Assignment of an Area in the Production Phase. The Assignment of a portion of a Field shall not be accepted, except as an alternative to a Production Individualization Agreement, as long as approved by ANP under the Applicable Laws and Regulations.
Assignment of an Area in the Production Phase. The Assignment of a portion of a Field shall not be accepted, except as an alternative to a Production Individualization Agreement not materialized, at ANP’s discretion. Assignment Nullity and Need for Prior Express Approval Any Assignment that does not comply with the provision in this Section or in the Applicable Laws and Regulations shall be lawfully null and subject to the penalties provided for in this Agreement and in the Applicable Laws and Regulations. Approval of Assignment ANP shall have a ninety (90)-day period as of submission of the full documentation and as required, under the Applicable Laws and Regulations, to resolve upon the Assignment. The Assignment of the Agreement shall only be authorized, except in the event of paragraph 30.4.2, when: the concessionaires perform the obligations in the Agreement; the assignor and the assignee, or the guaranteed party, in the events of exemption or replacement of a performance guarantee, perform all their obligations related to the government and third-party shares, in compliance with all concession agreements or production sharing agreement to which they are parties.
