Common use of Stability Clause in Contracts

Stability. 16.1 The economic terms and conditions which will apply to KOSMOS for the activities to be conducted by KOSMOS under this Petroleum Agreement and throughout its period of validity, have been agreed after negotiations in good faith on the basis of the legislation in force in Morocco on the date of signature. 16.2 In the event that a change in Regulations has a significant adverse effect on the economic benefits that KOSMOS would have received if such change had not been made, the terms of this Agreement will be as soon as possible adjusted in order to compensate KOSMOS for such adverse effect. ONHYM shall use every effort with the STATE to preserve or re-establish in favor of KOSMOS the economic terms and conditions prevailing at the time of signature. If despite the efforts of ONHYM, this should not prove to be possible, KOSMOS shall notify in writing to ONHYM a proposal for the necessary changes to be made to the terms of this Agreement in order to compensate for such adverse effect, and the Parties shall endeavor to agree on such changes to the terms hereof. If the Parties fail to agree on such changes within a term of sixty (60) days from the date on which KOSMOS deliver a notice on this regard to ONHYM, the matter may be referred to Arbitration under Article 22

Stability. 16.1 The economic terms and conditions which will apply to KOSMOS PETCO for the activities to be conducted by KOSMOS PETCO under this Petroleum Agreement and throughout its period of validity, have been agreed after negotiations in good faith on the basis of the legislation in force in Morocco on the date of signature. 16.2 In the event that a change in Regulations has a significant adverse effect on the economic benefits that KOSMOS PETCO would have received if such change had not been made, the terms of this Agreement will be as soon as possible adjusted in order to compensate KOSMOS PETCO for such adverse effect. ONHYM shall use every effort with the STATE to preserve or re-establish in favor of KOSMOS PETCO the economic terms and conditions prevailing at the time of signature. If despite the efforts of ONHYM, this should not prove to be possible, KOSMOS PETCO shall notify in writing to ONHYM a proposal for the necessary changes to be made to the terms of this Agreement in order to compensate for such adverse effect, and the Parties shall endeavor to agree on such changes to the terms hereof. If the Parties fail to agree on such changes within a term of sixty (60) days from the date on which KOSMOS PETCO deliver a notice on this regard to ONHYM, the matter may be referred to Arbitration under Article 22.

Stability. 16.1 The economic terms and conditions which will apply to KOSMOS PETCO for the activities to be conducted by KOSMOS PETCO under this Petroleum Agreement and throughout its period of validity, have been agreed after negotiations in good faith on the basis of the legislation in force in Morocco on the date of signature. 16.2 In the event that a change in Regulations has a significant adverse effect on the economic benefits that KOSMOS PETCO would have received if such change had not been made, the terms of this Agreement will be as soon as possible adjusted in order to compensate KOSMOS PETCO for such adverse effect. ONHYM shall use every effort with the STATE to preserve or re-establish in favor of KOSMOS PETCO the economic terms and conditions prevailing at the time of signature. If despite the efforts of ONHYM, this should not prove to be possible, KOSMOS PETCO shall notify in writing to ONHYM a proposal for the necessary changes to be made to the terms of this Agreement in order to compensate for such adverse effect, and the Parties shall endeavor to agree on such changes to the terms hereof. If the Parties fail to agree on such changes within a term of sixty (60) days from the date on which KOSMOS PETCO deliver a notice on this regard to ONHYM, the matter may be referred to Arbitration under Article 22