RE: Straight from the horse's mouth!14 Nov 2018 19:38
OGX shall be fully responsible for the following redelivery
obligations (the
“Redelivery Obligations”):
o within 5 business days of the date of receipt of the
Redelivery Notice or OGX Redelivery Notice, to file a
request with ANP requesting the stop of oil production in
the Tubarao Martelo field
(“TMBT”)
and the
abandonment of TBMT;
o redelivering the Vessel to OSX-3 (or to another entity as
directed by OSX-3 or the OSX-3 Bond Trustee) within
the date which is the earlier of:
* 120 days after the date on which ANP approves
the stop of oil production in the Tubarao Martelo
field and the abandonment of the field; and
* 240 days after the date of the Redelivery Notice
or OGX Redelivery Notice
(the date on which redelivery occurs being, the
“Redelivery Date”);
o disconnecting and demobilizing the Vessel so as to
redeliver the Vessel to OSX-3 (or to another entity as
directed by OSX-3 or the OSX-3 Bond Trustee) on the
Redelivery Date, free and clear of any (i) encumbrances
(save for the mortgage over the Vessel in favour of the
OSX-3 Bond Trustee and/or liens that were not created by
or as a result of actions or omissions of OGX), and (ii)
claims of OGX or other persons arising out of the use of
the Vessel by OGX;
o the exportation of the Vessel from TBMT (this obligation
shall include being fully responsible for complying with
any requirements of any governmental authority in
connection with the re-exportation of the Vessel or the
placement of the Vessel on another oil field in Brazilian
waters). OGX shall provide powers of attorney to OSX-3
and the OSX-3 Bond Trustee or their representative or
nominees to perform any actions or provide any
documents that are required in this regard; an