Common use of APPLICATION OF THE CONTRACT Clause in Contracts

APPLICATION OF THE CONTRACT. 43.1 Subject to the provisions of the paragraph below and Article 43.4, the State guarantees to Contractor, for the term of the Contract, the stability of the legal, tax and customs, economic and financial conditions, such as these conditions result from the Contract and the laws and regulations in force at the signing date. These conditions may not be worsened, and the general and total equilibrium of the Contract will not be affected in a notable and durable manner during its term. Contractor will profit, at its request, of all provisions more favorable than those resulting from the application of the provisions of Articles 26, 31 and 34 of the Contract and which would result from laws and regulations enacted after the Effective Date of this Contract. 43.2 The Parties agree to cooperate in all possible ways in order to achieve the goals of the Contract. The Administration will facilitate to Contractor the performance of its activities by granting all permits, licenses, rights of access necessary, making available to it all existing Facilities and appropriate services, so that the Parties may obtain the best profit from an honest mutual cooperation. However, Contractor must comply with the procedures and formalities of use and contact the competent departments of the Administration to obtain the necessary approvals and authorizations. It is obligated to inform the Departments Responsible for Hydrocarbons of the steps, contacts or correspondences carried out and maintained by it with the other departments of the Administration. 43.3 Any total or partial nationalization or expropriation of the rights of Contractor gives rise to fair and equitable compensation in accordance with internationally recognized rules and principles. 43.4 Adjustments or modifications of the Contact may be decided upon by mutual consent. In this case, the terms and conditions at the Contract may be modified only in writing.