CINL definition
Examples of CINL in a sentence
Allied, CINL, and CPL are hereinafter referred to individually as a “Party” and collectively as the “Parties”.
On June 3, 1992, Allied was awarded Oil Prospecting License 210 (“OPL 210”) by the Federal Republic of Nigeria, 2.5% of the interest in which Allied subsequently assigned to CAMAC INTERNATIONAL (NIGERIA) LIMITED, a company incorporated in the Federal Republic of Nigeria (“CINL”), on September 30, 1992, pursuant to an assignment agreement by and between Allied and CINL.
Allied shall (and, to the extent reasonably within its power, shall cause CINL and NAE to) take all reasonable action and afford all cooperation necessary or requested by CPL to ensure CPL enjoys all rights and has the ability to enforce all such rights as if CPL were a party to the PSC having the rights and obligations granted to it under the Second Novation Agreement.
If such reversion occurs, Allied, CINL and CPL shall execute a novation agreement, and shall use their reasonable efforts to cause any other required party to execute a novation agreement, to effect such reversion.
Entry by CPL, CINL, Allied and NAE into a Novation Agreement in a form satisfactory to CEHL and CEI, which agreement shall include a waiver by NAE of the enforcement of Section 8.1(e) of the PSC and its agreement that, notwithstanding anything to the contrary contained in the PSC, the profit sharing allocation set forth in the PSC shall be maintained after the consummation of the Transaction.
Upon CPL’s request, all of the audit rights of Allied and CINL described in the PSC, including Section 13.3, shall be enforced or carried out.
Allied shall (and, to the extent reasonably within its power, shall cause CINL and NAE to) take all reasonable action and afford all cooperation necessary or requested by Newco to ensure Newco enjoys all rights and has the ability to enforce all such rights under the PSC directly relating to the Oyo Field as if Newco were a party to the PSC.
With respect to any Transferred Contracts retained by Allied or CINL pursuant to the previous sentence, the CEI Parties shall reimburse Allied for the direct costs payable to the counterparty for the benefits received by the CEI Parties under any retained Transferred Contracts, but any such reimbursement shall exclude any general and administrative costs incurred by Allied or CINL, as applicable.
The Sellers agree to use their best efforts to take, or cause to be taken, all actions, and to do, or to cause to be done, all things necessary, proper or desirable to obtain a new power of attorney executed by CINL conveying all of the Shares owned by it in favour of ▇▇ ▇.
CEI shall cause any Consideration Shares issued to CEHL, as nominee for Allied and CINL (or its designees) hereunder to be duly authorized, validly issued, fully paid and nonassessable, and CEI will cause such Consideration Shares to be issued to CEHL (or its designee) in compliance with all applicable Laws.