Common use of Termination for Absolute Default Clause in Contracts

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members to perform the contractual obligations, except if they are lawfully waived; judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, before termination of the Agreement, ANP shall notify the Consortium Members to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one Contractor, and if the Assignment provided for in paragraph 32.4.2 is not performed, the Contracting Party shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting Contractors, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Contracted Parties to perform the contractual obligations, except if they are lawfully waived; judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, before termination of the Agreement, ANP shall notify the Consortium Members to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Contracted Party shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of subject to imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorContracted Party, and if the Assignment provided for in paragraph 32.4.2 31.4.2 is not performed, the Contracting Party shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsContracted Parties, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Contracted Parties to perform the contractual obligations, except if they are lawfully waived; judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, paragraph 29.4, before termination of the Agreement, ANP shall notify the Consortium Members to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Contracted Party shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of subject to imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorContracted Party, and if the Assignment provided for in paragraph 32.4.2 29.4.2 is not performed, the Contracting Party shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsContracted Parties, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members to perform the contractual obligationsobligations within the term established by ANP, except if they are lawfully waived; judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, before To entail termination of the Agreement, ANP shall notify the Consortium Members term referred to perform the obligation in item “a” may not performed within a term of no less be shorter than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this AgreementSection Thirty-One, in addition to contract termination. In case of there is more than one Contractor, and if the Assignment provided for in paragraph 32.4.2 is not performed, the Contracting Party termination shall be effective only terminate this Agreement with respect to the defaulting party, and which is allowed to transfer its undivided share in the rights and obligations of this Agreement is divided between to the other non-defaulting Contractors, in the proportion of their sharesconsortium members, upon prior and express approval by of the Contracting Party, based on ANP’s opinion. In case the Assignment provided for in paragraphs 32.4.2 and 32.4.3 is not made, the Contracting Party shall terminate this Agreement with respect to the defaulting Contractor, without prejudice to the rights and obligations of the other Contractors regarding such termination.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, pursuante paragraph 26.5, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 26.5.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 26.5.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 30.4.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, paragraph 30.5, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 30.4.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, paragraph 30.4, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 30.4.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 29.4.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”, paragraph 26.5, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 26.5.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.

Termination for Absolute Default. This Agreement shall be terminated upon the following events: failure by the Consortium Members Concessionaire to perform the contractual obligations, except if they are lawfully waived; or judicial or extrajudicial reorganization, with no submission of an approved reorganization plan able to demonstrate to ANP its economic and financial capacity to fully perform all contractual and regulatory obligations. In case of item “a”” of paragraph 30.4, before termination of the Agreement, ANP shall notify the Consortium Members Concessionaire to perform the obligation not performed within a term of no less than ninety (90) days, except when extremely urgent. After confirming the absolute default, the Contractor Concessionaire shall be granted a ninety (90)-day period, or shorter, when extremely urgent, to formalize before ANP the request for Assignment of its undivided share in the rights and obligations of this Agreement, under penalty of imposition of the penalties provided for in this Agreement, in addition to contract termination. In case of more than one ContractorConcessionaire, and if the Assignment provided for in paragraph 32.4.2 30.4.2 is not performed, the Contracting Party ANP shall only terminate this Agreement with respect to the defaulting party, and its undivided share in the rights and obligations of this Agreement is divided between the other non-defaulting ContractorsConcessionaires, in the proportion of their shares, upon prior and express approval by the Contracting Party, based on ANP’s opinion.