Effectiveness and Efficacy Sample Clauses

Effectiveness and Efficacy. This Agreement shall be effective for thirty-five (35) years, being valid and in effect as of the date of its execution. Division into phases This Agreement shall be divided into two phases: Exploration Phase, for the whole Contract Area, with expected duration set forth in Annex II; and Production Phase, with the duration defined in paragraph Error: Reference source not found. PRODUCTION SHARING
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Effectiveness and Efficacy. 4.1. This Agreement shall be effective for thirty-five (35) years, being valid and in effect as of the date of its execution.
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Effectiveness and Efficacy. This Agreement shall be effective for thirty-five (35) years, being valid and in effect as of the date of its execution. Division into phases This Agreement shall be divided into two phases: Exploration Phase, for the whole Contract Area, expected duration of which is set forth in Annex II; and Production Phase, duration of which is defined in paragraph Error: Reference source not found. PRODUCTION SHARING SYSTEM SECTION FIVE – RECOVERY AS COST OIL Right to Recovery as Cost Oil Exclusively in case of a Commercial Discovery, the Contracted Party shall be entitled to receive, as Cost Oil, a share of the Oil and Gas Production, according to the terms, criteria, and conditions established in Annex VII. Calculation and Recovery as Cost Oil T he expenditures below shall be recovered as Cost Oil, according to the methodology and procedures provided for in Annex VII: expenditures previously approved by the Operating Committee or those which approval is waived by this Agreement; and expenditures recognized by the Manager. The expenditures below incurred by the Contracted Parties during the period prior to the execution of the Agreement and until creation of the Operating Committee may be recovered as Cost Oil and as long as , cumulatively: related to the collection of data and information, acquisition of governmental licenses, authorizations, and permits; subject to recovery, pursuant to the criteria provided for in Annex VII; and ratified by the Operating Committee, prior to their actual recovery as Cost Oil. Recovery as Cost Oil Expenditures to be recovered as Cost Oil shall be registered in proper account, referred to as Cost Oil account. During the Production Phase, the Contracted Party shall, every month, receive the Production share corresponding to the Cost Oil, observing the limit of the Gross Production Value, defined in Annex XII. Costs that exceed the limits defined and are not recovered as Cost Oil at a certain calendar year shall be accrued for appropriation in the subsequent years. Expenditures recognized as Cost Oil shall be annually adjusted preferably according to the Extended National Consumer Price Index (IPCA) of the Brazilian Institute of Geography and Statistics – IBGE, or according to another index that better reflects the industry expenditures, at the Manager’s discretion, and return on equity is prohibited. The Manager shall be exclusively responsible for managing the calculation, recognition, and recovery of Cost Oil and managing the Cost ...
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Related to Effectiveness and Efficacy

  • Term and Effectiveness This Agreement shall become effective as of the first date written above. Once effective, this Agreement shall remain in effect for two years, and thereafter shall continue automatically for successive one-year periods; provided that such continuance is specifically approved at least annually by: (i) the vote of the Board, or by the vote of a majority of the outstanding voting securities of the Company and (ii) the vote of a majority of the Independent Directors, in accordance with the requirements of the 1940 Act, or as otherwise permitted under Section 15 of the 1940 Act.

  • Filing and Effectiveness The Merger shall become effective when the following actions shall have been completed:

  • Effectiveness and Term 6.1 This Agreement shall take effect as of the date first written above. The term of this Agreement is ten (10) years unless early termination occurs in accordance with relevant provisions herein or any other agreement reached by the Parties.

  • Counterparts and Effectiveness This Agreement may be executed in several counterparts, which shall be treated as originals for all purposes, and all so executed shall constitute one agreement, binding on all of the parties hereto, notwithstanding that all the parties are not signatory to the original or the same counterpart. Any such counterpart shall be admissible into evidence as an original hereof against each Person who executed it. The execution of this Agreement and delivery thereof by facsimile shall be sufficient for all purposes, and shall be binding upon any party who so executes.

  • Filing and Effectiveness of Registration Statement The Company has prepared and filed with the Commission the Registration Statement (file number 333-[●]) on Form S-1, including the related Preliminary Prospectus, for registration under the Act of the offering and sale of the Offered Securities. Such Registration Statement, including any amendments thereto filed prior to the Execution Time, has become effective. The Company has filed one or more amendments thereto, including the related Preliminary Prospectus, each of which has previously been furnished to the Representative. The Company will file with the Commission the Prospectus in accordance with Rule 424(b). As filed, such Prospectus shall contain all information required by the Act and, except to the extent the Representative shall agree in writing to a modification, shall be in all substantive respects in the form furnished to the Representative prior to the Execution Time or, to the extent not completed at the Execution Time, shall contain only such specific additional information and other changes (beyond that contained in the latest Preliminary Prospectus) as the Company has advised the Representative, prior to the Execution Time, will be included or made therein. The Company has complied to the Commission’s satisfaction with all requests of the Commission for additional or supplemental information.

  • Effectiveness; Counterparts This Agreement shall become effective upon the execution of a counterpart hereof by each of the parties hereto and receipt by Borrower and Administrative Agent of written notification of such execution and authorization of delivery thereof. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic format (i.e., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement.

  • Effectiveness of Agreement This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.

  • Effectiveness of Amendment (a) This Amendment shall become effective as of the date first written above.

  • Effectiveness Conditions This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Agent and Agent’s counsel):

  • Effectiveness of Amendments The amendments contained in this Amendment shall become effective upon delivery by the Borrower of, and compliance by the Borrower with, the following:

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