A CLEAR DESCRIPTION OF THE METHODOLOGY USED IN THE RESPECTIVE CALCULATIONS);
(III)
AN UPDATED CERTIFICATION OF THE RESERVES IN
THE CORVINA FIELD, AND, IF APPLICABLE, ANY OTHER FIELD RESERVES IN BLOCK Z-1,
PREPARED IN ACCORDANCE WITH SEC REGULATIONS BY THE INDEPENDENT ENGINEER;
(IV)
A CAPITAL AND OPERATING BUDGET FOR THE NEXT
FINANCIAL YEAR; AND
(V)
A CONSOLIDATING STATEMENT BY THE BORROWER OF
ALL TRANSACTIONS BETWEEN THE BORROWER AND EACH OF ITS AFFILIATES, IF ANY, DURING
THAT FINANCIAL YEAR, AND A CERTIFICATION BY THE BORROWER'S CHIEF FINANCIAL
OFFICER THAT THOSE TRANSACTIONS WERE ON THE BASIS OF ARM'S-LENGTH ARRANGEMENTS;
(C)
ANNUAL MONITORING REPORT.
WITHIN SIXTY (60) DAYS AFTER THE END OF
EACH FINANCIAL YEAR, DELIVER TO IFC THE CORRESPONDING ANNUAL MONITORING REPORT
IN A FORM CONSISTENT WITH THE REQUIREMENTS OF THIS AGREEMENT CONFIRMING
COMPLIANCE WITH THE ACTION PLAN, THE SOCIAL AND ENVIRONMENTAL COVENANTS SET
FORTH IN SECTIONS 5.01 AND 5.02 AND APPLICABLE S&E LAW, OR, AS THE CASE MAY BE,
IDENTIFYING ANY NON-COMPLIANCE OR FAILURE, AND THE ACTIONS BEING TAKEN TO REMEDY
IT; PROVIDED THAT THE BORROWER MAY SUPPLEMENT ANY ANNUAL MONITORING REPORT WITH
SUCH INFORMATION AS MAY BE USEFUL TO ENHANCE ITS CLARITY AND/OR TO BETTER
ILLUSTRATE THE BORROWER'S PERFORMANCE OVER TIME (E.G., CHARTS, GRAPHS);
(D)
NOTICE OF ACCIDENTS, ETC.
WITHIN FIVE (5) BUSINESS DAYS AFTER ITS
OCCURRENCE, NOTIFY IFC OF ANY SOCIAL, LABOR, HEALTH AND SAFETY, SECURITY OR
ENVIRONMENTAL INCIDENT, ACCIDENT OR CIRCUMSTANCE HAVING, OR WHICH COULD
REASONABLY BE EXPECTED TO HAVE, A MATERIAL ADVERSE EFFECT OR MATERIAL ADVERSE
IMPACT ON THE IMPLEMENTATION OR OPERATION OF THE PROJECT IN ACCORDANCE WITH THE
PERFORMANCE STANDARDS, SPECIFYING IN EACH CASE THE NATURE OF THE INCIDENT,
ACCIDENT, OR CIRCUMSTANCE AND ANY EFFECT RESULTING OR LIKELY TO RESULT
THEREFROM, AND THE MEASURES THE BORROWER IS TAKING OR PLANS TO TAKE TO ADDRESS
THEM AND TO PREVENT ANY FUTURE SIMILAR EVENT; AND KEEP IFC INFORMED OF THE
ON-GOING IMPLEMENTATION OF THOSE MEASURES AND PLANS;
(E)
SHAREHOLDER MATTERS.
GIVE NOTICE TO IFC, CONCURRENTLY WITH THE
BORROWER'S NOTIFICATION TO ITS STOCKHOLDERS, OF ANY MEETING OF ITS STOCKHOLDERS,
SUCH NOTICE TO INCLUDE THE AGENDA OF THE MEETING; AND, AS SOON AS AVAILABLE,
DELIVER TO IFC COPIES OF ALL NOTICES, REPORTS AND OTHER COMMUNICATIONS OF THE
BORROWER TO ITS STOCKHOLDERS, WHETHER ANY SUCH COMMUNICATION HAS BEEN MADE ON AN
INDIVIDUAL BASIS OR BY WAY OF PUBLICATION IN A NEWSPAPER OR OTHER COMMUNICATION
MEDIUM;
(F)
CHANGES TO PROJECT; MATERIAL ADVERSE EFFECT.
PROMPTLY NOTIFY IFC
OF ANY PROPOSED CHANGE IN THE NATURE OR SCOPE OF THE PROJECT OR THE BUSINESS OR
OPERATIONS OF THE
39
BORROWER AND OF ANY EVENT OR CONDITION THAT HAS OR MAY REASONABLY BE EXPECTED TO
HAVE A MATERIAL ADVERSE EFFECT;
(G)
LITIGATION, ETC.
PROMPTLY UPON BECOMING AWARE OF ANY LITIGATION,
ARBITRATION OR ADMINISTRATIVE PROCEEDINGS BEFORE ANY AUTHORITY OR ARBITRAL BODY
WHICH HAS OR MAY REASONABLY BE EXPECTED TO HAVE A MATERIAL ADVERSE EFFECT,
NOTIFY IFC BY FACSIMILE OF THAT EVENT SPECIFYING THE NATURE OF THAT LITIGATION
OR THOSE PROCEEDINGS AND THE STEPS THE BORROWER IS