SMHPM definition
Examples of SMHPM in a sentence
The Assignee undertakes and covenants as a separate obligation with each of the Assignor and SMHPM to assume, observe, perform, discharge and be bound by and subject to all liabilities, duties and obligations in respect of the Assigned Interests arising under the Contract in the place of the Assignor as the Assignee becomes the holder of the Assigned Interests effective on and from the Effective Date, whether actual, accrued, contingent or otherwise.
The Assignor entered a contract for the exploration and production of Hydrocarbons in block C-18 offshore Mauritania, dated 17 May 2012 and with an effective date of 15 June 2012, with the Islamic Republic of Mauritania, as represented by the Minister in charge of Petroleum, Energy and Mines (the “Contract”) and pursuant to article 21 of the Contract the Government, through SMHPM, acquired as at the effective date of the Contract a Participating Interest of ten percent (10%).
Subject to the satisfaction of the conditions in clause 9.1, the Assignee, SMHPM, BP and Kosmos shall release and discharge the Assignor from the Assignor's Covenants with respect to the Assigned Interest under the Transfer with effect on and from the Assignment Date.