Common use of Sundries Clause in Contracts

Sundries. 19.1 If in one or more cases any of the Parties fails to invoke or insist on compliance with any of the provisions under the Agreement or to exercise any of the rights awarded under the Agreement, such omission or failure to insist will not be construed as a waiver of such provision or rights. 19.2 In executing the Operations, the Contractor will comply with all the decisions made by competent authorities in the exercise of their legal mandate. Likewise, the Contractor commits to honor all the decisions of competent authorities relating to national defense and security. 19.3 The Contractor has the right to freely enter and leave the Agreement Area. 19.4 Pursuant to legislation in force, the Contractor will have the right to utilize in the Operations, the water, wood, gravel and other construction materials found within the Agreement Area with due respect for third parties rights as appropriate. 19.5 The license to use technical information concerning the Agreement Area, and other areas, which the Contractor may wish to purchase from PERUPETRO, will be granted pursuant to PERUPETRO’S policy for Managing Exploration and Development Technical Information for which purpose the Parties will sign a Letter of Agreement. 19.6 If one of the Parties fails to pay, within the agreed deadline, the amount due, it will pay following interest trade starting on the day after the date foreseen for that payment: a) For debts payable denominated in domestic currency, the applicable rate will be the active rate in domestic currency (TAMN) for loans with tenure up to three hundred sixty (360) days as published by the Superintendence for Banking and Insurance Companies or its successor, and applied over the period elapsed between the due date and the actual payment date; and, b) For debts denominated in dollars, and payable in domestic currency or in dollars, the applicable rate will be the U.S. Prime Rate plus three percent (3%) points published by the Federal Reserve of the United States of America, applied to the period running from the due date to the actual date of payment, and in the absence of the latter rate, the Parties will agree on an appropriate replacement. 19.7 The provisions under heading 19.6 will apply to all debts between Parties flowing from this Agreement or any other agreement or transaction between the Parties. By written agreement between the parties, a different provision may be introduced concerning the payment of interest. The provisions herein applicable will not in any way modify the legal rights and resources available to the Parties to enforce the payment of amounts due. 19.8 In case of national emergency declared by law, by virtue of which the State is obliged to purchase hydrocarbons from local producers, such purchase will be made at the prices resulting from enforcing the valuation mechanisms established by clause eight and shall be payable in dollars within thirty (30) after the delivery has been effected. 19.9 Through the Ministry of Defense and Ministry of Internal Affaire the State will give the Contractor within the Operations and to the extent possible all necessary security measures. 19.10 The Contractor will hold PERUPETRO and the State free, and indemnify them, as appropriate, from any claim, legal action or other charges, and encumbrances from third parties that may result from the Operations and the relations the Contractor may enter in connection with the Agreement and which may flow from any contractual or extra-contractual relationship, excepting those originating by actions of PERUPETRO itself or the State. 19.11 The Contractor will freely dispose of the hydrocarbons to which it is entitled pursuant to the Agreement.

Sundries. 19.1 If in one or more cases any of the Parties fails to invoke or insist on compliance with any of the provisions under the Agreement or to exercise any of the rights awarded under the Agreement, such omission or failure to insist will not be construed as a waiver of such provision or rights. 19.2 In executing the Operations, the Contractor will comply with all the decisions made by competent authorities in the exercise of their legal mandate. Likewise, the Contractor commits to honor all the decisions of competent authorities relating to national defense and security. 19.3 The Contractor has the right to freely enter and leave the Agreement Area. 19.4 Pursuant to legislation in force, the Contractor will have the right to utilize in the Operations, the water, wood, gravel and other construction materials found within the Agreement Area with due respect for third parties rights as appropriate. 19.5 The license to use technical information concerning the Agreement Area, and other areas, which the Contractor may wish to purchase from PERUPETRO, will be granted pursuant to PERUPETRO’S policy for Managing Exploration and Development Technical Information for which purpose the Parties will sign a Letter of Agreement. 19.6 If one of the Parties fails to pay, within the agreed deadline, the amount due, it will pay following interest trade starting on the day after the date foreseen for that payment: a) For debts payable denominated in domestic currency, the applicable rate will be the active rate in domestic currency (TAMN) for loans with tenure up to three hundred sixty (360) days as published by the Superintendence for Banking and Insurance Companies or its successor, and applied over the period elapsed between the due date and the actual payment date; and, b) For debts denominated in dollars, and payable in domestic currency or in dollars, the applicable rate will be the U.S. Prime Rate plus (3) three percent (3%) points published by the Federal Reserve of the United States of America, applied to the period running from the due date to the actual date of payment, and in the absence of the latter rate, the Parties will agree on an appropriate replacement. 19.7 The provisions under heading 19.6 will apply to all debts between Parties flowing from this Agreement or any other agreement or transaction between the Parties. By written agreement between the parties, a different provision may be introduced concerning the payment of interest. The provisions herein applicable will not in any way modify the legal rights and resources available to the Parties to enforce the payment of amounts due. 19.8 In case of national emergency declared by law, by virtue of which the State is obliged to purchase hydrocarbons from local producers, such purchase will be made at the prices resulting from enforcing the valuation mechanisms established by clause eight and shall be payable in dollars within thirty (30) after the delivery has been effected. 19.9 Through the Ministry of Defense and Ministry of Internal Affaire the State will give the Contractor within the Operations and to the extent possible all necessary security measures. 19.10 The Contractor will hold PERUPETRO and the State free, and indemnify them, as appropriate, from any claim, legal action or other charges, and encumbrances from third parties that may result from the Operations and the relations the Contractor may enter in connection with the Agreement and which may flow from any contractual or extra-contractual relationship, excepting those originating by actions of PERUPETRO itself or the State. 19.11 The Contractor will freely dispose of the hydrocarbons to which it is entitled pursuant to the Agreement.