Company Performance Guarantee definition
Company Performance Guarantee means a written assurance by an Affiliate of Contractor to be approved by Staatsolie, or in the case of multiple Contractor Parties, an Affiliate of each Contractor Party to be approved by Staatsolie, for the satisfactory performance and discharge of Contractor’s obligations during the term of this Contract and, in the event of withdrawal by Contractor, to make payment as specified in Sub-Article 5.7.1(i).
Examples of Company Performance Guarantee in a sentence
On or before entering into any phase of the Exploration Period, Contractor shall provide Staatsolie with a Parent Company Performance Guarantee guaranteeing the execution of the Minimum Work Obligation, for the relevant phase as described in Annex 7.
On or before entering into any phase of the Exploration Period, Contractor shall provide Staatsolie with a Company Performance Guarantee guaranteeing the execution of the Minimum Work Obligation, for the relevant phase as described in Annex 6.