Local Content Plan definition

Local Content Plan means the plan setting out the programme of activities to be undertaken by the Licensee in relation to corporate social responsibility, and other activities in Articles 14 (Gambian Resources) and Article 15 (Employment and Training), which is submitted annually to the Government with the corresponding Work Programme and Budget.

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Local Content Plan means a plan which is directed to discharging the License Holder's obligations under Article 65(1) and which complies with the requirements prescribed in the Regulations;

Local Content Plan means a yearly plan from period 1st January to 31st December, or part thereof for the first year as applicable, submitted by the Operator to the Minister within sixty (60) days prior to the beginning of each year and updated annually. It describes forward- looking Local Content objectives and related activities andprogramscoveringtheOperator’spetroleum-related work and activities in the block, sub-divided between different petroleum projects to enable identification of the project-specific estimated utilisation of Guyanese Persons, suppliers and sub-contractors, the training of Guyanese Persons, the capacity building of Guyanese Suppliers, and other capacity building initiatives to support the objectives of Government policy for Local Content in the petroleum sector.

Examples of Local Content Plan in a sentence

• The penalties shall be imposed per milestone measurement for non-delivery of committed values in the case of a Local Content Plan or shall be imposed against the non-delivery of committed values where local content undertakings must be met immediately.

• Such Non-compliance Penalties shall be calculated and levied at the relevant milestones as stipulated in the Local Content Plan or shall be imposed against the non-delivery of committed values where local content undertakings must be met immediately, in accordance with clause iv below.

• In order to guarantee that the Supplier meets its obligations in terms of the Local Content Plan or its committed local content undertaking, Transnet shall be entitled to retain a Non-compliance Penalty at the rate of 2% of every monthly payment due by Transnet to the Supplier over the contract period (“the Local Content Retention Amount”).

• In order to guarantee that the Supplier meets its obligations in terms of the Local Content Plan or its committed local content undertaking, Transnet shall be entitled to retain a Non-compliance Penalty at the rate of 2% of every monthly payment due by 1 Actual Local Content Spend means the monetary value of local content initiatives actually delivered by the Supplier during the period under review.

• In order to guarantee that the Supplier meets its obligations in terms of the Local Content Plan or its committed local content undertaking, Transnet shall be entitled to retain a Non- compliance Penalty at the rate of 2% of every monthly payment due by Transnet to the Supplier over the contract period (“the Local Content Retention Amount”).

• In order to guarantee that the Seller meets its obligations in terms of the Local Content Plan or its committed local content undertaking, PRASA shall be entitled to retain a Non-compliance Penalty at the rate of 2% of every monthly payment due by PRASA to the Seller over the contract period (“the Local Content Retention Amount”).

• Such Non-compliance Penalties shall be calculated and levied at the relevant milestones as stipulated in the Local Content Plan or shall be imposed against the non- delivery of committed values where local content undertakings must be met immediately, in accordance with clause iv below.

• Delete reference to the Local Content Plan below if you are NOT dealing with a designated sector where local content obligations may be met over time.

• In view of the result of the analysis or evaluation work, the Parties agreed to amend the Local Content Plan in order to solve water scarcity problems in the Contract Area.

• Such Non-compliance Penalties shall be calculated and levied at the relevant milestones as stipulated in the Local Content Plan or shall be 1 Actual Local Content Spend means the monetary value of local content initiatives actually delivered by the Supplier during the period under review.

More Definitions of Local Content Plan

Local Content Plan means a forecast of procurement, employment, technology transfer, training and research and development opportunities submitted to the Authority by a licensee, subcontractor, or allied entity;

Local Content Plan means a master plan from the entire life cycle of any major project, operations stage or undertaking at any point along the value chain. The duration of this plan may be for the entire life of a project, such as a Field Development Plan, or specified period of operation, say 5 or 10 years, as approved in a Production or similar Licence. Such a plan will include a Supply Chain Management Strategy that will describe forward-looking local content objectives and related schedules, activities and programs, and quantifiable targets, including: