activities related to the Minimum Exploration Program or, as the case may be, the additional exploration activities in consideration for extension of the Exploration Phase, the Contractors may request ANP to reduce the amount of the financial guarantee deposited.

Reduction in the Secured Amount. 11.16. As the Consortium Members develop the activities related to the Minimum Exploration Program or, as the case may be, the additional exploration activities in consideration for extension of the Exploration PhaseProgram, the Contractors may request ANP to reduce the amount of the financial guarantee deposited.

Reduction in the Secured Amount. 11.16. As the Consortium Members develop develops the activities related to the Minimum Exploration Program or, as the case may be, the additional exploration activities in consideration for extension of the Exploration PhaseProgram, the Contractors may request ANP to reduce the amount of the financial guarantee deposited.