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Tensions bubble up at Woodside's Senegal oil project, page-299

  1. Kimbo24
    357 Posts.
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    09/07/19
    13:11
    Post #: 39437582
    14.1 A Party (the "Transferring Party") may assign or transfer all or part of its Percentage of Participation, to any person (including one of the Parties) whose reputation is well established, (the "Assignee") subject to the following provisions: ". following: ". 14.1.1 Any transfer or transfer of a participation in the Contract can not be made that in accordance with the terms and conditions of Article 29 of the Agreement 14.1.2 A Party wishing to assign or transfer its Percentage of Participation shall notify such other Parties by indicating to them the terms and conditions of the offer in good faith made by an Assignee. 14.1.3 The other Parties shall have a right of pre-emption which may be exercised only on all the rights offered and in the terms and conditions established by the offer of good faith of the potential buyer. The decision to use it must be communicated to the Party Transferor within thirty (30) days of notification. If more than one, among the other Parties, decide to exercise their right of pre-emption, the offered for sale in proportion to their Percentage of Participation on the date of the offer of sale, or according to any other distribution agreed between the purchasing parties. 14.1.4 If, within the thirty (30) day period referred to above, the other Parties fail to notify the Party, either their desire to exercise their right of pre-emption, or their refusal to give their consent to the proposed assignment or transfer, the assignment or transfer will be deemed to have been accepted. 14.1.5 A Party refusing to consent to the assignment or transfer shall provide duly reasoned and reasonable justifications within thirty (30) days to from the notification, or it will be obliged to acquire the Percentage of Participation to be assigned or transferred on terms identical to those proposed in the Offeror's offer and accepted within thirty (30) days to from the notification,
    Whiskey,
    from the JOA for digestive purposes.

    Kimbo29
    FAR Price at posting: 6.9¢ Sentiment: Sell Disclosure: Not Held
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