Common use of Vessel Clause in Contracts

Vessel. Borrower will be the registered owner of an ultra-deepwater dynamically positioned drill ship named [•] with hull number [•] (“Vessel”) to be built by Samsung Heavy Industries Co. Ltd. (“Shipbuilder”) pursuant to a contract for the construction and sale of a drillship dated [•] between Borrower and Shipbuilder (the “Shipbuilding Contract”).

Appears in 2 contracts

Sources: Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.), Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.)

Vessel. Borrower will be the registered owner of an ultra-deepwater dynamically positioned drill ship named [] with hull number [] (“Vessel”) to be built by Samsung Heavy Industries Co. Ltd. (“Shipbuilder”) pursuant to a contract for the construction and sale of a drillship dated [] between Borrower and Shipbuilder (the “Shipbuilding Contract”).

Appears in 1 contract

Sources: Amendment and Restatement Agreement (Pacific Drilling S.A.)