Examples of Financial guarantee in a sentence
SECTION ELEVEN – COMPENSATORY PENALTY FOR DEFAULT OF THE MINIMUM EXPLORATION PROGRAM AND FINANCIAL GUARANTEE Default of the Minimum Exploration Program and Provision of Financial Guarantee In the event of full or partial default of the Minimum Exploration Program, the Contractor may not proceed with the Production Phase and shall be required to pay to the Contracting Party the amount set forth in Annex II per activity defaulted, as compensatory penalty.
SECTION ELEVEN – COMPENSATORY PENALTY FOR DEFAULT OF THE MINIMUM EXPLORATION PROGRAM AND FINANCIAL GUARANTEE Default of the Minimum Exploration Program and Provision of Financial Guarantee In the event of full or partial default of the Minimum Exploration Program, the Contractor may not proceed with the Production Phase and shall be required to pay to the Contracting Party the amount set forth in ANNEX II per activity defaulted, as compensatory penalty.
There are two alternative Participation Commitment Mechanisms under the Model (Financial Guarantee Participation Commitment Mechanism or Retention Withhold Participation Commitment Mechanism).
Liability upon this Land Reclamation Financial Guarantee shall continue for the duration of the mining activity, including its reclamation as provided in the Law, the regulations and the conditions of the permit, at the operation conducted hereunder and for a period of five (5) years thereafter, unless released in whole or in part by the Department prior thereto, as provided by the law.
Initial Work Program Area km² PTI (No. of activities) «area_marginal accumulation» «area_km2» «pti» Total Amount of the Initial Work Program and Financial Guarantee Price of the PTI (R$) Price of the Guarantee of the PTI (R$) «price_pti» («price_pti_in words») «guarantee_pti» («guarantee_pti_in words») Legend: AT1 – Reentry in xxxxx aiming at rehabilitating the production; AT2 – Extended Well Test; AT3 – Formation Test; AT4 – 2D Seismic Reinterpretation; AT5 – 3D Seismic Reinterpretation.