Hive. Down Each unencumbered entity and asset including, but not limited to, those specified in sections E3 and E4 below (other than (i) any entity or asset which will be hived down to RigCo, (ii) cash and (iii) any subsidiary of Seadrill Limited party to a newbuild contract (including North Atlantic Rigel Limited and any equity stake in the West Rigel rig or related joint venture) to be hived down to the NSNCo Group as contemplated in the hive down steps paper prepared by Ernst & Young LLP (the “EY Paper”) or in sections ▇▇, ▇▇ and E5 below. For the avoidance of doubt, the hive down and change in shareholding structure of Seabras Sapura Participacoes SA and
Appears in 2 contracts
Sources: Restructuring Support and Lock Up Agreement (Seadrill LTD), Restructuring Support and Lock Up Agreement (North Atlantic Drilling Ltd.)