Common use of Creditor Default Clause in Contracts

Creditor Default. An act or omission by a holder of a Claim or an Interest in contravention of the provisions of this Plan shall be deemed an event of default under this Plan. Upon an event of default, the Reorganized Debtors may seek to hold the defaulting party in contempt of the Confirmation Order and shall be entitled to reasonable attorneys’ fees and costs of the Reorganized Debtors in remedying such default. Upon the finding of such a default by a creditor, the Bankruptcy Court may: (a) designate a party to appear, sign and/or accept the documents required under the Plan on behalf of the defaulting party, in accordance with Bankruptcy Rule 7070; (b) enforce the Plan by order of specific performance; (c) award judgment against such defaulting creditor in favor of the Reorganized debtor in an amount, including interest, to compensate the Reorganized Debtors for the damages caused by such default; and (d) make such other order as may be equitable that does not materially alter the terms of the Plan. Dated: February 26, 2018 SEADRILL LIMITED on behalf of itself and all other Debtors /s/ ▇▇▇▇ ▇▇▇▇▇▇ Chief Financial Officer Seadrill Management Limited 1. Seadrill Americas, Inc. 2. Sevan Drilling North America LLC 3. Seadrill Limited

Creditor Default. An act or omission by a holder of a Claim or an Interest in contravention of the provisions of this Plan shall be deemed an event of default under this Plan. Upon an event of default, the Reorganized Debtors may seek to hold the defaulting party in contempt of the Confirmation Order and shall be entitled to reasonable attorneys’ fees and costs of the Reorganized Debtors in remedying such default. Upon the finding of such a default by a creditor, the Bankruptcy Court may: (a) designate a party to appear, sign and/or accept the documents required under the Plan on behalf of the defaulting party, in accordance with Bankruptcy Rule 7070; (b) enforce the Plan by order of specific performance; (c) award judgment against such defaulting creditor in favor of the Reorganized debtor in an amount, including interest, to compensate the Reorganized Debtors for the damages caused by such default; and (d) make such other order as may be equitable that does not materially alter the terms of the Plan. [Remainder of Page Intentionally Left Blank.] Dated: February 26, 2018 SEADRILL LIMITED on behalf of itself and all other Debtors /s/ ▇▇▇▇ ▇▇▇▇▇▇ Chief Financial Officer Seadrill Management LimitedLimited Exhibit A List of Debtors # Debtor 1. Seadrill Americas, Inc. 2. Sevan Drilling North America LLC 3. Seadrill Limited