Document:

Exhibit 10.14 

  

  

  CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE
    COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.

  

   

  

  	MEMORANDUM OF AGREEMENT	
          SALEFORM 2012

           

        
	 	
          Norwegian Shipbrokers’ Association’s

          Memorandum of Agreement for sale and purchase of ships

        

   

  1       Dated:       3 March 2020

   

  2       Golar Hull M2026 Corp. (Name of sellers) (a company incorporated under the laws of
          The Republic of The Marshall Islands with registration number 46890 [ ]), hereinafter called the “Sellers”, have agreed to
    sell, and

   

  3       NOBLE CELSIUS SHIPPING LIMITED (Name of buyers) (a company
          incorporated under the laws of [ ]the Republic of Marshall Islands with [registration/company] number [ ]103707, hereinafter called the “Buyers”, have agreed to buy:

   

  4       Name of vessel: m.v. “Golar Celsius”

   

  5       IMO Number: 9626027

   

  6       Classification Society: DNV GL

   

   7       Class Notation: * 1A1 Tanker for liquefied gas BIS Clean COAT-PSPC(B) COMF(C-3M, V-2) CSA(2) E0 Gas fuelled
      NAUT(OC) NAUTICUS(Newbuilding) Recyclable TMON

   

  8       Year of Build: 2013 Builder/Yard: Samsung Heavy Industries Co., Ltd.

   

   9       Flag: The Republic of The Marshall Islands         Place of Registration: Majuro GT/NT: 102100 tons / 30631 tons

   

  10     hereinafter called the “Vessel”, on the following terms and conditions:

   

  11     Definitions (See also Clause 25 (Further definitions)

   

  12     “Banking Days” are days (other than a Saturday or Sunday) on which banks are open both in the country of the currency stipulated
    for

  13     the Purchase Price in Clause 1 (Purchase Price) and in the place of closing stipulated in Clause 8

  14     (DocumentationConditions precedent)) and Hong Kong, London, New York,
      Oslo and Shanghai (add additional jurisdictions as appropriate).

   

  15     “Buyers’ Nominated Flag State” means The Republic of The Marshall Islands (state flag state).

   

  16     “Class” means the class notation referred to above.

   

  17     “Classification Society” means the Society referred to above.

   

  18     “Deposit” shall have the meaning given in Clause 2 (Deposit)

   

  19     “Deposit Holder” means          (state name and location of Deposit Holder) or, if left
        blank, the

  20     Seller’s Bank, which shall hold and release the Deposit in accordance with this Agreement.

   

  21     “In writing” or “written” means a letter handed over from the Sellers to the Buyers or vice versa, a

  22     registered letter, e-mail or telefax.

   

   

  
     

    
      
 

  

   

  23       “Parties” means the Sellers and the Buyers and “Party” means either one (1) of them.

   

  24       “Purchase Price” means the price for the Vessel as stated in Clause 1 (Purchase Price).

   

  25       “Sellers’ Account” means such account in the name of the Sellers (state details of bank account) at the Sellers’
    Bank notified by the Sellers to the Buyers in writing at least five (5) Banking Days prior to the Delivery Date (as defined in Additional Clause 25 (Further definitions)).

   

  26       “Sellers’ Bank” means such bank as may be (state-name-of-bank, branch and details) or, if left blank, the-bank

  27       notified by the Sellers to the Buyers for receipt of the balance of the Purchase Price or

          any part thereof.

   

  28       1. Purchase Price

   

  29       The Purchase Price is [***] US Dollars (US$[***]) (state currency and amount both in words and figures).

   

  30  2. Deposit

   

  31       As security for the correct fulfilment of this Agreement the Buyers shall lodge a deposit of

  32               % (      per cent) or, if left blank, 10% (ten per cent), of the Purchase Price
        (the

  33       “Deposit”) in an interest bearing account for the Parties with the Deposit Holder within three (3)

  34       Banking Days after the date that:

   

  35       (i) this Agreement has been signed by the Parties and exchanged in original or by

  36       c mail or telefax; and

   

  37       (ii) the Deposit Holder has confirmed in writing to the Parties that the account has been

  38       opened.

   

  39       The Deposit shall be released in accordance with joint written instructions of the Parties.

  40       Interest, if any, shall be credited to the Buyers. Any fee charged for holding and releasing the

  41       Deposit shall be borne equally by the Parties. The Parties shall provide to the Deposit Holder

  42       all necessary documentation to open and maintain the account without delay.

   

  43  3. Payment

   

  44       On delivery of the Vessel, but not later than three (3) Banking Days after the date that Notice of

  45       Readiness has been given in accordance with Clause 5 (Time and place of delivery and

  46       notices):

   

  47       (i) the Deposit shall be released to the Sellers; and

   

  48       (ii) the balance of the Purchase Price and all other sums payable on delivery by the Buyers

  49       to the Sellers under this Agreement shall be paid in full free of bank charges to the

  50       Sellers’ Account.

   

  

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  51  4. Inspection 

   

  52       (a)* The Buyers have inspected and accepted the Vessel’s classification records. The-Buyers

  53       have also inspected the Vessel at/in        (state place) on        (state date) and have

  54       accepted the Vessel following this inspection and the sale is outright and definite, subject only

  55       to the terms and conditions of this Agreement.

   

  56       (b)* The Buyers shall have the right to inspect the Vessel’s classification records and declare

  57       whether same are accepted or not within            (state date/period).

   

  58       The Seller shall make the Vessel available for inspection at/in          state
        place/range) within 

  59       (state date/period).

    

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  60       The Buyers shall undertake the inspection -without undue delay to the Vessel. Should the

  61       Buyers cause undue delay they shall compensate the Sellers for the losses thereby incurred.

   

  62       The Buyers shall inspect the Vessel without opening up and without cost to the Sellers.

   

  63       During the inspection, the Vessel’s deck and engine log books shall be made available for

  64       examination by the Buyers.

   

  65       The sale shall become outright and definite, subject only to the terms and conditions of this

  66       Agreement, provided that the Sellers receive written notice of acceptance of the Vessel from

  67       the Buyers within seventy-two (72) hours after completion of such inspection or after the

  68       date/last day of the period stated in Line 59, whichever is earlier.

   

  69       Should the Buyers fail to undertake the inspection as scheduled and/or notice of acceptance of

  70       the Vessel’s classification records and/or of the Vessel not be received by the Sellers as

  71       aforesaid, the Deposit together with interest earned, if any, shall be released immediately to the

  72       Buyers, whereafter this Agreement shall be null and void.

   

  73       *4(a) and 4(b) are alternatives; delete whichever is not applicable. In the absence of deletions,

  74       alternative 4(a) shall apply.

   

  75  5. Time and place of delivery and notices

   

  76       (a) The Vessel shall be delivered and taken over safely afloat at a safe and accessible berth or

  		77	 anchorage at/in or at sea within Trading Limits (as defined in Additional Clause 25 (Further definitions)) (state place/range)
          in the Sellers’ option.

   

  78       Notice of Readiness shall not be tendered before:        (date)

   

  		79	Cancelling Date (see Clauses 5(c), 6 (a)(i), 6 (a) (iii) and 14): the Cancelling Date (as defined in Additional Clause 25 (Further definitions)), or such later date as the Buyers and
            the Sellers may agree.

   

  80       (b) The Sellers shall keep the Buyers well informed of the Vessel’s itinerary and shall

  81       provide the Buyers with twenty (20), ten (10), five (5) and three (3) days’ notice of the date

        the

  82       Sellers intend to tender Notice of Readiness and of the intended date and place

    of delivery.

   

  83       When the Vessel is at the place of delivery and physically ready for delivery in accordance with

  84       this Agreement, the Sellers shall give the Buyers a written Notice of Readiness for delivery.

   

  85       (c) If the Sellers anticipate that, notwithstanding the exercise of due diligence by them, the

  86       Vessel will not be ready for delivery by the Cancelling Date they may notify the Buyers in writing

  87       stating the date when they anticipate that the Vessel will be ready for delivery and proposing a

  88       new Cancelling Date. Upon receipt of such notification the Buyers shall have the option of

  89       either cancelling this Agreement in accordance with Clause 14 (Sellers’ Defaultdefault)
    within three (3)

  90       Banking Days of receipt of the notice or of accepting the new date as the new Cancelling Date.

   

  

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  91       If the Buyers have not declared their option within three (3) Banking Days of receipt of the

  92       Sellers’ notification or if the Buyers accept the new date, the date proposed in the Sellers’

  93       notification shall be deemed to be the new Cancelling Date and shall be substituted for the

  94       Cancelling Date stipulated in line 79.

   

  95       If this Agreement is maintained with the new Cancelling Date all other terms and conditions

  

   

  96       hereof including those contained in Clauses 5(b) and 5(d) shall remain unaltered and in full

  97       force and effect.

   

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  98        (d) Cancellation, failure to cancel or acceptance of the new Cancelling Date shall be entirely

  99        without prejudice to any claim for damages the Buyers may have under Clause 14 (Sellers’

  100       Defaultdefault) for the Vessel not being ready by the original Cancelling
    Date.

   

  101       (e) Should the Vessel become an actual, constructive or compromised total loss before delivery

  102       the Deposit together with interest earned, if any, shall be released immediately to the Buyers

  103       whereafter this Agreement shall be null and void.

   

  104  6. Divers-Inspection / Drydocking

   

  105       (a)* 

  106       (i) The Buyers shall have the option at their cost and expense to arrange for an underwater

  107       inspection by a diver approved by the Classification Society prior to the delivery of the 

  108       Vessel. Such option shall be declared latest nine (9) days prior to the Vessel’s intended

  109       date of readiness for delivery as notified by the Sellers pursuant to Clause 5(b) of this

  110        Agreement. The Sellers shall at their cost and expense make the Vessel available for

  111       such inspection. This inspection shall be carried out without undue delay and in the

  112       presence of a Classification Society surveyor arranged for by the Sellers and paid for by

  113       the Buyers. The Buyers’ representative(s) shall have the right to be present at the diver’s 

  114        inspection as observer(s) only without interfering with the work or decisions of the

  115       Classification Society surveyor. The extent of the inspection and the conditions under

  116       which it is performed shall be to the satisfaction of the Classification Society. If the

  117       conditions at the place of delivery are unsuitable for such inspection, the Sellers shall at

  118       their cost and expense make the Vessel available at a suitable alternative place near to

  119       the delivery port, in which event the Cancelling Date shall be extended by the additional

  120       time required for such positioning and the subsequent re-positioning. The Sellers may

  121       not tender Notice of Readiness prior to completion of the underwater inspection.

   

  122       (ii) if the rudder, propeller, bottom or other underwater parts below the deepest load line are

  123       found broken, damaged or defective so as to affect the Vessel’s class, then (1) unless

  124        repairs can be carried out afloat to the satisfaction of the Classification Society, the

  125       Sellers shall arrange for the Vessel to be drydocked at their expense for inspection by

  126       the Classification Society of the Vessel’s underwater parts below the deepest load line,

  127       the extent of the inspection being in accordance with the Classification Society’s rules (2)

  128       such defects shall be made good by the Sellers at their cost and expense to the

  129       satisfaction of the Classification Society without condition/recommendation** and (3) the 

  130       Sellers shall pay for the underwater inspection and the Classification Society’s 

  131       attendance. 

   

  132       Notwithstanding anything to the contrary in this Agreement, if the Classification Society

  133       do not require the aforementioned defects to be rectified before the next class 

  134       drydocking survey, the Sellers shall be entitled to deliver the Vessel with these defects 

  135       against a deduction from the Purchase Price of the estimate direct cost (of labour and

  136       materials) of carrying out the repairs to the satisfaction of the Classification Society,

  137       whereafter the Buyers shall have no further rights whatsoever in respect of the defects

  138       and/or repairs. The estimated direct cost of the repairs shall be the average of quotes

  139       for the repair work obtained from two reputable independent shipyards at or in the

  140       vicinity of the port of delivery, one to be obtained by each of the Parties within two (2)

  141       Banking Days from the date of the imposition of the condition/recommendation, unless

  142       the Parties agree otherwise. Should either of the Parties fail to obtain such a quote within

  

  143       the stipulated time then the quote duly obtained by the other Party shall be the sole basis

  144       for the estimate of the direct repair costs. The Sellers may not tender Notice of

  115       Readiness prior to such estimate having been established.

   

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  146       (iii) If the Vessel is to be drydocked pursuant to Clause 6(a)(ii) and no suitable dry docking 

  147       facilities are available at the port of delivery, the Sellers shall take the Vessel to a port

  148       where suitable drydocking facilities are available, whether within or outside the delivery

  149       range as per Clause 5(a). Once drydocking has taken place the Sellers shall deliver the 

  150       Vessel at a port within the delivery range as per Clause 5(a) which shall, for the purpose

  151       of this Clause, become the new port of delivery. In such event the Cancelling Date shall

  152       be extended by the additional time required for the drydocking and extra steaming, but

  153       limited to a maximum of fourteen (14) days.

   

  154       (b)* The Sellers shall place the Vessel in drydock at the port of delivery for inspection by the

  155       Classification Society of the Vessel’s underwater parts below the deepest load line, the extent 

  156       of the inspection being in accordance with the Classification Society’s rules. If the rudder, 

  157       propeller, bottom or other underwater parts below the deepest load line are found broken, 

  158       damaged or defective so as to affect the Vessel’s class, such defects shall be made good at the

  159       Sellers’ cost and expense to the satisfaction of the Classification Society without

  160       condition/recommendation**. In such event the Seller are also to pay for the costs and 

  161       expenses in connection with putting the Vessel in and taking her out of drydock, including the

  162       drydock dues and the Classification Society’s fees. The Sellers shall also pay for these costs

  163       and expenses if parts of the tailshaft system are condemned or found defective or broken so as

  164       to affect the Vessel’s class. In all other cases, the Buyers shall pay the aforesaid costs and

  166        expenses, dues and fees.

   

  166       (c) If the Vessel is drydocked pursuant to Clause 6 (a)(ii) or 6 (b) above:

   

  167       (i) The Classification Society may require survey of the tailshaft system, the extent of the

  168       survey being to the satisfaction of the Classification surveyor. If such survey is

  169       not required by the Classification Society, the Buyers shall have the option to require the

  170       tailshaft to be drawn and surveyed by the Classification Society, the extent of the survey

  171       being in accordance with the Classification Society’s rules for tailshaft survey and 

  172       consistent with the current stage of the Vessel’s survey cycle. The Buyers shall declare

  173       whether they require the tailshaft to be drawn and surveyed not later than by the 

  174       completion of the inspection by the Classification Society. The drawing and refitting of

  175       the tailshaft shall be arranged by the Sellers. Should any parts of the tailshaft system be

  176       condemned or found defective so as to affect the Vessel’s class, those parts shall be

  177       renewed or made good at the Sellers’ cost and expense to the satisfaction of

  178       Classification Society without condition/recommendation**. 

   

  179       (ii) The costs and expenses relating to the survey of the tailshaft system shall be borne by

  180       the Buyers unless the Classification Society requires such survey to be carried out or if

  181       parts of the system arc condemned or found defective or broken so as to affect the

  182       Vessel’s class, in which case the Sellers shall pay these costs and expenses.

   

  183       (iii) The Buyers’ representative(s) shall have the right to be present in the drydock, as

  184       observer(s) only without interfering with the work or decisions of the Classification 

  185       Society surveyor. 

   

  186       (iv) The Buyers shall have the right to have the underwater parts of the Vessel cleaned 

  187       and painted at their risk, cost and expense without interfering with the Sellers’ or the 

  188       Classification Society surveyor’s work, if any, and without affecting the Vessel’s timely 

  189        delivery. If, however, the Buyer’s work in drydock is still in progress when the 

  190       Sellers have completed the work which the Sellers are required to do, the additional

  191       docking time needed to complete the Buyers’ work shall be for the Buyers’ risk, cost and

  192       expense. In the event that the Buyers’ work requires such additional time, the Sellers

  193       may upon completion of the Sellers’ work tender Notice of Readiness for delivery whilst

  194       the Vessel is still in drydock and, notwithstanding Clause 5(a), the Buyers shall be

  195       obliged to take delivery in accordance with Clause 3 (Payment), whether the Vessel is in 

  196       drydock or not.

   

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  197       *6(a) and 6(b) are alternatives; delete whichever is not-applicable. In the absence of deletions,

  198       alternative 6(a) shall apply:

   

  199       **Notes or memoranda, if any, in the surveyor’s report which are accepted by the Classification

  200       Society without condition/recommendation are not to be taken into account.

   

  201   7.  Spares, bunkers and other items

   

  202       The Sellers shall deliver the Vessel to the Buyers with everything belonging to her on board

  203       and on shore. All spare parts and spare equipment including spare tail-end shaft(s) and/or

  204       spare propeller(s)/propeller blade(s), if any, belonging to the Vessel at the time of inspectiondelivery

  205       used or unused, whether on board or not shall become the Buyers’ property without extra payment, but spares on

  206       order are excluded. Forwarding charges, if any, shall be for the Buyers’ account. The Sellers

  207       are not required to replace spare parts including spare tail-end shaft(s) and spare

  208       propeller(s)/propeller blade(s) which are taken out of spare and used as replacement prior to

  209       delivery, but the replaced items shall be the property of the Buyers without extra payment. Unused stores and

  210       provisions shall be included in the sale and be taken over by the Buyers without extra payment.

   

  211       Library and forms exclusively for use in the Sellers’ vessel(s) and captain’s, officers’ and crew’s

  212       personal belongings including the slop chest are excluded from the sale without compensation,

  213 as well as the following additional items:        (include list)

   

  214       Items on board which are on hire or owned by third parties, listed as follows, are excluded from

  215       the sale without compensation (include list)

   

  216       Items on board at the time of inspection which are on hire or owned by third parties, not listed

  217        above, shall be replaced or procured by the Sellers prior to delivery at their cost and expense.

  Any remaining and unused bunkers, lubricating and hydraulic oils and greases in storage tanks 

  and unopened drums shall remain the property of the Sellers in their capacity as bareboat 

  charterers under the Bareboat Charter and therefore the Buyers shall not be required to pay for 

  such items. 

   

  218       The Buyers shall take over remaining bunkers and unused lubricating and hydraulic oils and

  219       greases in storage tanks and unopened drums and pay either:

   

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  220       (a) *the actual net price (excluding barging expenses) as evidenced by invoices or vouchers; or 

   

  221        (b) *the current net market price (excluding barging expenses) at the port and date of delivery

  222       of the Vessel or, if unavailable, at the nearest bunkering port,

   

  223       for the quantities taken over.

   

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  224       Payment under this Clause shall be made at the same time and place and in the same

  225       currency as the Purchase Price.

  226       "inspection" in this Clause 7, shall mean the Buyers' inspection according to
        Clause 4(a) or 4(b)

  227       (inspection) if applicable. If the Vessel is taken over without inspection, the
        date of this

  228       Agreement shall be the relevant date.

  229       *(a) and (b) are alternatives, delete whichever is not applicable. In the absence
        of deletions 

  230       alternative (a) shall apply.

  231  8.  DocumentationConditions

            precedent

  232       The place of closing: to be mutually agreed by the Buyers and
            Sellers

  233       (a) in exchange for payment Release of the Purchase Price is conditional upon the Sellers shall provide providing
      the Buyers with the

  234       following delivery documents and evidence:

  235       (i) Two (2) original Legal Bill(s) of Sale in a form
      recordable in the Buyers’ Nominated Flag State,

  236       transferring title of the Vessel and stating that the Vessel is free from all mortgages,

  237       encumbrances and maritime liens or any other debts whatsoever, duly notarially attested

  238       and legalised or apostilled, as required by the Buyers’ Nominated Flag State;

  239       (ii) Evidence that all necessary corporate, shareholder and other action has been taken by

  240       the Sellers to authorise the execution, delivery and performance of this Agreement;

  241       (iii) If applicable, oOriginal Power of Attorney of the Sellers appointing one or more representatives to act on behalf

  242       of the Sellers in the performance of this Agreement, duly notarially attested and legalised

  243       or apostilled (as appropriate);

  244       (iv) A Certificate

          or Transcript of Registry issued by the competent authorities of the Buyer's Nominated Flag Stateflag state

  245       on the date of delivery Delivery

            Date evidencing the Sellers’ ownership of the Vessel and that the

  246       Vessel is free from registered encumbrances and mortgages, to be faxed or e-mailed by

  247       such authority to the closing meeting with the original to be sent to the Buyers as soon as

  248       possible after delivery of the Vessel;

  249       (v) A copy of Declaration of Class or (depending on the
      Classification Society) a Class Maintenance

  250       Certificate issued within three (3) Banking Days prior to delivery the Delivery Date confirming that the

  251       Vessel is in Class free of overdue
      condition/recommendation;

  252       (vi) Certificate of Deletion of the Vessel from the Vessel's Registry or other
        official evidence of

  253       deletion appropriate to the Vessel's registry at the time of delivery, or, in the
        event that 

  254       the registry does not as a matter of practice issue such documentation immediately,
        a

  255       written undertaking by the Sellers to effect deletion from the Vessel's registry
        forthwith

  2.56       and provide a certificate or other official evidence of deletion to the Buyers
        promptly and 

  257       latest within four (4) weeks after the Purchase Price has been paid and the Vessel
        has

  258       been delivered;

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  259       (vii) A copy of the Vessel's Continuous Synopsis Record certifying the date on
        which the

  260       Vessel ceased to be registered with the Vessel's registry, or, in the event that
        the registry

  261       does not as a matter of practice issue such certificate immediately, a written
        undertaking 

  262       from the Sellers to provide the copy of this certificate promptly upon it being
        issued

  263       together with evidence of submission by the Sellers of a duly executed Form 2
        stating

  264       the date on which the Vessel shall cease to be registered with the Vessel's
        registry;

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  265       (viii) An
            original Commercial Invoice for the Vessel;

  266       (ix) Commercial Invoice(s) for bunkers, lubricating and hydraulic oils and
        greases;

  267       (x) A copy of the Sellers’ letter to their satellite communication provider
        cancelling the

  268        Vessel’s communications contract which is to be sent immediately after delivery of
        the 

  269       Vessel; 

  270       (xivii)
      Any additional documents as may reasonably be required by the competent authorities of

  271       the Buyers’ Nominated Flag State for the purpose of registering the Vessel, provided the

  272       Buyers notify the Sellers of any such documents as soon as possible after the date of

  273       this Agreement; and

  274       (xiiviii)
      An original of Thethe Sellers’ letter of confirmation that to the best of their knowledge, the Vessel is not

  275       black listed by any nation or international organisation;.

  (ix) Evidence that the Existing Mortgage as defined in Additional Clause 25 (Further definitions))
        has been irrevocably and unconditionally released and discharged and all records or registration thereof have been removed from the Buyer's Nominated Flat State'sFlag State's
            (as defined in 

  Additional Clause

  25 (Further definitions)) records;

   

  (x) Evidence that the Sellers (as charterers) have paid the Handling Fee (as defined in the
        Bareboat Charter) in accordance with the terms of the Bareboat Charter; 

   

  (xi) An original certificate from a director / officer of the Sellers confirming that all copies
        of documents provided under this Agreement are true copies of such documents; 

   

  (xii) The Buyers being satisfied that, in their opinion, (A) the conditions precedent set out in
        Clause 36 (Conditions precedent) of the Bareboat Charter have been satisfied on the Delivery Date, (B) no Termination Event (as defined in the Bareboat Charter) or Potential Termination Event (as defined in the Bareboat Charter) is continuing or
        would result from the proposed prepositioning

  of the Purchase Price, and (C) the representations and warranties referred to in Clause 19 (Sellers’ representations)
        hereof and clause 48 (Charterers’ representations and warranties) of the Bareboat Charter are true and correct on the date of this Agreement and the Delivery Date. 

   

  The conditions set out in this Clause 8(a) are for the sole benefit of the Buyers and may be
        waived or deferred by the Buyers in whole or in part and with or without conditions. The foregoing is without prejudice to the Buyers’ rights to require fulfilment of any such conditions by the Sellers in whole or in part at any time after the date
        of release of the Purchase Price.

   

  276       (b) At the time of delivery the Buyers shall provide the Sellers with:

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  277       (i) Evidence that all necessary corporate, shareholder and other action has been
        taken by

  278       the Buyers to authorise the execution, delivery and performance of this
        Agreement; and

  279       (ii) Power of Attorney of the Buyers appointing one or more representatives to act
        on behalf

  280       of the Buyers in the performance of this Agreement, duly notarially attested and
        legalised 

  281       or apostilled (as appropriate).

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  282       (cb)
      If any of the documents listed in Sub-clauses (a) and (b) above are not in the English

  283       language they shall be accompanied by an English translation by an authorised translator or

  284       certified by a lawyer qualified to practice in the country of the translated language.

  285       (dc)
      The Parties shall to the extent possible exchange copies, drafts or samples of the

  286       documents listed in Sub-clause (a) and Sub clause (b) above

      for review and comment by the

  287       other party not later than        (state number of days), or if left
          blank, nine (9) days prior to the

  288       Vessel’s intended date of readiness for delivery as
      notified by the Sellers pursuant to

  289       Clause 5(b) of this Agreement.

  290       (ed)
      Concurrent with the exchange of documents in Sub-clause (a) and Sub-clause (b) above,

  291        the Sellers shall also hand to the Buyers shall gain title and ownership to the classification certificate(s) as well as all plans,

  292       drawings and manuals, (excluding ISM/ISPS manuals), which

      are on board the Vessel and shall remain on board the Vessel. Other

  293       certificates which are on board the Vessel shall also be handed over to the Buyers unless such certificates are required to remain on board, or

  294       the Sellers are required to retain same in their capacity as bareboat
            charterers, in which case the Buyers have the right to take copiesthe Sellers shall, upon the request of the Buyers, provide copies of the

  same at their expense.

   

  295       (f) Other technical documentation which may be in the Sellers' possession shall
        promptly after 

  296       delivery be forwarded to the Buyers at their expense, if they so request. The
        Sellers may keep

  297       the Vessel's log books but the Buyers have the right to take copies of same.

  298       (ge)
      Simultaneously with the release of the Purchase Price, Thethe Parties shall sign and deliver to
      each other a Protocol of Delivery and Acceptance

  299       confirming the date and time of delivery of the Vessel from the Sellers to the Buyers.

  (f) Within one (1) Banking Day after theOn the Delivery Date, the Sellers shall provide the Buyers with a copy of

  Certificate of Registry and an originala Certificate of Ownership and Encumbrances, both dated the Delivery Date and issued by the International
        Registries, Inc. of the Republic of the Marshall Islands (evidencing that the Buyers are the owners of the Vessel and (in case of the Certificate of Ownership and Encumbrances) that the Vessel is free from registered encumbrances and 

  mortgages).

  300  9. Encumbrances

  301       The Sellers warrant that the Vessel, at the time of delivery, is free from all charters (other than the Bareboat Charter and/or any other charters disclosed to, and approved by, the Buyers (as 

  owners under the Bareboat Charter)),

  302       encumbrances, mortgages and maritime liens or any other debts whatsoever, and is not subject

  303       to Port State or other administrative detentions. The Sellers hereby undertake to indemnify the

  304       Buyers against all consequences of claims made against the Vessel which have been incurred

  305       prior to the time of delivery.

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  306  10. Taxes, fees and expenses

  307       Any taxesTaxes,
      fees and expenses in connection with the purchase and registration in the Buyers'

  308       Nominated Flag State shall be for the Buyers'Sellers' account, whereasand similar charges in connection

  309       with the closing of the Sellers' register shall be for the Sellers' account.

  	AVIC/Golar LNG — MOA Additional Clauses	Page 15

          

  

  
     

    
      
 

  

   

  310  11. Condition on delivery

  See also Additional Clause 21 (Delivery under Bareboat Charter)

  311       The Vessel with everything belonging to her shall be at the Sellers' risk and expense until she is

  312       delivered to the Buyers, but subject to the terms and conditions of this Agreement she shall be

  313       delivered and taken over "as is where is" she was at the time of delivery inspection, fair wear and tear excepted.

   

  314       However, the Vessel shall be delivered free of cargo and free of stowaways with her Class

  315       maintained without overdue condition/recommendation*,
      free of average damage affecting the Vessel's

  316       class, and with her classification certificates and national certificates, as well as all other

  317       certificates the Vessel had at the time of inspectiondelivery, valid and unextended without

  318       condition/recommendation* by the Classification Society or the relevant authorities at the time

  319       of delivery.

  320       "inspection" in this Clause 11, shall mean the Buyers' inspection according to
        Clause 4(a) or

  321       4(b) (Inspections), if applicable. If the Vessel is taken over without inspection,
        the date of this

  322       Agreement shall be the relevant date.

  323       *Notes and memoranda, if any, in the surveyor's report which are accepted by the Classification

  324       Society without condition/recommendation are not to be taken into account.

  325  12. Name/markings

  326       Upon delivery the Buyers undertake to change the name of the Vessel and alter
        funnel

  327       markings.

  328  13. Buyers' default

  329       Should the Deposit not be lodged in accordance with Clause 2 (Deposit), the Sellers
        have the

  330       right to cancel this Agreement, and they shall be entitled to claim compensation
        for their losses

  331       and for all expenses incurred together with interest.

  332       Should the Purchase Price not be paid pre-positioned in accordance with Clause 322 (Payment), the Sellers

  333       have the right to, unless pre-positioning is made within five (5)
            Banking Days of the original Prepositioning Date, cancel this Agreement, in which case the Deposit together with interest

  334       earned, if any, shall be released to the Sellers. If the Deposit does
          not cover their loss,and the

  335       Sellers shall be entitled to claim further
      compensation for their losses and for all expenses

  336       incurred together with interest.

  	AVIC/Golar LNG — MOA Additional Clauses	Page 16

          

  

  
     

    
      
 

  

   

  337  14. Sellers' default

  338       Should the Sellers fail to give Notice of Readiness in accordance
          with Clause 5(b) or fail to be

  339       ready to validly complete a legal transfer by the Cancelling Date the Buyers shall have the

  340       option of cancelling this Agreement. If after Notice of Readiness has
          been given but before

  341       the Buyers have taken delivery, the Vessel ceases to be physically ready for
        delivery and is not

  342       made physically ready again by the Cancelling Date and new Notice of Readiness
        given, the

  343       Buyers shall retain their option to cancel. In the event that the Buyers elect to
        cancel this

  311       Agreement, the Deposit together with interest earned, if any, shall be released to
        them

  345       immediately.

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  346       Should the Sellers fail to give Notice of Readiness by the
          Cancelling Date or fail to be ready to

  347       validly complete a legal transfer as aforesaid they shall make due compensation to the Buyers

  348       for their loss and for all expenses together with interest if their failure is due to proven

  349       negligence and whether or not the Buyers cancel this Agreement.

   

  350  15. Buyers' representatives

   

  351       After this Agreement has been signed by the Parties and the Deposit has been
        lodged, the

  352       Buyers have the right to place two (2) representatives on board the Vessel at
        their sole risk and

  353       expense. 

   

  354       These representatives are on board for the purpose of familiarisation and in
        the capacity of

  355       observers only, and they shall not interfere in any respect with the operation
        of the Vessel. The

  356       Buyers and the Buyers’ representatives shall sign the Sellers' P&I Club’s
        standard letter of 

  357       indemnity prior to their embarkation.

   

  358  16. Law and Arbitrationarbitration

   

  359       (a) *This Agreement shall be governed by and construed in accordance with English law and

  360       any dispute arising out of or in connection with this Agreement shall be referred to arbitration in

  361       London in accordance with the Arbitration Act 1996 or any statutory modification or re-

  362       enactment thereof save to the extent necessary to give effect to the provisions of this Clause.

   

  363       The arbitration shall be conducted in accordance with the London Maritime Arbitrators

  364       Association (LMAA) Terms current at the time when the arbitration proceedings are

  365       commenced.

   

  366       The reference shall be to three arbitrators, one to be appointed by
            each Party and the third, subject 

  to the provisions of the LMAA Terms, by the two so appointed. A party wishing to refer a dispute to arbitration shall

  367       appoint its arbitrator and send notice of such appointment in writing to the other party requiring

  368       the other party to appoint its own arbitrator within fourteen (14) calendar days of that notice and

  369       stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own

  370       arbitrator and gives notice that it has done so within the fourteen (14) days specified. If the

  371       other party does not appoint its own arbitrator and give notice that it has done so within the

  372       fourteen (14) days specified, the party referring a dispute to arbitration may, without the

  373       requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator

  374       and shall advise the other party accordingly. The award of a sole arbitrator shall be binding on

  375       both Parties as if the sole arbitrator had been appointed by agreement.

   

  376       In cases where neither the claim nor any counterclaim exceeds the sum of US$100,000 the

  377       arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at

  378       the time when the arbitration proceedings are commenced. The seat
            of the arbitration shall be England, even where any hearing takes place outside England. The language of any and all arbitration proceedings shall be English. The law governing this clause 16 (Law and arbitration) shall be English law.

   

  

  	AVIC/Golar LNG — MOA Additional Clauses	Page 18

          

  

  
     

    
      
 

  

   

  379       (b) *This Agreement shall be governed by and construed in accordance with Title
        9 of the

  380       United States Code and the substantive law (not including the choice of law
        rules) of the State

  381       of New York and any dispute arising out of or in connection with this Agreement
        shall be

  382        referred to three (3) persons at New York, one to be appointed by each of the
        parties hereto,

  383       and the third by the two so chosen; their decision or that of any two of them
        shall be final, and

  384       for the purposes of enforcing any award, judgment may be entered on an award by
        any court of 

  385       competent jurisdiction. The proceedings shall be conducted in accordance with
        the rules of the

  386       Society of Maritime Arbitrators, Inc.

   

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  387       In cases where neither the claim nor any counterclaim exceeds the sum of US$
        100,000 the

  388       arbitration shall be conducted in accordance with the Shortened Arbitration
        Procedure of the 

  389       Society of Maritime Arbitrators, Inc.

   

  390       (c) This Agreement shall be governed by and construed in
          accordance with the laws of 

  391       (state place) and any dispute arising out of or in connection with this
        Agreement shall be

  392       referred to arbitration at         (state
          place), subject to the procedures applicable there.

   

  393       *16(a), 16(b) and 16(c) are alternatives; delete whichever is not applicable.
        In the absence of 

  394       deletions, alternative 16(a) shall apply.

   

  395  17. Notices

   

  396       All notices to be provided under this Agreement shall be in writing.

   

  397       Contact details for recipients of notices are as follows:

   

  398       For the Buyers: NOBLE CELSIUS SHIPPING LIMITED [ ]

   

  Address: [ ]18/F, CATIC Tower, 212 Jiang Ning Road. Shanghai, China

   

  Fax No.: [ ]+86 21 52895389

   

  Email: [ ]pengqingfeng@chinaleasing.net 

   

  Attention: [ ]Peng Qingfeng

   

  399       For the Sellers: Golar Hull M2026 Corp. 

   

  Address: [c/o Golar Power Limited, 6th Floor, The Zig Zag, 70 Victoria Street, London SW1E 65Q,
          England

   

  Fax No.: +44 (0)20 7063 7901 

   

  Email: Eduardo.Maranhao@golar.com/ Rodrigo.Fortes@golar.com 

   

  Attention: Eduardo Maranhao / Rodrigo Fortes]

   

  [with a copy to: 

   

  Golar LNG Limited 

   

  Address: 6th Floor, The Zig Zag, 70 Victoria Street, London SW1E 65Q, England

   

  Fax No.: +44 (0)20 7063 7901 

   

  Email: brian.tienzo@golar.com 

   

  Attention: Brian Tienzo]

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 20

          

  

  
     

    
      
 

  

   

  400  18. Entire Agreementagreement

   

  401       The written terms of this Agreement comprise the entire agreement between the Buyers and

  402       the Sellers in relation to the sale and purchase of the Vessel and supersede all previous

  403       agreements whether oral or written between the Parties in relation thereto.

   

  404       Each of the Parties acknowledges that in entering into this Agreement it has not relied on and

  405       shall have no right or remedy in respect of any statement, representation, assurance or

  406       warranty (whether or not made negligently) other than as is expressly set out in this Agreement.

   

  407       Any terms implied into this Agreement by any applicable statute or law are hereby excluded to

  408       the extent that such exclusion can legally be made. Nothing in this Clause shall limit or exclude

  409       any liability for fraud.

   

  Additional Clauses 19 to 25 (both inclusive) form an integral part of this Agreement. In the
        event of any inconsistency between (i) any terms set out in Clauses 1 to 18 of this Agreement and (ii) any terms set out in the Additional Clauses (i.e. Clauses 19 to 25) to this Agreement, the terms of the Additional Clauses shall prevail.

  The parties to this Agreement have executed this Agreement the day and year first before
        written. 

   

  SELLERS

   

  Signed by /s/                                        ) /s/ Jehan Manjee 

  as                                                          ) JEHAN MAWJEE

  for and on behalf of                            ) Attorney-in-fact

  GOLAR HULL M2026 CORP.         )

   

  BUYERS

   

  Signed by /s/                                         ) /s/ Peng Qingfeng 

  as project manager                              ) Attorney-in-fact

  for and on behalf of                             )

  NOBLE CELSIUS SHIPPING LIMITED[ ]                                                                )

  

  	 	 	 
	For and on  behalf of the Sellers	 	For and on behalf of the Buyers
	 	 	 
	Name:	Name: 	 
	 	 	 
	Title :	 	Title:

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 21

          

  

  
     

    
      
 

  

   

  Execution version

  ADDITIONAL CLAUSES

   

  TO MEMORANDUM OF AGREEMENT FOR LNG CARRIER "GOLAR CELSIUS" 

   

  		19.	Sellers’ representations

   

  The Sellers represent and warrant as at the date hereof and on the Delivery Date
      that:

   

  		(a)	they are the registered legal owners of the Vessel;

   

  		(b)	they are not a Restricted Party;

   

  		(c)	neither themselves nor any of their directors, officers or employees or any person acting on their
            behalf has received notice or is aware of any claim, action, suit, proceeding or investigation against any of them or the Vessel with respect to Sanctions by a Sanctions Authority; and

   

  		(d)	the copies of any document provided or to be provided by the Sellers to the Buyers in accordance
            with Clause 8 (Conditions precedent) are, or will be, true and accurate copies of the originals and represent, or will represent, the full agreement between the parties to those documents in relation to the subject matter of those
            documents, and there are no commissions, rebates, premiums or other payments due or to become due in connection with the subject matter of those documents.

   

  		20.	[Intentionally left blank]

   

  		21.	Delivery under bareboat charter

   

  		(a)	Without prejudice to paragraph (b) below, the Buyers shall, immediately after the delivery of the
            Vessel under this Agreement, be obliged to deliver the Vessel to the Sellers (as charterers) pursuant to a bareboat charterparty dated on or about the date of this Agreement in respect of the Vessel (the “Bareboat Charter”) made or to be
            made (as the case may be) between the Buyers (as owners) and the Sellers (as charterers).

   

  		(b)	The Sellers shall be fully responsible for the Buyers’ fulfillment of physical delivery (as owners)
            of the Vessel to the Sellers (as charterers) under the Bareboat Charter. The Buyers’ obligation to take delivery of the Vessel under this Agreement is subject to the Sellers (as charterers) taking delivery of the Vessel immediately thereafter
            under the Bareboat Charter.

   

  		(c)	If the Bareboat Charter is cancelled, terminated or otherwise ceases to be in full force and effect
            prior to the delivery of the Vessel under this Agreement, then this Agreement shall be null and void, provided however that Clause 14 (Sellers’ default) and Clause 24 (Indemnities) below shall survive.

   

  		22.	Payment

   

  		(a)	The Sellers and the Buyers agree that the Purchase Price shall be paid by the Buyers in the
            following manner:

   

  		(i)	the Existing Agent’s portion of the Purchase Price (the “Existing Agent’s Portion”) in such
            amount as the Sellers shall notify the Buyers in writing on or before the Notification Date shall, subject to Clause 23 (Set-off of Upfront Hire against Purchase Price) below (if applicable), be paid in full by the Buyers by depositing
            with the Existing Agent the Existing Agent’s Portion which shall be subsequently released to the Existing Agent or to such person(s) as may be nominated by the Existing Agent in accordance with paragraph (b)(i) below; and/or

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 22

          

  

  
     

    
      
 

  

   

  		(ii)	the Sellers’ portion of the Purchase Price (the “Sellers’ Portion”) in an amount equal to the
            difference between the Purchase Price and the Existing Agent’s Portion shall, subject to Clause 23 (Set-off of Upfront Hire against Purchase Price) below (if applicable), be paid by the Buyers by depositing with the Sellers’ Bank the
            Sellers’ Portion which shall be subsequently released to the Sellers or to such person(s) as may be nominated by the Sellers in accordance with paragraph (b)(ii) below.

   

  		(b)	On or before the Prepositioning Date:

   

  		(i)	if the Buyers have received evidence (in the form of confirmation that an MT199 or MT999 message is
            acceptable to the Existing Agent and the Buyers, acting reasonably) that the Existing Agent’s Portion will be held to the order of the Buyers, and only be released to the Existing Agent or to such person(s) as may be nominated by the Existing
            Agent upon presentation to the Existing Agent of a copy (transmitted by fax, email or otherwise) of the protocol of delivery and acceptance which is duly signed by an authorised signatory of the Buyers and an authorised signatory of the
            Sellers, evidencing the delivery by the Sellers and acceptance by the Buyers of the Vessel under this Agreement, then the Buyers shall deposit with the Existing Agent the Existing Agent’s Portion to be so held and so released, provided that
            the Buyers’ obligation to deposit with the Existing Agent the Existing Agent’s Portion is always subject to the Buyers being satisfied that:

   

  		(1)	all of the conditions precedent required under Clause 8 (Conditions precedent) other than the
            Delivery Date CPs have been satisfied; and

   

  		(2)	the Delivery Date CPs will be satisfied on or before the Delivery Date;

   

  		(ii)	if the Buyers have received evidence (in the form of confirmation that an MT199 or MT999 message is
            acceptable to the Sellers’ Bank and the Buyers, acting reasonably) that the Sellers’ Portion will be held to the order of the Buyers, and only be released to the Sellers or to such person(s) as may be nominated by the Sellers upon presentation
            to the Sellers’ Bank of a copy (transmitted by fax, email or otherwise) of the protocol of delivery and acceptance which is duly signed by an authorised signatory of the Buyers and an authorised signatory of the Sellers, evidencing the delivery
            by the Sellers and acceptance by the Buyers of the Vessel under this Agreement, then the Buyers shall deposit with the Sellers’ Bank the Sellers’ Portion to be so held and so released, provided that the Buyers’ obligation to deposit
            with the Sellers’ Bank the Sellers’ Portion is always subject to the Buyers being satisfied that:

   

  		(1)	all of the conditions precedent required under Clause 8 (Conditions precedent) other than the
            Delivery Date CPs have been satisfied; and

   

  		(2)	the Delivery Date CPs will be satisfied on or before the Delivery Date.

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 23

          

  

  
     

    
      
 

  

   

  		(c)	For the avoidance of doubt:

   

  		(i)	the amount of the Existing Agent’s Portion may be zero;

   

  		(ii)	if the Sellers fail to notify the Buyers of the amount of the Existing Agent’s Portion in accordance
            with paragraph (a)(i) of this Clause 22, the amount of the Existing Agent’s Portion will be deemed zero.

   

  		(d)	If (1) as the Sellers notify the Buyers in accordance with paragraph (a)(i) of this Clause 22, the
            amount of the Existing Agent’s Portion is zero or (2) the amount of the Existing Agent’s Portion is deemed zero pursuant to paragraph (c)(ii) of this Clause 22, then the Sellers’ Portion will equal the Purchase Price (subject to Clause 23 (Set-off

              of Upfront Hire against Purchase Price)) and paragraph (b)(i) of this Clause 22 shall not apply.

   

  		(e)	The Sellers agree to release, discharge, defend, indemnify, waive and hold harmless the Buyers from
            and against any liability, obligation or claim which may be asserted, claimed or recovered against the Buyers for any reason directly arising out of the release or the failure to release (as the case may be) of any part of the Purchase Price by
            the Existing Agent or the Sellers’ Bank except if the same results from or is a direct consequence of the Buyers’ failure to perform their obligations under or in breach of any provisions under this Agreement or the Bareboat Charter (including
            the Buyers’ failure to take delivery of the Vessel by countersigning and timing the protocol of delivery and acceptance in breach of this Agreement). The Buyers agree to provide reasonable assistance and cooperation to the Sellers in connection
            with any mistake or failure to release any part of the Purchase Price as contemplated by this Agreement.

   

  		(f)	If for any reason any part of the Purchase Price actually deposited with the Existing Agent or the
            Sellers’ Bank by the Buyers is not released in accordance with paragraph (b)(i) or (b)(ii) above within five (5) days after the Prepositioning Date, the Sellers shall procure the Existing Agent and/or (as the case may be) the Sellers’ Bank to
            return such part of the Purchase Price to the Buyers on the Return Due Date.

   

  		(g)	Without prejudice to any other provisions under this Agreement, the Sellers shall pay to the Buyers:

   

  		(i)	on the date any part of the Purchase Price is released in accordance with paragraph (b)(i) or
            (b)(ii) above; and

   

  		(ii)	on demand by the Buyers on and after the Return Due Date in relation to any part of the Purchase
            Price which is or should be returned to the Buyers in accordance with paragraph (f) above (whether or not it is actually returned on the Return Due Date);

   

  each as applicable, an amount equal to the interest accrued over the relevant
      Prepositioning Period and calculated at the rate of six point five per cent. (6.5%) per annum over such part of the Purchase Price.

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 24

          

  

  
     

    
      
 

  

   

  		23.	Set-off against Purchase Price

   

  The Sellers hereby consent, agree, acknowledge and confirm that:

   

  		(a)	notwithstanding Clause 1 (Purchase Price), the amount due and payable from the Buyers to the
            Sellers in accordance with Clause 22 (Payment) shall be set-off against (i) the Upfront Hire due from and payable by the Sellers (as charterers) to the Buyers (as owners) pursuant to the Bareboat Charter and (ii) the Deposit; and

   

  		(b)	on the date of payment of the Purchase Price, in accordance with Clause 22 (Payment) the
            Upfront Hire and the Deposit shall be set-off against the Purchase Price, upon which the Buyers shall no longer be obliged to pay the Sellers and the Sellers shall not be entitled to receive from the Buyers an amount which is more than the
            difference between (A) the Purchase Price and (B) the aggregate of the Upfront Hire and the Deposit.

   

  		24.	Indemnities

   

  		(a)	The Sellers shall pay such amounts to the Buyers in respect of all reasonable legal expenses and
            fees (including but not limited to any vessel registration and tonnage fees) incurred by or imposed on the Buyers arising from this Agreement or in connection with the delivery, registration and purchase of the Vessel by the Buyers whether
            prior to, during or after termination of this Agreement and whether or not the Vessel is in the possession or the control of the Sellers or otherwise in relation to any non-delivery to or acceptance by the Sellers (as charterers) of the Vessel
            under the Bareboat Charter.

   

  		(b)	Notwithstanding anything to the contrary herein, the indemnities provided by the Sellers in favour
            of the Buyers shall continue in full force and effect notwithstanding any breach of the terms of this Agreement or termination of this Agreement pursuant to the terms hereof.

   

  		25.	Further definitions

   

  In this Agreement:

   

  “Cancelling Date” means 10 March 2020 (or such other date as the Buyers and
      the Sellers may agree).

   

  “Delivery Date” means the date of delivery of the Vessel by the Sellers to
      the Buyers pursuant to this Agreement.

   

  “Delivery Date CPs” means the conditions precedent set out in paragraphs
      (a)(i), (a)(iv), (a)(vii), (a)(ix), (a)(xii)(A) and (a)(xii)(C) of Clause 8 (Conditions precedent).

   

  “Deposit” has the meaning given to such term in the Bareboat Charter.

   

  “Existing Agent” means Citibank Europe PLC, UK Branch.

   

  “Existing Liabilities” means all present and future moneys (including a
      principal amount of up to Sixty Five Million Two Hundred and Thirty Seven Thousand One Hundred and Forty Four US Dollars and Fifty Three Cents (US$65,237,144.53)), debts and liabilities due, arising or incurred by (among others) the
      Sellers to the relevant creditor parties and secured by (among other things) the Existing Mortgage.

   

  “Existing Mortgage” means the first preferred Marshall Islands ship
      mortgage dated 31 October 2013 granted by the Sellers (as owners) in favour of Swedbank AB (publ) as amended and assigned to the Existing Mortgagee by an assignment and amendment of the first preferred Marshall Islands ship Mortgage dated 18 October
      2018 as security for the Existing Liabilities.

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 25

  

  
     

    
      
 

  

   

  “Existing Mortgagee” means Citibank N.A., London Branch.

   

  “Hire” has the meaning given to such term in the Bareboat Charter.

   

  “Hire Payment Date” has the meaning given to such term in the Bareboat
      Charter.

   

  “Hong Kong” means the Hong Kong Special Administrative Region of the
      People’s Republic of China.

   

  “Notification Date” means the date falling seven (7) calendar days before
      the proposed Delivery Date.

   

  “PRC” means The People’s Republic of China, excluding Hong Kong, the Macau
      Special Administrative Region and Taiwan.

   

  “Prepositioning Date” means date falling one (1) Banking Day prior to the
      proposed Delivery Date.

   

  “Prepositioning Period” means:

   

  		(a)	if any part of the Purchase Price deposited with the Existing Agent or the Sellers’ Bank by the
            Buyers is released in accordance with paragraph (b)(i) or (b)(ii) of Clause 22 (Payment), the period commencing from (and inclusive of) the Prepositioning Date and ending on (and inclusive of) the date such part of the Purchase Price is
            released in accordance with paragraph (b)(i) or (b)(ii) of Clause 22 (Payment); or

   

  		(b)	if any part of the Purchase Price deposited with the Existing Agent or the Sellers’ Bank by the
            Buyers is or should be returned to the Buyers in accordance with paragraph (f) of Clause 22 (Payment) (whether or not it is actually returned on the Return Due Date, the period commencing from (and inclusive of) the Prepositioning Date
            and ending on (and inclusive of) the date such part of the Purchase Price is returned to the Buyers in accordance with paragraph (f) of Clause 22 (Payment).

   

  “Restricted Party” means a person or entity that is (a) listed on, or owned
      or controlled by a person listed on, any Sanctions List; (b) a national of, located in, incorporated under the laws of, or owned or (directly or indirectly) controlled by, a person located in or organised under the laws of a country or territory that
      is the target of country-wide or territory-wide Sanctions; or (c) otherwise a target of Sanctions ("target of Sanctions" signifying a person with whom a US person or other national of Sanctions Authority would be prohibited or restricted by law from
      engaging in trade, business or other activities).

   

  “Return Due Date” means the date which is the sixth (6th) day (if it is a Banking Day) after the Prepositioning Date or the Banking Day immediately after such sixth (6th) day (if such sixth (6th) day is not a Banking Day).

   

  “Sanctions” means the economic sanction laws, regulations, embargoes or
      restrictive measures administered, enacted or enforced by: (a) the United States government; (b) the United Nations; (c) the European Union and its member states; (d) the United Kingdom; or (e) the respective governmental institutions and agencies of
      any of the foregoing, including, without limitation, the Office of Foreign Assets Control of the US Department of Treasury (“OFAC”), the United States Department of State and Her Majesty’s Treasury (“HMT”); (together, the “Sanctions
        Authorities”).

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 26

          

  

  
     

    
      
 

  

   

  “Sanctions List” means the "Specially Designated Nationals and Blocked
      Persons" list maintained by the OFAC, the Consolidated List of Financial Sanctions Targets and the Investment Ban List maintained by HMT, or any similar list maintained by, or public announcement of Sanctions designation made by, any of the Sanctions
      Authorities.

   

  “Tax” or “tax” means any present and future tax (including, without
      limitation, value added tax, consumption tax or any other tax in respect of added value or any income), levy, impost, duty or other charge or withholding of any nature (including any penalty or interest payable in connection with any failure to pay
      or any delay in paying any of the same); and “Taxes”, “taxes”, “Taxation” and “taxation” shall be construed accordingly.

   

  “Trading Limits” means worldwide trading always within International
      Navigating Limits.

   

  “Upfront Hire” means the non-refundable advance hire payment which the
      Sellers (as charterers thereunder) are obliged to pay to the Buyers (as owners thereunder) upfront under the Bareboat Charter, being an amount equal to twenty five per cent. (25%) of the Purchase Price.

   

  “US Dollars”, “Dollars”, “USD”, “US$” and “$”
      each means available and freely transferable and convertible funds in lawful currency of the United States of America.

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 27

  

  
     

    
      
 

  

   

  The parties to this Agreement have executed this Agreement the day and year first before
      written.

   

  

  

  	SELLERS	 
	 	 
	Signed by /s/ JEHAN MAWJEE	)
	as duly authorised attorney-in-fact	)  /s/ Jehan Mawjee
	for and on behalf of	)
	GOLAR HULL M2026 CORP.	)

   

  

  	BUYERS	 
	 	 
	Signed by	)  /s/ Peng Quingfeng
	as duly authorised 	)  Peng Qingfeng
	for and on behalf of	)
	NOBLE CELSIUS SHIPPING LIMITED	)
	 	   Attorney-in-Fact

   

  	AVIC/Golar LNG — MOA Additional Clauses	Page 28Exhibit 10.15

   

  

  CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND
    (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.

   

  
    

   

  

  OPERATION & MAINTENANCE AGREEMENT

   

  between

   

  CELSE – CENTRAIS ELETRICAS DE SERGIPE S.A.

   

  and

   

  GE POWER & WATER EQUIPAMENTOS E SERVICOS DE ENERGIA E TRATAMENTO DE

   

  AGUA LTDA.,

   

  GENERAL ELECTRIC INTERNATIONAL INC.,

   

  GE GLOBAL PARTS AND PRODUCTS GMBH.

   

   

  Dated: December 22nd, 2016

   

  
    

   

  
    

    
      

  

  
  TABLE OF CONTENTS

   

  	
          ARTICLE 1: DEFINITIONS

        	
          5

        
	
          ARTICLE 2: WORK SCOPE

        	
          15

        
	
          ARTICLE 3: OWNER RESPONSIBILITIES

        	
          30

        
	
          ARTICLE 4: TERM AND TERMINATION

        	
          33

        
	
          ARTICLE 5: PAYMENTS

        	
          38

        
	
          ARTICLE 6: TITLE AND DELIVERY

        	
          45

        
	
          ARTICLE 7: INSURANCE

        	
          49

        
	
          ARTICLE 8: WARRANTY

        	
          51

        
	
          ARTICLE 9: LIMITATIONS OF LIABILITY

        	
          53

        
	
          ARTICLE 10: DISPUTE RESOLUTION

        	
          55

        
	
          ARTICLE 11: CONFIDENTIALITY

        	
          57

        
	
          ARTICLE 12: HEALTH, SAFETY AND SECURITY

        	
          58

        
	
          ARTICLE 13: SUPPLEMENTAL PAYMENT TERMS

        	
          59

        
	
          ARTICLE 14: ASSIGNMENT

        	
          59

        
	
          ARTICLE 15: SITE CONDITIONS AND HAZARDOUS MATERIALS

        	
          60

        
	
          ARTICLE 16: INDEMNIFICATION

        	
          61

        
	
          ARTICLE 17: INTELLECTUAL PROPERTY

        	
          61

        
	
          ARTICLE 18: CHANGES AND MODIFICATIONS

        	
          63

        
	
          ARTICLE 19: EXCUSABLE EVENTS

        	
          63

        
	
          ARTICLE 20: NOTICES

        	
          65

        
	
          ARTICLE 21: CHANGE IN LAW

        	
          66

        
	
          ARTICLE 22: TAXES AND DUTIES

        	
          66

        
	
          ARTICLE 23: NO NUCLEAR USE

        	
          67

        
	
          ARTICLE 24: GENERAL CLAUSES

        	
          67

        
	
          EXHIBIT A - COVERED UNIT

        	
          76

        
	
          EXHIBIT B - BOP EQUIPMENT

        	
          79

        
	
          EXHIBIT C - FACILITY TERMINAL POINTS

        	
          83

        
	
          EXHIBIT D - DRAFT MOBILIZATION SCHEDULE

        	
          84

        
	
          EXHIBIT E - ESTIMATIVE PRICE TABLE

        	
          85

        
	
          EXHIBIT F - ESTIMATED SITE STAFFING PLAN

        	
          87

        
	
          EXHIBIT G - GUARANTEED PERFORMANCE COMMITMENT

        	
          88

        
	
          EXHIBIT H - SITE BOUNDARY

        	
          95

        
	
          EXHIBIT I - DIVISION OF WORK / DIVISON OF RESPONSIBILITIES

        	
          98

        
	
          EXHIBIT J - ASSUMPTIONS

        	
          109

        
	
          EXHIBIT K - WATER SPECIFICATION

        	
          110

        
	
          EXHIBIT L - FUEL SPECIFICATION

        	
          111

        
	
          EXHIBIT M - AIR SPECIFICATION

        	
          112

        
	
          EXHIBIT N - STEAM SPECIFICATION

        	
          113

        

  

  

  
    2

    
      

  

  	
          EXHIBIT O - GE DIGITAL SOFTWARE SOLUTIONS

        	
          114

        
	
          EXHIBIT P - FORM OF LETTER OF CREDIT

        	
          124

        
	
          EXHIBIT Q - TIME AND MATERIAL RATES

        	
          127

        
	
          EXHIBIT R - SOFTWARE LICENSE

        	
          129

        
	
          EXHIBIT S - DIVISION OF RESPONSIBILITIES

        	
          134

        

  

  

  
    3

    
      

  

  PREAMBLE

   

  This Operation and Maintenance Agreement (the “Agreement”) is made effective this 22nd day of December, 2016 by and between:

   

  CELSE – CENTRAIS ELETRICAS DE SERGIPE S.A., a corporation organized under the laws of Brazil, with an office located at Rua Valdemar
    Dantas, 100, Grageru, 49025-300, Aracaja, Sergipe, Brazil, enrolled under CNPJ/MF No. 23.758.522/0001-52; (“Owner”); and

   

  GENERAL ELECTRIC INTERNATIONAL INC., a corporation organized under the laws of the State of Delaware, United States of America having a principal place of business at 4200 Wildwood
    Parkway, Atlanta, GA 30339 (the “Offshore Services Contractor”), GE GLOBAL PARTS AND PRODUCTS GMBH a corporation organized under the laws of Switzerland with registered office at Brown Boveri Strasse 7,
    5401 Baden (the “Offshore Parts Contractor”) (together the “Offshore Contractor”), and GE POWER & WATER EQUIPAMENTOS E SERVICOS DE ENERGIA E TRATAMENTO DE AGUA LTDA., a limited liability company organized
    under the laws of Brazil, with offices at Rodovia Jornalista Francisco Aguirre Proenea, Rodovia SP 101, Kin 3,8, lado par, Boa Vista, Campinas, Sao Paulo, enrolled at with the C.N.P.J.M.F. under No.01.009.681/0020-84 (the “Onshore Contractor”),
    (together defined as the “Contractor”).

   

  RECITALS

   

  WHEREAS, Contractor has, among other services, expertise in providing certain operational and maintenance services with respect to power plant equipment;

   

  WHEREAS, Owner has, under the EPC Contract (as defined in this Agreement), acquired from Contractor Affiliates the design, engineering and construction of the Facility (as defined
    in this Agreement), including the supply of the power plant equipment identified in this Agreement as the Covered Units;

   

  WHEREAS, Owner will own the Facility, which shall be located at Barra dos Coqueiros, Sergipe, Brazil;

   

  WHEREAS, Owner has requested that Contractor provides operation and maintenance services for the Facility in accordance with the terms of this Agreement;

   

  WHEREAS, Contractor is willing to provide services for the Facility in accordance with the terms of this Agreement;

   

  WHEREAS, the Offshore Parts Contractor and the Offshore Services Contractor will perform all the

   

  scope of work strictly outside of Brazil (Parts supply and Repair Services, respectively), and the Onshore Services Contractor will perform only scope strictly within Brazil; and

   

  
    4

    
      

  

  WHEREAS, in addition to the services to be provided by Contractor under this Agreement, Owner has contracted Contractor Affiliates by the CSA Contract to provide specific
    maintenance works to the Covered Units, which are complementary to those services that are part of the scope of Contractor under this Agreement.

   

  NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, Contractor and Owner hereby agree to the
    following.

   

  ARTICLE 1: DEFINITIONS

   

  The following terms shall have the meaning set forth in this Article 1 below when used in this Agreement.

   

  	1.1	
          “Acceptable Fuel” means gas fuel, for use in the gas turbine Covered Unit(s), which, at the inlet to the gas turbine fuel nozzle meets the quality requirements set forth in the following GEI-41040M. The current version(s) of these
            specifications are attached as Exhibit L.

        

   

  	1.2	
          “Additional Mobilization Fee” shall have the meaning set forth in Section 5.4.3.1.2.

        

   

  	1.3	
          “Administrative Services” means those services described as such in Section 2.9.

        

   

  	1.4	
          “Additional Term” shall have the meaning described in Section 4.1.1.

        

   

  	1.5	
          “Affected Party” means a Party who is prevented, hindered, disrupted or delayed from performing all or part of its obligations under this Agreement by an Excusable Event. Both Parties may be an Affected Party in respect of a single
            Excusable Event.

        

   

  	1.6	
          “Affiliate” with respect to a Party means an entity (including without limitation any individual, corporate, partnership, limited liability company, association or trust) controlling, controlled by or under common control with that
            Party, whether directly or indirectly.

        

   

  	1.7	
          “Agreement” means this Operation and Maintenance Agreement including all Exhibits and amendments.

        

   

  	1.8	
          “Assumptions” means the assumptions stated in Exhibit J.

        

   

  	1.9	
          “Assumption Violation(s)” means one or more of the Assumptions has been violated.

        

   

  	1.10	
          “Balance of Plant Equipment” or “BOP Equipment” means, all equipment, systems, and other portions of the Facility, excluding the Covered Unit(s), as more fully defined in Exhibit B.

        

   

  
    5

    
      

  

  	1.11	
          “Business Day” means a day other than a Saturday or Sunday or public holiday in Brazil and/or the State of Sergipe and/or Barra dos Coqueiros.

        

   

  	1.12	
          “BOP Equipment ISP Fee” shall have the meaning described in Section 5.4.3.2.

        

   

  	1.13	
          “Punch List” means a written list of unfinished work items under the EPC Contract, as updated from time to time.

        

   

  	1.14	
          “Calendar Year(s)” means each twelve (12) month period commencing on 00:00 on January 1st and continuing to but not including 24:00 of the following
            December 31st.

        

   

  	1.15	
          “CMMS” means the computerized system identified as such in Section 2.3.2 (1).

        

   

  	1.16	
          “Commercial Operation Date” means the Provisional Acceptance Date defined under the EPC Contract.

        

   

  	1.17	
          “Competitor of Contractor” means any person or entity which (i) is engaged in the manufacture or sale of parts, components or equipment similar to or of a type manufactured or sold by General Electric Company and its Affiliates
            (including, without limitation, gas turbines, steam turbines or generators, or parts for gas turbines, steam turbines or generators), or (ii) is engaged in the provision of services similar to any services to be provided by Contractor under
            this Agreement, or (iii) is an Affiliate of a person or entity engaged in any of the activity described in (i) or (ii) above.

        

   

  	1.18	
          “Condition-Based Maintenance” means inspections, techniques, monitoring, and/or analyses Contractor may undertake or apply, consistent with Good Industry Practices or advances in such practices, to (i) optimize outage intervals; (ii)
            minimize outage hours; (iii) optimize Parts usage, and/or (iv) optimize work scopes and maintenance activities.

        

   

  	1.19	
          “Confidential Information” shall have the meaning described in Section 11.1.

        

   

  	1.20	
          “Contract Effective Date” means the date of execution of this Agreement.

        

   

  	1.21	
          “Contractor” or “GE” means the entities identified as “Contractor” in the Preamble and its legal successors and permitted assigns.

        

   

  	1.22	
          “Contractor Equipment” means the equipment and other tools and materials, defined as such in Section 6.5.

        

   

  
    6

    
      

  

  	1.23	
          “Contractor Taxes” means: The following taxes, which are already included in the price of the Agreement, shall be paid directly by Contractor, and Contractor shall provide all relevant information to Brazilian fiscal authorities, thus
            undertaking Contractor full liability arising from misclassification and/or wrongful collection of such taxes: (i) for Onshore Contractor, any and all direct and indirect taxes and contributions, including, but not limited to corporate and
            employment-related taxes and contributions that are imposed by any government authority of Brazil, due to performance of and/or payment under this Agreement, which in Brazil, includes, but is not limited to: IRPJ (Imposto de Renda da Pessoa Juridica), CSLL (Contribuição Social sobre o Lucro Liquido), INSS (Contribuição Social para o Instituto Nacional da
              Seguridade Social), FGTS, (Fundo de Garantia por Tempo de Serviço), PIS (Contribuição para o Programa de Integração Social), the COFINS (Contribuição para o Financiamento da Seguridade Social), ISS (Imposto sobre Serviços de Qualquer Natureza); and (ii) for the Offshore Contractor, any and all
            corporate taxes that are measured by net income and/or profit imposed by any governmental authority of any applicable city, state or country other than Brazil on Offshore Services Contractor and/or Offshore Parts Contractor, and/or its
            subcontractors, due to performance of or payment under this Agreement.

        

   

  	1.24	
          “Contractual Service Agreement” or “CSA Contract” means the agreement dated on or about the date of this Agreement and entered into between CELSE – Centrals Eletricas de Sergipe S.A and GENERAL ELECTRIC INTERNATIONAL INC., GE
            GLOBAL PARTS AND PRODUCTS GMBH and GE POWER & WATER EQUIPAMENTOS E SERVIÇOS DE ENERGIA E TRATAMENTO DE ÁGUA LTDA., relating to the supply of parts and services for the Covered Units.

        

   

  	1.25	
          “Covered Unit(s)” means the equipment identified as such in Exhibit A.

        

   

  	1.26	
          “CSA Contractor” means the GE contracting entity or entities as defined in the CSA Contract.

        

   

  	1.27	
          “Current Part” shall have the meaning described in Section 2.13.

        

   

  	1.28	
          “Data” shall have the meaning described in Section 24.2.

        

   

  	1.29	
          “DCS” means Distributed Control System provided under the EPC Contract.

        

   

  	1.30	
          “Defaulting Party” shall have the meaning described in Section 4.2.1.1.

        

   

  	1.31	
          “Demobilization” shalt have the meaning described in Section 2.15.

        

   

  
    7

    
      

  

  	1.32	
          “EPC Contract” means the agreement entered into by Owner and EPC Contractor for the design, engineering, procurement, construction and delivery of the Facility in a lump-sum turn-key basis, dated as October 14th, 2016.

        

   

  	1.33	
          “EPC Contractor” means General Electric Switzerland GmbH, General Electric International, Inc., Alstom Energia Termica e IndUstria Ltda., Grid Solutions Transmissao de Energia Ltda., under the EPC Contract or any successor and/or
            assignee GE Affiliate of the foregoing parties interest under the EPC Contract.

        

   

  	1.34	
          “EU” means the European Union.

        

   

  	1.35	
          “Excusable Event” means any act, event or circumstance or any combination thereof which:

        

   

  	(a)	
          is beyond the reasonable control of the Affected Party;

        

   

  	(b)	
          is without fault or negligence on the part of the Affected Party;

        

   

  	(c)	
          could not have been reasonably foreseen, avoided or overcome by the Affected Party; and

        

   

  	(d)	
          prevents, hinders, disrupts or delays the Affected Party in its performance of all (or part) of its obligations under this Contract.

        

   

  	1.36	
          “Extra Work” means Parts and services provided by Contractor pursuant to Section 2.7.

        

   

  	1.37	
          “Facility” means, to the extent owned by Owner, the power plant, incorporating the Covered Unit(s), to be constructed pursuant to the EPC Contract on the Site up to but excluding the terminal points as defined in Exhibit C.

        

   

  	1.38	
          “Facility Manager” shall have the meaning described in Section 2.8.

        

   

  	1.39	
          “Facility Work Force” means employees of Contractor or Contractor subcontractors having their regular place of work at the Site who perform the Operation Services and/or Routine Maintenance Services described in Section 2.10 and 2.11
            respectively and as better detailed in Exhibit F.

        

   

  	1.40	
          “Factored Fired Hours” or “FFH” means the weighted number of hours that a Covered Unit is operated consisting of the actual number of fired hours of operation adjusted on account of conditions applicable during those hours of
            operation in accordance with Exhibit G.

        

   

  	1.41	
          “GE Digital Software Solutions” means the software solutions provided by Contractor during the Term of the Agreement pursuant of Exhibit O.

        

   

  
    8

    
      

  

  	1.42	
          “Good Industry Practices” means those internationally recognized practices, methods and standards in effect as of the date of execution of this Agreement that, in the exercise of the reasonable judgment of a skilled, prudent and
            experienced services contractor of facilities of a similar size, scope and complexity of the Facility, and in light of the facts known or which reasonably should have been known at the time a decision was made, would have been expected to
            accomplish the desired result in a manner consistent with this Agreement and with due regard to optimization of operation, reliability, safety, environmental protection and protection of equipment.

        

   

  	1.43	
          “Governing Law” shall have the meaning described in Section 10.1.

        

   

  	1.44	
          “Gross Negligence” means any act of unreasonable character in disregard of unknown or obvious risk that was so great as to make it highly probable that harm would follow and which was done with conscious indifference to the outcome.

        

   

  	1.45	
          “Guaranteed Performance Commitment” means the guarantees specified in Exhibit G.

        

   

  	1.46	
          “Hand Over” shall have the meaning described in Section 2.15.

        

   

  	1.47	
          “Hazardous Materials” means toxic substances, hazardous substances or hazardous wastes, as such terms are defined in any law, statute, ordinance or regulation promulgated by any national, federal, state, provincial, or local
            government authority of the country of the Site and which may cause harm to human health.

        

   

  	1.48	
          “Health and Safety Program” shall have the meaning described in Section 2.3.2 (o).

        

   

  	1.49	
          “HRSG” means Heat Recovery Steam Generator as provided under the EPC Contract.

        

   

  	1.50	
          “ICC Rules” shall have the meaning described in Section 10.4.

        

   

  	1.51	
          “INMET” shall have the meaning described in Section 19.3 (j).

        

   

  	1.52	
          “Incoming Fuel” means fuel that meets the specification(s) set forth in Exhibit L.

        

   

  	1.53	
          “Initial Spare Parts” means those Parts identified as such in Exhibit E.

        

   

  	1.54	
          “Insolvent” or “Insolvency” means that:

        

   

  
    9

    
      

  

  	(a)	
          a Party, or an entity that has given a parent company guarantee related to this Agreement on behalf of that Party: petitions or applies for or arranges for the appointment of a trustee, liquidator or receiver, or commences any proceeding
            relating to itself under any bankruptcy, insolvency, judicial recovery, dissolution or liquidation or similar law of the country under which the insolvent Party is organized or a country in which the insolvent Party conducts business, now or
            hereafter in effect (collectively “Bankruptcy Laws”), or shall be adjudicated bankrupt or insolvent in such a country; or

        

   

  	(b)	
          Party, or an entity that has given a parent company guarantee related to this Agreement on behalf of that Party, gives its approval of, consent to, or acquiesces in, any of the following: the filing of a petition or application for the
            appointment of a trustee, liquidator or receiver against that Party; the commencement of any proceeding under any Bankruptcy Laws against that Party; or the entry of an order appointing any trustee, liquidator or receiver; or

        

   

  	(c)	
          a Party is systematically unable to pay its debts when due or is late in making three or more consecutive and undisputed payments required under this Agreement.

        

   

  	1.55	
          “Inspect Only Components” means those components identified as such in Exhibit B.

        

   

  	1.56	
          “IPCA” shall have the meaning described in Section 5.9.

        

   

  	1.57	
          “Lender(s)” means any person that provides project financing to Owner together with their respective successors and assigns.

        

   

  	1.58	
          “LIBOR” shall have the meaning described in Section 5.9.

        

   

  	1.59	
          “Mobilization Schedule” means the schedule of the activities to be conducted during the Mobilization Phase by Contractor, as described in Exhibit D.

        

   

  	1.60	
          “Mandatory Spare Parts” means Parts and components for the Covered Unit(s) that Contractor must keep and maintain at the Site during the Term of this Agreement, as identified in Exhibit F. For clarification purposes Mandatory Spare
            Parts for the Covered Units are supplied under the CSA Contract.

        

   

  	1.61	
          “Mobilization Phase” means the time period described in Section 2.3.

        

   

  	1.62	
          “Mobilization Services” means those services specified in Section 2.3.

        

   

  	1.63	
          “Mobilization Fee” shall have the meaning set forth in Section 5.4.2.1.

        

   

  
    10

    
      

  

  	1.64	
          “Monthly Fixed Fee” means the fee described in Section 5.4.4.1.

        

   

  	1.65	
          “Non-Defaulting Party” shall have the meaning set forth in 4.2.1.1.

        

   

  	1.66	
          “Offshore Services Contractor” means the entity identified as “Offshore Services Contractor” in the Recitals and its legal successors and permitted assigns.

        

   

  	1.67	
          “Offshore Parts Contractor” means the entity identified as “Offshore Parts Contractor” in the Recitals and its legal successors and permitted assigns.

        

   

  	1.68	
          “Offshore Contractor” means the entity identified as “Offshore Contractor” in the Recitals and its legal successors and permitted assigns.

        

   

  	1.69	
          “Onshore Contractor” means the entity identified as “Onshore Contractor” in the Recitals and its legal successors and permitted assigns.

        

   

  	1.70	
          “Operation Fee” means the fee described in Section 5.4.4.

        

   

  	1.71	
          “Operation Phase” means the period of time commencing upon the Commercial Operation Date and continuing until the end of Term.

        

   

  	1.72	
          “Operation Services” means certain services to be provided by Contractor to carry out operation of the Facility as more fully described in Section 2.10.

        

   

  	1.73	
          “Operation and Maintenance Procedures” means procedures describing the performance of operation and maintenance services at the Facility, required by this Agreement, based on: i) the original equipment manufacturer’s maintenance
            recommendations, ii) the Owner’s Requirements, and iii) Contractor’s standards.

        

   

  	1.74	
          “Operational Spare Parts” shall have the meaning set forth in Exhibit B of the CSA.

        

   

  	1.75	
          “Owner” means the entity identified as “Owner” in the Preamble and its legal successors and permitted assigns.

        

   

  	1.76	
          “Owner Taxes” means the following taxes: (i) in reference to the scope to be provided by the Offshore Parts Contractor: II (Imposto de Importação), IPI (Imposto

              sobre Produtos Industrializados), ICMS (Imposto de Circulação de Mercadoria e Serviços), PIS-Import (Contribuição para o Programa de Integração Social -
              Importação), COFINS-Import (Contribuição para o Financiamento da Seguridade Social - Importação); and (ii) in reference to   the  scope  to   be  provided  by  the  Offshore  Services 
            Contractor: CIDE (Contribuição  de

        

   

  
    11

    
      

  

  Intervenção no Dominio Econômico), PIS-Import (Contribuição para o Programa de Integração Social - Importação),
    COFINS-Import (Contribuição para o Financiamento da Seguridade Social - Importação), ISS (Imposto sobre Serviços de Qualquer Natureza), IOF (Imposto sobre Operações de Crédito, Câmbio e Seguro, on Relativas a Titulos ou Valores Mobiliários), IRRF (Imposto de Renda Retido na Fonte) and other taxes that are created after the execution
    of this Agreement subjecting Offshore Contractor to new taxes in Brazil.

   

  	1.77	
          “Owner’s Representative” shall have the meaning described in Section 3.2. (e).

        

   

  	1.78	
          “Owner’s Requirements” means Owner’s written instructions of specific, desired work activities within the general scope of Contractor’s responsibilities based upon Owner’s obligations arising under relevant portions of the Project
            Documents, as interpreted by Owner, to the extent agreed in writing by Contractor.

        

   

  	1.79	
          “Parts” means all new or repaired (or, when allowed under this Agreement, refurbished) parts, materials, components and other goods furnished by Contractor, or its subcontractors, under this Agreement.

        

   

  	1.80	
          “Parts Directly Purchased by Owner” shall have the meaning described in Section 2.7.2.1.

        

   

  	1.81	
          “Party” means Owner or Contractor individually and “Parties” means Owner and Contractor collectively.

        

   

  	1.82	
          “Performance Year” means twelve (12) months commencing on the day after six (6) months from Commercial Operation Date and any subsequent period of 12 (twelve) consecutive months thereafter.

        

   

  	1.83	
          “Plan of Daily Operation” means Owner’s most recently delivered written instructions to Contractor specifying the Owner’s operating objectives for energy generation from the Facility for the applicable period taking into account the
            terms of this Agreement.

        

   

  	1.84	
          “Planned Maintenance” means periodic inspection, testing, repair, and / or replacement of components of BOP Equipment, planned in advance pursuant to original equipment manufacturer’s recommendations and Good Industry Practices, as
            reasonably necessary in light of deterioration due to normal wear and tear, but not including:

        

   

  	(a)	
          repair or replacement of Inspect Only Components or excluded BOP Equipment components;

        

   

  	(b)	
          the performance of Unplanned Maintenance;

        

   

  
    12

    
      

  

  	(c)	
          performance of Routine Maintenance Services or the supply of Routine Maintenance Parts;

        

   

  	(d)	
          Extra Work, and

        

   

  	(e)	
          any work due to a change in original equipment manufacturer’s recommendation after the Contract Effective Date.

        

   

  	1.85	
          “Planned Maintenance Event” means the BOP Equipment planned maintenance inspection performed concurrently with the covered maintenance performed on the gas turbine Covered Units (Hot Gas Path inspection or major inspection).

        

   

  	1.86	
          “Planned Maintenance Event Fee” means the fee described in Section 5.4.4.3.

        

   

  	1.87	
          “Pre-Mobilization Fee” means the fee described in Section 5.4.2.

        

   

  	1.88	
          “Pre-Mobilization Services” means the services described as such in Section 2.2.

        

   

  	1.89	
          “Pre-Mobilization Phase” means the period of time commencing on the Contract Effective Date and ending upon the start of the Mobilization Phase.

        

   

  	1.90	
          “Production Plan” means the annual plan for production of electricity and thermal energy for the Facility for a particular Calendar Year as mutually agreed by the Parties.

        

   

  	1.91	
          “Project Documents” means those agreements, permits, and other documents, applicable to Owner and the Facility, that Owner has determined are relevant for the operation and maintenance of the Facility.

        

   

  	1.92	
          “Repair Facility” means Contractor’s or its subcontractor’s repair facility where Repair Services are performed.

        

   

  	1.93	
          “Repair Services” means repair work, which can be performed in a repair service shop or at the Site, including, but not limited to, machining, welding, grinding, polishing, cleaning, inspection, disassembly or re-assembly and machine
            tool work such as lathe work or vertical bore mill work.

        

   

  	1.94	
          “Routine Maintenance Services” means those services described as such in Section 2.11.

        

   

  	1.95	
          “Routine Maintenance Parts” means those parts described as such in Section 2.11.

        

   

  	1.96	
          “Site” means the parcel of land upon which the Facility is located as more fully described in Exhibit H.

        

   

  
    13

    
      

  

  	1.97	
          “Technical Advisory Services” means engineering and technical advice and/or guidance, based upon Contractor’s then-current standard practices, with respect to the BOP Equipment or  the Parts.

        

   

  	1.98	
          “Term” means the time period beginning on the Contract Effective Date and ending upon termination of or expiration of this Agreement as more fully described in Section 4.1.1.

        

   

  	1.99	
          “Termination Amount” shall have the meaning described in Section 4.2.7.

        

   

  	1.100	
          “Termination by Convenience Amount” shall have the meaning described in Section 4.2.6.

        

   

  	1.101	
          “Time and Material Rates” means:

        

   

  	(a)	
          if provided by Contractor (i) for services to be performed in the Facility by the Facility Work Force, the rates defined in Exhibit Q; or (ii) for all other services to be performed in the Facility by other personnel of Contractor than the
            Facility Work Force, Contractor’s world-wide applicable standard rates for services as in effect in the time of its performance (plus travelling and lodging expenses proven incurred by Contractor if Owner previously and expressly approves the
            performance of such services by non-local personnel) and/or Parts manufactured by Contractor as in effect at the time the Parts are shipped, as – in any case for such services and/or Parts – published by GE at https://store.2epower.com; or

        

   

  	(b)	
          if not provided by Contractor, the direct and duly evidenced costs of parts, materials and subcontracted labor and services purchased by Contractor, as shown by relevant invoices, together with a markup of 7.5% (seven and a half percent) of
            such invoices, if applicable; or

        

   

  	(c)	
          refurbished Parts, the standard market price, taking in consideration the lifespan of the relevant refurbished Part.

        

   

  	1.102	
          “Upgraded Part” shall have the meaning described in Section 2.13.

        

   

  	1.103	
          “Unplanned Maintenance” means maintenance of the BOP Equipment that is neither Planned Maintenance, Routine Maintenance Services, Routine Maintenance Parts nor Extra Work, required to remedy a failure or abnormality of a component of
            such BOP Equipment, whether discovered during operation, during an outage which occurs as a result of a problem or failure of such component or during inspection or monitoring of the Facility.

        

   

  	1.104	
          “Unplanned Extra Work” means Unplanned Extra Work 1 or Unplanned Extra Work II, whichever is applicable.

        

   

  
    14

    
      

  

  	1.105	
          “Unplanned Extra Work I” shall have the meaning described in Section 2.6.1.

        

   

  	1.106	
          “Unplanned Extra Work II” shall have the meaning described in Section 2.6.2.

        

   

  	1.107	
          “US” means the United States of America.

        

   

  	1.108	
          “Variable Monthly Fee” means the fee described in Section 5.4.4.2.

        

   

  	1.109	
          “Willful Misconduct” means an intentional and wrongful act, or an intentional and wrongful omission of some act, in either case with the intent to inflict damage or injury, and in reckless disregard of a legal duty.

        

   

  ARTICLE 2: WORK SCOPE

   

  
    	
            2.1

          	
            Contractor’s Scope of Work

          

  

   

  Contractor shall provide the following under this Agreement:

   

  	

        	(a)	
          Pre-Mobilization Services in accordance with Section 2.2;

        

   

  	

        	(b)	
          Mobilization Services in accordance with Section 2.3;

        

   

  	

        	(c)	
          Outage planning in accordance with Section 2.4;

        

   

  	

        	(d)	
          Planned Maintenance of the BOP Equipment in accordance with Section 2.5;

        

   

  	

        	(e)	
          Unplanned Maintenance of the BOP Equipment in accordance with Section 2.6;

        

   

  	

        	(f)	
          Extra Work in accordance with Section 2.7;

        

   

  	

        	(g)	
          A Facility Manager in accordance with Section 2.8;

        

   

  	

        	(h)	
          Administrative Services in accordance with Section 2.9;

        

   

  	

        	(i)	
          Operation Services in accordance with Section 2.10;

        

   

  	

        	(j)	
          Routine Maintenance Services and Routine Maintenance Parts in accordance with Section 2.11;

        

   

  
    15

    
      

  

  	

        	(k)	
          Demobilization in accordance with Section 2.15; and

        

   

  	

        	(l)	
          Provide the Guaranteed Performance Commitment, a key imperative of this Agreement, in accordance with Exhibit G of the Agreement.

        

   

  	2.1.1	
          Notwithstanding the division of scope between the Contractor entities (namely, the Onshore Contractor and the Offshore Contractor), the entities comprising Contractor will be jointly and severally liable towards Owner for any and all
            Contractor’s obligations under this Agreement. For  the avoidance of doubt, payment of any portion of the services and/or Parts to any entities comprising Contractor will release Owner from paying that same amount for the same portion of the
            services and/or Parts to any other entities comprising Contractor. Therefore, Contractor acknowledges and agrees that every payment to any entity comprising Contractor shall be deemed as an automatic and immediate release from all entities
            comprising Contractor for payment of that portion of the services and/or provision of Parts. Likewise the performance of any portion of the services and/or Parts by any entities comprising Contractor will release all entities comprised by
            Contractor from performing such portion of the services and/or provision of Parts.

        

   

  	2.2	
          Pre-Mobilization Services

        

   

  During the Pre-Mobilization Phase, Contractor shall perform the services described below in this Section 2.2, the frequency and timing of which shall be reasonably agreed upon by Owner and Contractor
    (the “Pre-Mobilization Services”):

   

  	2.2.1	
          Review, as information is made available by Owner and/or EPC Contractor, the Facility layout, operation and maintenance manuals provided by equipment manufacturers, spare parts list, and office, workshop, and warehouse space requirements,
            and provide Owner with comments and recommendations to the extent Contractor finds such matters impact the operation and maintenance of the Facility.

        

   

  	2.2.2	
          In cooperation with the EPC Contractor and subject to Owner’s approval, to schedule the activities to occur during the Mobilization Phase, per Section 2.3.

        

   

  	2.2.3	
          Commence preparation of the Facility Work Force training program described in Section 2.3.2 (d) to be implemented during the Mobilization Phase.

        

   

  	2.2.4	
          As information becomes available, to develop health, safety and environmental programs to be used by the Facility Work Force.

        

   

  	2.2.5	
          Review Owner’s security program for the Facility and the Site and provide suggestions.

        

   

  

  
    16

    
      

  

  	2.2.6	
          Update and review the Mobilization Schedule set forth by Exhibit D.

        

   

  	2.3	
          Mobilization Services

        

   

  	2.3.1	
          With minimum advance notice of eighteen (18) months, Owner shall confirm the projection of the Commercial Operation Date and/or inform a new the date in which Commercial Operation Date will occur. Contractor shall commence Mobilization
            Services twelve (12) months prior to such confirmed Commercial Operation Date (the “Mobilization Phase”). If Owner extends the Commercial Operation Date after its confirmation, Owner will pay for the direct and reasonably costs incurred by
            Contractor during Mobilization Phase. If, however, EPC Contractor causes a delay in the Commercial Operation Date after Owner’s confirmation referred in this Section, Owner will not reimburse any cost incurred by Contractor during Mobilization
            Phase.

        

   

  	2.3.2	
          During the Mobilization Phase, Contractor shall perform the services specified below in this Section 2.3 (the “Mobilization Services”):

        

   

  	

        	(a)	
          Three (3) months prior to the commencement of the Acceptance Tests as defined under the EPC Contract, to provide assistance to EPC Contractor during the Facility’s start-up, commissioning and testing. Until the initial day of the Commercial
            Operation Date, such personnel shall be under the direction, supervision and control of EPC Contractor, provided that Contractor shall cause that the personnel provided by Contractor comply with EPC Contractor’s instructions and directions;

        

   

  	

        	(b)	
          Appoint a Facility Manager;

        

   

  	

        	(c)	
          Select the Facility Work Force;

        

   

  	

        	(d)	
          Conduct a Facility Work Force orientation and training program, that includes applicable Brazilian training requirements for the operation of power plants such as the Facility, consisting of (i) formal classroom lectures, (ii) electronic
            training and presentations, and (iii) selected on-the-job training experiences in coordination with the Facility start-up. This orientation and training program will provide an overview of the Facility, the Operation and Maintenance Procedures
            and Facility safety procedures. Furthermore, Contractor shall make available the Facility Work Force to participate in all vendor equipment training to be provided under the EPC Contract;

        

   

  	

        	(e)	
          At the request of Owner, participate in periodic status meetings covering progress of the Facility construction and the Mobilization Services;

        

   

  
    17

    
      

  

  	

        	(f)	
          Develop initial plans for procurement of materials, and initiate discussions with potential suppliers;

        

   

  	

        	(g)	
          Develop Facility Operation and Maintenance Procedures in accordance with Contractor’s standard format in the Portuguese language (subject to timely receipt of any required information from Owner);

        

   

  	

        	(h)	
          Develop a list of the Initial Spare Parts to be stored by Contractor in inventory at the   Facility;

        

   

  	

        	(i)	
          Order and deliver the Initial Spare Parts;

        

   

  	

        	(j)	
          Establish an inventory control procedure for spare parts, consumables, and materials to be kept in inventory by Contractor at the Facility;

        

   

  	

        	(k)	
          Review a written final copy of the Punch List items provided by Owner and highlight any items identified by Contractor as potentially impacting in the performance of Contractor’s obligations under this Agreement;

        

   

  	

        	(l)	
          Develop a maintenance program using a computerized maintenance management system (“CMMS”);

        

   

  	

        	(m)	
          Upload data provided by Owner into the CMMS;

        

   

  	

        	(n)	
          Develop, in accordance with the Good Industry Practice, a health and safety program for the operation and maintenance of the Facility (“Health and Safety Program”), and - prior to Commercial Operation Date - Contractor will subject the
            Health and Safety Program for Owner’s approval which approval shall not be unreasonably withheld. The Health and Safety Program shall take into account, among other relevant procedures, energization/de-energization of power equipment
            (electrical, mechanical and hydraulic) utilizing a lock out – tag out process and a confined space entry program for the Facility;

        

   

  	

        	(o)	
          Owner will be entitled to request reasonable adjustments to the Health and Safety Program, which shall be implemented by Contractor. Once approved by Owner, Contractor will follow the Health and Safety Program for the performance of the
            Operation Services, as per Section 12.1.1; and

        

   

  	

        	(p)	
          File, obtain, maintain and provide a copy to Owner of all authorizations, registrations, exemptions, permits and licenses required under law to be filed or held by Contractor  in its  name in order for Contractor to generally conduct
            business and employ personnel in the applicable jurisdiction.

        

   

  
    18

    
      

  

  Owner may demand that the Operation Phase is advance, even if Contractor has not completed Mobilization Phase. In such case, Contractor will be entitled to complete the activities described in the
    Mobilization Phase during the first 3 (three) months of Operation Phase.

   

  	2.4	
          Outage Planning

        

   

  At a mutually agreed date in each Calendar Year, Contractor’s representative(s), CSA Contractor’s representative(s) and Owner’s representative(s) shall meet to discuss (i) the anticipated Covered
    Unit(s) outages and Planned Maintenance plan for the next Calendar Year, which will form the basis of the next Calendar Year’s Production Plan and (ii) the status of the current year outage maintenance plan. The Contractor shall be the lead for this
    process and shall submit to Owner the corresponding overall outage plans so that Owner may approve such overall outage plans.

   

  	2.5	
          Planned Maintenance of the BOP Equipment

        

   

  For all BOP Equipment, from the Commercial Operation Date to the end of Term, Contractor shall provide Parts and services necessary for Planned Maintenance of such BOP Equipment.

   

  	2.5.1.	
          BOP Equipment Inspect Only Components shall be treated in accordance to Exhibit B.

        

   

  	2.6	
          Unplanned Maintenance

        

   

  	2.6.1	
          Unplanned Maintenance for the HRSGs and main/auxiliary transformers of the BOP Equipment. For the HRSGs and main/auxiliary transformers of the BOP Equipment, from the Commercial Operation Date to the end of Term, Contractor shall provide
            Parts and services necessary for Unplanned Maintenance of such BOP Equipment.

        

   

  The first one million Brazilian Reais (R$ 1,000,000.00) of the price for Parts and services for each Unplanned Maintenance outage shall be borne by Contractor, up to a maximum of three million,
    Brazilian Reais (R$ 3,000,000.00) in any one Calendar Year. This price shall be determined by the Time and Material Rates in effect at the time the work is performed. The price for Parts and services for Unplanned Maintenance which exceeds any of the
    foregoing amounts (“Unplanned Extra Work I”) shall be the Time and Materials Rates in effect at the time the work is performed.

   

  
    19

    
      

  

  If the BOP Equipment requires Unplanned Maintenance during the Term of this Agreement, Contractor shall submit to Owner’s approval, not to be unreasonably withheld, the schedule for performance of such
    Unplanned Maintenance. Contractor shall thereupon correct any defect by (i) performing the necessary services, and (ii) at its option repairing and re-installing defective components of the BOP Equipment or delivering necessary replacement Parts and
    installing such Parts.

   

  	2.6.2	
          Unplanned Maintenance of the rest of BOP Equipment

        

   

  For the rest of BOP Equipment, from the Commercial Operation Date to the end of Term, Contractor shall provide any and all Parts and services necessary for Unplanned Maintenance of such BOP Equipment.

   

  The first: two hundred and fifty thousand Brazilian Reais (R$ 250,000.00) of the price for Parts and services for each Unplanned Maintenance outage shall be borne by Contractor, up to a maximum of one
    million two hundred and fifty thousand Brazilian Reais (R$ 1,250,000.00) for Unplanned Maintenance in any one Calendar Year. This price shall be determined by the Time and Material Rates in effect at the time the work is performed. The price for Parts
    and services for Unplanned Maintenance which exceeds any of the foregoing amounts (“Unplanned Extra Work II”) shall be the Time and Materials Rates in effect at the time the work is performed.

   

  If the BOP Equipment requires Unplanned Maintenance during the Term of this Agreement, Contractor shall submit to Owner’s approval, not to be unreasonably withheld, the schedule for performance of such
    Unplanned Maintenance. Contractor shall thereupon correct any defect by (i) performing necessary services, and (ii) at its option repairing and re-installing defective components of the BOP Equipment or delivering necessary replacement Parts and
    installing such Parts.

   

  	2.7	
          Extra Work

        

   

  	2.7.1	
          Subject to Owner’s prior written approval, Contractor shall furnish Parts and services needed in the following circumstances, each of the following shall exclusively constitute the provision of Extra Work under this Agreement:

        

   

  	

        	(a)	
          Facility modifications to improve the performance of the Facility;

        

   

  	

        	(b)	
          To permanently modify or change the Facility or the Site, as necessary in order to perform any maintenance or other work on BOP Equipment required to be performed by Contractor and provided the Contractor has no other means to perform its
            obligations pursuant to this Agreement;

        

   

  
    20

    
      

  

  	

        	(c)	
          For BOP Equipment damaged by an Excluded Event which assessment may be performed by the Facility Work Force, to assess the condition of the relevant BOP Equipment; and regardless of such assessment being performed by the Facility Work Force,
            to correct the corresponding damage;

        

   

  	

        	(d)	
          To perform major repair on or replacement of an Inspect Only Component;

        

   

  	

        	(e)	
          To implement additional work, that Contractor is required to perform pursuant to other sections of this Article 2, arising from new or revised recommendations from manufacturers of BOP Equipment after the Contract Effective Date. For
            avoidance of doubt, if Contractor has specifically reviewed and have documented the BOP equipment manufacturer maintenance recommendations prior to the Effective Date, Contractor will not be entitled to charge Extra Work;

        

   

  	

        	(f)	
          Subject to the provisions of Section 2.16.1, to assess the condition of, and to correct and address property damage to the Covered Unit and BOP Equipment;

        

   

  	

        	(g)	
          To repair or replace all equipment, components, material, systems, piping, conduit, structures, located underground without permanent access;

        

   

  	

        	(h)	
          To repair or replace all foundations;

        

   

  	

        	(i)	
          Subject to Owner’s determination, to remedy defects on BOP Equipment covered by or arising from a warranty under the EPC Contract or arising from parts and/or services provided or performed by parties other than the Contractor or Contractor
            subcontractors acting under this Agreement;

        

   

  	

        	(j)	
          Subject to Owner’s determination, to complete Punch List items; and

        

   

  	

        	(k)	
          Additional services and parts as a consequence of an Assumption Violation.

        

   

  Should Owner fail to approve within a reasonable time the performance of the necessary Extra Work, Owner will bear the impact in the Facility performance and maintenance costs resulting from its
    untimely approval.

   

  	2.7.2	
          The price for Extra Work shall be defined as per Time and Material Rates, provided that in any case the following shall apply:

        

   

  	

        	(a)	
          For services to be performed in the Facility by the Facility Work Force, the rates defined in Exhibit Q;

        

   

  
    21

    
      

  

  	

        	(b)	
          For all other services to be performed in the Facility by other personnel of Contractor than the Facility Work Force, the rates defined in Exhibit Q less a discount of 10%;

        

   

  	

        	(c)	
          For all new Parts, materials and subcontracted labor and Services, including craft labor, subcontracted by Contractor to third parties, as shown by invoices for the same, and which values are not already included in Exhibit Q or Time and
            Material Rates, then the applicable price shall be the amount paid by Contractor with a markup of seven and half per cent (7.5%) of such net invoices (prior to apply of taxes); or

        

   

  	

        	(d)	
          For refurbished Parts, the standard market price, taking in consideration the lifespan of the relevant refurbished Part.

        

   

  	2.7.2.1	
          The Parties acknowledge and agree that in order to implement tax optimization, Owner may choose to proceed with direct invoicing, therefore contracting directly suppliers of Parts that have been selected and appointed by Contractor, in which
            case, the markup of seven and half per cent (7.5%) referred in item (b) of the definition of Time & Material Rates will not be charged by Contractor. Contractor will be an intervening-party to such supply contract entered between Owner and
            Contractor’s supplier and Contractor will manage the delivery of such Parts (“Parts Directly Purchased by Owner”).

        

   

  	2.8	
          Facility Manager

        

   

  As part of Contractor’s management of performance of this Agreement, commencing on or before the Commercial Operation Date and continuing through the Term of the Agreement, Contractor will designate
    for this Agreement one or more individual(s), from time to time, each of whom shall function as and be denominated the “Facility Manager”. The Facility Manager will serve as a contact point for Owner for matters respecting this Agreement. Other
    Contractor personnel and performance support methods may also be utilized by Contractor in connection with performance of this Agreement.

  Contractor is not entitled to replace the Facility Manager without Owner’s previous consent, which shall not be unreasonably withheld. Notwithstanding the foregoing, Contractor undertakes to substitute
    the Facility Manager at no cost in the event Owner requests such substitution on justified grounds.

   

  	2.9	
          Administrative Services

        

   

  During the Operation Phase, Contractor will:

   

  
    22

    
      

  

  	

        	(a)	
          Maintain a Facility Work Force in sufficient numbers and with the required expertise to undertake all Contractor’s obligations;

        

   

  	

        	(b)	
          Create and keep records of the Facility’s operation and maintenance under this Agreement, retaining such digital records for the lesser of (i) the period required by law or (ii) expiry or termination of this Agreement, and turning such
            records over to Owner in accordance with Section 2.15;

        

   

  	

        	(c)	
          As reasonably requested by Owner and/or financial institutions with an interest in the Facility, provide access, information, data, copies of Facility operation and maintenance records kept by Contractor at the Facility, periodical reports
            detailing at least Facility power output, availability, fired hours, fuel consumption, and any other information that may be reasonably required;

        

   

  	

        	(d)	
          As reasonably requested by Owner and/or environmental authorities, provide access, information, data, copies of Facility operation and maintenance records kept by Contractor at the Facility, periodical reports detailing the compliance with
            applicable environmental standards and restrictions (condicionantes) thereof;

        

   

  	

        	(e)	
          Conduct health and safety audits of the Facility in accordance with Contractor’s policies and procedures;

        

   

  	

        	(f)	
          Conduct environmental and safety training for the Facility Work Force in accordance with Contractor’s policies and procedures;

        

   

  	

        	(g)	
          Subject to mutual agreement of the Parties and conditioned upon timely receipt of information from Owner, establish the Production Plan for the next Calendar Year approximately three (3) months prior to the commencement of each Calendar
            Year. However, if the Parties do not agree on the Production Plan, Owner’s decision shall prevail as long as Contractor shall not be liable for the effects of any unreasonably determination by Owner as remarked in writing by Contractor under
            the relevant Production Plan. For the purpose of this provision a determination by Owner materially contradicting Good Industry Practice and/or the manufacturer’s written operation and maintenance specifications will be deemed as an
            unreasonable determination;

        

   

  	

        	(h)	
          Establish and operate a sub-contractor selection, control and supervision procedure in accordance with Contractor’s policies and procedures, provided that Owner will be entitled to reject any sub-contractor, if 0) such sub-contractor and/or
            any of Affiliates has been for the past 5 (five) years on a claim, materialized controversy, arbitration or judicial procedure in opposite side than Owner and/or Owner’s Affiliate; and/or (ii) such sub-contractor is not  financially and/or
            technically fit for the relevant scope. In any case, Owner will endeavor its best efforts to present to Contractor any restriction it may have against potential sub-contractor so as not to impair or delay Contractor’s contracting procedures;

        

   

  
    23

    
      

  

  	

        	(i)	
          Establish and operate a management of change system for Facility documentation in accordance with the Operation and Maintenance Procedures;

        

   

  	

        	(j)	
          Update the Operation and Maintenance Procedures as necessary;

        

   

  	

        	(k)	
          Conduct all procurement services required to fulfill the obligations under this agreement for the duration of the Agreement;

        

   

  	

        	(1)	
          Provide center of excellence support for Facility operation and maintenance under this Agreement; and

        

   

  	

        	(m)	
          Contractor to bear all costs related to the purchase of materials, services and subcontractors associated with the Facility operation and maintenance in accordance to the Agreement.

        

   

  	2.10	
          Operation Services

        

   

  During the Operation Phase, Contractor will do the following for the Commercial Operation Date, undertaking the Contractor all costs related thereto:

   

  	

        	(a)	
          Track completion of the Punch List;

        

   

  	

        	(b)	
          Carry out operation of the Facility to supply electricity and steam, as applicable, in reference to the Operation and Maintenance Procedures, Production Plan and the Plan of Daily Operation;

        

   

  	

        	(c)	
          Continuously observe and record Facility operating data;

        

   

  	

        	(d)	
          Conduct frequent and regular in house chemical analysis of process water, emissions, effluents and steam and monitor gas chromatograph data from the DCS;

        

   

  	

        	(e)	
          Log and investigate any observed defects, deficiencies, and irregularities relating to the Facility;

        

   

  	

        	(f)	
          For any such defects that have a material detrimental effect on performance and/or safety of the Facility, Contractor shall provide and execute a corrective action plan in accordance with the Agreement;

        

   

  
    24

    
      

  

  	

        	(g)	
          Implement a Facility work safety system in accordance with the Safety Program;

        

   

  	

        	(h)	
          Record and track all maintenance work requests in computerized CMMS;

        

   

  	

        	(i)	
          Record maintenance services and spare parts used for each CMMS maintenance request;

        

   

  	

        	(j)	
          Maintain adequate consumables and spare parts inventory to perform daily operation and maintenance;

        

   

  	

        	(k)	
          Contractor will be responsible for receiving and properly storing Parts and consumables at the Facility during the Term. Owner will have full access privileges to all storage facilities;

        

   

  	

        	(l)	
          Undertake regular coordination and planning between maintenance and operational activities;

        

   

  	

        	(m)	
          Establish procedures and maintain records of dispatch instructions, notices, receipts, and confirmations;

        

   

  	

        	(n)	
          As reasonably requested by Owner, and acting as Owner’s agent if so expressly requested by Owner, prepare and submit forecasts of electricity generation to such government agencies or other relevant authorities as identified by Owner in the
            form and frequency required by agencies and/or as mutually agreed by the Parties;

        

   

  	

        	(o)	
          As reasonably requested by Owner, and acting as Owner’s agent, prepare and submit forecasts of fuel consumption to such fuel supplier(s) as identified by the Owner in the form and frequency as mutually agreed by the Parties;

        

   

  	

        	(p)	
          Respond to emergency event(s) at the Facility in accordance with the Operation and Maintenance Procedures;

        

   

  	

        	(q)	
          Provide outage management planning and coordination with CSA Contractor as per Section 2.4;

        

   

  	

        	(r)	
          Operate the Facility in compliance with applicable laws, regulations, permits and licenses; and

        

   

  	

        	(s)	
          Open and close substation circuit breaker and disconnectors exclusively from the Facility distributed control system under the direct written instruction of Owner. Contractor shall not be liable for any consequence arising from such
            operation, to the extent Contractor does not deviate from such Owner instruction. Contractor shall perform the de-energization and lockout tag-out up to the terminal points in Exhibit C.

        

   

  
    25

    
      

  

  	2.11	
          Routine Maintenance

        

   

  During the Operation Phase, Contractor will for all Facility equipment perform Routine Maintenance as defined herein:

   

  	

        	(a)	
          The minor maintenance to be periodically performed by the Facility Work Force to keep the Facility in general day to day working order, including, but not limited to, operational inspection, consumables, lubrication, calibration, adjustment,
            packing of valves, minor leak repair, provision of fluids, greases and resins, cleaning of sumps, installation of replacement consumables, filters, strainers and cartridges, maintenance or replacement of sensors, fuses, thermocouples, gauges,
            switches and light bulbs, touchup painting, general housekeeping and cleaning of the Facility, minor repairs to Inspect Only Components as per Exhibit B (all the forgoing, “Routine Maintenance Services”); and

        

   

  	

        	(b)	
          The supply of new or refurbished Part, equipment, consumable, including but not limited to, filters, bolts, gaskets, fuses, switches, small pipe and valves used by Contractor on a routine basis in the maintenance of the Facility which are
            installed as part of the Routine Maintenance Services, provided that in any case each new or refurbished Part, equipment, consumable that does not exceed thirty-five thousand Brazilian Reais (R$ 35,000.00) shall be determined in accordance with
            the Time and Material Rates.

        

   

  	2.12	
          Use of New Technology

        

   

  Contractor may utilize new technology (improved Parts that are not generally commercially available on the Contract Effective Date) in the performance of maintenance to enhance Facility performance
    and/or improve the Facility maintenance/part intervals and/or maintenance spend.

   

  In addition, as part of the services provided, Contractor shall undertake or apply inspections, techniques, monitoring and/or analyses (including, without limitation, Condition-Based Maintenance)
    consistent with the Good Industry Practices or advances in such practices, to (i) optimize outage intervals; (ii) minimize outage hours; (iii) optimize Parts usage, and/or (iii) optimize work scopes and maintenance activities. The use of new
    technology, when implemented by Contractor at Contractor option, will not be deemed as an Extra Work.

   

  
    26

    
      

  

  	2.13	
          Use of Commercially Available Technology

        

   

  Contractor shall use reasonable efforts to inform Owner if a type of Part to be repaired or replaced by Contractor during its performance of this Agreement (a “Current Part”) is commercially
    available from Contractor in an upgraded design (an “Upgraded Part”). If the Current Part and the Upgraded Part are both generally made available for sale by Contractor at the date of supply under this Agreement, Contractor may elect to supply
    either the Current Part or the Upgraded Part, provided that if the Upgraded Part is supplied, it shall be supplied at no additional cost to Owner. If the Current Part is not generally made available for sale by Contractor at the date of supply and an
    Upgraded Part is so available, Contractor shall supply the Upgraded Part at no additional cost to Owner. If the Current Part and the Upgraded Part are both generally made available for sale by Contractor at the date of supply and Owner elects to
    instruct Contractor to use the Upgraded Part, at the Owner’s written request, Contractor shall supply the Upgraded Part and Owner shall pay (i) any difference between the Time and Material Rates price of the Upgraded Part and the Time and Material
    Rates price of the Current Part it is replacing and (ii) any incremental cost or loss incurred by Contractor as a result of utilizing the Upgraded Part including, without limitation, any detrimental impact upon the Guaranteed Performance Commitment,
    provided in any case that Contractor has clearly and expressly informed Owner in advance of such detrimental impact or losses.

   

  	2.14	
          Use of Certain Refurbished Parts

        

   

  In performance of its scope of work under this Agreement, Contractor may use parts that have been previously installed at a power generation facility other than the Facility and subsequently
    refurbished by Contractor.

   

  Contractor shall be entitled to supply refurbished Parts as long as: (i) such Parts will be warranted similarly to new Parts in accordance with Article 8 (Warranty); and (ii) Contractor will provide to
    Owner Parts pedigree (taking into consideration possible restrictions due to confidentiality obligations with regards to Parts origin), provided that Owner shall have the right to refuse the installation provided however that consent shall not be
    unreasonably withheld.

   

  	2.15	
          Demobilization

        

   

  On the date of expiration or earlier termination of this Agreement, Contractor’s obligations under this Article 2 of this Agreement shall end and Owner shall assume all responsibility regarding the
    Facility, including all operational and maintenance duties. (The passing of  such responsibilities from Contractor to Owner is referred to as the “Hand Over”.)

   

  In connection with the Hand Over, Contractor shall, as reasonably possible, using the Facility Work Force perform the following:

   

  
    27

    
      

  

  	

        	(a)	
          Conduct a Facility equipment maintenance review and provide a report to Owner outlining any maintenance needs identified by the review.

        

   

  	

        	(b)	
          Provide Facility maintenance records in a mutually agreed format.

        

   

  	

        	(c)	
          Conduct a total plant inventory of all critical and maintenance spare parts, consumables, oils and chemicals, vehicles, hand and specialty tools and where practical most recent item unit price and provide a report (with preference to an
            unprotected spreadsheet) to Owner identifying the quantity and type of parts at Site or at the Repair Facility at the time of the review.

        

   

  	

        	(d)	
          Prepare a list of Contractor equipment currently on site to be removed on or before the Hand Over.

        

   

  	

        	(e)	
          Prepare a list of any software programs utilized by Contractor at the Facility relating to preventative maintenance and inventory control.

        

   

  	

        	(f)	
          To the extent that Contractor’s licenses for the software programs identified in (e) above are assignable, upon the reasonable request of Owner and subject to the terms of such license(s), transfer such license(s) to the Owner. Contractor
            will provide information regarding license(s) transfer such as transfer fees, subscription fees and contact information.

        

   

  	

        	(g)	
          Provide a list of the main subcontractors used by Contractor at the Facility (not including Affiliates of Contractor). Contractor will provide information regarding such main subcontracts such as contract amount and contact information.

        

   

  	

        	(h)	
          Terminate any Facility-specific agreement of Contractor with such subcontractors.

        

   

  	

        	(i)	
          Provide digital copies of such other non-proprietary documentation, utilized by Contractor in providing services for the Facility.

        

   

  	2.15.1	
          In the event that the Hand Over is to occur upon expiration of the Additional Term of this Agreement, 9 (nine) months prior to the date of expiration, the Parties will meet at least twice a month, and/or at a shorter periodicity as
            reasonably agreed, with the objective of achieving a smooth Hand Over.

        

   

  
    28

    
      

  

  	2.16	
          Repair of Property Damage

        

   

  To the extent that damage to the Facility is caused by Contractor, Contractor shall repair or  replace, at Contractor’s option, such damage to a limit as set below:

   

  
    	
            2.16.1

          	
            The Covered Units:

          

  

   

  For the avoidance of doubt Covered Unit property damage rights and obligations described in this Section 2.16.1 shall not apply in the event that maintenance covered under the CSA applies to damage
    arising from the same cause or occurrence.

   

  The first one million and five hundred thousand US Dollars (USD 1,500,000.00) of the price for Parts and services for each occurrence of Covered Unit property damage due to Contractor’s or
    subcontractor fault or negligence shall be borne by Contractor. This price shall be determined by the Time and Material Rates in effect at the time the work is performed (provided that in any case such price as per Time and Material rates does not
    exceed the standard market price).

   

  	2.16.2	
          The BOP Equipment

        

   

  The first one million and five hundred thousand US Dollars (USD 1,500,000.00) of the price for Parts and services for each occurrence of BOP Equipment property damage due to Contractor’s or
    subcontractor fault or negligence shall be borne by Contractor. This price shall be determined by the Time and Material Rates in effect at the time the work is performed (provided that in any case such price as per Time and Material rates does not
    exceed the standard market price).

   

  	2.16.3	
          The price for parts and services for correction of Covered Unit property damage and BOP Equipment property damage that exceeds any of the foregoing amounts stated, respectively, in Sections 2.16.1 and 2.16.2 shall be invoiced as Extra Work
            at the Time and Materials Rates in effect at the time the work is performed. However, nothing in Sections 2.16.1 and 2.16.2 will prejudice Contractor’s obligation to repair the damage in full, should any of the exclusions to limitation of
            liability caps provided for in Section 9.1 be applicable, in which case, no repair will be invoiced by Contractor as Extra-Work.

        

   

  	2.17	
          GE Digital Software Solutions

        

   

  In order to assist Contractor in its performance of this Agreement, Contractor will utilize a GE Digital Software Solutions, in accordance with the terms of Exhibit O, to monitor the Facility and/or
    its equipment and/or assist Contractor in its performance under this Agreement.

   

  
    29

    
      

  

  	2.18	
          Use of Parts

        

   

  For Routine Maintenance and Planned Maintenance: Contractor will bear the costs of such Parts up to the threshold per each Part of thirty-five thousand Brazilian  Reais (R$ 35,000.00) as provided for
    Section 2.11(b), and Owner will bear the costs for each Parts which individual cost exceeds such thirty-five thousand Brazilian Reais (R$ 35,000.00) as provided for Section 2.11(b).

   

  For Unplanned Maintenance: Contractor will bear the costs of such Parts up to the threshold per event as provided for Sections 2.6.1 and 2.6.2, and Owner will bear the costs exceeding such threshold
    for event.

   

  Contractor will also be entitled to make use of Parts kept in inventory, in which case the cost of replenishing of the relevant Parts will observe the preceding paragraphs of this Section 2.18.

   

  	2.19	
          Assumption Violation

        

   

  Assumption Violation(s) will only entitle Contractor to (a) reduce the Guaranteed Performance Commitment to the extent such Guaranteed Performance Commitment is directly and proven affected by the
    Assumption Violation;  and/or (b) to charge additional  services and additional Parts as Extra-Work as per Section 2.7. The Parties acknowledge and agree that the Assumption Violation of the Assumption set forth by item (iii) of Exhibit J will have as
    its sole consequences the reducing of the Guaranteed Performance Commitment as per the relevant spreadsheet in Exhibit G and that the Parties will negotiate in good faith a new cash flow for this Agreement.

   

  For avoidance of doubt, up to the one hundred and twenty-thousand FFH indicated as an Assumption in item (iii) of Exhibit J, the Pre-Mobilization Fee; the Mobilization Fee; the Additional Mobilization
    Fee; the BOP Equipment ISP Fee; the Monthly Fixed Fee; the unitary value of FFH applicable for calculating the Variable Monthly Fee; the Planned Maintenance Event Fee and the unitary prices referred in Exhibits Q will remain unchanged.

   

  ARTICLE 3: OWNER RESPONSIBILITIES

   

  	3.1	
          Owner shall pay for any payment not reasonably disputed in good faith owed to Contractor, as per this Agreement.

        

   

  	3.2	
          Owner’s responsibilities include the following:

        

   

  	

        	(a)	
          Owner shall propose their desired Owner’s Requirements and propose updates from time to time as necessary;

        

   

  	

        	(b)	
          From the Commercial Operation Date, Owner shall allow Contractor to use in the performance of its obligations under the Agreement (i) the Initial Spare Parts as delivered by Contractor, (ii) the Operational Spare Parts for the Covered Units
            as supplied by the CSA Contractor, and (iii) any special tools and spare parts provided under the EPC Contract that are available;

        

   

  

  
    30

    
      

  

  	

        	 (c)	
          Owner shall provide access to the Facility Work Force so that such personnel may attend to training sessions provided by the EPC Contractor or vendors under the EPC Contract;

        

   

  	

        	(d)	
          Owner shall provide Contractor with a copy of the written Punch List with a status of all open items on or prior to the Commercial Operation Date;

        

   

  	

        	(e)	
          Owner shall appoint an individual, who shall function as and be denominated Owner’s representative (the “Owner’s Representative”). The individual serving as Owner’s Representative may change from time to time during the Term provided
            that Owner will have an individual at all times serving such a role;

        

   

  	

        	(f)	
          The Owner’s Representative (i) shall be designated to consult and coordinate with Contractor’s personnel on matters related to Contractor’s work scope; (ii) will be available to such an extent so as not to unreasonably delay performance of
            Contractor’s work scope; and (Hi) shall have the authority to make day-to-day decision on behalf of Owner in relation to the usual operation and maintenance of the Facility.

        

   

  	

        	(g)	
          Except for the EPC Contractor and the CSA Contractor, Owner’s Representative shall, among other responsibilities, have the responsibility of notifying Contractor in advance of and coordinating activities between Contractor and other
            contractors not under Contractor’s control at the Facility. If anticipated activity of such contractors may impact Contractor’s performance under this Agreement, Owner’s Representative and Contractor shall mutually agree on the time and methods
            of the other contractor’ activity at or with respect to the Facility or the Site prior to other contractors commencing the activities;

        

   

  	

        	(h)	
          Owner shall provide Contractor access to manuals, drawings, equipment tag lists, operation and maintenance procedures and recommendations, safety information, and other documentation relevant to Contractor’s obligations, delivered to Owner
            by any source regarding the Facility, Site, or any equipment or systems at the Facility or Site;

        

   

  	

        	(i)	
          Owner shall file, obtain, maintain and provide a copy to Contractor of all authorizations, registrations, exemptions, permits and licenses and any updates thereof, required to lawfully own and operate the Facility, and that permit the
            on-Site performance of Contractor’s obligations under this Agreement, other than those required under law to be filed or held by Contractor in its name in order for Contractor to generally conduct business and employ personnel in the applicable
            jurisdiction;

        

   

  

  
    31

    
      

  

  	

        	(j)	
          Owner shall provide the Plan of Daily Operation and inputs to the Production Plan.

        

   

  	

        	(k)	
          Owner shall provide access to the Facility and parts at the Facility on and after the Contract Effective Date as reasonably required by Contractor;

        

   

  	

        	(l)	
          Owner shall promptly provide copies of all Facility and Site environmental, health and safety reviews, assessments, statements, reports, notifications from agencies and studies, and any updates or revisions thereof, relevant to performance
            of Contractor’s obligations under this Agreement. Contractor’s obligations, if any, arising from such reviews, assessments, statements, and studies, must be established through the Owner’s Requirements;

        

   

  	

        	(m)	
          Owner shall provide information on its safety procedures relevant to Contractor’s performance under this Agreement;

        

   

  	

        	(n)	
          Owner shall provide adequate and suitable lay down space, with utility connection and hard standing surface, as per the division of work in Exhibit I;

        

   

  	

        	(o)	
          Owner shall supply within the Facility: (i) a maintenance shop and a laboratory, including all the required equipment, (ii) adequate warehouse space, (iii) toilet and washroom facilities and (iv) temporary office and facilities per the
            division of work in Exhibit I;

        

   

  	

        	(p)	
          Owner shall arrange and provide for adequate climate control, lighting, communication, connectivity, and utility services (such as water/sewer services, water/waste treatment, and electricity) for the Facility per the division of work in
            Exhibit I;

        

   

  	

        	(q)	
          Owner shall provide Site security in accordance with Article 12 (Health, Safety and Security) and Exhibit I;

        

   

  	

        	(r)	
          Owner shall provide Incoming Fuel and water in such quantities and quality as required for operation and maintenance of the Facility;

        

   

  	

        	(s)	
          Owner shall arrange for and conduct the business of sale of energy generated by the Facility;

        

   

  	

        	(t)	
          Owner shall be responsible for all contracting and relations with fuel suppliers, Owner’s customers, utility suppliers, and other Owner suppliers;

        

   

  
    32

    
      

  

  	

        	(u)	
          Except for permits to be obtained by Contractor per Sections 2.3 (p) and 3.2 (i), Owner shall manage the relationships and conduct the interactions and communications with all governmental, regulatory and community bodies, agencies and
            groups regarding the Facility and Site, and work to be performed on the Site, including without limitation, approving, signing and submitting all required or desirable reports, certifications, applications and other documents. Without limiting
            the generality of the foregoing, Owner shall report as required by applicable laws, regulations and permits any exceedance of the limits under any permit related to the Facility. Upon Owner’s reasonable request, Contractor may, from time to
            time assist the Owner in preparation of such documents by furnishing Facility data or information in Contractor’s possession at the Site; and

        

   

  	

        	(v)	
          Owner shall provide the Facility and the Site free and clear of all toxic substances and Hazardous Materials, other than those materials required for the Facility operation (and/or as otherwise provided for under this Agreement) and
            contained in a manner compliant with all safety and environmental regulations and applicable laws.

        

   

  	3.3	
          Owner agrees that all parts, materials and services, other than Parts delivered by Contractor under this Agreement, that it provides or makes available to Contractor in connection with this Agreement shall be free from defects in materials
            and workmanship  and performed in a competent, diligent manner, except for the following:

        

   

  	

        	(a)	
          those provided by the EPC Contractor and/or the CSA Contractor; and/or

        

   

  	

        	(b)	
          Parts Directly Purchased by Owner.

        

   

  	3.4	
          Owner’s Default

        

   

  To the extent Owner’s failure to perform its obligations under this Agreement proven and directly affects Contractor’s ability to perform Contractor’s obligations under this Agreement, Contractor will
    not be held liable for the corresponding direct impact on the performance of Contractor’s obligations and will be entitled to claim for the evidenced costs resulting from such Owner’s failure.

   

  ARTICLE 4: TERM AND TERMINATION

   

  	4.1	
          Term

        

   

  This Agreement shall become effective on the Contract Effective Date and shall expire, unless sooner terminated in accordance with the provisions of this Agreement, upon the first to occur of the
    following:

   

  
    33

    
      

  

  [OPTION A]

  	

        	(a)	
          Sixteen (16) years from the Commercial Operation Date; or

        

   

  	

        	(b)	
          Twenty-one (21) years from the Effective Date.

        

   

  or

   

  [OPTION B]

  	

        	(a)	
          Twenty-five (25) years from the Commercial Operation Date; or

        

   

  	

        	(b)	
          Thirty (30) years from the Effective Date.

        

   

  	4.1.1	
          The “Term” is the time from the Contract Effective Date to expiration or earlier termination. References to the “Additional Term” mean the time until expiration as described  above rather than an earlier termination.

        

   

  	4.1.2	
          Up to twenty (20) months prior to Commercial Operation Date, Owner will choose, at its sole discretion, whether it will follow Option A or Option B for the Term of this Agreement. If Owner chooses to implement Option B, the relevant CSA fees
            will be decreased as provided under the CSA Contract. Furthermore, the payments that will be due from Owner to Contractor under this Agreement will follow either relevant Option A or Option B, as provided for in Article 5 (Payments), depending
            on Owner’s choice for the Term.

        

   

  	4.2	
          Termination

        

   

  	4.2.1	
          Termination for Default and/or Insolvency

        

   

  	4.2.1.1	
          Either Party (the “Non-Defaulting Party”) may terminate this Agreement if the other Party (the “Defaulting Party”) (i) becomes Insolvent or (ii) the Defaulting Party commits a material breach of this Agreement and fails to cure
            the breach within thirty (30) days of notice from the Non-Defaulting Party, or if it is not possible to cure such breach within thirty (30) days of such notice, fails to commence to cure the breach within thirty (30) days or fails to thereafter
            continue diligent efforts to complete the cure as soon as reasonably possible. Failure to make a payment required by Article 5 (Payments) of this Agreement is a material breach.

        

   

  	4.2.1.2	
          In the case of termination for default and/or insolvency pursuant to Section 4.2.1.1 the Defaulting Party shall pay the Non-Defaulting Party the Termination Amount specified in Section 4.2.7. In addition, all payments required under this
            Agreement for Contractor’s performance prior to the effective date of such termination and all payments due prior to such termination date shall also be paid in accordance with this Agreement.

        

   

  
    34

    
      

  

  	4.2.1.3	
          The foregoing specified in this Section 4.2.1 shall be the sole and exclusive rights and liabilities of the Non-Defaulting Party and Defaulting Party, respectively, on account of termination for default and/or Insolvency and the breach
            giving rise to such termination.

        

   

  	4.2.2	
          If this Agreement is terminated on account of an Excusable Event in accordance  with Section 19.2, Owner shall pay to Contractor(i) all payments due prior to such termination date and (ii) Contractor’s demobilization costs including any
            severance packages for the Facility Work Force as reasonably incurred by Contractor. In the event this Agreement is terminated on account of an Excusable Event in accordance with Section 19.2, payment of the Termination Amount specified in
            Section 4.2.7 is not required.

        

   

  	4.2.3	
          Should the EPC Contract be terminated by whatever reason and regardless of Owner’s and/or EPC Contractor’s default thereto, either Patty will be entitled to terminate this Agreement upon notice to be served to the other Party no later than
            six (6) months counted as from the effective termination of the EPC Contract. In the event this Agreement is terminated as per this Section 4.2.3, Owner shall pay to Contractor all not reasonably disputed in good faith payments that were due up
            to such termination, but no Termination Amount will be due.

        

   

  	4.2.4	
          Should the CSA Contract be terminated by whatever reason and   regardless of Owner’s and/or CSA Contractor’s default thereto, Owner will be entitled to terminate this Agreement upon notice to be served to the other Party no later than six
            (6) months counted  as from  the  effective termination of the CSA Contract. In the event this Agreement is terminated as per this Section  4.2.4, Owner shall pay to Contractor all not reasonably disputed in good faith payments that were due up
            to such termination, but no Termination Amount will be due by one Patty to the other.

        

   

  
    	
            4.2.4.1.

          	
            In the event Owner chooses to terminate this Agreement because the CSA Contract has been terminated due to Owner’s default, Owner will pay to Contractor the direct costs reasonably incurred by Contractor for
              demobilization up to a limit of five hundred thousand Brazilian Reais (R$ 500,000.00), as evidenced by Contractor.

          

  

   

  	4.2.5	
          Without prejudice to additional termination rights by Owner, this Agreement will be terminated immediately upon notice served, at any time, by Owner to Contractor, in the event  Contractor  has reached the cap of liquidated damages provided
            by Exhibit G during any 5 (five) consecutive years. Upon such termination by Owner, Contractor will solely pay for the applicable liquidated damages that has still not been paid by Contractor up to the relevant cap as provided by Exhibit G, but
            no Termination Amount will be due.

        

   

  	4.2.5.1	
          The Parties acknowledge and agree that should a single outage cause the cap for liquidated damages to be reached during 5 (five) consecutive years, Owner will not be entitled to terminate this Agreement under Section 4.2.5.

        

   

  
    35

    
      

  

  	4.2.6	
          Upon completion of the tenth (10th) year of Operation Phase and at any time thereafter, Owner will be entitled to, at its sole discretion, terminate this Agreement for its convenience by serving  a    notice to the Contractor. Should Owner
            exercise its right to terminate this Agreement by its convenience, further to not reasonably disputed in good faith payments that were due up to such termination, all that Owner will be subject to pay to Contractor is the amount determined by
            the relevant table below for the year in which the termination by convenience is effected (“Termination by Convenience Amount”). Only one of the tables below will be applied, as per Option A or Option B elected by Owner for the Term in
            accordance to Section 4.1.

        

   

  Amounts below are expressed in USD

   

  
    	 	
            O&M TERMINATION FOR

            CONVENIENCE

            OPTION A

            16 YEAR

            WINDOW OPENS @ YEAR 11

          	 	
            O&M TERMINATION FOR

            CONVENIENCE

            OPTION B

            25 YEAR

            WINDOW OPENS @ YEAR 11

          	 
	 	
            YEAR

          	
            TERMINATION AMOUNT

          	 	YEAR	
            BASE TERMINATION AMOUNT

          	 	 
	 	11

          	
            $5,792,700

          	 	11

          	
            $5,975,000

          	
            BTA 11

          	 
	 	12

          	
            $4,634,400

          	 	12

          	
            $5,000,000

          	
            BTA 12

          	 
	 	13

          	
            $3,476,100

          	 	13

          	
            $4,025,000

          	
            BTA 13

          	 
	 	14

          	
            $2,317,800

          	 	14

          	
            $3,050,000

          	
            BTA 14

          	 
	 	15

          	
            $1,159,500

          	 	15

          	
            $2,075,000

          	
            BTA 15

          	 
	 	16

          	
            $0

          	 	16

          	
            $1,100,000

          	
            BTA 16

          	 
	 	 	 	 	17

          	
            $978,600

          	
            BTA 17

          	 
	 	 	 	 	18

          	
            
              $856,400

            

          	
            BTA 18

          	 
	 	 	 	 	19

          	
            
              $734,200

            

          	
            BTA 19

          	 
	 	 	 	 	20

          	
            
              $612,000

            

          	
            BTA 20

          	 
	 	 	 	 	21

          	
            
              $489,800

            

          	
            BTA 21

          	 
	 	 	 	 	22

          	
            
              $357,600

            

          	
            BTA 22

          	 
	 	 	 	 	23

          	
            
              $245,400

            

          	
            BTA 23

          	 
	 	 	 	 	24

          	
            
              $123,200

            

          	
            BTA 24

          	 
	 	 	 	 	25

          	
            $0

            

          	
            BTA 25

          	 
	 	 	 	 	
            

            

            FORMULA FOR CALCULATING THE OPTION B 25y TERMINATION AMOUNT (TA)

             

            TAk = BTAk + l x ($4,400,000 x (AFHk/75,000)) + D x ($4,400,000 x (120,000 - AFHk)/120,000)

            TAk = Termination Amount on year k

             

            BTAk = Base Termination Amount on year k according to above table

             

            AFHk = (the sum of the accumulated FFH on all gas turbine Covered Units) / 3 on year k

             

            k = 11 to 25

             

            l = 1 if AFHk <= 75,000 ; l = 0 if AFHk >75,000

            D = 1 if AFHk > 75,000 ; D = O if AFHk <= 75,000

            0 <= AFHk <= 120,000

          

  

   

  

  
    36

    
      

  

  4.2.6.1. The Termination by Convenience Amount shall be the sole and exclusive right of Contractor and the sole and exclusive liability of Owner, on account of Owner’s termination by convenience
    pursuant to Section 4.16.

   

  	4.2.7	
          The Defaulting Party, giving cause to  the  termination, shall pay to the other Party a pre-established amount as liquidated damages applicable to the relevant year of termination as reflected in the below table (the “Termination Amount”).
            The Termination Amount will follow either relevant Option A or Option B, as provided for in Article 5 (Payments), depending on Owner’s choice for the Term. In no event one Party will be entitled to charge both Option A and Option B as
            Termination Amount.

        

   

  In any event that the Termination Amount in accordance with this Article 4 is due, it shall be the sole and exclusive rights and liabilities of the Non-Defaulting Patty and Defaulting Party,
    respectively, on account of termination for default and/or Insolvency and/or such other cause for termination and/or the breach giving rise to such termination.

   

  [OPTION A – Term of this Agreement corresponding to 16 (sixteen) years]

   

  	
          From Contract Effective Date

        
	
          2017

        	
          1

        	
          R$ 0

        	
          PRE MOB

        
	
          2018

        	
          2

        	
          R$ 0

        
	
          2019

        	
          3

        	
          R$ 14’500’000

        	
          MOB

        
	
          2020

        	
          4

        	
          R$ 13’300’000

        	
          OPS

        
	
          2021

        	
          5

        	
          R$ 12’100’000

        
	
          2022

        	
          6

        	
          R$ 10’900’000

        
	
          2023

        	
          7

        	
          R$ 10’200’000

        
	
          2024

        	
          8

        	
          R$ 9’400’000

        
	
          2025

        	
          9

        	
          R$ 8’600’000

        
	
          2026

        	
          10

        	
          R$ 7’800’000

        
	
          2027

        	
          11

        	
          R$ 7’000’000

        
	
          2028

        	
          12

        	
          R$ 6’000’000

        
	
          2029

        	
          13

        	
          R$ 5’100’000

        
	
          2030

        	
          14

        	
          R$ 4’300’000

        
	
          2031

        	
          15

        	
          R$ 3’400’000

        
	
          2032

        	
          16

        	
          R$ 2’600’000

        
	
          2033

        	
          17

        	
          R$ 1’700’000

        
	
          2034

        	
          18

        	
          R$ 1’500’000

        
	
          2035

        	
          19

        	
          R$ 1’500’000

        

  Or

   

  
    37

    
      

  

  [OPTION B - – Term of this Agreement corresponding to 25 (twenty-five) years]

   

  	
          From Contract Effective Date

        
	
          2017

        	
          1

        	
          R$ 0

        	
          PRE MOB

        
	
          2018

        	
          2

        	
          R$ 0

        
	
          2019

        	
          3

        	
          R$ 14’500’000

        	
          MOB

        
	
          2020

        	
          4

        	
          R$ 13’300’000

        	
          OPS

        
	
          2021

        	
          5

        	
          R$ 12’100’000

        
	
          2022

        	
          6

        	
          R$ 12’100’000

        
	
          2023

        	
          7

        	
          R$ 10’900’000

        
	
          2024

        	
          8

        	
          R$ 10’900’000

        
	
          2025

        	
          9

        	
          R$ 10’200’000

        
	
          2026

        	
          10

        	
          R$ 10’200’000

        
	
          2027

        	
          11

        	
          R$ 9’400’000

        
	
          2028

        	
          12

        	
          R$ 9’400’000

        
	
          2029

        	
          13

        	
          R$ 8’600’000

        
	
          2030

        	
          14

        	
          R$ 8’600’000

        
	
          2031

        	
          15

        	
          R$ 7’800’000

        
	
          2032

        	
          16

        	
          R$ 7’800’000

        
	
          2033

        	
          17

        	
          R$ 7’000’000

        
	
          2034

        	
          18

        	
          R$ 7’000’000

        
	
          2035

        	
          19

        	
          R$ 6’000’000

        
	
          2036

        	
          20

        	
          R$ 6’000’000

        
	
          2037

        	
          21

        	
          R$ 5’100’000

        
	
          2038

        	
          22

        	
          R$ 5’100’000

        
	
          2039

        	
          23

        	
          R$ 4’300’000

        
	
          2040

        	
          24

        	
          R$ 3’400’000

        
	
          2041

        	
          25

        	
          R$ 2’600’000

        
	
          2042

        	
          26

        	
          R$ 1’700’000

        
	
          2043

        	
          27

        	
          R$ 1’500’000

        
	
          2044

        	
          28

        	
          R$ 1’500’000

        

   

  	4.2.6	
          The Parties agree that the damages likely to be incurred by a Non-Defaulting Party or non-terminating Party in the event of termination will be difficult to measure, that the Termination Amount is reasonable, and that the Termination Amount
            shall be paid as liquidated damages in lieu of all such actual damages and not as a penalty.

        

   

  	4.2.7	
          Obligations Prior to Termination

        

   

  Except as set forth in Section 19.3, termination or expiration of this Agreement shall not relieve either Party of any obligation arising out of work performed prior to termination.

   

  ARTICLE 5: PAYMENTS

   

  	5.1	
          Owner shall make all undisputed payments referred in this Article within thirty (30) days of Contractor’s invoice, without deduction or set-off, unless as otherwise expressly provided for herein.

        

   

  
    	
            5.2

          	
            For avoidance of doubt, all prices to be invoiced by Onshore Services Contractor and paid by Owner include the following taxes: PIS = 1.65%, CORNS = 7.6% and ISS = 5%. Any  increase in such rates shall entitle
              Contractor to gross up the balance and any decrease (or concession of  tax benefits decreasing such rates) shall entitle Owner to offset the positive balance from future invoices.

          

  

   

  
    38

    
      

  

  	5.3	
          The Parties acknowledge and agree that, depending on Owner’s choice for the Term and/or Additional Term, as provided for in Section 4.1.1, the payments that Owner will make to Contractor will be different. In that sense, the references to
            Option A or Option B in this Article  5 indicate which value will be charged from Contractor in relation to each scope of work. In no event Contractor will be entitled to charge both Option A and Option B.

        

   

  	5.4	
          Fees

        

   

  In consideration of the work scope as described in this Agreement, Owner shall pay the following fees:

   

  	5.4.1	
          Pre-Mobilization Fee

        

   

  	5.4.2	
          For the Pre-Mobilization services provided by Contractor, on the last day of Pre-Mobilization Phase, Contractor shall invoice a single fee (“Pre-Mobilization Fee”), at one (01) instalment:

        

   

  [OPTION A – (Agreement’s Term corresponding to 16 years)]

  [***] Brazilian Reais (R$ [***])

   

  or

   

  [OPTION B – (Agreement’s Term corresponding to 25 years)]

  [***] Brazilian Reais (R$ [***])

   

  
    	
            5.4.3

          	
            Mobilization Fee

          

  

   

  For the Mobilization Services provided by Contractor, Contractor shall invoice the total amount described below (“Mobilization Fee”), which will be divided in 12 (twelve) equal instalments, each
    to be invoiced monthly, on or about the fifth day of the Mobilization Phase and on or about the fifth of each month thereafter.

   

  [OPTION A – (Agreement’s Term corresponding to 16 years)]

  [***] Brazilian Reais (R$ [***]).

   

  or

   

  
    39

    
      

  

  [OPTION B - – Term of this Agreement corresponding to 25 (twenty-five) years]

  [***] Brazilian Reais (R$ [***])

   

  	5.4.3.1.	
          In the event that the Operation Phase commences less than twelve (12) months after the commencement of the Mobilization Phase, Contractor shall be entitled to immediately  invoice the remaining balance of the Mobilization Fee, so as to reach
            the overall amount indicated in Option A or Option B of Section 5.4.3, whichever applicable.

        

   

  	5.4.3.1.2	
          Should the Mobilization Phase be extended due to Owner’s fault, Owner will pay a monthly value of [***] Brazilian Reais (R$ [***]) for each month in addition to the 12 (twelve) month period of the Mobilization Phase (“Additional
              Mobilization Fee”). The Additional Mobilization Fee will be prorated for any period less than a month. For avoidance of doubt, should the Mobilization Phase be extended due to EPC Contractor’s delay under the EPC Contract, no Additional
            Mobilization Fee will be owed from Owner to Contractor.

        

   

  	5.4.3.2	
          BOP Equipment ISP Fee

        

   

  For the supply of Initial Spare Parts, Contractor will invoice the total amount described below (“BOP Equipment ISP Fee”).

   

  [OPTION A – Term of this Agreement corresponding to 16 (sixteen) years]

  [***] US dollars ($ [***]).

   

  Or

   

  [OPTION B - – Term of this Agreement corresponding to 25 (twenty-five) years]

  [***] US dollars ($ [***]).

   

  	5.4.3.2.1	
          Contractor will invoice the BOP Equipment ISP Fee as follows: (i)  thirty percent (30%) at the first day of the Mobilization Phase; and (ii) seventy percent (70%) upon delivery of the relevant Initial Spare Part, provided in any case that
            Contractor will  only make a single shipment per month.

        

   

  
    	
            5.4.3.2.2

          	
            Alternatively, up to 20 (twenty) months in advance to the Commercial Operational Date, Owner may choose - instead of paying for the BOP Equipment ISP Fee as provided above - to split such BOP Equipment ISP Fee
              in equal monthly instalments as per the spreadsheet provided for in this Section 5.4.3.2.2. In this specific case, Owner will present to Contractor a Letter of Credit in the amount of the BOP Equipment ISP Fee, issued by a bank with the
              Required Rating, in a form substantially similar to the model provided for in Exhibit P.

          

  

   

  
    40

    
      

  

  
   [OPTION A – Term of this Agreement corresponding to 16 (sixteen) years]

   

  	
          PORTO DE SERGIPE O&M - BOP ISP ALTERNATIVE

          FACTORING PAYMENT OPTION (IN 2017 USD) - PAYMENTS

          TO BE ESCALATED - OPTION A - 16 YEARS

        
	
          PAY #

        	
          PAYMENT DATE

        	
          QUARTERY PAYMENT AMOUNT

        
	
          1

        	
          01-Mar-20

        	
          $[***]

        
	
          2

        	
          01-Jun-20

        	
          $[***]

        
	
          3

        	
          01-Sep-20

        	
          $[***]

        
	
          4

        	
          01-Dec-20

        	
          $[***]

        
	
          5

        	
          01-Mar-21

        	
          $[***]

        
	
          6

        	
          01-Jun-21

        	
          $[***]

        
	
          7

        	
          01-Sep-21

        	
          $[***]

        
	
          8

        	
          01-Dec-21

        	
          $[***]

        
	
          9

        	
          01-Mar-22

        	
          $[***]

        
	
          10

        	
          01-Jun-22

        	
          $[***]

        
	
          11

        	
          01-Sep-22

        	
          $[***]

        
	
          12

        	
          01-Dec-22

        	
          $[***]

        

   

  [OPTION B - –Term of this Agreement corresponding to 25 (twenty-five) years]

   

  	
          PORTO DE SERGIPE O&M - BOP ISP ALTERNATIVE

          FACTORING PAYMENT OPTION (IN 2017 USD) - PAYMENTS

          TO BE ESCALATED - OPTION B - 25 YEARS

        
	
          PAY #

        	
          PAYMENT DATE

        	
          QUARTERY PAYMENT AMOUNT

        
	
          1

        	
          01-Mar-20

        	
          $[***]

        
	
          2

        	
          01-Jun-20

        	
          $[***]

        
	
          3

        	
          01-Sep-20

        	
          $[***]

        
	
          4

        	
          01-Dec-20

        	
          $[***]

        
	
          5

        	
          01-Mar-21

        	
          $[***]

        
	
          6

        	
          01-Jun-21

        	
          $[***]

        
	
          7

        	
          01-Sep-21

        	
          $[***]

        
	
          8

        	
          01-Dec-21

        	
          $[***]

        
	
          9

        	
          01-Mar-22

        	
          $[***]

        
	
          10

        	
          01-Jun-22

        	
          $[***]

        
	
          11

        	
          01-Sep-22

        	
          $[***]

        
	
          12

        	
          01-Dec-22

        	
          $[***]

        

   

  

  
    41

    
      

  

  
  
    
      	
              5.4.4

            	
              Operation Fee

            

    

     

    For the services to be performed by Contractor during the Operation Phase, Contractor will invoice monthly, each of such monthly invoice composed by a fixed fee and a variable fee, as provided for
      below (“Operation Fee”). The first invoice of the Operation Fee shall be submitted by Contractor on the fifth (5th) day of the following calendar month in which the Operation Phase has began and so forth for every subsequent month until the end of
      the Term.

     

    	5.4.4.1	
            Monthly Fixed Fee

          

     

    The fixed component of the Operation Fee (“Monthly Fixed Fee”) shall be calculated as per the following:

     

    [OPTION A – Term of this Agreement corresponding to 16 (sixteen) years]

    	

          	(a)	
            [***] Brazilian Reais (R$ [***]) for each calendar month of the Operation Phase from the beginning of Operation Phase up to and including the tenth (10th) year of Operation Phase; and

          

     

    	

          	(b)	
            [***] Brazilian Reais (R$ [***]) for each calendar month of the Operation Phase from and including the eleventh (11th) year of Operation Phase up to the end of the Term.

          

     

    The amounts set forth in items (a) and (b) above shall be prorated for any partial months at the start and end of the related period, or in case of earlier termination of the Agreement.

     

    or

     

    [OPTION B - – Term of this Agreement corresponding to 25 (twenty-five) years]

    	

          	(a)	
            [***] Brazilian Reais (R$ [***]) for each calendar month of the Operation Phase from the beginning of Operation Phase up to and including the tenth (10th)
              year of the Operation Phase;

          

     

    	

          	(b)	
            [***] Brazilian Reais (R$ [***]) for each calendar month of the Operation Phase from and including the eleventh (11th) year of the Operation Phase up to and
              including the eighteenth (18th) year of Operation Phase; and

          

     

    	

          	(c)	
            [***] Brazilian Reais (R$ [***]) for each calendar month of the Operation Phase from and including the nineteenth (19th) year of the Operation Phase up to end
              of Term.

          

     

    
      42

      
        

    

    The amounts set forth in items (a); (b) and (c) above shall be prorated for any partial months at the start and end of the related period, or in case of earlier termination of the Agreement.

     

    	5.4.4.2	
            Variable Monthly Fee

          

     

    The variable component of the Operation Fee (“Variable Monthly Fee”) shall be calculated as per  the Factored Fired Hours of all Covered Units during the relevant month. Any fired hours prior to the
      Commercial Operation Date will not be charged.

     

    [OPTION A – Term of this Agreement corresponding to 16 (sixteen) years]

    From year 1 to 10: [***] Brazilian Reais and [***] centavos (R$ [***]) per FFH.

     

    From year 11 to 16: [***] Brazilian Reais and ninety-eight centavos (R$ [***]) per FFH.

     

    Or

     

    [OPTION B - – Term of this Agreement corresponding to 25 (twenty-five) years]

    From year I to 10: [***] Brazilian Reais (R$ [***]) per FFH.

     

    From year 11 to 18: [***] Brazilian Reais (R$ [***]) per FFH.

     

    From year 19 to 25: [***] Brazilian Reais (R$ [***]) per FFH.

     

    
      	
              5.4.4.3

            	
              Planned Maintenance Event Fee

            

    

     

    In addition to the Operation Fee that may be due during the Operation Phase, Contractor will invoice a milestone payment for each Planned Maintenance Event (“Planned Maintenance Event Fee”),
      as described below:

     

    [OPTION A – Term of this Agreement corresponding to 16 (sixteen) years]

    From year 1 to 10: [***] Brazilian Reais (R$[***]) for each Planned Maintenance Event.

     

    From year 11 to 16: [***] Brazilian  Reais (R$[***]) for each Planned Maintenance Event.

     

    Or

    [OPTION B - – Term of this Agreement corresponding to 25 (twenty-five) years]

    From year 1 to 10: [***] Brazilian Reais (R$[***]) for each Planned Maintenance Event.

     

    
      43

      
        

    

    From year 11 to 18: [***] Brazilian Reais (R$[***]) for each Planned Maintenance Event.

     

    From year 19 to 25: [***] Brazilian Reais (R$[***]) for each Planned Maintenance Event.

     

    	5.5	
            Extra Work, Unplanned Extra Work.

          

     

    Contractor shall submit up to the fifth (5th) day of the following month, 1 (one) single invoice comprising all Extra Work and/or Unplanned Extra Work performed, provided – in any case – that  Owner
      has expressly approved such Extra Work and/or Unplanned Extra Work.

     

    	5.6	
            Guarantee Performance Commitment

          

     

    For each Performance Year, the applicable performance bonus shall be included in, or the credit for liquidated damages shall be deducted from, the monthly invoice due on the first month of the next
      Performance Year, in order to implement the Guarantee Performance Commitment set forth by Exhibit G.

     

    If the credit to which Owner is entitled due to the Guarantee Performance Commitment as provided for in the preceding paragraph cannot be entirely compensated by the first invoice due, Owner will be
      entitled to deduct any favorable balance from all future invoices until full compensation for the relevant credit is achieved.

     

    	5.6.1	
            In the event of termination or expiration of this Agreement, the applicable performance bonus or credit shall be reflected in a final invoice issued after the termination or expiration of the Agreement.

          

     

    	5.6.2	
            The Parties acknowledge and agree that the 6 (six) month-period commencing on Commercial Operation Date correspond to a ramp-up of the Facility and for that reason, no bonus and/or penalties will be assessed and/or measured during such
              period.

          

     

    	5.7	
            Method of Payment

          

     

    	5.7.1	
            Owner shall make all due and not reasonably disputed in good faith payments by wire transfer to the bank account(s) identified by Contractor within 30 (thirty) days counted as from Owner’s receipt of the related invoice.

          

     

    
      44

      
        

    

    	5.7.2	
            Each entity constituting Contractor may separately invoice for its scope of work and Owner shall separately pay each invoice.

          

     

    	5.8	
            Price Escalation

          

     

    The Pre-Mobilization Fee; the Mobilization Fee; the Additional Mobilization Fee; the BOP Equipment ISP Fee; the Monthly Fixed Fee; the unitary value of FFH applicable for calculating the Variable 
      Monthly Fee; the Planned  Maintenance Event Fee; the prices referred in Exhibits M; the threshold of thirty-five thousand Brazilian Reais (R$ 35,000.00) as provided for Section 2.11(b) for Routine Maintenance Parts; the thresholds for Unplanned
      Maintenance as provided for  in Sections 2.6.1 and 2.6.2; the property damage for the Facility as provided for in Section 2.16.1; the property damage of BOP Equipment as provided for Section 2.16.2; the limitation of liability values in Article 9
      (Limitations of Liability), the reference values of bonus and liquidated damages set forth by Exhibit G, the Termination Amount and the Termination by Convenience Amount shall be escalated in accordance with this Section 5.8.

     

    Said amounts shall be adjusted upward on an annual basis, beginning on January I, 2018, and on January 1 of each year thereafter, for (i) the values referred in this Agreement in Brazilian Reais, by
      the IPCA variation of the previous calendar year, with a minimum yearly increase of zero per cent (0%); and (ii) the values referred in US Dollars, by the CPI variation of the previous calendar year, with a minimum yearly increase of zero per cent
      (0%).

     

    	5.9	
            Late Payment

          

     

    In addition to the foregoing, Owner shall pay interest to Contractor, on all due and not reasonably disputed in good faith amounts not timely paid in accordance with this Agreement, at a fluctuating
      per annum rate (i) for the Offshore Contractor, equal to the one year London Inter-Bank Offered Rate (“LIBOR”) then in effect, as published in the US Wall Street Journal, plus three percent (3%),  with changes in such fluctuating rate to take effect
      simultaneously with the corresponding change in LIBOR, not to exceed the maximum amount permitted by applicable law; and (ii) for the Onshore Contractor, equal to the one year National Consumer Price Index (“IPCA”) then in effect, as published in the
      Fundacao Genii° Vargas, plus six percent (6%), with changes in such fluctuating rate to take effect simultaneously with the corresponding change in IPCA, not to exceed the maximum amount permitted by applicable law.

     

    ARTICLE 6: TITLE AND DELIVERY

     

    	6.1	
            Delivery

          

     

    	6.1.1	
            General Delivery Terms

          

     

    
      45

      
        

    

    Contractor shall be responsible for scheduling delivery of Parts for performance of Contractor’s obligations under this Agreement. Partial deliveries are permitted.

     

    	6.1.2	
            Shipment to Storage

          

     

    If any of the Parts cannot be received by Owner when ready due to any cause directly attributable to Owner, Contractor may notify Owner of such cause and, if Owner does not correct in thirty (30) 
      days, Contractor may ship and deliver such Parts to storage. If such Parts are placed in storage, including storage at the Facility where manufactured, the following conditions shall apply: (a) title and risk of loss shall thereupon pass to Owner, if
      it had not already passed; (b) any  amounts otherwise payable to Contractor upon delivery or shipment shall be payable 30 (thirty) days counted as from presentation of Contractor’s invoices and certification of cause for storage; (c) all reasonable
      expenses incurred by Contractor, such as for preparation for and placement into storage, handling, inspection, preservation, insurance, storage, removal charges and any taxes shall be payable by Owner 30 (thirty) days counted as from Contractor’s
      invoices; and (d) when conditions permit and upon payment of all amounts due hereunder, Contractor shall resume delivery of the Parts to the originally agreed point of delivery

     

    	6.1.3	
            Delivery of Parts

          

     

    For shipments to a Facility located within the same country  as the country of manufacture or origin of shipment, Contractor will deliver Parts Ex Works (EXW) (INCOTERMS 2010) the place  of
      manufacture, the warehouse, or other point of shipment to the Facility. For such EXW deliveries, Contractor may arrange carriage on behalf of Owner. For export shipments, Contractor shall deliver Parts (CPT) Port of Import (INCOTERMS 2010). Port of
      Import shall be Aracaju or  Recife.

     

    Except if Contractor expressly undertakes on this Agreement to directly do the custom clearance, Contractor will provide Owner with the technical description and supporting documentation of the 
      Services and/or Parts, so as to allow Owner to identify the applicable Nomenclatura Comum do Mercosul classification applicable in Brazil and perform the relevant custom clearance.

     

    	6.2	
            Passage of Title

          

     

    	6.2.1	
            Passage of Title to Owner

          

     

    Title to Parts to be shipped from the US shall pass from Contractor to Owner immediately after each item departs from the territorial land, seas, and overlying airspace of the US or after the moment
      Owner has paid for the Parts, whichever happens earlier. Title to Parts to be shipped from  within  the  country  of  the Facility shall pass to Owner when made available for shipment from the place of manufacture, the warehouse, or other point of
      shipment to the Owner. Title to Parts shipped directly from a manufacturer, warehouse, or other point of shipment to the Owner, located in EU but outside of the country of the Facility, shall pass to Owner at the earlier of the port of export
      immediately after the Parts have been cleared for export or immediately after each item departs from the territorial land, seas and overlying airspace of the EU sending country.  Title  to Parts to be shipped for any other country shall pass to Owner
      at the port of export immediately after the Parts have been cleared for export. Title to service work in progress at the Facility shall pass as such services are performed.

     

    
      46

      
        

    

    	6.2.2	
            Passage of Title to Contractor

          

     

    Contractor shall have the right, at its option, to take title to any such Parts which have been replaced with Parts supplied by Contractor under this Agreement. In the event that Contractor elects to
      exercise such option, Contractor will inform Owner and identify the parts and components  that Contractor has elected to acquire, undertaking to remove such Parts from the Site no later than 15 (fifteen) days counted as from the replacement. Title to
      such parts and components shall pass from Owner to Contractor (at the Site upon completion of the Outage during  which the replacement Part is installed). Contractor shall be responsible for packing such parts and components at the Site, custom
      clearing it for exportation from Brazil and all transportation costs out of Site, paying for any and all logistics and/or applicable taxes including, without limitation, the ones related to exiting the Brazilian territory and exportation.
      Furthermore, Contractor will refund the taxes related to the importation of Parts that had their enforceability suspended due to tax benefits and/or programs benefiting Owner (such as REIM), but which may become enforceable again and effectively
      charged, as a direct result from the transfer of title of such Parts from Owner to Contractor (regardless if such taxes are charged retroactively), including  the related penalties, fines and interest levied by fiscal authorities.

     

    	6.3	
            Risk of Loss

          

     

    Risk of Loss or damage to Parts supplied by Contractor to Owner shall be borne by Contractor prior to the time of delivery (Port of Import) and by Owner upon and after the time of delivery.

     

    	6.4	
            Repair Services Logistics

          

     

    	6.4.1	
            Repair Services Conducted at the Repair Facilities

          

     

    For Parts to which the Owner retains title when they are removed from the BOP Equipment, and which are to be repaired or refurbished at Repair Facilities and returned to Owner, the following shall
      apply:

     

    
      47

      
        

    

    Contractor shall be responsible, at its cost, for packing and preparing the Parts for shipment from the Site and Owner shall arrange, at Owner’s cost, the transportation of the parts to the Repair
      Facilities. Custom’s clearance for temporary exportation shall be Owner’s responsibility. For the transportation of the repaired Parts of BOP Equipment back to the Site, Contractor shall deliver, at its cost, such Parts back to Site, and Owner shall
      perform custom clearance. Notwithstanding any other provisions in this Agreement, including any reference to INCOTERMS, Owner shall bear risk of loss and related insurance costs for the Parts of BOP Equipment while in transit to the  Repair
      Facilities and Contractor shall bear the risk of loss for the Parts while they are at the Repair Facilities and until they are delivered back to Site. For Parts under warranty the procedure defined in Section 8.1 shall apply.

     

    When Repair Services at Repair Facilities for Parts owned by Owner have been completed, Contractor shall arrange for shipment to the Site. Partial shipments are permitted. In the event that  Owner is
      not able to accept delivery of repaired Parts from the Repair Facilities at such time and shipment is postponed, then Section 6.1.2 shall apply.

     

    All scrap and used parts and components that have been replaced during Repair Services made at  the Repair Facilities shall be the property of Contractor, undertaking Contractor to remove it from the
      Site no later than 15 (fifteen) counted as from the completion of the maintenance event and/or replacement of the relevant Part, whichever is the latest. Contractor shall be responsible for  packing such scrap and used parts at the Site, custom
      clearing it for exportation from Brazil and all transportation costs out of Site, paying for any and all logistics and/or applicable taxes including, without limitation, the ones related to exiting the Brazilian territory and exportation.
      Furthermore, Contractor will refund the taxes related to the importation of Parts that had their enforceability suspended due to tax benefits and/or programs benefiting Owner (such as REIDI), but which may become enforceable again and effectively
      charged, as a direct result from the transfer of title of such Parts from Owner to Contractor (regardless if such taxes are charged retroactively), including the related penalties, fines and interest levied by fiscal authorities.

     

    	6.4.1.1	
            For Parts that are exported from Brazil to Repair Facilities but are later assessed by Contractor at the Repair Facility as non-repairable, therefore not being subject to repair or reimported to Brazil, should Brazilian tax authorities
              levy any penalty and/or fine in relation to the non-reimport of such  Parts to Brazil, Contractor will be liable to it.

          

     

    	6.5	
            Contractor Equipment

          

     

    Contractor shall retain title to any Contractor test equipment and other equipment, components, tools, sensors, instruments, systems or materials utilized by Contractor in connection with this
      Agreement, or loaned or made available to Owner, at the Site (collectively “Contractor Equipment”), whether remaining separate or attached to the Covered Unit(s) or other  parts of the Facility. Contractor shall be responsible for transit
      costs for such Contractor Equipment to and from the Site. Owner shall keep Contractor Equipment and any Contractor parts at the Site free and clear of any and all liens of Owner and Owner’s lenders, bondholders, contractors and other creditors of any
      nature. Upon termination or expiration of this Agreement, Contractor shall have the right to remove any Contractor Equipment, and parts to which Contractor has title, then remaining at the Site.

     

    
      48

      
        

    

    ARTICLE 7: INSURANCE

     

    	7.1	
            Contractor’s Insurance

          

     

    	7.1.1	
            During the Term of this Agreement, Contractor shall maintain the following insurance coverage:

          

     

    	

          	(a)	
            Any coverage as required by Brazilian Law No 6,367 or similar applicable law with respect to Contractor’s employees;

          

     

    	

          	(b)	
            Commercial General Liability or Public Liability insurance, for Contractor’s protection, in broad form including coverage for liability assumed under contract, providing coverage for bodily injury and property damage, naming Owner as
              additional insured but only to the extent of Contractor’s indemnifications obligations pursuant to Article 16 (Indemnification), with a combined single limit of not less than fifteen million US Dollars (USD 15,000,000) cumulative total of
              underlying and excess coverages; and

          

     

    	

          	(c)	
            7.1.1.3 Automobile Liability insurance, for Contractor’s protection providing coverage for bodily injury and property damage with a combined single limit of not less than five million US Dollars (USD 5,000,000) cumulative total of
              underlying and excess coverage for all owned and non-owned vehicles used by Contractor in performance of services.

          

     

    	7.1.2	
            For each of the foregoing policies, Contractor shall provide to Owner, and shall request that the insurer provide to Owner, at least thirty (30) days, or in the case of non-payment of premium at least ten (10) days, advance written notice
              of cancellation.

          

     

    	7.1.3	
            Prior to commencement of any work under this Agreement, and not less than annually thereafter during the Term of this Agreement, Contractor shall deliver to Owner certificate(s) of insurance showing that the foregoing insurance is in full
              force and effect.

          

     

    	7.2	
            Owner’s Insurance

          

     

    	7.2.1	
            During the Term of this Agreement, Owner shall maintain or cause to maintain the following insurance coverage:

          

     

    
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          	(a)	
            Any coverage as required by Brazilian Law No 6.367 or similar applicable law with regards to Owner’s employees;

          

     

    	

          	(b)	
            Commercial General Liability or Public Liability insurance, for Owner’s protection, in broad form including coverage for liability assumed under contract, providing coverage for bodily injury and property damage with a combined single
              limit of not less than fifteen million US Dollars (USD 15,000,000) cumulative total of underlying and excess coverage;

          

     

    	

          	(c)	
            All Risk Property and Boiler and Machinery Breakdown insurance and/or any other equivalent coverage covering the functional replacement value of the Facility, which shall include a waiver of subrogation in favor of Contractor and its
              Affiliates. If at any time Owner chooses to add business interruption coverage the waiver of subrogation shall extend  to include such coverage. Such waiver shall not release Contractor from its warranty obligations, and such warranty
              obligations shall be primary to insurance; and

          

     

    	

          	(d)	
            Environmental Impairment Liability and Clean Up Cost insurance to cover both sudden and  gradual pollution with a fifteen million US Dollars (USD 15,000,000) limit per occurrence and in the aggregate annually, naming Contractor and its
              Affiliates as additional insured. In the event Owner chooses not to insure site environmental risk, failure to insured will no relieve Owner its obligations under law or contract, nor shall lack of Owner coverage impose any additional
              liability on Contractor.

          

     

    	

          	7.2.2	
            For each of the foregoing policies, Owner shall provide to Contractor and shall request that the  insurer provide to Contractor unless otherwise restricted by law, at least thirty (30) days, or in the case of non-payment of premium at
              least ten (10) days, advance written notice of cancellation.

          

     

    	

          	7.2.3	
            Prior to commencement of any work under this Agreement, and not less than annually thereafter during the Term of this Agreement, Owner- shall deliver to Contractor a certificate(s) of insurance showing that the foregoing insurance is in
              full force and effect. Upon requests of Contractor from time to time, Owner shall furnish Contractor with a complete copy of the insurance policy/policies described in Section 7.2.1 (c).

          

     

    	

          	7.2.4	
            Contractor shall have the right, but not the obligation, to pay the premiums for such insurance described in Section 7.2.1. (c). In the event that Contractor pays any such premiums, Owner shall reimburse all such amounts within five (5)
              days of Contractor’s invoice therefor.

          

     

    
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    	7.3	
            Failure to Maintain Insurance

          

     

    Failure of either Contractor or Owner to maintain any insurance required under this Article 7 shall  constitute an event of material breach for the purposes of Section 4.2.1 and, in addition to
      termination rights after the elapse of the relevant cure period as set forth by this Agreement, the non-breaching Party shall have the right to immediately suspend performance and delivery until such breach is cured. The suspending Party shall give
      notice of said suspension within twenty-four (24) hours of suspension.

     

    	7.4	
            No Waiver of Rights

          

     

    Owner’s or Contractor’s failure to demand any insurance certificates or any other evidence of full  compliance with the insurance requirements, or Owner’s or Contractor’s failure to identify any
      deficiency in each other’s insurance or certification of insurance shall neither be construed as  a waiver of either Owner’s or Contractor’s obligations to carry and maintain the insurance required under this Agreement nor relieve that deficient
      Party of its indemnification obligations or otherwise entitle it to any additional benefit under this Agreement.

     

    ARTICLE 8: WARRANTY

     

    	8.1	
            Contractor warrants to Owner that the Parts delivered during the Term of this Agreement shall be  free from defects in material, workmanship and title and that services performed and/or Parts during the Term of this Agreement shall be
              performed and/or provided in accordance with Good Industry Practices. Contractor further warrants that all Parts and services, including the ones provided and/or replaced under warranty, are fit for purpose of power equipment and use
              according to manufacturer’s parameters and Good Industry Practices.

          

     

    	8.2	
            The foregoing warranties shall expire, (A) in the case of Parts, (i) if the Contractor installs the Part  under this Agreement, the earlier of one (1) year after first use of the Part or five (5) years after the date of delivery of the
              Part and four (4) years after delivery for all other parts; or (ii) if Contractor does not install the Part under this Agreement, the earlier of one (1) year after first use  of the Part, or eighteen (18) months after the date of delivery,
              and (B) in the case of services one (1) year after the performance of the service, provided that all warranties of Parts and services shall expire no later than one (1) year after the expiration or termination of this Agreement. Any defect,
              which is the basis for a warranty claim shall not be cause for any extension of the warranty period.

          

     

    	8.2.1	
            For Parts not directly manufactured by Contractor, their warranty shall not surpass the warranty period granted by the manufacturer to Contractor, provided, however, that such Parts are subject to a minimum of one (1) year after first use
              of the Part, or eighteen (18) months after the date of delivery, whichever is the earliest.

          

     

    
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    	8.3	
            If any failure of Parts to meet the above warranties is discovered during the warranty period, Owner shall promptly notify Contractor in writing and make the applicable portion of the Facility available for correction of the defective
              Parts as soon as reasonably possible, and Contractor shall thereupon correct the defect by, at its option, repairing or replacing the defective Part(s). If any failure to meet the above warranties is discovered during the warranty period,
              Owner shall promptly notify Contractor in writing and provide Contractor such access as is necessary for re-performance, and Contractor shall thereupon correct the defect by re-performing the defective Service.

          

     

    	8.4	
            In fulfilling its warranty obligations as described in this Article 8, Contractor shall be responsible for the cost of opening and closing of the subject item of BOP Equipment in order to access Parts for warranty repair and replacement.
              Contractor shall not be responsible for the cost of removal or replacement of systems, structures or other parts of the Facility other than the particular item of  BOP Equipment which gives rise to the warranty claim, only in the case that
              said systems, structures or other parts of the Facility were modified after the Commercial Operation Date. The conditions and schedule of any additional tests that Owner choses to carry out in order to assess the warranty fulfillment by
              Contractor, shall be mutually agreed upon and Contractor may be represented at all tests that may be made.

          

     

    	8.5	
            Except where longer and/or more beneficial warranty terms in favor of the Owner are set forth in  a proposal for Extra Work from Contractor to Owner (in which case the specifically warranty terms apply), the provisions of this Article 8
              shall apply to Extra Work which Contractor agrees to undertake pursuant to this Agreement.

          

     

    	8.6	
            Should any defect of Part give rise to a warranty claim under the EPC Contract, then Owner shall seek remedy from the EPC Contractor and Contractor shall have no responsibility for repair of defects, Unplanned Maintenance, or other
              failures, which are covered under a warranty in the EPC  Contract. However if the failure is caused by defective Parts and/or services from Contractor and the EPC Contract warranty does not apply, then Contractor shall be responsible for the
              repair and/or replace under the terms of this Agreement, without being entitled to charge this as Extra Work.

          

     

    	8.7	
            Contractor also provides a Guaranteed Performance Commitment in accordance with Exhibit G.

          

     

    	8.8	
            Except for Section 4.2.1 and Article 16 (Indemnification), the preceding paragraphs of this Article  8 set forth the exclusive remedies for all claims based on failure of or defect in the Parts and services provided under the Agreement or
              Contractor’s performance, whether the failure or defect arises before or during the applicable warranty period and whether a claim, however instituted,   is  based  on  contract , warranty, indemnity, tort/extracontractual  liability
              (including negligence), strict liability or otherwise. The foregoing warranties and guarantees are exclusive and are in lieu of all other warranties and guarantees whether written, oral, implied or statutory. NO IMPLIED OR STATUTORY WARRANTY
              OR WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE SHALL APPLY.

          

     

    
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    ARTICLE 9: LIMITATIONS OF LIABILITY

     

    	9.1	
            THE TOTAL LIABILITY OF CONTRACTOR, ON ALL CLAIMS OF ANY KIND ARISING FROM OR RELATING TO THIS AGREEMENT, ACCRUING DURING ANY CALENDAR YEAR, ARISING OUT OF THE PERFORMANCE OR BREACH OF THIS AGREEMENT, OR  THE USE OF ANY PARTS OR THE
              PROVISION OF ANY SERVICES, SHALL NOT EXCEED ELEVEN MILLION US DOLLARS (USD 11,000,000) AND IN NO EVENT SHALL THE CUMULATIVE TOTAL LIABILITY OF CONTRACTOR ON ALL SUCH CLAIMS OF ANY KIND UNTIL THE TIME ALL SUCH LIABILITY ENDS, EXCEED SIXTY
              MILLION US DOLLARS (USD 60,000,000). SUCH ANNUAL AND/OR TOTAL LIABILITY LIMITS TO  BE ESCALATED AS PER SECTION 5.8.

          

     

    THE LIMITS OF LIABILITY REFERRED TO IN SECTION 9.1 ABOVE (ANNUAL AND/OR TOTAL LIABILITY LIMITS) SHALL NOT APPLY IN THE FOLLOWING CASES:

     

    	

          	(a)	
            DIRECT COSTS INCURRED BY CONTRACTOR TO REPAIR OR REPLACE ANY DEFECTIVE PARTS OR SERVICES IN ACCORDANCE WITH ARTICLE 8 (WARRANTY);

          

     

    	

          	(b)	
            INDEMNIFICATION OBLIGATIONS PURSUANT TO ARTICLE 16 (INDEMNIFICATION) FOR PERSONAL DAMAGES (DEATH/BODILY INJURY) AND/OR THIRD PARTY PROPERTY;

          

     

    	

          	(c)	
            FINES AND PENALTIES TO THE EXTENT RESULTING FROM CONTRACTOR’S VIOLATION OF LAWS AS SET FORTH IN SECTION 16.3;

          

     

    	

          	(d)	
            CONTRACTOR’S LIABILITY ARISING OUT OF WILLFUL MISCONDUCT, GROSS NEGLIGENCE OR FRAUD;

          

     

    	

          	(e)	
            INDEMNITY OBLIGATIONS FOR INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS PURSUANT TO ARTICLE 17 (INTELLECTUAL PROPERTY) HEREOF.

          

     

    FOR AVOIDANCE OF DOUBT, SECTION IN 9.1 WILL NOT LIMIT CONTRACTOR’S OBLIGATION  TO  PAY  DIRECTLY  TO   PUBLIC  AUTHORITIES  IN   ANY  AMOUNT CLAIMED DIRECTLY BY SUCH AUTHORITY AGAINST CONTRACTOR.

     

    
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    	9.2	
            ALL CONTRACTOR LIABILITY SHALL END UPON EXPIRATION OF THE APPLICABLE  WARRANTY PERIOD AND, IN NO EVENT, LATER THAN THREE (3) YEARS FOLLOWING TERMINATION OR EXPIRATION OF THIS AGREEMENT, WHICHEVER IS EARLIER.

          

     

    	9.3	
            IN NO EVENT SHALL CONTRACTOR OR ITS SUBCONTRACTORS OR SUPPLIERS BE LIABLE FOR LOSS OF PROFIT OR REVENUES, LOSS OF USE OF THE FACILITY OR THE COVERED UNIT(S) OR ANY ASSOCIATED EQUIPMENT, cos.”‘ OF CAPITAL, COST  OF SUBSTITUTE EQUIPMENT,
              FACILITIES, SERVICES OR REPLACEMENT POWER, DOWNTIME COSTS, CLAIMS OF OWNER’S CUSTOMERS FOR SUCH DAMAGES, OR FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, INDIRECT, PUNITIVE OR EXEMPLARY DAMAGES. IN NO EVENT SHALL OWNER OR ITS SUBCONTRACTORS OR
              SUPPLIERS BE LIABLE FOR LOSS OF PROFIT OR REVENUES,  LOSS OF USE OF CONTRACTOR EQUIPMENT, COST OF CAPITAL, COST OF SUBSTITUTE EQUIPMENT, DOWNTIME COSTS, OR FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, INDIRECT, PUNITIVE OR EXEMPLARY DAMAGES.
              FOR THE AVOIDANCE OF DOUBT, THE FOREGOING DOES NOT REPRESENT A WAIVER OF OWNER’S OBLIGATIONS TO PAY FOR THE PRICE OF THE PRESENT AGREEMENT.

          

     

    	9.3.1	
            FOR AVOIDANCE OF DOUBT, THE TERMINATION FEE THAT MAY BE DUE FROM ONE PARTY TO THE OTHER PARTY AS PER ARTICLE 4 (TERM AND TERMINATION) AND/OR ANY LIQUIDATED DAMAGES OR BONUSES IN ACCORDANCE WITH EXHIBIT G (GUARANTEED PERFORMANCE COMMITMENT)
              WILL NOT BE PRECLUDED BY THE SECTION 9.3.

          

     

    	9.4	
            EXCEPT TO THE EXTENT CONTRACTOR HAS RESPONSIBILITY UNDER ARTICLE 8 (WARRANTY) AND SECTION 6.3, OR AN OBLIGATION TO REPAIR UNPLANNED MAINTENANCE OR REPAIR OF PROPERTY DAMAGE UNDER SECTION 2.16, OWNER WAIVES RIGHTS OF RECOVERY AGAINST
              CONTRACTOR FOR LOSS OR DAMAGE TO  PROPERTY OF OWNER.

          

     

    	9.5	
            FOR THE PURPOSES OF THIS ARTICLE 9, THE TERM “CONTRACTOR” SHALL MEAN CONTRACTOR, ITS AFFILIATES, SUBCONTRACTORS AND SUPPLIERS OF ANY TIER, AND THEIR RESPECTIVE AGENTS AND EMPLOYEES, WHETHER INDIVIDUALLY OR COLLECTIVELY.

          

     

    
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                  9.6

                	
                  THE   LIMITATIONS    AND   EXCLUSIONS    IN   THIS    ARTICLE  9   SHALL   APPLY REGARDLESS OF WHETHER A CLAIM IS BASED IN CONTRACT, WARRANTY, INDEMNITY, TORT/EXTRA-CONTRACTUAL LIABILITY (INCLUDING
                    NEGLIGENCE), STRICT LIABILITY OR OTHERWISE. THE PROVISIONS OF THIS ARTICLE 9 SHALL PREVAIL OVER ANY CONFLICTING OR INCONSISTENT PROVISIONS CONTAINED IN  ANY OF THE DOCUMENTS COMPRISING THIS AGREEMENT, EXCEPT TO THE EXTENT THAT SUCH
                    PROVISIONS FURTHER RESTRICT CONTRACTOR’S LIABILITY.

                

        

      

    

     

    ARTICLE 10: DISPUTE RESOLUTION

     

    	10.1	
            This Agreement shall be governed by and construed in accordance with the laws of England and Wales without giving effect to any choice of law rules that would cause the application of laws of  any other jurisdiction (“Governing Law”).

          

     

    	10.2	
            All disputes arising in connection with this Agreement shall be settled, if possible, by negotiation of the Parties. If the matter is not resolved by such negotiations, either Party may, by the giving of  written notice, cause the matter
              to be referred to a meeting of appropriate higher management of the Parties. Such meeting shall be held within ten (10) business days following the giving of the written notice.

          

     

    	10.3	
            If the matter is not resolved within twenty (20) business days after the date of the notice referring the matter to appropriate high management, or such later date as may be mutually agreed upon, then the dispute may be submitted to
              non-binding mediation upon the mutual agreement of the Parties. In the event of mediation, mediator fees shall be shared equally by the Parties.

          

     

    	10.4	
            If the matter is not resolved through such mediation (or within twenty (20) business days after the  date of the notice referring the matter to appropriate higher management, or such later date as  may be mutually agreed upon, if there is
              no mediation), then the dispute shall be finally settled by arbitration under the Rules of Arbitration of the International Chamber of Commerce (“ICC Rules”) by three arbitrators appointed in accordance with the ICC Rules, without
              recourse to common or commercial courts. Each Party shall have the right by giving notice to the other Party to refer a dispute or controversy to arbitration at any time after the time described in the previous sentence. The notice shall
              identify the name and address of the arbitrator appointed by the Party giving notice and the points of dispute.

          

     

    	10.5	
            Within thirty (30) days after receipt of such notice, the other Party shall give notice to the first Party of the appointment and name and address of the second arbitrator. Within sixty (60) days after appointment of the second arbitrator,
              the two (2) arbitrators so appointed shall appoint a third  arbitrator as chairman of the arbitration tribunal. If any appointment is not made within the time specified, then the Secretary General of the International Chamber of Commerce
              shall have the power, on the request of either Party, to make such appointments.

          

     

    
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    	10.6	
            The arbitration shall be conducted in the English language. The legal seat of the arbitration shall be London, England, or such other location as mutually agreed upon by the Parties. In arriving at  their decision, the arbitrators shall
              consider the pertinent facts and circumstances and be guided by the terms and conditions of this Agreement; and, if a solution is not found in the terms of this Agreement, the arbitrators shall apply the Governing Law of the Contract as
              defined in Section 10.1. Both Parties shall have the right to present documentary evidence, witnesses, and to cross-examine witnesses. The decision of the arbitrators shall be final and binding upon both Parties, and may be entered in any
              court having jurisdiction thereof. Neither Party shall seek recourse to a  law court or other authorities to appeal for revisions of such decision. Each Party shall be liable for its own attorneys’ fees and other litigation expenses.
              International Chamber of Commerce and  arbitrator fees and expenses for the arbitration shall be shared equally. On request of either Party, a transcript of the hearings shall be prepared and made available to the Parties.

          

     

    	10.7	
            Notwithstanding the foregoing, each Party shall have the right at any time, at its option and where legally available, to commence an action or proceeding in a court of competent jurisdiction, subject to the terms of this Agreement, in
              order to seek and obtain a restraining order or injunction,  but not monetary damages, to enforce the confidentiality provisions set forth in Article  11 (Confidentiality) and the no nuclear use restrictions set forth in Article 23 (No
              Nuclear Use). Monetary damages shall only be available in accordance with procedures set out in Sections 10.1, 10.2, 10.3, and 10.4.

          

     

    
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    ARTICLE 11: CONFIDENTIALITY

     

    Information, suggestions or ideas transmitted in connection with performance hereunder are not to be regarded as secret or submitted in confidence except in accordance with this Article 11.  Any 
      information disclosed by either Party in connection with this Agreement and designated in writing, by label, stamp or other written communication by the disclosing Party as “confidential” or “proprietary” at the time of disclosure (or in the case of
      verbal disclosure, verbally identified as  “confidential” or “proprietary” at the time of disclosure and then confirmed in writing as  “confidential” or “proprietary” within ten (10) days after the verbal disclosure) shall be treated as “Confidential

        Information” subject to this Article 11. It is agreed that all prices, and this Agreement and all drafts hereof, shall be considered Contractor’s Confidential Information at all times. The recipient Party agrees (i) to treat such Confidential
      Information as confidential and not  disclose it to third parties other than Contractor Affiliate entities as necessary for performance of this Agreement, (ii) to restrict the use of such Confidential Information to matters relating to the recipient
      Party’s performance of this Agreement, and (iii) to restrict access to such information  to employees of the recipient Party and Contractor’s Affiliate entities whose access is necessary in the implementation of this Agreement. All copies of written
      Confidential Information will be returned to the disclosing Party upon request (i) except to the extent that an item of such information is designated to be retained by the recipient Party pursuant to a specific provision of this Agreement, and (ii)
      Contractor may retain one copy of Owner Confidential Information until such time as all its liability under this Agreement terminates.

     

    	11.2	
            The foregoing restrictions do not apply to Confidential Information which: (i) is, or becomes, publicly known other than through a breach of this Article 11 or other illegal or wrongful act; (ii) is in possession of the recipient Party
              prior to receipt from the disclosing Party, or (iii) is independently developed by the recipient Party, provided that the person or persons developing the same have not had access to such Confidential Information from the disclosing Party
              under this Agreement, (iv) is furnished to others by the disclosing Party without restrictions similar to those herein on the right of the receiving Party to use or disclose, or (v) must be disclosed pursuant to requirements of law or valid
              legal process, provided that the Party intending to make disclosure in response to such requirements or process shall promptly notify the disclosing Party in advance of any such disclosure and reasonably cooperate in attempts to maintain the
              confidentiality of the Confidential Information. The confidentiality obligations set forth in Section 11.1 with respect to  an item of Confidential Information shall expire upon the latter of (a) two (2) years following expiration or earlier
              termination of this Agreement or (b) four (4) years from the disclosure of such  item of Confidential Information.

          

     

    
      
        	
                11.3

              	
                Notwithstanding the foregoing, Contractor shall have the right, in its discretion, to gather, retain, and  use  data  and  information concerning Parts, Covered Unit(s), BOP Equipment and Facility
                  performance, so long as Contractor does not disclose to any party not a Contractor Affiliate the identification of the Owner in connection with a particular item of data or information.

              

      

    

     

    
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    ARTICLE 12: HEALTH, SAFETY AND SECURITY

     

    
      	
              12.1

            	
              Health and Safety

            

    

     

    	12.1.1	
            Starting on the Commercial Operation Date, Contractor will implement the Health and Safety Program, following its procedures when performing the Operation Services, as per Section 2.3.2 (o).

          

     

    	12.1.2	
            Prior to the Contractor acknowledges and agrees, that prior to Commercial Operation Date, EPC Contractor will have control of the Site and since Contractor is aware of EPC Contractor’s plans and design for the Facility, Contractor warrants
              that the Site prior to Commercial Operation Date will be on conditions suitable for the services of the Pre-Mobilization Phase and Mobilization Phase.

          

     

    	12.2	
            Without prejudice to Sections 24.3, 24.3.1 and 24.3.2, if security or safety of Contractor’s personnel or the safe performance of services is, or is apt to be, imperiled by security concerns (including but not limited to war (declared or
              undeclared), armed conflict or threatened conflict, civil unrest or riots, terroristic acts or threats, ), Contractor may remove some or all of its personnel  from the Site or area and/or suspend performance of all or any part of its services
              and/or perform and/or supervise work from an alternate location determined by Contractor. Owner shall assist in any evacuation of Contractor personnel from the Site. Any of the foregoing shall be considered to be an Excusable Event.

          

     

    	12.2.1	
            Notwithstanding anything to the contrary: (a) reference to “safety”, “safely” or words of similar import in connection with the Contractor’s work scope or obligations do not include or establish any reference or responsibility for security
              at the Facility or personnel at the Facility; and (b) the Contractor shall have no obligation or liability regarding the adequacy of security or security plans  or procedures for the Facility, Site, or personnel at the Facility or Site.

          

     

    	12.3	
            Owner’s Security Program

          

     

    At all times while Contractor’s personnel are on or about the Facility or Site, or expected to be on or about the Facility or Site, Owner shall provide security equipment, facilities, personnel
      (including gatehouse men), and measures adequate to protect (i) such Contractor personnel against  potential threats to their safety or well-being and (ii) the Facility. In periods where the plant is unmanned, a system replicating the plant alarms
      shall be available and functioning in  the gatehouse and in case of alarms the gatehouse man shall promptly call Contractor’s stand-by personnel.

     

    
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    ARTICLE 13: SUPPLEMENTAL PAYMENT TERMS

     

    	13.1	
            Non-fulfillment

          

     

    In addition to its other rights, if Owner fails to perform any payment not reasonably disputed in good faith in this Agreement within 30 (thirty) days after its due date or becomes Insolvent,
      Contractor may suspend performance, delivery and/or the eventually affected Guaranteed Performance Commitment and/or thereafter require full or partial payment in advance. Any reasonably incurred and duly evidenced cost by Contractor in accordance
      with such suspension (including storage costs) shall be payable by Owner upon submission of Contractor’s invoices.

     

    ARTICLE 14: ASSIGNMENT

     

    	14.1	
            The rights under this Contract will not be assignable by either Party in whole or in part without the prior written consent of the other Party, with the exception of:

          

     

    	

          	(a)	
            Owner’s assignment of its rights hereunder, without the consent of Contractor, to the Lenders or an agent of the Lenders. In such case, Contractor shall enter into any consent and direct agreement as may be reasonably agreed to by
              Contractor, Owner and the Lenders,  provided that such any Lender or agent is not entity which would cause Contractor to be in violation of US and applicable law (including International Treaties and International Conventions);

          

     

    	

          	(b)	
            Owner shall also have the right to transfer, by way of assignment or novation to an Owner Affiliate, all of its rights and obligations under this Agreement, provided that the transferee Owner Affiliate has the legal, financial and
              technical capability to perform the Agreement and is not a Competitor of Contractor, and that such a transfer would not cause Contractor to be in violation of any laws or regulations; and

          

     

    	

          	(c)	
            Contractor’s assignment of its rights to Contractor’s Affiliates (provided that in such case the Contractor Affiliate has a sound financial record and technical capability), and/or payment and receivables hereunder, without the consent of
              Owner, to banks, or financial institutions, provided that such assignment does not cause Owner to incur in additional costs and/or negatively impacts Owners to secure its long-term financing.

          

     

    
      
        	
                14.2

              	
                Nothing in this Article 14 shall restrict Contractor from subcontracting portions of its work, provided that: (i) Contractor shall remain responsible to Owner for performance of subcontracted scope; and (ii) all Parts listed in Exhibit
                  N shall be supplied by Contractor and will not be subcontracted unless prior approval of Owner.

              

      

    

     

    
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    ARTICLE 15: SITE CONDITIONS AND HAZARDOUS MATERIALS

     

    	15.1	
            Prior to Contractor commencing the services at the Site, Owner shall (i) provide documentation that identifies any pre-existing contamination of Site property and the pre-existence of any Hazardous Materials in the Site; and (ii) allow
              Contractor, at its option, access to the Site and Facility to perform a Site evaluation, including without limitation, a review of applicable documents and visual examination of the Site and Facility.

          

     

    	15.2	
            Contractor shall inform Owner if any of the following conditions are encountered in the course of  Contractor’s work: (i) conditions at the Site differing materially from those established under the EPC Contract and/or disclosed by Owner,
              that present health and safety risk to Contractor’s personnel; and (ii) Hazardous Materials that require special handling and/or disposal. Owner shall promptly investigate the conditions described above and take, as soon as reasonably
              possible, the steps required to legally eliminate such conditions so that the services under this Agreement may safely proceed. Without prejudice to Sections 24.3, 24.3.1 and 24.3.2, if any such condition proven  causes an increase in
              Contractor’s cost of, or the time required for, the performance of any  Service under this Agreement, an equitable extension of time and/or the reasonably incurred and evidenced costs by Contractor will be reimbursed by Owner.

          

     

    	15.3	
            Contractor shall place any waste generated during the course of Contractor’s work at the Site at an area designated by Owner within the Site and Owner agrees to properly dispose of all such Hazardous Materials.

          

     

    	15.4	
            The Parties acknowledge and agree that the following Hazardous Materials when as normally used in commercial operation of the Facility shall not entitle Contractor to suspend the services and/or constitute an Excusable Event and/or
              Assumption Violation: substances inherent to the activities to  be provided by the Contractor under this Agreement; and/or consumables, fuel, Parts, components associated with, necessary to and/or by product of the design, engineering and
              construction of the Facility under the EPC Contract and/or the maintenance under the CSA Contract.

          

     

    	15.5	
            Owner shall indemnify and hold Contractor harmless for any and all claims, damages, losses, causes  of action, demands, judgments and expenses arising out of or relating to the presence of any  Hazardous Materials which are: (i) present on
              the Site prior to the commencement of the applicable Contractor work event; or (ii) improperly handled or disposed of by Owner; or (iii) brought on to the Site or produced or released thereon by parties other than Contractor or its
              subcontractors under this Agreement.

          

     

    
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    ARTICLE 16: INDEMNIFICATION

     

    	16.1	
            Contractor agrees to indemnify and hold harmless Owner from and against any loss or expense by  reason of physical damage to the property of third parties or bodily injury, including death, of persons to the extent such damage or injury
              results directly from the acts, negligent omissions or acts of prevention of Contractor or its subcontractors while engaged in the performance of this Agreement. Owner shall likewise indemnify and hold harmless Contractor from and against any
              loss or expense by reason of physical damage to the property of third parties or bodily injury, including death, of persons to the extent such damage or injury results directly from the acts, negligent omissions or acts of prevention of Owner
              or its other contractors. In the event such damage or injury is caused by the joint or concurrent negligence of Owner (or its other contractors)  and Contractor (or its subcontractors), the loss or expense shall be borne by each Party in
              proportion to its degree of negligence or the degree of negligence of its contractors/subcontractors.

          

     

    	16.2	
            For purposes of this Article 16, no portion of the Facility or the Site will be deemed as third party property. Should an additional Owner of the Facility or Site claim damages to Contractor that would be excluded or limited by the
              provisions of the Agreement if Owner was in fact the sole owner of the Facility or Site, Owner shall indemnify and hold harmless Contractor from such claims.

          

     

    	16.3	
            Without prejudice to other indemnification obligations expressly set forth herein, Contractor agrees to indemnify and hold harmless Owner from and against any fines and penalties that may be assessed against Owner to the extent resulting
              from breach of the applicable law by Contractor in the performance of this Agreement, and Owner shall likewise indemnify and hold harmless Contractor from and against any fines and penalties that may be assessed against Contractor to the 
              extent resulting from breach of the applicable law by Owner.

          

     

    	16.3.1	
            Contractor will indemnify and hold Owner harmless from fines, penalties and/or interest charges levied by Brazilian fiscal and/or customs authorities to the extent resulting from (i) incorrect description (as per Section 6.1.3) of the
              Parts to be provided and/or services to be performed by Contractor, directly leading to tax misclassification by Owner; and/or (ii) incorrect payment of Contractor’s Taxes and other obligations thereto.

          

     

    ARTICLE 17: INTELLECTUAL PROPERTY

     

    	17.1	
            Each Party shall retain ownership of all Confidential Information and intellectual property rights of any kind (including patents, designs and models, copyrights, trademarks) to any product, software or documentation, as well as of
              know-how (including processes, ideas, concepts and techniques)  owned  or  developed  by it prior  to  this  Agreement . All new intellectual property conceived or created by Contractor in the performance of, or arising from this Agreement,
              whether  alone or with any contribution from Owner, shall be owned exclusively by, and vest in, Contractor. Owner agrees to deliver assignment documentation and give Contractor other reasonable assistance as necessary to achieve that result.

          

     

    
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    	17.2	
            Owner shall not itself, and shall not allow any person or entity to, reverse engineer the Parts or software, or prepare derivative works from, alter, modify, disassemble, reverse engineer, reverse assemble, de-compile, or otherwise attempt
              to reconstruct, discover or derive the object or source code of any software licensed to Owner by Contractor under this Agreement. Further, Owner shall  not permit or otherwise grant any third party access to the Parts or software for such
              purpose.

          

     

    	17.3	
            Subject to the terms of this Agreement, including without limitation Section 17.3.1, Contractor agrees to indemnify and hold harmless Owner from any claim by a third party that the use of any Parts or services furnished by Contractor under
              this Agreement in Brazil as contemplated by this Agreement infringe any patent in effect, including without limitation, in the US, a EU member state, or in the country of the Site (provided there is a corresponding patent issued by the US or
              an  EU member state), or any copyright registered in the US or the country of the Site, provided that Owner (i) notifies Contractor promptly of the receipt of any claim; (ii) does not make any admission of liability or take any position
              adverse to Contractor regarding such claim and (iii) gives Contractor information, assistance and exclusive authority to settle and defend the claim. In  the event of any such claim, Contractor may also, at its option, (i) procure for Owner
              the right to continue using the Part or service; (ii) modify the Part or Service so that it becomes non-infringing; (iii) replace the Part or service with non-infringing Parts or services; or (iv) take back the infringing Part or service and
              refund and/or reduce the price allocable to such Part or service. If, in any suit arising from such a claim, the continued use of the Part or service for the purpose intended is forbidden by any court of competent jurisdiction, Contractor
              shall at its option take one or more of the actions under (i) (H), (Hi), or (iv) above. The foregoing states the entire liability of Contractor for intellectual property infringement of any Parts or services.

          

     

    	17.3.1	
            Without prejudice to Sections 24.3, 24.3.1 and 24.3.2, Section 17.3 shall not apply, and Contractor shall have no obligation or liability with respect, to (i) any Part or software which is “tailor‐made”  manufactured or performed to
              Owner’s design, or (ii) any Part or software which is altered, modified or revised by any person or party other than Contractor, or (Hi) the combination, use or operation of any Parts or software furnished under this Agreement in conjunction
              with any other products, or software not furnished by Contractor under this Agreement, or (iv) unauthorized use of Parts or software, including, without limitation, any use or  application in violation of this Agreement.

          

     

    
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    ARTICLE 18: CHANGES AND MODIFICATIONS

     

    	18.1	
            Each Party may, from time to time, propose changes in the scope of Parts and/or services to be provided by Contractor under this Agreement, which changes will be subject to mutual agreement of the Parties. Contractor will advise Owner if
              any proposed change will result in a change in the price or payments, anticipated schedule of performance or Guaranteed Performance Commitment, or have other impacts upon the terms or performance of this Agreement. Neither Party shall be
              obligated to proceed with any change until the Parties have agreed upon its effect and signed a written amendment or change order document.

          

     

    ARTICLE 19: EXCUSABLE EVENTS

     

    	19.1	
            Neither Owner or Contractor shall be liable or be considered to be in breach or default of its obligations under this Agreement to the extent that performance of its respective obligations is delayed or prevented due to an Excusable Event:

          

     

    	19.1.1	
            Excusable Event shall include without limitation the following events: acts of god, act (or failure to act) of governmental authorities or third parties not engaged by the Party claiming the Excusable  Event, fires, severe weather
              conditions, earthquakes, strikes, floods, war (declared or undeclared), armed conflict, epidemics, civil unrest, riot, acts or threats of terrorism, earthquake, volcanic eruption, flood, storm, cyclone, tornado, typhoon or other natural
              disasters, plague or epidemic, radioactive or chemical contamination, air crash, shipwreck or train crash, war, hostilities, belligerence, blockade, acts of terrorism, sabotage, civil commotion, riot, revolution, insurrection or piracy, and
              any condition or circumstance within the Facility which presents a reasonably assessed health and safety risk to persons performing the services and not known to the Parties at the Contract Effective Date.

          

     

    	19.2	
            For avoidance of doubt, the Parties acknowledge and agree that the following events shall not be considered Excusable Event:

          

     

    	

          	(a)	
            Strikes, labor disturbances or blockades involving the personnel of Contractor or the personnel of any subcontractor that are not the result of a general strike or labor disturbances of national, state or municipal nature;

          

     

    	

          	(b)	
            Financial problems and/or financial difficulties of any of the Parties and/or any other entity’s economic hardship;

          

     

    	

          	(c)	
            Public disturbance, boycotts, sabotage, riots or blockades that have been caused by actions or omissions of Contractor, its personnel, subcontractor’s personnel;

          

     

    
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          	(d)	
            Insolvency, liquidation, bankruptcy, judicial or extra judicial recovery, reorganization, extinction, or similar event of any of the Parties;

          

     

    	

          	(e)	
            The delay, default or failure by any of the Parties to obtain the necessary permits under its responsibility due to the lack of diligence of such Party in obtaining such necessary permits;

          

     

    	

          	(f)	
            Shortages or price fluctuations with respect to equipment and/or materials, consumables, supplies or components of equipment or other services;

          

     

    	

          	(g)	
            Shortages of manpower, except to the extent resulting from an Excusable Event;

          

     

    	

          	(h)	
            The delay, default or failure to perform any obligation by a subcontractor, except to the extent resulting from an Excusable Event;

          

     

    	

          	(i)	
            Machinery or equipment breakdown, except to the extent resulting from an Excusable Event;

          

     

    	

          	(j)	
            Weather conditions that are typical for the Site, i.e. those that could have been reasonably expected by Contractor based on historical weather data for the period from 01/01/2006 to 31/12/2015 (10 years), as provided by Instituto Nacional
              de Meteorologia (“INMET”), Eixo  Monumental Sul Via SI - Sudoeste - Brasilia-DF - CEP: 70680-900 and/or electronically via Intp://www.inmet.gov.br/portaUindex.php?r=bdmep/bcnep, for the weather station Aracaju, Sergipe with INMET Code: A409.

          

     

    	19.2.1	
            The Party claiming that an Excusable Event has occurred shall notify the other Party of any such Excusable Event. The date of delivery or of performance shall be extended for a period equal to the time lost by reason of the Excusable
              Event, provided that the Term of this Agreement shall not  be extended due to any Excusable Event, unless mutually agreed upon in writing by the Parties. If Contractor is delayed by acts or omissions of Owner, or by prerequisite work of
              Owner’s  other contractors or suppliers, Contractor’s waiting time and other additional time, expense and work resulting from such delay shall be considered Extra Work and Contractor shall be entitled to invoice Owner for such Extra Work. The
              occurrence of an Excusable Event shall not  excuse any delay or failure of Owner to make any payment to be paid to Contractor pursuant to this Agreement if the operation of the Facility is not impacted by the Excusable Event except to the
              extent the Excusable Event directly delays or prevents the transmission of the payment, itself.

          

     

    	19.3	
            If delay excused by Section 19.3.1 extends for more than one hundred eighty (180) days and the Parties have not agreed upon a revised basis for continuing the work at the end of the delay, including the equitable price adjustment, then
              either Party (except where delay is caused by  acts or omissions of a Party, in which event only the Party not committing the acts or omissions), upon  thirty (30) days prior written notice, may terminate this Agreement in accordance with
              Section 4.2.1 of this Agreement.

          

     

    
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    ARTICLE 20: NOTICES

     

    	20.1	
            All notices required or desired to be given pursuant to this Agreement shall be in writing and shall be delivered by personal in-hand delivery, sent by facsimile transmission, or sent prepaid by recognized delivery service (such as Federal
              Express), addressed as follows:

          

     

    	 	
            If to Owner

             

            Mr. Edio Jose

            [***]

            E-mail: [***] (with a copy to [***])

          	 
	 	 	 
	 	
            If to Contractor    :

          	
            with a copy to:

          
	 	
            General Electric International, Inc.

          	
            GE POWER & WATER

              EQUIPAMENTOS E SERVICOS DE

              ENERGIA E TRATAMENTO DE AGUA

              LTDA.

          
	 	
            [***]

          	
            [***]

          
	 	
            Attention: Region General Manager

            GE Power Services

            Fax No.: [***]

            Telephone No.: [***]

          	
            Attention: Region Managing Counsel

            GE Power Services

            Fax No.: [***]

            Telephone No.: [***]

          

     

    	20.2	
            Such notices shall be deemed to have been given when delivered to the email box in case of email delivery; and in the case of in-hand delivery, on the date of receipt confirmed by the mailing service. Either Party may modify its address
              for notices by advance written notice to the other Party delivered in conformance with this Article 20.

          

     

    
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    ARTICLE 21: CHANGE IN LAW

     

    	21.1	
            If after the Contract Effective Date there is a change in the applicable laws, rules, regulations and technical requirements with mandatory enforceability affecting the services, an equitable extension of time and/or the reasonably
              incurred and evidenced costs by Contractor will be reimbursed by Owner.

          

     

    	21.2	
            All transactions hereunder shall at all times be subject to and conditioned upon compliance with all applicable export control laws and export control regulations of the US and any amendments thereof. Owner hereby agrees that it shall not
              transship, re-export, divert or otherwise make or allow any disposition of US origin goods, software or other material or technical data, or the direct product thereof, supplied by Contractor under this Agreement, to any country other than
              the country in which the Facility is located, except as may be permitted by such US laws and regulations. Owner hereby certifies that the equipment, materials, services, technical data, software or other information or assistance furnished by
              Contractor under this Agreement will not be used in the design, development, production, stockpiling or use of chemical, biological, or nuclear weapons either by Owner or by any entity acting on Owner’s behalf.

          

     

    ARTICLE 22: TAXES AND DUTIES

     

    	22.1	
            Contractor shall be responsible for, and shall pay directly all Contractor Taxes. If Owner deducts or withholds Contractor Taxes, Owner shall furnish within one (1) month to Contractor accurate official receipts from the appropriate
              governmental authority for each deducted or withheld amount of Contractor Taxes.

          

     

    	22.2	
            Owner shall be responsible for, and shall pay directly, all Owner Taxes. All payments due and payable by Owner to Contractor hereunder shall be made in the full amount of the prices specified in this Agreement, free and clear of all
              deductions and withholding for Owner Taxes. If Owner deducts or withholds Owner Taxes, Owner shall pay additional amounts to Contractor to cause the amounts actually received by Contractor, net of deducted or withheld Owner Taxes, to equal
              the full amount of the specified prices, and shall provide to Contractor within one (1) month, along  with such payments, accurate official receipts from the appropriate governmental authority for deducted or withheld Owner Taxes. If
              Contractor is required to pay Owner Taxes, Owner shall,  promptly upon presentation of Contractor’s invoice for such Owner Taxes, pay to Contractor in U.S. dollars an amount equal to the U.S. dollar equivalent of such Owner Taxes (calculated
              at the exchange rate in effect at the time payment of such Owner Taxes was made).

          

     

    	22.3	
            If Owner intends to claim any exemption from taxes or duties related to this Agreement or its performance, Owner agrees to timely furnish without charge evidence of tax or  duty  exemption acceptable to the taxing or customs authorities.
              Furthermore, if Owner arranges for export shipment, Owner agrees to provide Contractor, without charge, an export bill of lading.

          

     

    
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    ARTICLE 23: NO NUCLEAR USE

     

    	23.1	
            The parts and services provided and performed hereunder are not intended for application (and shall not be used) in connection with any nuclear installation or activity and Owner warrants that it shall not use the parts or services for any
              such purpose, or permit others to use the parts or services for any such purpose.

          

     

    	23.2	
            If, in breach of the foregoing, any such use occurs, Contractor, its Affiliates, suppliers and subcontractors, shall have no liability for any nuclear or other damage, injury or contamination, and Owner shall indemnify Contractor, its
              Affiliates, suppliers and subcontractors of every type and tier, against any such liability, whether arising as a result of breach of contract, warranty, indemnity, tort/ extracontractual liability (including negligence), strict liability or
              otherwise.

          

     

    ARTICLE 24: GENERAL CLAUSES

     

    	24.1	
            Nothing in this Agreement confers or purports to confer on any third party any benefit or any right  to enforce any of the terms of this Agreement pursuant to the Contracts (Rights of Third Parties) Act of 1999 except as provided in the
              Articles 9 (Limitations of Liability) and 23 (No Nuclear Use).

          

     

    	24.2	
            Notwithstanding anything to the contrary, Owner grants to Contractor a non-terminable, non-exclusive, perpetual, royalty-free, worldwide right and license to access, collect, store and use data  and information concerning Parts, Covered
              Unit and Facility operation and performance (“Data”),  so long as Contractor does not disclose to any party not a Contractor Affiliate an identification of Owner in connection with a particular item of Data. For purposes of clarity,
              such use may be for research and development purposes; in the aggregate, for statistical and other analysis for commercial use; or for other lawful purposes. Contractor’s rights under this Section 24.2 include, without limitation, the right
              to interface directly to the Facility distributed control system and to utilize a dedicated network or internet connection or telephone line. For the avoidance of doubt Contractor shall not collect Data following termination of the Agreement.

          

     

    In addition, the following provisions shall apply:

     

    	

          	(a)	
            Owner shall maintain its equipment, systems, software and network interfaces to ensure that there are no viruses, Trojan horses, tracking or other cookies, rnalware or any other harmful software embedded in or attached to Data or such
              equipment, systems, software or network interfaces that are accessed by or otherwise affect Contractor’s equipment, systems or software. Owner shall not reverse engineer, hack, access or attempt to access, or have anyone do so on its behalf,
              any data, systems, programming, or any other information maintained by Contractor. In addition, Owner or those acting on Owner’s behalf shall not develop or insert into any of Contractor’s systems, networks or data any back-door access, viruses, Trojan horses, tracking or other cookies, malware or any other unauthorized software.

          

     

    
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          	(b)	
            Owner shall use industry-accepted software and cyber security measures for the purpose of protecting equipment, systems, software and network interfaces and such protection measures shall be at least commensurate with those which it uses
              for the protection of its own equipment, systems, software and network interfaces (which shall be no less than reasonable measures), as per the Good Industry Practice.

          

     

    	24.3	
            Contractor acknowledges and agrees that (i) Contractor Affiliates have been contracted by Owner under the EPC Contract and under the CSA Contract; and (ii) the scope of Contractor Affiliates under such other agreements have interface with
              this Agreement. Therefore, Owner shall not be held liable for the delay, default, breach and/or negligence of EPC Contractor and/or CSA Contractor.

          

     

    	24.3.1	
            Contractor further acknowledges and agrees that the services performed (including any related delay, default, breach and/or negligence) by EPC Contractor and/or CSA Contractor will, in no event: (i) release Contractor from performing any
              of its obligations under this Agreement; and/or (ii) preclude and/or negatively impact Owner’s rights under this Agreement.

          

     

    	24.3.2	
            Contractor acknowledges and agrees to be fully aware of the Facility’s design and engineer under the EPC Contract which shall not be considered in any circumstance as an Assumption Violation, and - unless there is a substantial deviation
              directly instructed by Owner as per Section 6.3 of the EPC Contract or for any cause after Commercial Operation Date – Contractor will be not entitled to claim that the conditions of the Site and/or the Facility are different from the ones
              that Contractor was aware prior to the execution of this Agreement, including without limitation for the purposes of Articles 12 (Health, Safety and Security) and 16 (Indemnification), thus, Contractor waiving any and all right to charge
              Extra-Works it may have in relation to the conditions it was aware as per this Section.

          

     

    	24.4	
            Owner and Contractor are each independent of the other and nothing in this Agreement is intended,  or shall be deemed, to create a partnership or joint venture of the Parties. No modification, amendment, rescission, waiver or other change
              shall be binding on a Party unless agreed in writing by that Party. This Agreement is the result of mutual negotiation of the Parties and represents the entire agreement between the Parties. Any oral or written representation, warranty,
              course of dealing or trade usage not contained or referenced herein shall not be binding on either Party. Each Party agrees that it has not relied on, or been induced by, any representations  of the other Party not contained in this
              Agreement.

          

     

    
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    	24.5	
            The invalidity in whole or in part of any portion of this Agreement shall not affect the validity of the remainder of this Agreement and in such a case of invalidity the Parties shall endeavor in good  faith to modify the invalid
              provisions so as to carry out as nearly as possible the original intent of the Parties in a legally enforceable manner. The rights and remedies set forth in this Agreement are the exclusive rights and remedies of each Party with respect to
              this Agreement, its  performance or breach.

          

     

    	24.6	
            The language of this Agreement is English. The documents or technical and outage reports will be provided by Contractor in Portuguese. Training materials shall also be provided in Portuguese and other documents, if available in English may
              be provided in English together with a Portuguese version.

          

     

    	24.7	
            The failure to exercise or delay in exercising a right or remedy provided by this Agreement does not constitute a waiver of the right or remedy or a waiver of other rights or remedies. No single or  partial exercise of a right or remedy
              provided by this Agreement prevents further exercise of the right or remedy or the exercise of another right or remedy.

          

     

    	24.8	
            Article and Section headings are for convenience and shall not be given effect in interpretation of  this Agreement. Where the context requires, words importing the singular shall include the plural and vice versa. References to any law or
              regulatory provision shall also include any amendment to such law or regulation. A reference to a consent or approval not being unreasonably  withheld also includes an agreement that the consent or approval will not be unreasonably delayed.

          

     

    	24.9	
            Subject to liability time limitations contained herein, the following Articles and Sections shall survive termination of the Agreement: Section 4.2 (Termination), Article 5 (Payments) to the extent of Owner’s obligation to pay all amounts
              due to Contractor including, without limitation, payment for goods and services provided and performed prior to termination or expiration, Section  7.2.1 (c) (Owner Insurance, to the extent of the waiver of subrogation), Article 8 (Warranty),
              Article 9 (Limitations of Liability), Article 10 (Dispute Resolution), Article 11 (Confidentiality), to the extent of Owner’s obligation to reimburse Contractor, Article 14 (Assignment), Article 15 (Site Conditions and Hazardous Materials),
              Article 16 (Indemnification),  Article 17 (Intellectual Property), Article 19 (Excusable Events), Article 20 (Notices), Article 21 (Change in Law), Article 22 (Taxes and Duties), Article 23 (No Nuclear Use), and this Article 24 (General
              Clauses), provided, however, that in the event of a termination by Contractor on account of Owner’s default based on its failure to fulfill its payment obligations or  Insolvency,  Owner’s  warranty  and  guarantee  rights  granted  by
              Contractor under Article 8 (Warranty) and Owner’s rights under Article 17 (Intellectual Property) shall also terminate.

          

     

    
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    	24.10	
            This Agreement may be signed in counterparts with the same effect as if all signing parties had signed the same document. All counterparts shall be construed together and constitute one and the  same contract.

          

     

    IN WITNESS WHEREOF, the Parties have caused this Agreement to be signed by their duly authorized representatives.

     

    [rest of the page left blank intentionally]

     

    
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    [signature page of the Operation & Maintenance Agreement entered between CELSE – Centráis Elétrica de Sergipe S.A., General Electric International Inc., GE Global Parts and Products GMBH and GE
      Power & Water Equipamentos e Serviços de Energia e Tratamento de Água Ltda. dated December 22nd, 2016]

     

    CELSE – Centráis Elétrica de Sergipe S.A.

     

    
      	 	
              /s/ Eduardo Maranhão

            	 	
              /s/ Edio Jose Rodenheber

            	 
	 	
              Name: Eduardo da C.A. Maranhão

            	 	
              Name: Edio Jose Rodenheber

            	 
	 	
              Title: CEO

            	 	
              Title: COO

            	 
	 	
              Date: 22/12/2016

            	 	
              Date: 22/12/2016

            	 

    

     

    

    
      71

      
        

    

    [signature page of the Operation & Maintenance Agreement entered between CELSE – Centráis Elétrica de Sergipe S.A., General Electric International Inc., GE Global Parts and Products GMBH and GE
      Power & Water Equipamentos e Serviços de Energia e Tratamento de Água Ltda. dated December 22nd, 2016]

     

    GENERAL ELECTRIC INTERNATIONAL, INC.

     

    
      	 	/s/ Authorized Signatory	 	/s/ Authorized Signatory

            	 
	 	
              Name: Authorized Signatory

            	 	
              Name: Authorized Signatory

            	 
	 	
              Title: Authorized Signatory

            	 	
              Title: Authorized Signatory

            	 
	 	
              Date: 12/22/2016

              

            	 	
              Date: 12/22/2016

              

            	 

    

    

    
      72

      
        

    

    [signature page of the Operation & Maintenance Agreement entered between CELSE – Centráis Elétrica de Sergipe S.A., General Electric International Inc., GE Global Parts and Products GMBH and GE Power & Water
      Equipamentos e Serviços de Energia e Tratamento de Água Ltda. dated December 22nd, 2016]
     

    GE GLOBAL PARTS AND PRODUCTS GMBH

     

    
      	 	/s/ Authorized Signatory

            	 	/s/ Authorized Signatory	 
	 	
              Name: Authorized Signatory

            	 	
              Name: Authorized Signatory

              

            	 
	 	
              Title: Authorized Signatory

            	 	
              Title: Authorized Signatory

            	 
	 	
              Date: 12/22/2016

              

            	 	
              Date: 12/22/2016

            	 

       

      

    

    
      73

      
        

    

    [signature page of the Operation & Maintenance Agreement entered between CELSE – Centráis Elétrica de Sergipe S.A., General Electric International Inc., GE Global Parts and Products GMBH and GE
      Power & Water Equipamentos e Serviços de Energia e Tratamento de Água Ltda. dated December 22nd, 2016]

     

    GE POWER & WATER EQUIPAMENTOS E SERVIÇOS DE

      ENERGIA E TRATAMENTO DE ÁGUA LTDA.

     

    

    
      	 	
              /s/ Henri da Silva

            	 	
              /s/ Daniel Meniuk

            	 
	 	
              Name: Henri da Silva

            	 	
              Name: Daniel Meniuk

            	 
	 	
              Title: Sales Manager

            	 	
              Title: Director Executive

            	 
	 	
              Date: 12/22/2016

            	 	
              Date: 12/22/2016

            	 

       

      

    

    
      74

      
        

    

    [Witness signature page of the Operation & Maintenance Agreement entered between CELSE – Centráis Elétrica de Sergipe S.A., General Electric International Inc., GE Global Parts and Products GMBH
      and GE Power & Water Equipamentos e Serviços de Energia e Tratamento de Água Ltda. dated December 22nd, 2016]

     

    
      	 	
              /s/ Thomas Kiss

            	 	
              /s/ Ana Caela Calixto

            	 
	 	
              Name: Thomas Kiss

            	 	
              Name: Ana Caela Calixto

            	 
	 	
              Id: 30862565-1

            	 	
              Id: 32909006-9

            	 
	 	
              Date: 12/22/2016

            	 	
              Date: 12/22/2016

            	 

    

    

    

    

  

  75

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