Concession Contracts Sample Clauses

A Concession Contracts clause defines the terms under which one party (the grantor) allows another party (the concessionaire) to operate, manage, or exploit a specific asset, service, or resource, typically for a set period and under agreed conditions. This clause outlines the scope of rights granted, performance obligations, payment structures such as fees or royalties, and the duration of the concession. For example, it may apply to the operation of public infrastructure like toll roads, airports, or utilities by private entities. The core function of this clause is to clearly allocate operational responsibilities and financial arrangements, ensuring both parties understand their rights and obligations while facilitating private sector involvement in public projects.
Concession Contracts. The expiration, termination or material breach of any of the Concession Agreements of the Corporation or the Subsidiaries which would have a Material Adverse Effect or the seizure, nationalization or forfeiture of any assets of the Corporation or the Subsidiaries; or
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Concession Contracts. 31 11.11 Indentures..............................................31 11.12
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Concession Contracts. For the benefit of and subject to the approval by the Owner, the Manager shall make arrangements for the concessionaires, licensees, tenants or other intended users of the facilities of the Property.
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Concession Contracts. Concession contracts, sometimes called licenses or tax/royalty systems, are the oldest form of petroleum contracts. The concession contract which originated at the very beginning of the petroleum industry in the mid-1800s, was the first system of petroleum development arrangement adopted to regulate the petroleum industry and is still the most widely practised contract system throughout the world. Concessions contract first developed in the United States of America (the USA) in the 1800s, especially in 18591, then IOCs exported the idea of the contract to oil producing countries. The basic principle of concession contracts is derived from the concept of ‘land ownership’ based on the American system of land ownership. In the country, a landowner has absolute legal right over his land, beneath (sub-surface) and the sky above the surface of it. Therefore, this would include petroleum below the land that can be granted to a company. Accordingly, this contracts seen more or less as granting a land ownership to a private company over a period of time for a fee.2 This type of contract has evolved significantly since its introduction and is used in many countries, for example, 1 S Saidu and ▇ ▇ ▇▇▇▇▇, ‘Production Sharing or Joint Venturing: What Is the Optimum Petroleum Contractual Arrangement for the Exploitation of Nigeria Oil and Gas?’ (2014) 2 (2) Journal of Business and Management Sciences 35-44. DOI: 10.12691/jbms-2-2-2 .
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Concession Contracts. The Concession Contracts from which Future Production will be extracted under the Pledge are identified below without prejudice of any other contract as provided in Section 3.05.
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Concession Contracts. Future Productions under the Pledge include all those Future Productions produced under Concession Contracts that are listed in Annex 4 of the Contract, and all future concession agreements, licenses or permits and other agreements entered into by the Pledgor with the applicable Colombian regulatory authorities arising from the concession contracts and mining applications listed in Annex 4, which grant to the Pledgor or any of the Pledgor Affiliates’, successors’ or assigns’, rights to explore and exploit the Minerals.‌ At the time the Pledgor holds any concession agreement on the terms of the preceding paragraph it shall comply as specified in Clause 0above, in respect with such concession contract, without prejudice that the Secured Creditor exercises the option to forward such records, as provided in paragraph of Section 0 CHAPTER IV INDIVISIBILITY OF PLEDGE‌ This Pledge is indivisible, which is why the Concession Contracts, will be affected by this Pledge as defined in Article 2430 of the Civil Code and therefore the Future Productions on which rests the Pledge, are subject to the compliance of all of the Secured Obligation. Consequently, if the Secured Creditor enforces payment of the Secured Obligation, the property and assets subject to this Pledge will be used exclusively and privileged to pay all claims of Secured Creditor.
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Concession Contracts. Any Borrower publicly announces that it is abandoning or intends to abandon the activities which it carries out pursuant to a Concession Contract or the decision of a Borrower to abandon such activities becomes public or a Borrower fails or is unable to comply with any of the terms of a Concession Contract or any other contract which is material to such Borrower's ability to carry on its business or revocation, cancellation or surrender of a Concession Contract occurs.
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Concession Contracts. (A) The Company's and each of its subsidiaries' concession contracts with ▇▇▇▇▇ or any other governmental entity with power to represent the Brazilian federal government are in full force and effect, and have not been amended since the date of this Agreement, and (B) neither the Company nor any of its subsidiaries has received any notice of the termination of any of such contracts, or, except as disclosed in the Registration Statement and the Prospectus, of any adverse changes to tariff rates in effect as of the date of this Agreement, set by ▇▇▇▇▇, or by any other governmental entity with powers to set tariff rates, pursuant to the terms of such contracts; except, in the case of each of either (A) and (B), which would singly or in the aggregate, result in a Material Adverse Effect.
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Concession Contracts. 3.12.1 Concession Contracts are contracts for the supply, for the pecuniary interest, of works or services to the Authority where: a) At least part of the consideration for the supply is a right for the supplier to exploit the works or services, and b) under the contract the supplier is exposed to real operating risk. 3.12.2 An “operating risk” is a risk that the supplier will not be able to recover its costs in connection with the supply and operation or the works or services, where the factors giving rise to that risk: a) are reasonably foreseeable at the time of award, and b) arise from matters outside of the control of the Authority and the supplier. 3.12.3 Where the Authority seeks to procure services that are defined as Concession services under Legislation, a higher Threshold limit applies (see 3.1). 3.12.4 Concession Contracts that have a value below the Concession contract Threshold may be procured as a Regulated Below-Threshold Procurement contract. Where the value exceeds the Concession contract Threshold, the Above Threshold process should be followed.
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Related to Concession Contracts

  • Construction Contracts Item A: Enter the total dollar amount of all contacts awarded on the project/ program. Item B: Enter the total dollar amount of contracts connected with this project/program that were awarded to Section 3 businesses.

  • Leases (a) Grantor will not (i) execute an assignment of the rents or any part thereof from the Premises without Beneficiary's prior consent, (ii) except where the lessee is in default thereunder, terminate or consent to the cancellation or surrender of any lease of the Premises or of any part thereof, now existing or hereafter to be made, having an unexpired term of one (1) year or more, provided, however, that any lease may be cancelled if promptly after the cancellation or surrender thereof a new lease is entered into with a new lessee having a credit standing at least equivalent to that of the lessee whose lease was cancelled, on substantially the same terms as the terminated or cancelled lease, (iii) modify any such lease so as to shorten the unexpired term thereof or so as to decrease, waive or compromise in any manner the amount of the rents payable thereunder or materially expand the obligations of the lessor thereunder, (iv) accept prepayments of more than one month of any installments of rents to become due under such leases, except prepayments in the nature of security for the performance of the lessees thereunder, (v) modify, release or terminate any guaranties of any such lease or (vi) in any other manner impair the value of the Mortgaged Property or the security hereof. (b) Grantor will not execute any lease of all or a substantial portion of the Premises except for actual occupancy by the lessee thereunder or its property manager, and will at all times promptly and faithfully perform, or cause to be performed, all of the covenants, conditions and agreements contained in all leases of the Premises or portions thereof now or hereafter existing, on the part of the lessor thereunder to be kept and performed and will at all times do all things reasonably necessary to compel performance by the lessee under each lease of all obligations, covenants and agreements by such lessee to be performed thereunder. If any of such leases provide for the giving by the lessee of certificates with respect to the status of such leases, Grantor shall exercise its right to request such certificates within five (5) days of any demand therefor by Beneficiary and shall deliver copies thereof to Beneficiary promptly upon receipt. (c) In the event of the enforcement by Trustee or Beneficiary of the remedies provided for hereby or by law, the lessee under each of the leases of the Premise will, upon request of any person succeeding to the interest of Grantor as a result of such enforcement, automatically become the lessee of said successor in interest, without change in the terms or other provisions of such lease, provided, however, that said successor in interest shall not be bound by (i) any payment of rent or additional rent for more than one (1) month in advance, except prepayments in the nature of security for the performance by said lessee of its obligations under said lease or (ii) any amendment or modification of the lease made without the consent of Beneficiary or such successor in interest. Each lease shall also provide that, upon request by said successor in interest, such lessee shall execute and deliver an instrument or instruments confirming such attornment.

  • Gas Contracts No Credit Party, as of the date hereof or as disclosed to the Administrative Agent in writing, (a) is obligated in any material respect by virtue of any prepayment made under any contract containing a “take-or-pay” or “prepayment” provision or under any similar agreement to deliver Hydrocarbons produced from or allocated to any of the Borrower’s and its Subsidiaries’ Oil and Gas Properties at some future date without receiving full payment therefor at the time of delivery or (b) except as has been disclosed to the Administrative Agent, has produced gas, in any material amount, subject to balancing rights of third parties or subject to balancing duties under Legal Requirements.

  • Operating Leases Incur any obligation to pay rent under an operating lease in any Fiscal Year if to do so would result in the aggregate obligation of Borrower and its Subsidiaries to pay rent under all operating leases in that Fiscal Year to exceed $4,000,000.

  • Tenant Leases Schedule 9.1(v) sets forth a true, correct and complete rent roll with respect to the Tenant Leases. True, correct and complete copies of all Tenant Leases have been provided to Buyer through the Data Room prior to the Effective Date, no Tenant Lease has been amended except as evidenced by amendments similarly provided and each Tenant Lease constitutes the entire agreement between the applicable Seller and the applicable Tenant. Except as set forth on Schedule 9.1(v): (i) to the knowledge of Sellers, each of the Tenant Leases is in full force and effect on the terms set forth therein; (ii) to the knowledge of Sellers, there are no defaults or circumstances which, with the giving of notice, the passage of time or both, would constitute a default by either party under any Tenant Lease; (iii) no Tenant has asserted in writing and, to the knowledge of Sellers, no Tenant has any defense to, offsets or claims against, rent payable by it or the performance of its other obligations under its Tenant Lease; (iv) no Tenant has prepaid any rent or other charges; (v) no Seller has any present or future obligation to provide any Tenant with an allowance to construct, or to construct at its own expense, any tenant improvements except as specifically set forth in each Tenant Lease or in any approved budgets; (vi) no Seller has any present or future obligation to pay any lease commissions with respect to any Tenant Lease and all such lease commissions have been paid in full; (vii) no Tenant has requested in writing a modification of its Tenant Lease, or a release of its obligations under its Tenant Lease or has given any written notice terminating its Tenant Lease, and no Tenant has been released of its obligations under its Tenant Lease; and (viii) no guarantor has been released or discharged, voluntarily or involuntarily, or by operation of law, from any obligation under or in connection with any Tenant Lease.