Rate During Repair Sample Clauses

Rate During Repair. Except during Turnkey operations, the Repair Rate specified in the Drilling Order will be payable during the first twenty-four (24) hours per month during which operations are suspended to permit necessary replacement, inspection, repair of maintenance of Contractor’s Items. Routine maintenance such as lubrication, packing of swivels, changing of pump parts, slipping lines, drill string and certification inspections, shall not be considered as maintenance for purposes of this Paragraph. Contractor will use due diligence in effecting such repairs, replacements or maintenance in a good and workmanlike manner and will use its best efforts to familiarize itself with the location of rental replacements for Contractor’s Items.
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Rate During Repair. The Repair Rate specified in Appendix A will be payable for any daywork operations period in excess of the period specified in Appendix A per occurrence during which operations are suspended to permit necessary replacement, inspection, repair, or maintenance of Contractor's Items. Routine maintenance such as lubrication, packing of swivels, changing of pump parts, slipping lines, drill string inspections and certification inspections, shall not be considered as maintenance for purposes of this Paragraph.
Sample 1
Rate During Repair. The Repair Rate specified in Appendix A will be payable during the first twenty-four (24) hours per month during which operations are suspended to permit necessary replacement, inspection, repair of maintenance of Contractor's Items. Routine maintenance such as lubrication, packing of swivels, changing of pump parts, slipping lines, drill string and certification inspections, shall not be considered as maintenance for purposes of this Paragraph 7.5. Contractor will use due diligence in effecting such repairs, replacements or maintenance in a good and workmanlike manner and will use its best efforts to familiarize itself with the location of rentable replacements for Contractor's Items.
Sample 1
Rate During Repair. The Repair Rate of zero ($0) will be payable for any period in excess of the period specified in Appendix A per occurrence during which operations are suspended as a result of Contractor’s failure to provide its Personnel as provided in Appendix C or Paragraph 303. The Repair Rate of zero ($0) will be payable for any period in excess of the periods specified in Appendix A per occurrence during which operations are suspended as a result of breakdown or failure of Contractor’s Items or to permit necessary replacement, inspection (including certification inspections), repair or maintenance of Contractor’s Items, except as otherwise provided in Paragraphs 606, 707, 901(a), 901(b), and 901(c). Routine maintenance such as lubrication, packing of swivels, changing of pump parts, servicing top drive or slipping lines shall not be considered as Repair for purposes of this Paragraph; provided, however, that Contractor shall be limited to twenty-four (24) cumulative hours of routine maintenance per month, after which the Repair Rate of zero ($0) shall apply. If the dayrate has been reduced to zero ($0) for a period of sixty (60) consecutive days, either party may terminate the Contract; provided, however, that Operator may prevent such termination by paying the Force Majeure Rate. If operations are suspended as a result of breakdown or failure of Contractor’s Items to permit replacement, inspection, repair or maintenance of Contractor’s subsea equipment, the repair period shall commence and the Repair Rate of zero ($0) shall apply immediately upon such suspension of operations and shall cease when the BOP stack/LMRP has been rerun, latched, successfully tested and the BOP/LMRP test plug has been pulled to the surface.
Sample 1
Rate During Repair. The Repair Rate specified in Appendix A will be payable for any period in excess of the repair time specified in Appendix A per occurrence during which operations are suspended to permit necessary replacement or repair of Contractor's Items, except as provided in Paragraphs 605, 705(d) and 707. Suspensions for routine maintenance and inspections, such as lubrication, packing of swivels, changing of pump parts, slipping and cutting the drilling line, servicing the top-drive, testing BOP equipment, drill string inspections and any certification inspections, shall not be considered repair time for purposes of this Paragraph.
Sample 1
Rate During Repair. The Repair Rate specified in Appendix A will be payable for any period in excess of the repair time specified in Appendix A per occurrence during which operations are suspended to permit necessary replacement or repair of Contractor’s Items, except as provided in Paragraphs 605 and 707. Suspensions for routine maintenance and inspections, such as lubrication, packing of swivels, changing of pump parts, slipping lines, servicing the top-drive, testing BOP equipment, drill string inspections and any certification inspections, or to repair or replace Contractor's Items damaged or lost by Operator or its other contractors and subcontractors shall not be considered repair time for purposes of this Paragraph.
Sample 1

Related to Rate During Repair

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Borrowing Base Deficiency If at any time there exists a Borrowing Base Deficiency the Borrower shall cure same in accordance with Section 2.06 hereof.

  • Securing Repayment In order to secure repayment of the Fund’s obligations to the Custodian, the Fund hereby agrees that the Custodian shall have, to the maximum extent permitted by law, a continuing lien and security interest in, and right of setoff against: (a) all of the Fund’s right, title and interest in and to all Accounts in the Fund’s name and the Securities, money and other property now or hereafter held in such Accounts (including proceeds thereof) and (b) any other property at any time held by the Custodian for the Fund. In the event the Custodian has such a legally permissible continuing lien and security interest, the Custodian shall be entitled to collect from the Accounts sufficient cash for reimbursement, and if such cash is insufficient, to sell the Securities in the Accounts to the extent necessary to obtain reimbursement (but only to the extent permitted by the 1940 Act). In this regard, the Custodian shall be entitled to all the rights and remedies of a pledgee and secured creditor of a registered investment company under applicable laws, rules or regulations as then in effect.

  • Increased LIBO Rate Loan Costs, etc The Borrower agrees to reimburse each Lender and each Issuer for any increase in the cost to such Lender or Issuer of, or any reduction in the amount of any sum receivable by such Secured Party in respect of, such Secured Party’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make or continue) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change in, or the introduction, adoption, effectiveness, interpretation, reinterpretation or phase-in after the Restatement Effective Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectively. Each affected Secured Party shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating the reasons therefor and the additional amount required fully to compensate such Secured Party for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Secured Party within five Business Days of its receipt of such notice, and such notice shall, in the absence of manifest error, constitute prima facie evidence thereof and shall be binding on the Borrower.

  • Interest Period Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of each Term Loan Advance at the rate set forth in Section 2.2(a).

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Increased Costs Reserves on Eurodollar Rate Loans (a) Increased Costs Generally. If any Change in Law shall:

  • Borrowing Base Redetermination Pursuant to Section 2.07 of the Credit Agreement, the Administrative Agent and the Lenders agree that for the period from and including the Third Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $1,700,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.7(e), Section 8.13(c) or Section 9.12(d). For the avoidance of doubt, the redetermination herein shall constitute the April 1, 2015 Scheduled Redetermination and the next Scheduled Redetermination shall be the October 1, 2015

  • LIBOR Interest Periods In lieu of making any payment pursuant to this Section 5.2 in respect of any LIBOR Loan, other than on the last day of the Interest Period therefor so long as no Event of Default shall have occurred and be continuing, the Borrower at its option may deposit, on behalf of the Borrower, with the Administrative Agent an amount equal to the amount of the LIBOR Loan to be prepaid and such LIBOR Loan shall be repaid on the last day of the Interest Period therefor in the required amount. Such deposit shall be held by the Administrative Agent in a corporate time deposit account established on terms reasonably satisfactory to the Administrative Agent, earning interest at the then customary rate for accounts of such type. Such deposit shall constitute cash collateral for the LIBOR Loans to be so prepaid; provided that the Borrower may at any time direct that such deposit be applied to make the applicable payment required pursuant to this Section 5.2.

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

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