TECHNOLOGICAL TRANSFER Clause Samples

TECHNOLOGICAL TRANSFER. THE ASSOCIATE agrees to implement, at its expense, a training program for ECOPETROL professionals in areas related with the development of the contract. For compliance with this obligation in the Exploration Period, training may be, among others, in the areas of geology, geophysics and related areas, evaluation and definition of characteristics of reservoirs, drilling and production. Training shall be provided during the entire Exploration Period of six (6) months and its extensions, through the integration of the professionals appointed by ECOPETROL to the work group THE ASSOCIATE organizes for the Contracted Area or for other similar activities of THE ASSOCIATE. To decide for the waiver dealt with in Clause 5 of this contract, THE ASSOCIATE must have previously complied with the training programs herein provided for. In the Exploitation Period, the scope, duration, place, participants, training conditions and other aspects shall be established by the Association's Executive Committee. All of the costs of supervised training, with the exception of the labor ones caused in favor of the professionals who get said training, shall be borne by THE 44 44 ASSOCIATE in the Exploration Period and by both Parties charged to the Joint Account in the Exploitation Period. PARAGRAPH: To be agreed. CLAUSE 33. INSURANCE THE ASSOCIATE or the Operator will take all the insurance policies required by the Colombian laws. Likewise, it will require each contractor that perform any job in development of this contract to acquire and keep in effect all the insurance policies that the Operator may consider necessary. Also the Operator will take all the insurance policies that the Executive Committee may consider advisable. Upon termination of this contract, at any time during the exploitation period or due to expiration of the term set forth in Clause 23, the Operator and/or THE ASSOCIATE shall take out an insurance policy that guarantee payment of salaries, benefits and indemnities and other labor debts due to eventual legal sentences derived from claims from the workers hired by the Operator in its condition as their sole and true employer and during the time of operation of the Commercial Field. The policy term shall not be less than three (3) years counted as of the date of termination of the Association contract and the insured value shall be defined by the Executive Committee, subject to that set forth in the labor provisions applicable to the respective employment contracts...