Common use of Rig Utilization Ratio Clause in Contracts

Rig Utilization Ratio. The Borrowers will maintain a Rig Utilization Ratio, measured for the six-month period ending as of the last day of each calendar month, beginning with the calendar month ended January 31, 2015, of no less than the correlative percentage indicated: January 31, 2015 February 28, 2015 March 31, 2015 April 30, 2015 May 31, 2015 June 30, 2015 July 31, 2015 August 31, 2015 September 30, 2015 October 31, 2015 November 30, 2015 December 31, 2015 60 % January 31, 2016 February 29, 2016 March 31, 2016 April 30, 2016 May 31, 2016 June 30, 2016 July 31, 2016 August 31, 2016 September 30, 2016 October 31, 2016 November 30, 2016 December 31, 2016 70 % January 31, 2017, and the last day of each calendar month thereafter. 80 %”

Rig Utilization Ratio. The Borrowers will maintain a Rig Utilization Ratio, measured for the six-month period ending as of the last day of each calendar month, beginning with the calendar month ended January 31, 2015, of no less than the correlative percentage indicated: January 31, 2015 February 28, 2015 March 31, 2015 April 30, 2015 May 31, 2015 June 30, 2015 July 31, 2015 August 31, 2015 September 30, 2015 October 31, 2015 November 30, 2015 December 31, 2015 60 % January 31, 2016 February 29, 2016 March 31, 2016 April 30, 2016 May 31, 2016 June 30, 2016 July 31, 2016 August 31, 2016 September 30, 2016 October 31, 2016 November 30, 2016 December 31, 2016 70 7060 % January 31, 20172017,2018, and on the last day of each calendar month thereafter. 80 8075 %”

Rig Utilization Ratio. The Borrowers will maintain a Rig Utilization Ratio, measured for the six-month period ending as of the last day of each calendar month, beginning with the calendar month ended January 31, 2015, of no less than the correlative percentage indicated: January 31, 2015 60 % February 28, 2015 March 31, 2015 April 30, 2015 May 31, 2015 June 30, 2015 July 31, 2015 August 31, 2015 September 30, 2015 October 31, 2015 November 30, 2015 December 31, 2015 60 % January 31, 2016 60 % February 29, 2016 March 31, 2016 April 30, 2016 May 31, 2016 June 30, 2016 July 31, 2016 August 31, 2016 September 30, 2016 October 31, 2016 November 30, 2016 December 31, 2016 70 January 31, 2017 7060 % January 31, 20172018, and on the last day of each calendar month thereafter. 80 %”thereafter 75 % Exhibit A to FirstFourth Amendment #37466145