Common use of REVISIONS AND AMENDMENTS Clause in Contracts

REVISIONS AND AMENDMENTS. In the event of a change in the technical or economical conditions used in the preparation of the Development Plan, the Concessionaire may submit revisions or amendments to the ANP, accompanied by supporting reasons, and in accordance with the applicable Brazilian legislation and with the Best Practices of the Oil Industry. If, at any time, the Development Plan ceases to comply with the applicable Brazilian legislation or with the Best Practices of the Oil Industry, the Concessionaire shall be bound to amend it so that it so complies. Amendments shall be subject to the ANP’s review and approval applying, mutatis mutandis, the provisions in paragraph 9.6. If the ANP considers that a Development Plan has ceased to comply with the applicable Brazilian legislation and the Best Practices of the Oil Industry, it may require the Concessionaire to make appropriate amendments.

REVISIONS AND AMENDMENTS. In the event of a change in the technical conditions or economical conditions economics used in the preparation formulation of the Development Plan, the Concessionaire may submit revisions or amendments to the ANP, accompanied by supporting reasons, and in accordance with the applicable Brazilian legislation and with the Oil Industry Best Practices of the Oil IndustryPractice. If, at any time, If the Development Plan at any time ceases to comply with the applicable Brazilian legislation laws and regulations or with the Oil Industry Best Practices of the Oil IndustryPractice, the Concessionaire shall be bound obligated to amend it so that it so complies. Amendments shall be subject to the ANP’s review and approval applying, mutatis mutandis, the provisions in paragraph 9.69.3. If the ANP considers believes that a Development Plan has ceased to comply with the applicable Brazilian legislation and the Oil Industry Best Practices of the Oil IndustryPractice, it may require the Concessionaire to make appropriate amendments.