Common use of Specific Exceptions Clause in Contracts

Specific Exceptions. 1. Articles 73 and 75 shall not apply to investors and investments, in respect of: (a) any exception specified by the Parties in Annexes VA and VB; and (b) an amendment or modification to any exception referred to in sub-paragraph (a) above, provided that the amendment or modification does not decrease the level of conformity of the exception with Articles 73 and 75. 2. The exceptions referred to in sub-paragraph (a) of paragraph 1 above shall include the following elements, to the extent that these elements are applicable: (a) sector or matter; (b) obligation or article in respect of which the exception is taken; (c) legal source or authority of the exception; and (d) succinct description of the exception. 3. If a Party makes an amendment or modification referred to in sub-paragraph (b) of paragraph 1 of this Article, that Party shall, prior to the implementation of the amendment or modification, or in exceptional circumstances, as soon as possible thereafter: (a) notify the other Party of the elements set out in paragraph 2 above; and (b) provide to the other Party, upon request, particulars of the amended or modified exception. 4. Each Party shall endeavour, where appropriate, to reduce or eliminate the exceptions specified in Annexes VA and VB respectively.

Specific Exceptions. 1. Articles 73 and 75 shall not apply to investors and investments, in respect of: (a) any exception specified by the Parties in Annexes VA and VB; and (b) an amendment or modification to any exception referred to in sub-paragraph (a) above, provided that the amendment or modification does not decrease the level of conformity of the exception with Articles 73 and 7575 . 2. The exceptions referred to in sub-paragraph (a) of paragraph 1 above shall include the following elements, to the extent that these elements are applicable: (a) sector or matter; (b) obligation or article in respect of which the exception is taken; (c) legal source or authority of the exception; and (d) succinct description of the exception. 3. If a Party makes an amendment or modification referred to in sub-paragraph (b) of paragraph 1 of this Article, that Party shall, prior to the implementation of the amendment or modification, or in exceptional circumstances, as soon as possible thereafter: (a) notify the other Party of the elements set out in paragraph 2 above; and (b) provide to the other Party, upon request, particulars of the amended or modified exception. 4. Each Party shall endeavour, where appropriate, to reduce or eliminate the exceptions specified in Annexes VA and VB respectively.