Operations with Exclusive Risks Sample Clauses

Operations with Exclusive Risks. Operations carried out without the participation of all the Contractors, in accordance with the Operations with Exclusive Risks of Annex XI Consortium Rules.
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Operations with Exclusive Risks. Limitation of Applicability Operations with Exclusive Risks may be proposed by any Contractor as long as the interested party or parties undertake all risks, being responsible for costs and investments and undertaking liability for any damages related to the conduct of the Operations and its consequences. No Operations with Exclusive Risk may be proposed by the Manager. The Contracted Parties choosing not to participate in an Operation with Exclusive Risk shall neither undertake risks, nor be responsible for costs and investments, nor undertake liability for any damages related to the conduct of the Operation and its consequences. Only the following Operations may be proposed and conducted as Operations with Exclusive Risks: drilling and/or testing in exploratory xxxxx and assessment xxxxx; deepening, lateral deviation, secondary cementation, and/or recompletion of xxxxx; acquisition of geological and geophysical data.
Sample 1
Operations with Exclusive Risks. Limitation of Applicability Operations with Exclusive Risks may be proposed by any Contractor as long as the interested party or parties undertake all risks, being responsible for costs and investments and undertaking liability for any damages related to the conduct of the Operations and its consequences. Petrobras, as the sole Operator under this Agreement, shall conduct any and all approved Operation with Exclusive Risk according to the Best Practices of the Oil Industry and the “No Gain, No Loss” Principle When conducting an Operation with Exclusive Risk in which it does not participate, Petrobras may require payment in advance of the costs related to such Operation and shall not be required to start or proceed with the Operation with Exclusive Risk until such advance payments are made. . The Manager may not propose Operations with Exclusive Risk. The Contracted Parties choosing not to participate in an Operation with Exclusive Risk shall neither undertake risks, nor be responsible for costs and investments, nor undertake liability for any damages related to the conduct of the Operation and its consequences. Only the following Operations may be proposed and conducted as Operations with Exclusive Risks: drilling and/or testing in exploratory xxxxx and assessment xxxxx; deepening, lateral deviation, secondary cementation, and/or recompletion of xxxxx; acquisition of geological and geophysical data.
Sample 1

Related to Operations with Exclusive Risks

  • Relations with Governments The COMPANY has not made, offered or agreed to offer anything of value to any governmental official, political party or candidate for government office nor has it otherwise taken any action which would cause the COMPANY to be in violation of the Foreign Corrupt Practices Act of 1977, as amended, or any law of similar effect.

  • Transactions with Related Parties Enter into or be a party to any transaction or arrangement, including, without limitation, the purchase, sale lease or exchange of property or the rendering of any service, with any Related Party, except in the ordinary course of and pursuant to the reasonable requirements of the Borrower's or the applicable Subsidiary's business and upon fair and reasonable terms no less favorable to the Borrower or such Subsidiary than would obtain in a comparable arm's-length transaction with a Person not a Related Party.

  • Transactions with Insiders So long as the Note is outstanding, the Company shall not, and shall cause each of its subsidiaries not to, enter into, amend, modify or supplement, or permit any subsidiary to enter into, amend, modify or supplement any agreement, transaction, commitment, or arrangement relating to the sale, transfer or assignment of any of the Company’s tangible or intangible assets with any of its Insiders (as defined below)(or any persons who were Insiders at any time during the previous two (2) years), or any Affiliates (as defined below) thereof, or with any individual related by blood, marriage, or adoption to any such individual. Affiliate for purposes of this Section 9(r) means, with respect to any person or entity, another person or entity that, directly or indirectly, (i) has a ten percent (10%) or more equity interest in that person or entity, (ii) has ten percent (10%) or more common ownership with that person or entity, (iii) controls that person or entity, or (iv) shares common control with that person or entity. “Control” or “Controls” for purposes hereof means that a person or entity has the power, direct or indirect, to conduct or govern the policies of another person or entity. For purposes hereof, “Insiders” shall mean any officer, director or manager of the Company, including but not limited to the Company’s president, chief executive officer, chief financial officer and chief operations officer, and any of their affiliates or family members.

  • Transactions with Related Persons Directly or indirectly enter into any transaction with or for the benefit of a Related Person on terms more favorable to the Related Person than would have been obtainable in an “arms’ length” dealing.

  • VACATIONS WITH PAY 21.01 All regular employees will receive vacation with pay in accordance with the following schedule.

  • Obligations with Respect to Loan Parties The obligations of the Borrower to direct or prohibit the taking of certain actions by the other Loan Parties as specified herein shall be absolute and not subject to any defense the Borrower may have that the Borrower does not control such Loan Parties.

  • Communications with Accountants Each of the Borrowers authorizes the Administrative Agent and, if accompanied by the Administrative Agent, the Lenders to communicate directly with the Accountants and authorizes the Accountants to disclose to the Administrative Agent and the Lenders any and all financial statements and other supporting financial documents and schedules including copies of any management letter with respect to the business, financial condition and other affairs of such Borrower or any of its Subsidiaries. At the request of the Administrative Agent, such Borrower shall deliver a letter addressed to the Accountants instructing them to comply with the provisions of this §8.9.2.

  • Business With Cuba The Company has complied with all provisions of Section 517.075, Florida Statutes (Chapter 92-198, Laws of Florida) relating to doing business with the Government of Cuba or with any person or affiliate located in Cuba.

  • Transactions with Interested Persons Neither Seller nor any principal, officer, supervisory employee or director of Seller or any of their respective spouses or family members owns directly or indirectly, on an individual or joint basis, any material interest in, or serves as an officer or director or in another similar capacity of, any competitor or supplier of Seller, or any organization which has a material contract or arrangement with Seller.

  • Communications with Shareholders Any notices, reports, statements, or communications with Shareholders of any kind required under this Declaration, including any such communications with Shareholders or their counsel or other representatives required under Section 9.8 hereof, or otherwise made by the Trust or its agents on behalf of the Trust shall be governed by the provisions pertaining thereto in the Bylaws.

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